Emphysema Market – Overview
The global emphysema market is anticipated to expand at a promising rate from 2021 to 2031. The high frequency of respiratory disorders such as emphysema, chronic bronchitis, and others and the high demand for treatment such as smoking cessation medications and antibiotics are expected to drive the worldwide emphysema market. Moreover, the increasing availability of diagnostic services for respiratory illnesses is projected to support the global emphysema market growth.
As per the World Health Organization, chronic obstructive pulmonary disease (COPD) impacts over 210 million people worldwide, which is linked to an increasing number of tobacco smokers. Such aspects are anticipated to propel the global emphysema market during the forecast period.
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Emphysema Market – Competitive Landscape
Prominent players in the global emphysema market are Mariposa Health Limited, Intrexon Corporation, Pulmonx Inc., Pfizer, Inc., PneumRx, Uptake Medical Corporation, Halozyme Therapeutics, Inc., Icure Pharmaceuticals, Inc., BTG International’s, Kamada Limited, Olympus Corporation, Emphasys Medical, Inc. and others.
Major market players are actively pursuing inorganic market strategies such as collaborations, technological innovations, investments, acquisitions, and R&D activities to expand and strengthen their worldwide presence.
Emphysema Market – Trends and Opportunities
Cigarette smoking is among the leading causes of emphysema. According to a study conducted by the American Lung Association (ALA), cigarette smoking alone was responsible for 85–90% of all chronic obstructive pulmonary diseases (COPDs) in 2019. It weakens the lungs’ ability to fight infections. As a result, increased smoking, rising air pollution, and the development of chronic lung disorders are expected to boost the global emphysema market. Moreover, the World Health Organization (WHO) reported that roughly 251 million individuals worldwide suffered from COPD in 2017. According to the WHO, these figures will continue to rise as a result of factors such as a spike in the number of urban populations, changing lifestyles, a rise in the number of tobacco smokers, and increasing pollution levels.
As a result, governments around the world are launching public awareness campaigns to educate the public about the existence of safe emphysema treatment and diagnosis options.
The outbreak of the COVID-19 pandemic wrecked the worldwide economy. As per the Centers for Disease Control and Prevention, those with COPD, particularly emphysema and chronic bronchitis (CDC), are at a greater risk of getting a serious disease from COVID-19. Thus, the global emphysema market witnessed growth amid the COVID-19 pandemic.
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Emphysema Market – Regional Landscape
The North America emphysema market is expected to be driven by the rising use of imaging tests and lung function tests for disease diagnosis and a large population base diagnosed with COPD. Moreover, the United States is projected to contribute to the emphysema market in North America due to the existence of a significant number of market participants manufacturing emphysema drugs and rising awareness regarding risk factors and incidences of the disease. Furthermore, according to the American Lung Association, COPD is the fourth-largest cause of death in the United States. Canada is expected to witness growth owing to rising demand for diagnostic medical equipment and advancements in the medical device sector.
The emphysema market in Europe is projected to grow due to increased focus on the diagnosis of chronic respiratory problems such as asthma and COPD and a greater emphasis on research & development efforts for the treatment of respiratory diseases. Moreover, the United Kingdom and Germany are expected to experience growth in the regional market.
The Asia Pacific emphysema market is anticipated to expand due to a high need for lung function tests and other diagnostic tests and a growing emphasis on the early identification and treatment of lung disorders. Other factors that are likely to contribute to the regional market growth include lifestyle changes, the influence of Western culture on adults, and smoking addiction.
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