Global Pneumoconiosis Treatment Market - 2022-2029

Global Pneumoconiosis Treatment Market - 2022-2029

Market Overview

The global pneumoconiosis treatment market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Pneumoconiosis is a lung disease that affects kids, construction workers, and other laborers who inhale specific residue types during work. After a while, the residue builds up in the lungs, and the person may believe it is difficult to get enough oxygen. Others may refer to pneumoconiosis as black lung disease or popcorn lung. There are no quick fixes that can make it easier to breathe and go about your daily activities. For the time being, it does not appear. It is not an individual who has spent years ingesting fine mineral or chemical residues, such as silica, coal residue, or asbestos.

Market Dynamics

Increased pneumoconiosis cases and healthcare spending have aided pneumoconiosis market expansion. Furthermore, the prevalence of indoor allergens in industries, the adoption of a sedentary lifestyle, and the chronic intake of smoke or tobacco products are all variables that influence the demand for pneumoconiosis medications.

Increasing smoking population will drive the market growth

Cigarette smoking is still the biggest cause of preventable disease, disability, and death in the United States, accounting for about 480,000 fatalities each year, or around one in every five deaths. In 2020, roughly 13 out of every 100 adults in the United States aged 18 and up (12.5 percent) will have smoked cigarettes. This translates to an estimated 30.8 million adult smokers in the United States. A smoking-related ailment affects more than 16 million Americans. Smoking rates have dropped from 20.9 percent (almost 21 out of 100 adults) in 2005 to 12.5 percent (nearly 13 out of 100 adults) in 2020.

Moreover, the proportion of the world's population aged 60 and up will nearly double from 12 percent to 22 percent between 2015 and 2050.By 2020, the number of persons aged 60 and more will outweigh youngsters under the age of five.By 2050, 80% of the world's elderly will live in low- and middle-income countries.The population is aging at a considerably higher rate than in the past.These factors are likely to boost the pneumoconiosis treatment market.

Lack of efficient therapy is likely to hamper the market growth

Nonetheless, a lack of efficient therapy and a lack of knowledge of the disorders are limiting factors in the market's growth.

COVID-19 Impact Analysis

In collaboration with governments around the world, pharmaceutical and biotech businesses are working to combat the COVID-19 outbreak, from vaccine development to pharmaceutical supply chain planning. Approximately 115 vaccine candidates and 155 compounds are currently being developed in the R&D pipeline. Furthermore, routinely used medications like hydroxychloroquine have shown a huge increase in demand for COVID-19 treatment. Due to the enormous demand for these treatments, manufacturers of COVID-19 management drugs have a lot of prospects, as many wealthy countries are running out of them. As a result of the demand for COVID-19 vaccines and treatment medications, the pharmaceutical and biotechnology sectors are predicted to increase significantly. Due to the enormous demand for these treatments, manufacturers of COVID-19 management drugs have a lot of prospects, as many wealthy countries are running out of them. As a result of the demand for COVID-19 vaccines and treatment medications, the pharmaceutical and biotechnology sectors are predicted to increase significantly. As a result, the worldwide pneumoconiosis therapy market is significantly impacted.

Segment Analysis

The coal workers pneumoconiosis treatment segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Working in coal mines for an extended period of time causes coal worker's pneumoconiosis (CWP), or black lung disease, which causes breathing difficulties and lung scarring.

When a person breaths in coal dust particles that pass into the bronchioles, CWP develops. The dust gets into the alveoli as well. As a result of the dust residues settling in the lungs, the body responds with an inflammatory response in an attempt to remove them. This promotes lung tissue scarring, resulting in pneumoconiosis in coal miners (CWP).

Furthermore, According to NCBI, with 16,658 and 10,072 cases reported in 2016, coal miners' pneumoconiosis (CWP) and silicosis accounted for 95.49 percent of all pneumoconiosis cases. Up to 2015, the overall number of pneumoconiosis cases in employees reached 72,000, with 6000 deaths each year.

Geographical Analysis

North America region holds the largest market share of the global pneumoconiosis treatment market

North America dominated the global coal workers' pneumoconiosis treatment market because of the region's well-established healthcare system and large patient pool. Furthermore, the pneumoconiosis treatment market in North America is driven by rising healthcare spending and several players such as Medtronic and General Electric.

North American region is developing novel treatment .Furthermore, rising death rates increased patient awareness of the about of new pneumoconiosis treatment options. Advanced healthcare infrastructure is expected to drive the growth of the pneumoconiosis treatment market in North America.

Competitive Landscape

The pneumoconiosis treatment market is a highly competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Novartis AG, Boehringer Ingelheim, NGL Fine Chem, USV, Cadila Pharmaceuticals, Shanghai Desano Chem, Aurobindo, Hetero Drugs, Mylan, Glenmark, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Pneumoconiosis Treatment market globally. For instance, In September 2018, The FDA has approved Lupin's generic Atovaquone Oral Solutions USP.

Glenmark Pharmaceuticals Ltd

Overview:

Glenmark Pharmaceuticals Ltd is a generic and specialty medicine manufacturer. The company's R&D efforts aim to develop intellectual property assets that will aid in the treatment of unmet medical requirements. Glenmark's product categories are novel molecular entities, formulations, and API products. Mergers and acquisitions are considered a possible component of the company's operational growth plan for growing its research, development, production, and marketing capabilities.

Product Portfolio:

Atovaquone: Atovaquone is a hydroxynaphthoquinone, or ubiquinone analog, with antibacterial and antipneumocystis properties. It's utilized in antimalarial treatments.

Why Purchase the Report?

Visualize the composition of the global pneumoconiosis treatment market segmentation by type, treatment type, route of administration, distribution channel, and region highlighting the key commercial assets and players.

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