The market for treatments related to malignant pleural effusion (MPE), a fluid buildup around the lungs caused by cancer, is projected for significant growth. A new report forecasts the global Malignant Pleural Effusion Market to reach a substantial USD 8.06 billion by 2033. This translates to a steady compound annual growth rate (CAGR) of 6% during the forecast period (2023-2033), starting from a market value of USD 4.5 billion in 2023.
According to the Future Market Insights historical analysis, the global malignant pleural effusion market registered a CAGR of 4% from 2018 to 2022. The growth of the market in the current evaluation period is expected to fuel due to the increasing incidence of pleural effusion disease and rising awareness of advancement in pleural effusion treatment with different types of techniques.
Clinical examinations and procedures are rapidly carried out to diagnose the condition, which helps various medical professions in making additional and efficient decisions about medicine, testing, and recuperations. Such aforementioned factors are likely to accelerate market expansion throughout the projection period. Recent epidemiological data from WHO suggest that approximately more than one million pleural effusions are diagnosed in the United States each year.
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Numerous factors such as awareness and health, diagnostics, and pathology segments are improving in 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. In addition to that, selling campaigns initiated by global players are growing the market progressively. Increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of pleural effusions is fuelling market growth.
Report Highlights
The surging prevalence of malignant pleural effusion disease is one of the greatest drivers of the global malignant pleural effusion market. Various types of research were conducted over recent years, to find a correlation between the virus infection and pleural effusion.
The expensive treatment of Malignant Pleural Effusion, less awareness of Malignant Pleural Effusion disease, and insubstantial treatment options are hampering the market growth.
Malignant Pleural Effusion Market Recent Developments
The article “Prevalence and Clinical Outcomes of Pleural Effusion in Covid-19 Patients: A Systematic Review and Meta-Analysis” published in January 2022 showed that pleural effusion is related to the risk and prognosis of Covid-19 disease.
Pleural effusion is likely to be utilized as a prognostic indicator to assess the likelihood of poorer outcomes within sick patients. As a result, the researchers of the above-mentioned research article advised that hospitalized COVID-19 patients with pleural effusion be handled promptly. Considering these in-depth studies, the pandemic showed a considerable impact on the market studied.
Malignant Pleural Effusion Market Competitive Landscape
Key players operating in the global malignant pleural effusion market comprise of Allakos, iCo Therapeutics, Akari Therapeutics, and Santen.
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 into the Malignant Pleural Effusion Market
The Asia Pacific region is anticipated to dominate the global malignant pleural effusion market over the assessment period. The region is expected to grow with a CAGR of 5%. The growth of the market is likely to surge owing to the increasing awareness, significant increases in healthcare spending, and a rising frequency of malignant pleural effusion in the region.
Asia Pacific is a dominant market due to the increase in point care approach to health & care. An increasing number of hospitals in India and China makes a promising market for the Pleural effusions treatment market worldwide.
The North American region is likely to acquire a market share of about 45% during the assessment period. The growth is attributed to the rising prevalence of pleural effusions in the region. 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.
Malignant Pleural Effusion Market Key Segments:
By Diagnosis:
- Imaging Tests
- Pleural Thoracentesis
- Pleural Fluid Cytology
- Immunohistochemical Tests
- Pleural Biopsy
- Thoracoscopy/Pleuroscopy
By End User:
- Hospitals
- Ambulatory Clinics
- Others
By Treatment:
- Systemic Therapy
- Therapeutic Thoracentesis
- Thoracic Drainage and Pleurodesis
- Indwelling Pleural Catheter
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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