Emphysema is a chronic respiratory disease characterized by damage to the air sacs (alveoli) in the lungs. Emphysema causes shortness of breath, coughing, wheezing and other respiratory problems. Therapeutic drugs for emphysema aim to reduce lung inflammation and help mobilize mucus from the lungs. The drugs include bronchodilators, anti-inflammatory drugs, antibiotics and pulmonary rehabilitation options.
The emphysema market is estimated to be valued at USD 5.15 Bn in 2024 and is expected to reach USD 6.7 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Key Takeaways
Key players operating in the emphysema market are Boehringer Ingelheim GmbH, AstraZeneca plc, GlaxoSmithKline plc, Novartis International AG, F. Hoffmann-La Roche Ltd.
Key opportunities in the Emphysema Market include growing research into new treatments such as lung volume reduction surgery and lung transplants. There have been advancements in minimally invasive procedures, therapeutic drugs development and long-acting bronchodilators to treat symptoms of emphysema.
Technological advancements are being made in lung volume reduction coils and valves which are implanted in the lungs via bronchoscopy to remove the damaged portion of lungs. Long-acting bronchodilators are able to control and prevent symptoms for longer duration. Drug manufacturers are developing more targeted drugs with fewer side effects.
Market Drivers
Rising cigarette smoking levels globally is a major driver for the growth of the emphysema treatment market. Over 1 billion people smoke worldwide and smoking is the primary cause of emphysema development. Growing aging population also supports market growth as emphysema is more common in the older population. Advancements in lung therapies, drugs and devices widens treatment options for physicians and patients managing emphysema, thereby propelling market revenues.
Current Challenges in Emphysema Market
The emphysema market is facing various challenges such as lack of approved drugs for emphysema treatment, long treatment durations, side effects of existing drugs. Developing new drug molecules is a complex process and requires extensive research and development activities. Existing drugs provide only symptomatic relief and do not cure or reverse the condition. Lack of approved regenerative therapies is another major challenge.
SWOT Analysis
Strength: Existing drugs provide symptomatic relief and help improve quality of life. Large player presence results in continuous innovation.
Weakness: Existing drugs do not cure or reverse the condition. Long treatment durations and side effects affect compliance.
Opportunity: Unmet need for regenerative and curative therapies. Scope for development of combination therapies.
Threats: Stringent regulations for approval of new drugs. Risk of failure and high R&D costs. Patent expiries of blockbuster drugs.
The United States accounts for the major share of the global emphysema market due to large disease pool and availability of advanced treatment options. As per estimates, the US market was valued at over $2 Bn in 2020. Western Europe is the second largest market owing to growing elderly population and high healthcare spending.
Asia Pacific is expected to witness the fastest growth during the forecast period owing to improving access to diagnosis and treatment, rising lifestyle diseases, and increasing healthcare expenditure in countries like China and India. China in particular is anticipated to emerge as a high potential market for emphysema treatment over the coming years.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)