Market Research Future (MRFR) predicts a lucrative run for the global emphysema market at a CAGR of 6.1% during the forecast period (2017-2023).
Growth Factors and Top Challenges
Emphysema leads to a higher death rate because of lung infection, respiratory failure, or heart attack. The condition can be treated by improving shortness in breath and providing necessary medications. Furthermore, a pulmonary function test is given before treatment to decide how much air the patient is able to blow.
The prime factor giving a boost to the emphysema market is the increasing number of smokers the world over. Surveys state that smokers are six times more susceptible to emphysema as compared to non-smokers. Another reason for the market growth could be the vast population with Alpha-1 anti-trypsin (AAT) deficiency, which is a type of genetic disorder that damages the white blood cells in the tissues present in the lungs. Close to 2% to 3% of the worldwide population is afflicted with emphysema owing to AAT deficiency. In some cases, treating emphysema with oral steroids could result in high blood pressure, which could negatively impact the product demand rate.
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The World Health Organization (WHO) reveals that asthma affects close to 300 million people globally, while COPD affects about 210 million people. The WHO expects these numbers to increase in the near future with the growth in urban population, changing life style, rising number of tobacco smokers and hike in pollution level. Thus, the emphysema market will have no dearth of growth opportunities during the evaluation period, predicts MRFR.
The worldwide market for emphysema has been segmented with respect to type, diagnosis, treatment, and end-user.
Considering the type, the segments in the market are centrilobular and panlobular emphysema.
Diagnosis-wise, the market is segmented into imaging tests, lung function tests, and others. The imaging test is sub-divided into chest X-ray and CT scan.
According to the types of treatment, the market is segmented into therapy, surgery, and medications. The types of medications covered by the report are smoking cessation drugs, bronchodilators, inhaled steroids, antibiotics, and leukotriene modifiers.
The end-users in the market include hospitals and clinics, surgical centers, and others.
The market for emphysema is spread across the key regions of Asia Pacific, Europe, America, and the Rest of the World (RoW).
The emphysema market in America is split into two regions, namely North America and South America. North America has seized the larger share of the regional market, with the rising use of lung function test and imaging test to diagnose diseases along with a large patient pool diagnosed with COPD. In North America, the United States (U.S.) stands as the leading market as the country is home to a huge number of esteemed vendors that manufacture medications for emphysema. Apart from this, the hike in awareness regarding risk factors and cases of the disease substantiates the market growth further. A report by the American Lung Association says that in the U.S., COPD has been identified as the fourth primary cause of deaths. Furthermore, Canada is predicted to grow at the fastest-rate backed by the boost in demand for diagnostic medical devices due to advancements in the medical device sector. The other region in America is South America, which is perceived to have the fastest-developing market, based on the availability of technologically sophisticated devices for diagnosis. The elevated demand for treatment methods of respiratory diseases will also work in favor of the regional market.
The Europe emphysema market is believed to showcase lucrative growth in the near future, with growing stress on diagnosis of chronic respiratory conditions including COPD and asthma. Another factor promoting market growth is in the form of increasing attention given to research and development activities to treat respiratory diseases. The United Kingdom (U.K.) and Germany stand as the chief supporters of the market growth in the region. On this note, increasing spending in healthcare by significant countries in the region also amplifies market growth.
Expanding at the fastest speed, the Asia Pacific market’s growth is dependent on factors like the strong demand for lung function tests along with other diagnostic tests. Other important drivers in the market include the rising focus on the early diagnosis as well as treatment of lung diseases. Also, with the evolving lifestyles brought on by the influence of western culture and increasing addiction to smoking, the market can be expected to grow at a significant pace. Over and above that, growing pollution combined with exposure to harmful chemicals is expected to leave a positive impact on the regional market.
The Middle East and Africa emphysema market is set to depict a consistent surge in the ensuing years on account of the rising number of healthcare facilities that provide treatment for chronic conditions. Likewise, the favorable expansion of the medical device sector such as diagnostic devices like MRI and CT will bring in higher levels of revenues during the evaluation period. Africa notes rising levels of awareness with respect to COPD, which accelerates the market growth to a large extent.
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The prominent vendors making a mark in the emphysema market include BTG International’s, Halozyme Therapeutics, Inc., PneumRx, Uptake Medical Corporation, Intrexon Corporation, Emphasys Medical, Inc., Pfizer, Inc., Olympus Corporation, Kamada Limited, Icure Pharmaceuticals, Inc., Mariposa Health Limited, Pulmonx Inc., and others.
Piedmont Atlanta has become the first hospital in Georgia that provides treatment for emphysema using Zephyr Valve System. This is a minimally invasive therapy that improves lung function as well as exercise tolerance without requiring any surgery.
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