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The pulmonary embolism therapeutics market size is estimated to grow at a CAGR of 9.52% between 2022 and 2027. The market size is forecast to increase by USD 10,898.47 million. The growth of the market depends on several factors, including the growing risk of adverse health conditions, the increase in the geriatric population, and the rise in research and development activities for pulmonary embolism therapeutics. Adverse effects of the therapeutics, the high cost involved in the treatment of pulmonary diseases, and lack of skilled professionals are the key factors hindering the market growth. Trends such as advancements in the healthcare and medical sector, increasing awareness regarding pulmonary embolism, and the growing number of partnerships and collaborations on therapeutics will influence the growth of the market.
This pulmonary embolism therapeutics market report extensively covers market segmentation by application (hospitals, ambulatory surgical centers, and research institutes), route of administration (oral and parenteral), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing risk of adverse health conditions is driving the growth in the pulmonary embolism therapeutic market. Growing risk of adverse health conditions like heart disease, cancer, obesity, and others can lead to higher chances of occurrence of Pulmonary embolism. The global market for pulmonary embolism therapeutics is primarily driven by an increase in the prevalence of pulmonary embolism diseases. Pulmonary embolism can sometimes be extremely life-threatening, and it basically occurs when a blood clot gets stuck in an artery in the lungs and stops the blood flow.
Even though anybody can acquire blood clots that lead to pulmonary embolisms, those with a history of blood clots, inherited medical conditions, or chronic illnesses including cardiovascular disease and respiratory issues have a higher chance of experiencing one. Long-term smoking addiction can have a serious impact on the lungs. The need for pulmonary embolism therapy is then likely to be driven by a high incidence of these factors, which will ultimately drive growth in the global Pulmonary Aneurysm Therapeutics market over the forecast period.
The advancement in the healthcare and medical sector is a primary trend in the pulmonary embolism therapeutics market. The pulmonary embolism therapeutics market witnesses a higher growth in the forecast period as a result of different technological breakthroughs that are being incorporated into the healthcare industry in terms of diagnostics, healthcare, and medical treatment. Medical procedures like parenteral anticoagulation and Thrombolytic therapy can help to treat Pulmonary embolism.
Moreover, the market for pulmonary embolism therapeutic products will grow in the forecast period, driven by an increased focus on advancing and developing new treatments. Therefore, the global market for lung embolism therapeutic products will increase during the forecast period due to rapid developments in health care and medicine.
The adverse effects of the therapeutics are a major challenge in the pulmonary embolism therapeutics market. Owing to the high risk of prevalence of pulmonary embolism due to various factors like the rise in the geriatric population, and adverse health conditions like obesity, cancer, and others, the usage of drugs to treat those diseases has also increased. Nonetheless, the growth of the market in the forecast period is being hampered by side effects related to these medicinal products ranging from mild to serious and affecting a number of different medical conditions such as allergies or strokes.
An adverse effect of a drug or a therapy is an unpleasant secondary effect that occurs along with the desired therapeutic effect of a medication or therapy. The growth of the pulmonary embolism therapeutics market in the coming years will be restricted by all these complications and adverse drug reactions. Hence, strong adverse effects of pulmonary embolism therapeutics are expected to hinder patient adherence to the treatment regimen, which will act as a barrier to market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pulmonary Embolism Therapeutics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc. - The company offers pulmonary embolism therapeutics such as RINVOQ which meets primary and key secondary endpoints in patients with systemic lupus erythematosus.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The hospital segment is estimated to witness significant growth during the forecast period. The increasing number of public and private specialty hospitals and clinics providing pulmonary embolism therapeutics will influence the growth of the hospitals and clinics segment in this global pulmonary embolism therapeutics market during the forecast period. Large hospitals and healthcare facilities are equipped with advanced medical infrastructure, purchasing in bulk a wide variety of high-quality health products and consumables.
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The hospital segment was the largest segment and valued at USD 5,623.98 million in 2017 and continued to grow by 2021. The reliability of pulmonary embolism therapy has been enhanced by a number of technological developments and innovations, such as the adoption of smart wearables for blood oxygen monitoring and electrocardiogram generation; thereby increasing demand in hospitals and healthcare facilities. All these factors will drive the growth of the hospital and clinic segment, which, in turn, will propel the growth of the global pulmonary embolism therapeutics market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The is rising geriatric population and rising prevalence of chronic disorders like cancer and heart diseases in the region are driving the demand for pulmonary embolism therapeutics in the region during the forecast period. Further, the availability of advanced healthcare facilities with prevalent usage of digital platforms for visual management of operations at hospitals, increasing awareness about the occurrences of chronic disorders and vital organ tests among the people in the region, act as major factors driving the demand for pulmonary embolism therapeutics in the region during the forecast period.
The outbreak of COVID- 19 In 2020 has had adverse effects on all industries, manufacturing units, and business units. However, lockdowns were lifted in the second half of 2020 owing to large-scale vaccination drives by the government across North America. This led to the resumption of operations in clinics and hospitals that offer pulmonary embolism therapeutics since the first half of 2021, which increased the demand for pulmonary embolism therapeutics. Additionally, public awareness about early recognition and optimized treatments is driving market growth in North America during the forecast period.
The pulmonary embolism therapeutics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the pulmonary embolism therapeutics market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent pharmaceuticals market covers products and companies engaged in the (R&D) or production of generic drugs, non-generic drugs, and veterinary drugs. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Pulmonary Embolism Therapeutics Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.52% |
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Market growth 2023-2027 |
USD 10,898.47 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
9.04 |
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Regional analysis |
North America, Europe, Asia, and Rest of the World (ROW) |
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Performing market contribution |
North America at 35% |
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Key countries |
US, France, Norway, UK, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Amgen Inc., Anthos Therapeutics, argenx SE, Astellas Pharma Inc., Bayer AG, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., Inari Medical Inc., Johnson and Johnson Services Inc., Medtronic Plc, Novartis AG, Pfizer Inc., Sanofi, Takeda Pharmaceutical Co. Ltd., and Viatris Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Route of Administration
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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