Pleural diseases refer to conditions that affect the pleura, the thin layer of tissue that surrounds the lungs and lines the chest cavity. Some common pleural diseases include pleurisy, pneumothorax, and malignant pleural effusions. Malignant pleural effusions occur due to spread of cancerous tumors to the pleural space, causing excess fluid accumulation. They are often symptomatic and require drainage of fluid to relieve pain and breathing difficulty. Treatment options for pleural diseases mainly involve medication, drainage of fluid, surgery, and radiation therapy. The global Pleural Diseases Market is estimated to be valued at US$ 42,388.8 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The increasing prevalence of malignant pleural effusions is expected to drive the growth of pleural diseases market during the forecast period. Malignant pleural effusions are frequently diagnosed in patients with lung cancer, breast cancer, and lymphoma. According to World Health Organization (WHO), lung cancer remains the leading cause of cancer-related deaths worldwide, accounting for over 1.8 million new cases and 1.6 million deaths in 2020. With rising incidence of cancer globally owing to lifestyle changes and growing elderly population, the demand for treatment of associated pleural diseases is surging significantly.
SWOT Analysis
Strength: Pleural diseases market is witnessing high demand due to increasing prevalence of pleural effusion and pneumothorax cases. Advancements in diagnostic and therapeutic devices also provide growth opportunities.
Weakness: High cost associated with diagnosis and treatment procedures can restrain market growth. Lack of awareness regarding pleural diseases in developing regions is another challenge.
Opportunity: Development of novel treatment options such as pleurodesis and pleurectomy presents lucrative opportunities. Favorable reimbursement policies support the adoption of advanced devices.
Threats: Stringent regulatory approval process delays the product launch. Rising competition from generic drug manufacturers also threatens market growth.
Key Takeaways
The global pleural diseases market is expected to witness high growth.
Regional analysis: North America region currently dominates the market and is expected to continue its dominance during the forecast period. Factors such as rising healthcare expenditure, availability of advanced diagnostic procedures, and presence of key market players drive the regional market growth.
Key players operating in the pleural diseases market are Abbvie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International Gmbh, F. Hoffmann-La Roche, and Merck & Co. Inc., among others. These players are focusing on new product launches, collaborations, and geographic expansions to increase their market share. For instance, in 2022, Boehringer Ingelheim announced plans to expand its pleural disease portfolio with new treatment options.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it