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The pulmonary embolism therapeutics market size is estimated to increase by USD 14.02 billion, growing at a CAGR of 10.93% between 2023 and 2028. Market growth hinges on various factors, notably the escalating risk of adverse health conditions, the expansion of the geriatric demographic, and the uptick in research and development endeavors focused on pulmonary embolism therapeutics. However, challenges including adverse effects associated with therapeutics, the substantial cost of treating pulmonary diseases, and a shortage of skilled professionals, impede market expansion. Furthermore, trends such as healthcare and medical sector advancements heightened awareness concerning pulmonary embolism, and the proliferation of partnerships and collaborations in therapeutic development are expected to shape market growth dynamics.
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The market addresses critical conditions such as shortness of breath, cough, irregular heartbeat, and cyanosis, often accompanied by fever and chest discomfort. Diagnostic tools like Chest X-ray, ECG, and MRI aid in identifying this life-threatening condition, which affects obese patients and individuals undergoing hormone replacement treatment or supplementary estrogen therapy, including those in old age pregnancy. Therapies targeting the pulmonary artery and lung artery, administered via oral or parenteral routes, cater to diverse patient demographics. The market's growth is influenced by advancements in treatment modalities, compliance with reimbursement policies, and the increasing prevalence of risk factors such as high blood pressure and deep vein thrombosis among populations worldwide. Our researchers analyzed the data with 2023 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 market is experiencing growth primarily due to the escalating risk of adverse health conditions such as heart disease, cancer, and obesity. These conditions elevate the likelihood of pulmonary embolism occurrences, a life-threatening condition where blood clots obstruct arteries in the lungs causing pulmonary arterial hypertension, disrupting blood flow.
Furthermore, individuals with a history of blood clots, hereditary medical conditions, or chronic ailments like cardiovascular and respiratory diseases face heightened risks. Additionally, long-term smoking exacerbates lung health issues, further increasing vulnerability. Consequently, the demand for pulmonary embolism therapies surges in response to these prevalent risk factors, propelling the expansion of the global market in the foreseeable future.
The advancement in the healthcare and medical sector is a primary trend in the market. The 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 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 Market Customer Landscape
Companies 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 players, 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 hospitals segment is estimated to witness significant growth during the forecast period. The increasing number of public and private specialty hospitals and clinics providing therapeutics will influence the growth of the hospitals and clinics segment in this global 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 hospitals segment was the largest segment and was valued at USD 6.07 billion in 2018. The reliability of the 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 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 rising geriatric population and rising prevalence of chronic disorders like cancer and heart diseases in the region are driving the demand for 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 market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market focuses on treating a life-threatening condition characterized by symptoms like dizziness, persistent cough, and chest X-ray abnormalities. Diagnostic methods such as pulmonary angiography, venography, and venous ultrasound alongside the D-dimer test aid in accurate diagnosis. Therapeutic options range from surgery and specialty clinics to homecare supported by hospital, retail, and online pharmacies. Treatment aims to manage pulmonary artery blood pressure and prevent heart and lung damage, which can lead to death. Factors influencing the market include patient epidemiology, healthcare expenditure, and lifestyle factors like smoking addiction and overweight, especially among the senior population and those using supplementary estrogen. Ongoing research by research organizations and clinical trial studies explore innovative treatments such as non-immunogenic recombinant staphylokinase and Fortelizin to address post-embolic pulmonary hypertension and recurrent pulmonary embolism. Chest pain, often evaluated using a Chest X Ray, may be exacerbated by factors such as supplementary oestrogen use, family history, and the potential life threatening condition requiring treatment via oral route or parenteral route.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.93% |
Market growth 2024-2028 |
USD 14.02 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.57 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, France, Norway, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 SA, Takeda Pharmaceutical Co. Ltd., and Viatris Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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. |
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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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