The Global Emphysema Market is rising continually, mainly due to the rising prevalence of the condition. The market appears well-developed due to the availability of many novel treatments and therapeutics. Also, there are various capable medical devices available in the market for the diagnosis and treatment of Emphysema. The increasing access to the diagnostic services for respiratory illness also fuels the growth of the market.
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According to Market Research Future (MRFR), the global Emphysema market is poised to register a CAGR over 6.1% throughout the forecast period, creating a substantial revenue pocket by the end of 2023. Rising cases of respiratory diseases such as chronic bronchitis and COPD drive the growth of the market, predominantly.
Moreover, technological advancements are fostering the market growth, improving various tests diagnosis procedures such as imaging tests, including chest X-ray & CT scan and the lung function test, among others. Also, spreading awareness towards the availability of effective Emphysema treatments impacts the growth of the market, positively. Simultaneously, favorable reimbursements procedures and health insurance provide additional traction to market growth.
Additionally, factors such as smoking and environmental pollution foster the market, increasing the prevalence of the condition. On the other hand, lack of expertise required to manage the disease is a major factor restricting the growth of the market.
Global Emphysema Market – Segments
The report is segmented into five market dynamics to widen the scope of understanding,
By Type : Centrilobular and Panlobular Emphysema.
By Diagnosis : Imaging Test (X-Ray, CT scan) and Lung Function Test, among others.
By Treatment : Medication (Antibiotics, Bronchodilators, others), Therapy, and Surgery, among others.
By End-user : Hospitals & Clinics and Surgical Centers, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Emphysema Market – Regional Analysis
North America leads the global Emphysema market due to the increasing prevalence of the condition. The presence of well-developed healthcare sectors and several major players, alongside, the high healthcare spending fosters the growth of the market. Besides, increasing government support for research & development, rising numbers of imaging test & lung function test conducted for the diagnosis of the condition and huge COPD population base, commutatively drive the growth of the market.
The Emphysema market in the US accounts for the largest market in the region due to the availability of technologically advanced devices for diagnosis and treatment options of respiratory diseases. Canada market is expected to be the fastest-growing due to the overall demand for diagnostic medical devices and the progress in the medical device sector.
The European region takes the second lead in the global Emphysema market. Factors driving the regional market growth include increasing emphasis on the diagnosis of chronic respiratory conditions such as the COPD & asthma and increasing focus on research and development activities for the treatment of respiratory diseases.
The Asia Pacific Emphysema market is increasing owing to the increasing government support for the R&D activities required for the discoveries of breakthrough treatment and medicines for various lung diseases. Besides, the increasing focuses on early diagnosis and treatment of lung diseases also attribute to the growth of the regional market.
Additionally, rising per capita healthcare expenditures and rapidly increasing awareness about the availability of the treatment for Emphysema conditions are some of the factors driving the growth in the regional market. Furthermore, massive demand for lung function test & other diagnostic tests driven by the rising environmental pollution & exposure to harmful chemicals contributes to the regional market growth.
Global Emphysema Market – Competitive Analysis
Highly competitive, the Emphysema market appears to be widely expanded due to the presence of numerous players. Due to the expected extensions in products & services, the competition in the market is expected to intensify further.
Players leading the global Emphysema market, include Pulmonx Inc., Intrexon Corporation, Halozyme Therapeutics, Inc., PneumRx, Mariposa Health Limited, Uptake Medical Corporation, Pfizer, Inc., Icure Pharmaceuticals, Inc., BTG International’s, Kamada Limited, Olympus Corporation, and Emphasys Medical, Inc., among others.
Industry/ Innovation/ Related News
July 26, 2019 —- UnityPoint Health (the US), a network of hospitals, clinics, and home care services, announced its partnership with VIDA Diagnostics, Inc. (the US), a Lung-care AI company. UnityPoint Health has also confirmed an investment of USD 1 MN to fine-tune and broaden the use of VIDA’s AI software for flagging signs of trouble in lung images. VIDA offers imaging services such as detection, evaluation, and treatment of pulmonary diseases. VIDA’s primary product, called LungPrint, automatically analyzes chest CT scans for pulmonary conditions such as Emphysema and interstitial lung disease.
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