Market Overview:
Pleural diseases are diseases that affect the pleura, the thin, double-layered membrane surrounding the lungs and lining the chest cavity. Some common pleural diseases include pneumothorax, pleurisy, mesothelioma, and pleural effusion. Drugs used in management of pleural diseases are analgesics, antibiotics, antifibrotics to prevent recurrence of diseases. Further, thoracentesis procedures and pleurodesis surgeries are also performed as treatment options.
Market key trends:
Increasing prevalence of lung cancer is estimated to boost the pleural diseases market growth over the forecast period. Lung cancer is one of the leading causes of death among all cancers globally. The disease often spreads to the pleura resulting in pleural effusion or mesothelioma. According to the World Health Organization, over 2 million new lung cancer cases and nearly 1.8 million lung cancer deaths are recorded worldwide each year. In addition, rising cases of esophageal cancer, breast cancer, and other cancers that metastasize to pleura is also fueling the market growth. Furthermore, technological advancements in diagnosis and treatment such as image-guided drainage procedures and multimodal therapies will support the market expansion.
Porter’s Analysis
Threat of new entrants: The high capital investment required for R&D and clinical trials poses a barrier for new entrants in the pleural diseases market.
Bargaining power of buyers: The presence of many established brands and treatment alternatives gives buyers bargaining power in terms of price and quality.
Bargaining power of suppliers: Suppliers of raw materials and intermediates have some bargaining power due to the stringent quality standards and regulations in the pharmaceutical industry.
Threat of new substitutes: The threat of new substitutes is moderate as technological advancements can lead to new treatment alternatives.
Competitive rivalry: Intense competition exists between existing players to capture market share through product innovation and portfolio expansion.
SWOT Analysis
Strength: Wide product portfolio and strong brand presence of major players. Innovation is core strength of key companies to sustain in the market.
Weakness: High capital requirements and stringent regulations increase entry barriers. Risk of drug failure and side effects during clinical trials.
Opportunity: growing geriatric population susceptible to pleural diseases. Emerging economies offer lucrative opportunities due to growing healthcare expenditures.
Threats: Patent expiries of blockbuster drugs. Price control policies and healthcare reforms pose challenges.
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 prevalence of chronic respiratory disorders, tuberculosis and cancer.
Regional analysis: North America dominates the pleural diseases market currently. However, Asia Pacific is expected to grow at a high CAGR during the forecast period owing to rising healthcare spending, large patient pool and increasing awareness about disease treatment.
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. The key players are focusing on partnerships, new product launches and increasing R&D investments for portfolio expansion.
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https://www.dailyprbulletin.com/the-global-pleural-diseases-market-value-analysis/
