The Global Bronchial Leiomyoma Market is expected to grow at an approximate CAGR of 5.9% during the forecast period. A bronchial leiomyoma is a rare form of lung tumor, which affects the lower respiratory tract tissues including bronchi, trachea, and other lung tissues. Bronchial leiomyoma constitutes approximately 33%-45% of respiratory system leiomyoma. Mostly, bronchial leiomyoma arises from the smooth muscle tissue lining of the bronchi and grow as solitary tumors being attached to the sides of the bronchi. With the increasing prevalence of the lung cancer, the cases of the bronchial leiomyoma are estimated to increase, which is likely to drive the market growth during the forecast period 2017-2023. In 2017, according to the American Cancer Society, about 222,500 new cases of lung cancer are reported leading to 155,870 deaths.
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Moreover, increasing per capita healthcare expenditure, developing healthcare sector are expected to boost the market growth during the forecasted period. In 2015, according to the Centres for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion. Moreover, the per capita healthcare expenditure of the U.S. was about USD 9,990 within the same year. However, the complexity of diagnosis and treatment along with the lack of awareness of the disease may restrain the market growth during the forecast period.
The Global Bronchial Leiomyoma Market Key Players: Hoffmann-La Roche Ltd (Europe), AstraZeneca (Europe), Eli Lilly and Company. (U.S.), Sanofi (Europe), Pfizer Inc. (U.S.), GlaxoSmithKline Plc. (U.S.), ArQule. (U.S.), Boehringer Ingelheim GmbH (Europe) and others.
Bronchial Leiomyoma Market Regional Analysis:
The Americas dominate the global bronchial leiomyoma market owing to a well-developed healthcare sector. Additionally, increasing number of patients, increasing healthcare expenditure have boosted the growth of the Americas market. Moreover, the presence of the global players like Eli Lilly and Company. Pfizer Inc., and GlaxoSmithKline Plc. and developed economies like the U.S. and Canada within the region fuel the market growth.
Europe is the second largest bronchial leiomyoma market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, and government support for research & development drive the European market.
Asia Pacific is the fastest growing region for the market due to the presence of a huge patient population and continuously developing economies like India and China. Moreover, the untapped market of the region has huge opportunities for the market growth.
On the other hand, the Middle East & Africa owns the least share of the global bronchial leiomyoma market due to the presence of poor economy, especially, in the African region, which has low per capita income. Moreover, stringent government policies may restrain the growth of the market in the African region. Majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure.
Major TOC of Bronchial Leiomyoma Market:
1 Report Prologue
2 Market Introductions
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
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