Global Pneumoconiosis Market – Industry Trends and Forecast to 2029

Market Analysis and Size                              

According to studies, smoking raises the risk of pneumoconiosis; more than 60% of the world's population smokes, increasing the danger of pneumoconiosis and contributing to the market's rise. Pneumoconiosis is a lung disease caused by dust inhalation that is both restricting and occupational. There are a variety of substances that can induce pneumoconiosis when ingested. The disorders are caused by both organic and inorganic factors. Pneumoconiosis is incurable. Following a diagnosis, treatment focuses on preventing the condition from worsening and controlling your symptoms.

Data Bridge Market Research analyses that the pneumoconiosis market was valued at USD 235.85 million in 2021 and is expected to reach USD 414.41 million by 2029, registering a CAGR of 7.30% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

When a person breaths in dust particles such as asbestos, coal dust, or silica, pneumoconiosis can develop. If these particles get into the lungs' airways or air sacs, the body will try to fight them off by inflaming them. Because there is currently no cure for pneumoconiosis, treatment focuses on symptom management and preventing the disease from worsening. The treatment plan for this condition include oxygen therapy, bronchodilator, antibiotics and mucolytic agent. Emergence of problems associated with breathing is treated by the administration of bronchodilators while corticosteroids can help with inflammation.

Pneumoconiosis Market Dynamics

Drivers

• High prevalence rate of smoking

The rise in prevalence rate of smoking across the globe will act as a major driver that will result in the expansion of the growth rate of the market. In the United States, cigarette smoking is the leading cause of preventable disability, disease, and even death, accounting for around 480,000 deaths each year. In the United States, nearly 13 out of every 100 persons aged 18 and up (12.5 percent) have smoked cigarettes in 2020. In the United States, this amounts to an estimated 30.8 million adult smokers. More than 16 million Americans suffer from a smoking-related disorder. Smoking rates have decreased from 20.9 percent in 2005 (almost 21 out of 100 individuals) to 12.5 percent in 2020 (nearly 13 out of 100 adults).

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of pneumoconiosis market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

• Surging number of geriatric population

The increasing number of geriatric population is anticipated to enhance the market’s growth rate. Between 2015 and 2050, the share of the world's population aged 60 and up will nearly double, from 12% to 22%. By 2020, the number of people over 60 have outnumber children under the age of five. By 2050, low- and middle-income countries will house 80 percent of the world's elderly. The population is ageing at a far faster rate than in previous generations. These reasons are expected to drive the market for pneumoconiosis treatment.

Furthermore, surging number of government initiatives to spread awareness will result in the expansion of pneumoconiosis market. Along with this, changing lifestyle of people and growing government favourable initiatives will enhance the growth rate of the market.

Opportunities

• Increase in the number of research and development activities       

Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the pneumoconiosis market growth.

Moreover, the market's growth is fueled by investment for the development of advanced technologies and increase in the number of emerging markets. These factors will provide beneficial opportunities for the pneumoconiosis market growth.

Restraints/Challenges

On the other hand, the high cost associated with the symptomatic treatment will obstruct the growth rate of pneumoconiosis market during the forecast period of 2022-2029. The lack of healthcare infrastructure in developing economies and strict government regulations will challenge the pneumoconiosis market. Additionally, lack of awareness among people and the dearth of efficient therapy will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This pneumoconiosis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pneumoconiosis market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

Pneumoconiosis market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

COVID-19 Impact on Pneumoconiosis Market

The fast spread of coronavirus caused the COVID-19 pandemic outbreak. The transmission of this virus has a significant impact on many parts of the globe. Pharmaceutical and biotech sector, in collaboration with governments throughout the world, are working to combat the COVID-19 pandemic, from vaccine development to logistics planning. In the R&D pipeline, there are around 115 vaccine candidates and 155 compounds. Furthermore, routinely used medications namely hydroxychloroquine have shown a significant increase in demand for COVID-19 treatment. Because many affluent countries were experiencing a shortage of these medications, the increasing demand has provided enormous prospects for COVID-19 management drug manufacturers. As a result of the high demand for vaccines and treatment medications for COVID-19, the pharmaceutical and biotechnology industries are expected to increase significantly in the future. As a result, the market for pneumoconiosis is projected to be significantly impacted.

Global Pneumoconiosis Market Scope

The pneumoconiosis market is segmented on the basis of type, treatment, diagnosis, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Asbestosis
• Berylliosis
• Byssinosis
• Coal Workers Pneumoconiosis
• Silicosis
• Others

Treatment

• Mucolytic Agent
• Antibiotic
• Oxygen Therapy
• Bronchodilator
• Others

Diagnosis

• Biopsy
• Chest X-ray
• CT Scan
• Physical Examination
• Pulmonary Function Studies

Route of Administration

• Oral
• Inhalational
• Others

End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

Pneumoconiosis Market Regional Analysis/Insights

The pneumoconiosis market is analysed and market size insights and trends are provided by country, type, treatment, diagnosis, route of administration, end-users and distribution channel as referenced above.

The countries covered in the pneumoconiosis market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the pneumoconiosis market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing demand for specific treatment and rising healthcare expenditure will further propel the market’s growth rate in this region. Additionally, presence of major key players and rise in adoption of newer technologies will further propel the market’s growth rate in this region.

Asia-Pacific is expected to be the fastest growing region during the forecast period of 2022-2029 due to growing cases of pneumoconiosis in this region. Also, development of healthcare infrastructure and rising government initiatives will further propel the market’s growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Pneumoconiosis Market Share Analysis

The pneumoconiosis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pneumoconiosis market.

Some of the major players operating in the pneumoconiosis market are:

• Pfizer Inc. (U.S.)
• GlaxoSmithKline plc (U.K.)
• Novartis AG (Switzerland)
• Mylan N.V. (U.S.)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Sanofi (France)
• AstraZeneca (U.K.)
• Johnson & Johnson Private Limited (U.S.)
• Merck & Co., Inc. (U.S.)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Baxter (U.S.)
• Bayer AG (Germany)
• Hikma Pharmaceuticals PLC (U.K.)
• Eli Lilly and Company (U.S.)
• Sun Pharmaceutical Industries Ltd. (India)
• Aurobindo Pharma (India)
• Lupin (India)
• Melinta Therapeutics LLC (U.S.)
• Torrent Pharmaceuticals Ltd. (India)
• Allergan (Ireland)

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