by Market Overview:
Pleural diseases involve inflammation or infection of the pleura, the thin membrane that surrounds the lungs and lines the chest cavity. Some common pleural diseases include pleurisy, pneumothorax, and pleural effusion. Products used in the management of pleural diseases include drainage catheters, biopsy devices, endoscopic-assisted devices, and others. Minimally invasive procedures such as medical thoracoscopy and thoracoscopic talc pleurodesis are becoming prominent treatment options due to benefits such as reduced pain and faster recovery time compared to tube thoracostomy and open pleural biopsy.
Market Dynamics:
Increasing incidence of pleural effusion due to rising cancer and tuberculosis cases is expected to drive the growth of the pleural diseases market. According to the Centers of Disease Control and Prevention (CDC), more than 1.7 million new cancer cases were reported in 2019 in the United States. Lung cancer is one of the prominent causes of malignant pleural effusion. According to the World Health Organization, around 10 million new tuberculosis cases were reported globally in 2021. Tuberculosis is one of the top five causes of pleural effusion worldwide. Furthermore, growing adoption of medical thoracoscopy for diagnosis and treatment of pleural diseases is also expected to support the market growth over the forecast period. Medical thoracoscopy enables minimally invasive procedures with better visualization compared to thoracoscopy and reduces recovery time, hospital stay, and healthcare costs.
Segment Analysis
The pleural diseases market can be segmented into malignant and non-malignant pleural diseases. The non-malignant pleural diseases segment currently dominates the market due to high prevalence of diseases such as pleurisy, pneumonia, pulmonary embolism and tuberculosis. According to studies, approximately 4 million people are affected by tuberculosis worldwide every year contributing to the growth of the non-malignant segment.
PEST Analysis
Political: Increased government investments in healthcare infrastructre and favorable regulations for drug development are boosting the market growth.
Economic: Rising per capita healthcare expenditures, growing geriatric population and improving diagnostics facilities are fueling the pleural diseases market.
Social: Rising awareness about early disease diagnosis and availability of innovative treatment options are positively impacting the market.
Technological: Advancements in imaging technologies such as CT scans and MRI for accurate diagnosis and novel drug delivery mechanisms are expected to drive the market during the forecast period.
Key Takeaways
The Global Pleural Diseases Market Demand is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing preference for minimally invasive surgeries and rising collaboration between pharmaceutical companies.
The Asia Pacific region is projected to experience the fastest growth in the pleural diseases market owing to increasing healthcare expenditure, presence of medical tourism hubs and rising geriatric population. Countries such as China and India are expected to register notable market shares in the region.
Key players operating in the pleural diseases market are Johnson & Johnson, AstraZeneca, Novartis International AG, Roche Holding AG, Bristol Myers Squibb, Merck & Co. Inc., Pfizer Inc., GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Sanofi, AbbVie Inc., Eli Lilly and Company, Takeda Pharmaceutical Company Limited, Bayer AG, Celgene Corporation. Strategic collaborations to develop advanced treatment options will be the key differentiator among these players.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
