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Pleural diseases refer to the pathological conditions affecting the pleura, the thin membrane that surrounds the lungs and lines the chest cavity. Some of the common pleural diseases include pleural effusion, pneumothorax, and mesothelioma. These conditions are generally painful and can significantly impair respiratory capacity if left untreated. Pleural effusion treatment involves draining out the excess fluid from the pleural space using a tube, while pneumothorax is managed through tube insertion or surgery depending on its severity. The global pleural diseases market relies upon accurate diagnosis and effective therapeutics to address the various abnormalities of the pleura.
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: One of the key trends observed in the global pleural diseases market is the rising research efforts towards developing novel drugs and combination therapies. Companies are focusing on drug repurposing and investigating new molecular targets to come up with more effective treatment protocols for difficult-to-treat conditions like mesothelioma. Besides, there is a significant focus on personalized therapy approaches utilizing genetic and molecular testing to understand individual patient’s disease pathology at a granular level and customize treatment accordingly. This shift towards precision medicine aided by technological advancements holds significant potential to boost clinical outcomes and market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the pleural diseases market is low as it requires large investments in R&D to develop new drugs and therapies. It also requires significant capital to build manufacturing facilities and distribution channels.
Bargaining power of buyers: The bargaining power of buyers in the pleural diseases market is moderate. The presence of several treatment options provides buyers with negotiating power over price. However, the need for specialized drugs and therapies limits choice.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Due to specialized machinery requirements, changing suppliers involves costs. However, the presence of a large number of raw material suppliers keeps prices in check.
Threat of new substitutes: The threat of new substitutes in the pleural diseases market is low as there are limited alternative treatment options. Pleural diseases often require long-term management using drugs and procedures available.
Competitive rivalry: The competition in the pleural diseases market is high owing to the presence of numerous global and regional players. Companies compete based on drug efficacy, safety profile, price, and regional expansion.
Key Takeaways
The global pleural diseases market is expected to witness high growth over the forecast period driven by an increasing incidence of lung cancer, tuberculosis, and other conditions leading to pleural diseases.
Regional analysis: North America currently dominates the pleural diseases market owing to advanced healthcare facilities and growing prevalence of cancer in countries like the US. Europe is another major market driven by rising geriatric population and government support for chronic disease management. Asia Pacific is expected to witness the fastest growth over the next few years led by China and India on account of improving access to healthcare and lifestyles changes increasing risk factors.
Key players operating in the pleural diseases market are Abbvie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International Gmbh, F. Hoffmann-La Roche. These leading players are focused on expanding geographically and obtaining regulatory approvals for new drugs to strengthen their market position.
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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
