Pulmonary Embolism Treatment Market : Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Healthcare & Pharmaceutical
Request PDF Sample Request Discount- Status : Published
- Published on: Feb 2023
- Report ID: KDMI-7151
- Available Format: PDF/Excel/DOC
COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Pulmonary Embolism Treatment Market
Request PDF SamplePulmonary Embolism Treatment Market Insights:
A pulmonary embolism (PE) is a blockage of an artery within the lungs that are typically caused by a grume that has traveled from another part of the body, most ordinarily the legs. PE may be a serious medical emergency that needs immediate treatment. If left untreated, it can cause complications like lung damage, low oxygen levels, and even death. Symptoms of PE can include sudden shortness of breath, pain, coughing (sometimes with blood), rapid heartbeat, and lightheadedness. In some cases, people with PE might not experience any symptoms. The diagnosis of PE are often confirmed through imaging tests like computerized tomography (CT) scans, ventilation-perfusion (V/Q) scans, or pulmonary angiography.
Treatment for PE typically involves blood-thinning medications (anticoagulants) to stop the formation of the latest blood clots and to dissolve existing clots. In severe cases, surgical intervention could also be necessary to get rid of the clots. Patients can also receive oxygen therapy to assist them to breathe and alleviate symptoms.
Pulmonary Embolism Treatment Market Size
The global PE treatment market size was valued at $3.5 billion in 2021 and is predicted to grow at a compound annual rate of growth (CAGR) of 5.9% from 2022 to 2032 to succeed in a worth of $6.6 billion.
Pulmonary Embolism Treatment Market
The global PE treatment market is predicted to grow significantly within the coming years, driven by factors like the rising incidence of embolism, increasing awareness about the disease, advancements in diagnostic and treatment options, and therefore the rising incidence of deep vein thrombosis (DVT), which may be a major risk factor for PE. The market is additionally being driven by technological advancements in diagnostic techniques and therefore the introduction of the latest and most effective treatments.
The anticoagulants segment accounted for the most important share of the market in 2020 and is predicted to take care of its dominance throughout the forecast period. North America dominated the market in 2020, accounting for the most important revenue share, followed by Europe. The Asia Pacific region is predicted to witness significant growth during the forecast period thanks to the increasing prevalence of PE within the region. The market is very competitive, with several players offering a variety of diagnostic and treatment options. Key players in the market include Johnson & Johnson, Boehringer Ingelheim, AstraZeneca, and Pfizer.
Pulmonary Embolism Treatment Market Latest Trends:
There are several trends currently shaping the market for the diagnosis and treatment of PE:
- Increasing adoption of minimally invasive diagnostic techniques: There has been a shift towards the utilization of minimally invasive diagnostic techniques, like computerized tomography (CT) angiography and ventilation-perfusion (V/Q) scintigraphy, thanks to their high accuracy and therefore the ability to supply a rapid diagnosis.
- The growing use of advanced treatment options: There has been a rise in the use of advanced treatment options, like pharmacomechanical thrombolysis and thrombectomy, which are shown to be effective in the treatment of PE.
- Development of novel therapies: There are several new therapies in development for the treatment of PE, including novel anticoagulants and thrombolytic agents. These therapies have the potential to enhance patient outcomes and will drive market growth in the future.
- Rising prevalence of risk factors: The incidence of risk factors for PE, like DVT and obesity, is increasing, which is driving demand for diagnosis and treatment of the condition.
- Increasing awareness of PE: There has been a growing awareness of the symptoms and risks of PE, which is resulting in a rise in the number of patients seeking diagnosis and treatment.
Pulmonary Embolism Treatment Market Key Drivers:
Several factors are driving the market for the diagnosis and treatment of PE:
- The global increase in the aging population: The worldwide population is aging, and older people are more in danger of developing PE due to factors like reduced mobility and therefore the use of medicines which in turn increase the danger of blood clots.
- Sedentary lifestyles and obesity prevalence: Increasingly sedentary lifestyles, like people who involve long periods of sitting or standing, can increase the danger of developing blood clots and subsequently PE. This can also lead to the global prevalence of obesity, and obesity is additionally a serious risk factor for PE.
- Increasing prevalence of PE: The rising incidence of PE is one of the main drivers of the market. The danger of developing embolism increases with age, obesity, immobility, surgery, and cancer. With an aging population and increasing rates of obesity and cancer, the prevalence of embolism is predicted to still rise which create enough room for market growth.
- Technological advancements in diagnosis and treatment: Advances in diagnostic tools and treatment options have improved patient outcomes and increased the demand for embolism treatment. For instance, new imaging techniques like CT angiography and MRI have improved the accuracy of diagnosis, while new anticoagulant drugs like direct oral anticoagulants (DOACs) have made treatment simpler and more convenient. The market is also being driven by the introduction of the latest and most effective treatments for PE, like pharmacomechanical thrombolysis and thrombectomy.
- Increasing awareness among healthcare professionals and patients: Awareness of the signs and symptoms of embolism, and the importance of early diagnosis and treatment, has increased the demand for PE treatment. This has been driven by initiatives from patient advocacy groups, medical societies, and government agencies to extend awareness of embolism and its potential consequences.
- Growing healthcare expenditure: Rising healthcare expenditure, particularly in developing countries, has increased access to medical aid in the case of PE. This has led to increased demand for embolism treatment options, as patients are more likely to hunt medical aid once they have access thereto.
