Malignant Pleural Effusion Market value of US$ 4.5 Billion in 2023
The global malignant pleural effusion market is expected to garner a market value of US$ 4.5 Billion in 2023 and is expected to accumulate a market value of US$ 8.06 Billion by registering a CAGR of 6% in the forecast period 2023-2033. The increasing incidence of pleural effusion disease and rising awareness of advancement in pleural effusions treatment with different types of techniques in the current market works as a driver for the market. The market for Malignant Pleural Effusion registered a CAGR of 4% in the historical period 2017-2022.
Growth of the Malignant Pleural Effusion market can be attributed to the rising burden of various diseases such as cancer and heart failure. The increasing burden of diseases in the United States is expected to create opportunities for the pleural effusions market. The data updated by the American Cancer Society’s Cancer Statistics 2022, nearly 1.9 million new cancer cases are estimated to be diagnosed in the United States in the year 2022.
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In addition to this, the rising prevalence of pleural effusions has been contributing to the market growth. An article published by WebMD LLC in October 2021 stated that approximately 1.5 million pleural effusions are diagnosed in the United States every year and in industrialized countries, the estimated prevalence of pleural effusion is 320 cases per 100,000 people. Therefore, various factors such as awareness in wellness and health along with the research and development activities in the field like emerging novel therapeutics are increasing the efficacy of medicine as well as treatment.
Key Takeaways from the Market Study
- From 2017-2022, the Malignant Pleural Effusion market grew at CAGR of 4%.
- The global Malignant Pleural Effusion market is expected to grow with a 6% CAGR during 2023-2033.
- As of 2033, the Malignant Pleural Effusion market is expected to reach US$ 8.06 Billion
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 45% market share for the Malignant Pleural Effusion market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
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“Various factors such as awareness in wellness and health, the diagnostics, and pathology segment are improving in the developing countries nowadays which grows the therapeutics market. The research and development activities in the field like emerging novel therapeutics, increasing the efficacy of medicine as well as treatment.” says an FMI analyst
Key players in the Malignant Pleural Effusion market are B. Braun SE, Becton, Dickinson and Company, Bicakcilar, Biometrix, Cook Medical, Grena, Redax, Rocket Medical, and Smith Medical.
- In September 2021, BDR Pharma launched BIAPENEM to treat patients with intra-abdominal infections, lower respiratory infections, or complicated urinary tract infections. Biapenem is widely distributed and penetrates well into various tissues (e.g. lung tissue) and body fluids (e.g. sputum, pleural effusion, abdominal cavity fluid).
- In April 2022, the study titled “IFN-γ Combined with T Cells in the Treatment of Refractory Malignant Pleural Effusion and Ascites” was registered in ClinicalTrials.gov for Malignant Pleural Effusion.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global Malignant Pleural Effusion market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of treatment (Systemic Therapy, Therapeutic Thoracentesis, Thoracic Drainage and Pleurodesis, Indwelling Pleural Catheter), End-users (Hospitals, Ambulatory Clinics, Others), diagnosis (Imaging Tests, Pleural Thoracentesis, Pleural Fluid Cytology,Immunohistochemical Tests, Pleural Biopsy, Thoracoscopy/Pleuroscopy) & region.
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Key Segments Profiled in the Malignant Pleural Effusion Industry Survey
- Imaging Tests
- Pleural Thoracentesis
- Pleural Fluid Cytology
- Immunohistochemical Tests
- Pleural Biopsy
By End User:
- Ambulatory Clinics
- Systemic Therapy
- Therapeutic Thoracentesis
- Thoracic Drainage and Pleurodesis
- Indwelling Pleural Catheter
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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