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The pulmonary embolism therapeutics market size is estimated to increase by USD 10.90 billion, growing at a CAGR of 9.52% between 2022 and 2027. 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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This 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.
The market is driven by several factors and trends. As the elderly population increases, along with the prevalence of pulmonary diseases and cancer, there's a heightened risk of pulmonary embolism. Symptoms like breathlessness, chest pain, and coughing up blood necessitate timely diagnosis through chest X-rays, CT scans, and blood tests, including the D-dimer test. Effective medical diagnosis enables prompt treatment, often involving blood thinners like heparin and warfarin to prevent further blood clotting in the lungs. The evolving healthcare system, coupled with advancements in treatment modalities such as chemotherapy for underlying cancer, contributes to improved patient outcomes. Overall, the focus on early diagnosis, advancements in therapeutic options, and a holistic approach to healthcare are key drivers shaping the Pulmonary Embolism Therapeutics Market. 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 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, disrupting blood flow. 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
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 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 5.62 billion in 2017 and continued to grow by 2021. 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 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.
The market is witnessing significant growth driven by various factors. With the aging population and increasing prevalence of respiratory diseases, there's a heightened demand for effective treatments. Factors such as urbanization, industrialization, and work demands contribute to the risk factors associated with pulmonary embolism, necessitating advanced medical solutions. Awareness-raising campaigns by public and private organizations further highlight the importance of early diagnosis and treatment. Innovative therapies like the EkoSonic Endovascular System and advancements in ultrasound technology enhance treatment options alongside traditional approaches like thrombolysis and medications. However, challenges such as unmet medical needs and reimbursement scenarios persist, underscoring the importance of ongoing research, pipeline drugs, and improving treatment practices to address pulmonary embolism effectively.
Furthermore, the market is propelled by various factors contributing to its growth. The elderly population, predisposed to conditions like pulmonary embolism, drives the demand for effective therapies. Symptoms such as breathlessness and chest pain prompt medical diagnosis, necessitating innovative treatments. Factors like blood clotting disorders, chemotherapy, and family history increase susceptibility to pulmonary embolism, accentuating the need for advanced therapies. The healthcare system's focus on cardiovascular health and drug approvals for pulmonary embolism further drive market growth. Medical fraternity involvement, alongside R&D activity levels, fosters the development of cutting-edge therapies and mechanical devices for thrombectomy. Additionally, the availability of treatments like blood thinners, thrombolytic therapy, and direct oral anticoagulants addresses diverse patient needs, ensuring comprehensive care in managing pulmonary embolism.
Pulmonary embolism (PE), a condition characterized by the blockage of arteries in the lungs, poses a significant health risk worldwide. As the prevalence of risk factors such as cancer, lung diseases, and smoking addiction continues to rise, the global pulmonary embolism market faces both challenges and opportunities for innovation. The prevalence of cancer and lung diseases remains a primary driver of pulmonary embolism cases. Cancer patients are particularly susceptible to PE due to factors such as immobility, chemotherapy, and the release of protein fragments that increase the risk of blood clots. Similarly, individuals with lung diseases, including chronic obstructive pulmonary disease (COPD) and asthma, face an elevated risk of developing pulmonary embolism. Addressing the needs of these patient populations requires comprehensive approaches that prioritize early detection, prevention, and treatment of PE.
Smoking addiction remains a significant risk factor for pulmonary embolism, contributing to both the incidence and severity of the condition. Efforts to reduce smoking rates and promote smoking cessation initiatives are crucial in mitigating the risk of PE and improving overall respiratory health. Moreover, initiatives aimed at raising awareness about the link between smoking and pulmonary embolism can help empower individuals to make informed lifestyle choices.
Disposable income and access to healthcare services play a pivotal role in the management of pulmonary embolism. Creative solutions that enhance access to diagnostic tools, medications, and surgical interventions are essential for improving patient outcomes. Companies like Boston Scientific are at the forefront of developing innovative medical devices and therapies to address the needs of patients with pulmonary embolism. From advanced imaging technologies to minimally invasive surgical techniques, these innovations hold promise for enhancing the diagnosis and treatment of PE.
Surgery remains a critical component of pulmonary embolism management, particularly in cases where the condition poses a threat to vital organs or is refractory to other treatments. Surgical interventions, such as thrombectomy or embolectomy, aim to remove blood clots from the pulmonary arteries, restoring blood flow and preventing further complications. However, advancements in minimally invasive techniques offer less invasive alternatives for select patients, reducing recovery times and improving overall patient outcomes.
The pulmonary embolism market is characterized by a growing focus on personalized medicine and targeted therapies. Advances in medical research have led to the identification of novel biomarkers and therapeutic targets associated with PE, paving the way for the development of innovative treatment approaches. From anticoagulant medications to interventions targeting inflammatory conditions and rheumatoid arthritis, the landscape of pulmonary embolism treatment continues to evolve rapidly.
In conclusion, the global pulmonary embolism market presents a complex interplay of risk factors, challenges, and opportunities for innovation. Addressing the rising prevalence of risk factors such as cancer, lung diseases, and smoking addiction requires a multifaceted approach that integrates prevention, early detection, and personalized treatment strategies. By leveraging creative solutions, technological advancements, and collaborative efforts across the healthcare ecosystem, stakeholders can work together to improve outcomes for patients affected by pulmonary embolism worldwide.
Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.52% |
Market growth 2023-2027 |
USD 10.90 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.04 |
Regional analysis |
North America, Europe, Asia, and Rest of the World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, France, Norway, UK, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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, 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, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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