Future Market Insights (FMI), a leading market intelligence and consulting firm, has released a comprehensive study on the Global Pleural Disease Therapeutics Industry, shedding light on its anticipated growth trajectory from 2023 to 2033. The market is projected to be valued at US$ 4.98 billion in 2023, with a remarkable compounded annual growth rate (CAGR) of 6.5%.
The study indicates that the Global Pleural Diseases Therapeutics Industry is expected to reach an impressive US$ 9.4 billion by the end of the forecast period, driven by several key factors. Delay in the diagnosis of pleural effusion, a critical aspect of pleural diseases, is identified as a potential threat to patient health, emphasizing the urgent need for efficient treatment procedures. The report highlights that this delay could lead to increased mortality and morbidity rates, further accentuating the demand for advanced therapeutics.
One of the major driving forces behind the market growth is the increasing prevalence of pleural effusion among patients with systemic lupus erythematosus and idiopathic and familial pulmonary hypertension. For instance, the study reveals that 30% to 50% of systemic lupus erythematosus patients are more likely to suffer from pleural effusion, while 21.5% of idiopathic and familial pulmonary hypertension patients are estimated to be affected by the condition. This surge in incidences, coupled with proper diagnosis and the availability of expertise offering pleural effusion surgeries, is expected to propel the market growth of pleural disease therapeutics during the forecast period.
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On the other hand, the development activities by the key players in the form of product launches, mergers and acquisitions, and investments are also projected to support market expansion. For example, in September 2021, BDR Pharma developed and launched ‘BIAPENEM’. This is used in the treatment of patients suffering from intra-abdominal infections, lower respiratory infections, or complicated urinary tract infections. This drug is widely distributed and penetrates well into various tissues like- lung tissue) and body fluids like- sputum, pleural effusion, abdominal cavity fluid). These kinds of advancements are anticipated to fuel market growth of Pleural disease therapeutics during the forecast period.
Key Takeaways from the Global Pleural Diseases Therapeutics Industry Study
- North America is expected to dominate the industry while reaching market share of around 45% by end of the forecast period
- The market in Europe is projected to account for 29% market share during the projected timeline
- By treatment type, thoracentesis is projected to account for 34% market share by end of the forecast period
- Hospitals are expected to dominate the market by end-user, with a market share of 65 % by 2033
- Global market for pleural disease therapeutics to reach US$ 4.98 billion by the end of 2023
“Adoption of novel drugs and mergers and acquisitions between companies are going to positively influence market of Pleural disease therapeutics during the forecast period,” comments an FMI analyst.
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Competitive Landscape
The Global Pleural Diseases Therapeutics Industry 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 the 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 the adoption of inorganic growth strategies such as acquisition, partnerships, and collaboration to enhance their product portfolio. This is expected to propel the global Pleural diseases therapeutics market.
- In September 2021, Bristol Mayer 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 U.S. market to improve the lives of patients. The products have managed to secure 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.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global pleural disease therapeutics market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Global Pleural Diseases Therapeutics Industry is segmented based on treatment (drug class, bullectomy, chemotherapy, video-assisted thorascopic surgery – vats, pleurx catheter, pleurodesis therapy, radiation therapy, thoracentesis, thoracostomy, tumor ablation) and end user (hospitals, specialty clinics, others) across five major regions (North America, Latin America, Europe Asia Pacific and Middle East and Africa).
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Key Segments Profiled in the Global Pleural Diseases Therapeutics Industry Survey
By Treatment:
- Drug Class
- Antibiotics
- Antifungals
- Corticosteroids
- Narcotic Analgesics
- Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
- Bullectomy
- Chemotherapy
- Video-assisted thoracoscopic Surgery (VATS)
- PleurX Catheter
- Pleurodesis Therapy
- Radiation Therapy
- Thoracentesis
- Thoracostomy
By End Users:
- Hospitals
- Specialty Clinics
- Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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