Market Scenario:
There are wide market for pleurisy globally owing to increasing prevalence of chronic disease such as lung cancer, heart surgery, pancreatitis, chest trauma, autoimmune disorder, and asbestosis globally. These disease are consider as the leading causes for pleurisy. According to World Health Organization (WHO), in 2016, more than 90% of Chronic Obstructive Pulmonary Disease (COPD) deaths occur in the low and middle-income countries, also the Global Burden of Disease Study reports a prevalence of 251 million cases of COPD globally in 2016. Report suggest that the primary cause of COPD is exposure to tobacco smoke. These rising number in population suffering with COPD generating the huge demand for better treatment.
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According to a report published by British Society for Rheumatology, in 2016, Rheumatoid arthritis affects roughly 700,000 people in the U.K, and at least 115,000 people in the U.K live with Crohn’s disease
Increasing prevalence of chronic disease, rising demand for better treatment, increasing investment in research and development, and availability of funds drive the growth of the market. Moreover, increasing government support, changing lifestyle, and rapidly developing technology is expected to fuel the market growth during the forecast period. However, high cost of the treatment may slow the market growth during the period 2017-2023.
The global pleurisy market revenue is expected to grow at a CAGR of 6.2% during the forecast period 2017-2023.
Regional Analysis
The Americas dominate the global pleurisy market owing to the presence of huge patient population with chronic diseases, and increasing government support for research & development. Furthermore, market players of this region continue to be involved in providing quality products which give an edge to this region in global leader.
Europe holds the second largest share of the global pleurisy market as result of increasing focus of various government agencies on the treatment of chronic diseases. Moreover, the growing public awareness about healthcare is likely to boost the European market.
Asia Pacific is the fastest growing pleurisy market across the globe. Japan holds a major share of the regional market due to availability of advanced technology and huge healthcare spending. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development is projected to drive the market in China and India over the forecast period.
The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
Segmentation
The global pleurisy market is segmented on the basis of diagnosis devices, treatment, and by end user. On the basis of the diagnosis devices, it is segmented into thoracentesis, video-assisted thoracic surgery, imaging devices, blood test, and others. Furthermore, imaging devices are segmented into the computed tomography, magnetic resonance imaging, ultrasound, and others. On the basis of the treatment, it is segmented into antibiotics, antifungals, blood thinners, nonsteroidal anti-inflammatory drugs, and others. On the basis of end user, it is segmented into hospital, clinics, diagnostics laboratories, and others.
Key Players
Some of the key players in this market are: Scanlan International, Inc. (U.S.), Sontec Instruments (U.S.), Pilling Surgical Inc. (U.S.), Integra LifeSciences Corporation (U.S.), Olympus Corporation (Japan), Delacroix-Chevalier (France), Myra & Co. (India), Wexler Surgical (Texas) and others.
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