A recently published study by Future Market Insights, the global Pleural Disease Therapeutics Market is expected to accumulate a valuation of US$ 9.4 billion by 2033, registering a CAGR of 6.5% across the forthcoming decade. Increasing prevalence of congestive heart failure, and other heart conditions, lung conditions, pneumonia, cancer and tuberculosis is estimated to propel the need for treatment of pleural effusion across the globe. Delay in diagnosis of pleural effusion could lead to mortality and morbidity which in turn is most likely to boost the need for efficient procedure for treating pleural diseases. This is anticipated to drive market growth.
Furthermore, proper diagnosis and availability of expertise offering pleural effusion surgeries are expected to drive the market of pleural therapeutics. For example, 30% to 50% of systemic lupus erythematosus patients are more likely to suffer from pleural effusion. 21.5% of idiopathic and familial pulmonary hypertension patients are estimated to be affected by pleural effusion. All of these factors and surging incidences of pleural effusion are anticipated 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 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 Market 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 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.
- 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 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.
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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
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By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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