- Favorable reimbursement policies: Favorable reimbursement policies for PE treatment have increased patient access to treatment and driven market growth. Governments and personal insurers have implemented policies that provide coverage for embolism diagnosis and treatment, which has increased the demand for these services.
Pulmonary Embolism Treatment Market Segmentation:
The market for the diagnosis and treatment of PE can be segmented based on the following factors:
- By diagnostic techniques: Computed Tomography (CT) Angiography, Ventilation-Perfusion (V/Q) Scintigraphy, Ultrasonography
- By treatment options: Anticoagulant Therapy, Thrombolytic Therapy, Pharmacomechanical Thrombolysis, Thrombectomy
- By end-users: Hospitals, Diagnostic Centers, Ambulatory Surgical Centers
- By risk factors: Deep Vein Thrombosis (DVT), Obesity
- By geography: North America, Europe, Asia, Latin America, Middle East, and Africa
Pulmonary Embolism Treatment Market Regional Synopsis
North America is the largest market for pulmonary embolism treatment, driven by high healthcare expenditure, increasing prevalence of PE, and the availability of advanced diagnostic tools and treatment options. The market in North America is expected to grow at a CAGR of 5.1% during the forecast period (2021-2028) with the size estimated to be $1.5 billion in 2020, with a market share of approximately 38%. The market value is expected to reach $2.1 billion by 2028. Europe with a strong focus on research and development of new treatment options is home to a large number of key players in the PE treatment market. The European market is expected to grow at a CAGR of 4.8% during the forecast period (2021-2028). From an estimated size of $1.1 billion in 2020 and a market share of approximately 27%, the market value is expected to reach $1.6 billion by 2028.
The Asia-Pacific region is a growing market for PE treatment, driven by increasing healthcare expenditure, rising awareness of the condition, and a growing elderly population. Growing at a CAGR of 6.3% (2021-2028), the market is expected to reach $1.2 billion by 2028 from the estimated valuation of $690 million in 2020 which was a market share of approximately 17%.
The PE treatment market in Latin America is expected to grow at a CAGR of 5.5% (2021-2028) to gain a market worth of $470 million by 2028. The market size is estimated to be $300 million in 2020, with a market share of approximately 7%. Growing at a CAGR of 5.9% (2021-2028), the Middle East and African market is expected to reach $270 million by 2028 from the estimated valuation of $170 million in 2020 which was a market share of approximately 4%. Limited access to healthcare and lower levels of awareness may be barriers to market growth in some areas, but increasing healthcare expenditure and a growing elderly population are expected to drive demand for pulmonary embolism treatment in these two regions.
Pulmonary Embolism Treatment Market Key Challenges:
There are several challenges facing the market for the diagnosis and treatment of PE:
- Availability of other treatments: In some cases, alternative treatments like mechanical thrombectomy or surgical embolectomy could also be simpler than anticoagulant medications for treating embolism.
- High cost of diagnostic tests: Some diagnostic tests, like CT angiography, are often expensive and should not be readily available or covered by insurance altogether regions.
- High cost of treatment: the value of embolism treatment, including hospitalization, diagnostic tests, and medications, are often high which may limit access to worry for a few patients, particularly those without insurance or with limited financial resources.
- Lack of awareness: In some areas, there could also be a scarcity of awareness of the symptoms and risks of PE, which may delay diagnosis and treatment.
- Limited availability of diagnostic facilities: In some regions, access to diagnostic facilities could also be limited, which may hinder the diagnosis and treatment of PE.
- Limited treatment options: In some cases, there could also be limited treatment options available, particularly in resource-poor settings.
- Resistance to treatment: In some cases, patients could also be immune to treatment or might not adhere to treatment regimens, which may hinder the effectiveness of treatment.
- Risk of complications: Some treatments for PE, like therapy, carry a risk of complications, including bleeding. this will be a barrier to treatment in some cases.
- Side effects of anticoagulant medications: Anticoagulant medications, which are the first treatment for embolism, can cause side effects like bleeding and bruising.
Pulmonary Embolism Treatment Market Key Players:
There are several key players in the market for the diagnosis and treatment of PE:
- Bayer AG: Bayer is a prominent player in the global market for pulmonary embolism treatment and offers anticoagulant medications like Xarelto (rivaroxaban) and Kogenate (octocog alfa).
- Boehringer Ingelheim GmbH: Boehringer Ingelheim is active in the PE treatment market and offers anticoagulant medications like Pradaxa (dabigatran).
- Bristol-Myers Squibb Company: Bristol-Myers Squibb is active in the market and offers products for pulmonary embolism treatment, including Eliquis (apixaban) and Plavix (clopidogrel).
- Daiichi Sankyo Company, Limited: Daiichi Sankyo is another major player in the market, which offers anticoagulant medications like Pradaxa (dabigatran) and Savaysa (edoxaban).
- Johnson & Johnson: Johnson & Johnson is a global healthcare company that offers a range of products for PE treatment, including anticoagulant medications like Xarelto (rivaroxaban).
- Pfizer Inc.: Pfizer offers a range of anticoagulant medications for PE treatment, including Eliquis (apixaban) and Fragmin (dalteparin).
- Sanofi S.A.: Sanofi offers anticoagulant medications like Lovenox (enoxaparin) and Arixtra (fondaparinux) for embolism treatment.
FAQ
Custom Research Requirement? Questions to ask?
Get in touchCustom Research requirement.