February 25, 2024

Rising Adoption of Advanced Pleural Biopsy Systems to Boost the Growth of the Pleural Diseases Market

The global Pleural Diseases Market is estimated to be valued at US$ 42,388.8 Mn or 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 Overview:
The pleural diseases market comprises products that aid in diagnosis and treatment of pleural diseases such as pleurisy, pneumothorax, pleural effusion, mesothelioma and others. Pleural biopsy systems are advanced medical devices used to collect tissue and fluid sample from the pleural space to confirm the presence of disease. Pleural effusion is the most common pleural disease characterized by abnormal accumulation of fluid in the pleural cavity. Thoracentesis procedure is performed using a needle or a small tube to drain excess fluid and provide relief from symptoms. Pleurodesis is a minimally invasive surgical procedure performed to prevent recurrence of symptomatic pleural effusions.

Market key trends:
One of the key trends in the pleural diseases market is the rising adoption of advanced pleural biopsy systems across healthcare facilities. Advanced biopsy systems have integrated technology that assists in accurate collection of sample with increased yield and reduced complications. Secondly, increasing prevalence of pleural diseases owing to growing elderly population base and rising pollution levels worldwide is accelerating the demand for diagnosis and treatment. According to the Mesothelioma Applied Research Foundation (MARF), about 3000 new mesothelioma cases are diagnosed each year in the United States. Moreover, growing R&D investments by key players for development of innovative diagnosis and treatment solutions will further aid the 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 the market requires extensive research and development to introduce new products. Large amounts of funds are required to develop new drugs and therapies for pleural diseases treatment.
Bargaining power of buyers: The bargaining power of buyers in the pleural diseases market is moderate as buyers have a variety of treatment options to choose from. However, the various therapies available are differentiated by effectiveness, safety profile, and cost.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the market depends on key raw material supplies including active pharmaceutical ingredients. Developing new suppliers requires substantial investment.
Threat of new substitutes: The threat of substitutes is low in the pleural diseases market as there are limited treatment alternatives available for pleural diseases currently.
Competitive rivalry: High as major players compete on the basis of product differentiation, partnerships, and geographic expansion.

Key Takeaways
The global pleural diseases market is expected to witness high growth, exhibiting CAGR of 3.1% over the forecast period, due to increasing prevalence of chronic obstructive pulmonary disease (COPD) and tuberculosis. COPD accounted for over 90% of all pleural diseases globally in 2022.

Regionally, North America dominated the global pleural diseases market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to high healthcare expenditure and growing burden of COPD and lung cancer in the region. Meanwhile, Asia Pacific is anticipated to exhibit the fastest growth rate over the forecast period supported by rapidly developing healthcare infrastructure and increasing disease awareness in countries such as India and China.

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. Major players are focusing on new drug development and acquisitions to strengthen their product portfolio and market position. For instance, in 2023, Boehringer Ingelheim International Gmbh acquired Nuvaira Inc., to expand its respiratory device and drug portfolio.