Pleural Diseases Market: Growing at a CAGR of 6.8% from 2023 to 2030; 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
The global Pleural Diseases Market is estimated to be valued at US$ 3.84 billion in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights. Pleural diseases refer to any condition that affects the pleura, the thin membrane that lines the chest cavity and covers the lungs. These diseases can range from benign conditions such as pleurisy to malignant conditions such as mesothelioma. The market is primarily driven by the increasing prevalence of respiratory diseases, rising geriatric population, and advancements in medical technology. However, high treatment costs and the limited availability of effective treatments are some of the major obstacles in the market’s growth.
Market Key Trends:
One key trend in the Pleural Diseases Market is the growing adoption of minimally invasive procedures for the diagnosis and treatment of pleural diseases. Minimally invasive procedures, such as thoracoscopy and video-assisted thoracic surgery (VATS), offer numerous advantages over traditional open surgical procedures, including smaller incisions, reduced pain and scarring, shorter hospital stays, and faster recovery times. This trend is driven by advancements in medical technology, which have made these procedures safer and more accessible. For example, the development of high-resolution imaging techniques and the availability of specialized instruments have improved the accuracy and precision of minimally invasive procedures.
The Pleural Diseases Market is segmented based on the type of pleural diseases. The market is dominated by the segment of pleurisy, which is inflammation of the pleura. Pleurisy accounts for a significant share of pleural diseases, primarily due to its high prevalence and relatively milder symptoms compared to other conditions such as mesothelioma. Pleurisy can be caused by various factors, including viral or bacterial infections, autoimmune disorders, or certain drugs. The segment of pleurisy is expected to continue dominating the market due to the increasing incidence of respiratory infections and autoimmune diseases.
The global Pleural Diseases Market Share is expected to witness high growth, exhibiting a CAGR of 6.8% over the forecast period, due to increasing respiratory diseases. The rising prevalence of respiratory infections, such as pneumonia and tuberculosis, and the growing incidence of autoimmune disorders, such as rheumatoid arthritis and lupus, are driving the demand for pleural disease treatments. Additionally, advancements in medical technology, such as minimally invasive procedures, are contributing to the market’s growth by providing safer and more effective treatment options.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the Pleural Diseases Market. This can be attributed to the high prevalence of respiratory diseases in the region, favorable reimbursement policies, and a well-established healthcare infrastructure. Furthermore, the presence of key market players, such as Johnson & Johnson and Pfizer Inc., in North America contributes to the region’s dominance in the market.
Key players operating in the global Pleural Diseases Market include 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, and Celgene Corporation. These players are focusing on strategies such as mergers and acquisitions, collaborations, and product launches to strengthen their market presence and expand their product portfolios.
In conclusion, the Pleural Diseases Market is expected to grow significantly over the forecast period, driven by various factors such as the increasing prevalence of respiratory diseases and advancements in medical technology. The market is characterized by the dominance of the pleurisy segment and the growing adoption of minimally invasive procedures. North America is projected to be the fastest-growing and dominating region in the market. Key players in the market are adopting strategies to gain a competitive edge and expand their market share.