December 7, 2024

Pleural Diseases Market Trends: A Comprehensive Analysis

Pleural Diseases Market

Pleural diseases refer to medical conditions that affect the pleura, the thin membranes that line the lungs and chest cavity. Some common types of pleural diseases include pleurisy, pneumothorax, and pleural effusion. Pleural effusion occurs when excess fluid collects in the pleural space between the lungs and chest cavity. It is often a result of congestive heart failure, liver disease, kidney failure, pneumonia, lung cancer, or mesothelioma. Mesothelioma is a type of cancer that develops from the protective lining (mesothelium) that covers many of the internal organs. It is commonly caused by exposure to asbestos. The global prevalence of mesothelioma and lung cancer has been increasing significantly over the past few decades mainly due to extensive industrialization and rising air pollution levels. This high prevalence of mesothelioma and lung cancer is expected to drive the growth of the pleural diseases market over the forecast period.

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 Dynamics:
Increasing prevalence of mesothelioma and lung cancer is one of the major drivers of the pleural diseases market. According to the latest global statistics, the annual incidence of mesothelioma is estimated to be around 50,000 people globally. The prevalence is expected to peak in the next 20 years. Lung cancer also accounts for around 1.8 million new cases and 1.6 million deaths annually worldwide according to the WHO. Early diagnosis of these diseases results in improved treatment outcomes. This has increased the demand for advanced diagnostic technologies such as imaging, biopsy, and laboratory tests for pleural diseases screening. Technological advancements in diagnostic imaging modalities such as CT, MRI, ultrasound, and PET scans have enabled precise detection of pleural abnormalities, thereby supporting the market growth. However, high cost of diagnostic procedures and lack of awareness in low-income countries are some of the factors expected to hinder the market growth during the forecast period.

Segment Analysis
The pleural diseases market has three major segments: Malignant Mesothelioma, Pleural Effusion, and Pneumothorax. The malignant mesothelioma segment dominates the market, accounting for around 40% share owing to its increasing incidence rate globally. Mesothelioma is an aggressive form of cancer that affects the lining of the lungs and abdomen. The rising cases of asbestos exposure is a key factor driving growth in this segment.

PEST Analysis
Political: Regulation around asbestos exposure has become more stringent in recent years, especially in developed nations, limiting new cases of asbestos-related diseases like mesothelioma. However, lack of proper enforcement in developing countries continues to pose risks.
Economic: The rising healthcare expenditure to treat complex cases of pleural diseases, increasing life expectancy, and growing demand for advanced treatment options are expected to support market growth over the forecast period.
Social: Public awareness regarding occupational health hazards and overall increase in health consciousness are encouraging people to seek medical help for pleural diseases in early stages.
Technological: Advancements in diagnostic technologies like CT scans and MRI provide more accurate diagnosis of conditions. New drug therapies and minimally invasive surgeries are improving treatment outcomes.

Key Takeaways
The global pleural diseases market is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America currently dominates with the highest share owing to developed healthcare infrastructure and technological advancements in the region. Growing geriatric population, increasing pollution levels in developing countries are contributing to the growth of Asia Pacific pleural disease market which is projected to be the fastest growing regional market.

Key players operating in the pleural disease market are Abbvie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International Gmbh, F. Hoffmann-La Roche, and Merck & Co. Inc., among others. Key players are focusing on new drug developments and approval to expand their product portfolio. For instance, in 2022, Roche received FDA approval for Tecentriq (atezolizumab) for treatment of certain people with non-small cell lung cancer.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →