The global market for pleural diseases therapeutics is projected to experience steady growth over the next decade, with an estimated valuation of USD 4.98 billion in 2023. According to the latest industry report from Future Market Insights, the market is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2033, reaching a value of USD 9.4 billion by the end of the forecast period.
Pleural diseases, which affect the pleura (the tissue surrounding the lungs), include conditions such as pleurisy, pleural effusion, and pneumothorax. These conditions can lead to significant morbidity, often requiring therapeutic interventions to manage symptoms and improve patient outcomes. The rising prevalence of respiratory disorders, advancements in therapeutic options, and increasing awareness of pleural diseases are key drivers of market growth.
Key Market Drivers:
- Rising Prevalence of Respiratory Conditions: The growing incidence of respiratory diseases such as lung cancer, tuberculosis, and chronic obstructive pulmonary disease (COPD) is significantly contributing to the increasing demand for pleural disease therapeutics.
- Advancements in Treatment Options: Ongoing advancements in pleural disease management, including minimally invasive procedures and targeted therapies, are improving patient outcomes and driving market expansion.
- Aging Population: As the global population ages, there is a rising number of patients who are more susceptible to pleural diseases, leading to greater demand for therapeutic interventions.
Regional Insights: North America is expected to maintain a dominant position in the pleural diseases therapeutics market due to advanced healthcare infrastructure, high prevalence of respiratory diseases, and strong investments in research and development. Europe follows closely, while the Asia-Pacific region is anticipated to witness significant growth during the forecast period due to increasing healthcare access, rising patient awareness, and the expanding medical infrastructure in countries such as China and India.
Future Outlook: As research into pleural diseases continues to progress, the pleural diseases therapeutics market is set for sustained growth. New treatment approaches, along with increased awareness and earlier diagnosis, will continue to drive demand in this critical healthcare segment.
Moreover, 2.3 million new cases of lung cancer were registered in 2022, whereas the country suffered over 1.3 million deaths pertaining to lung cancer. Some of other reasons for the high prevalence of lung cancer include the increasing exposure to second-hand smoke, along with radon gas, asbestos, or other carcinogens. These factors along with rising prevalence of congestive heart failure and other heart and lung conditions are driving growth of Pleural disease therapeutics market during the forecast period.
Market Competition
The Pleural diseases therapeutics market is moderately competitive and consists of various key market players. These players are creating novel delivery systems for treating Pleural diseases. This is anticipated to fuel Pleural diseases therapeutics market. The key players in the market are: WakeMed Health and Hospitals, Boston Medical, Max Healthcare, Avik Pharma, Pfizer CentreOne, Hovione, Pipelinepharma, Hoffmann-La Roche AG, Boehringer Ingelheim International GmbH, Bausch Health Companies Inc., Sanofi S.A.
Key market players are focusing on adoption of inorganic growth strategies such as acquisition, partnerships, and collaboration in order to enhance their product portfolio. This is expected to propel the global Pleural diseases therapeutics market.
Some Recent Developments in the Market Are:
- In September 2021, Bristol Myers Squibb announced three-year data from the Checkmate -743 trial. According to the clinical trial data, serious adverse reactions occurred in almost 54% of patients receiving OPDIVO plus YERVOY. The most frequent serious adverse reactions reported in ≥2% of patients were pneumonia, pyrexia, diarrhea, pneumonitis, pleural effusion, dyspnea, acute kidney injury, infusion-related reaction, musculoskeletal pain, and pulmonary embolism.
- In January 2020, Argon Medical launched single and triple loop retrieval kits for its USA market with the aim to improve lives of patients. The products have managed to secure the approval from the United States Food and Drug Administration, and are efficient in the removal of retrievable IVC filters with the help of a jugular approach. These single and triple loop retrieval kits are the only 2 kits to have received FDA approval in terms of any retrievable IVC filter from a jugular approach.
- In May 2021, the FDA approved first-of-its-kind targeted therapy for lung cancer mutation which was up until now considered drug resistant. The therapy is known as Lumakras (sotorasib) and will be used for adult patients who have non-small cell lung cancer where the tumor has genetic mutation called KRAS G12C and patients should have undergone at least one systemic therapy.
Key Companies Profiled
- WakeMed Health and Hospitals
- Boston Medical
- Max Healthcare
- Avik Pharma
- Pfizer CentreOne
- Hovione
- Pipelinepharma
- Hoffmann-La Roche A
- Boehringer Ingelheim International GmbH
- Bausch Health Companies Inc.
- Sanofi S.A.
Key Segments Profiled in the Pleural Diseases Therapeutics Industry Survey
By Treatment:
- Drug Class
- Antibiotics
- Antifungals
- Corticosteroids
- Narcotic Analgesics
- Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
- Bullectomy
- Chemotherapy
- Video-Assisted Thorascopic Surgery (VATS)
- PleurX Catheter
- Pleurodesis Therapy
- Radiation Therapy
- Thoracentesis
- Thoracostomy
By End Users:
- Hospitals
- Specialty Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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