Press release
Black Lung Disease Market Report 2024: Strategies And Recent Developments | Pfizer Inc., Johnson and Johnson, Siemens AG, General Electric, F. Hoffmann-La Roche AG
Black Lung Disease Market Size
The Business Research Company offers in-depth market insights through Black Lung Disease Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The black lung disease market size has grown rapidly in recent years. It will grow from $8.44 billion in 2023 to $9.66 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to coal mining industry growth, awareness and education, compensation and benefits, legislative and legal developments.
The black lung disease market size is expected to see rapid growth in the next few years. It will grow to $16.7 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to public health initiatives, medical advancements, increasing treatment options, advocacy and support organizations. Major trends in the forecast period include advanced diagnostic techniques, research and prevention, healthcare access, technological advancements.
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Market Segmentation:
The main types of black lung disease are simple coal workers' pneumoconiosis, complicated coal workers' pneumoconiosis and others. Simple coal worker's pneumoconiosis (CWP), also known as simple black lung disease, is a lung condition caused by the inhalation of coal dust over an extended period. The various treatment includes oxygen therapy, bronchodilators, lung transplant, stem cell therapy and others and involves various diagnoses such as biopsy, imaging, full blood count, pulmonary or lung function tests, physical examination and others. These are used by various end-users such as hospitals and clinics, research organizations and academic institutes, diagnostic centers and labs and others.
Major Driver - Mining Industry Expansion Fuels The Prevalence Of Black Lung Disease
The increasing mining activities are expected to propel the growth of the black lung disease market going forward. Mining activities involve extracting valuable minerals, ores and other geological materials from the earth's crust. Black lung disease is caused by mining activities and inhaling coal mine dust, which contains dangerous carbon-containing particles and affects coal miners. For instance, in January 2022, according to the United States Geological Survey, a US-based water, earth and biological science and civilian mapping agency, global silver mine production climbed marginally in 2021, rising from 23,500 tons in 2020 to an expected 24,000 tons. Therefore, increasing mining activities are driving the growth of the black lung disease market.
Competitive Landscape:
Major players in the black lung disease market are Pfizer Inc., Johnson and Johnson, Siemens AG, General Electric, F. Hoffmann-La Roche AG, Merck and Co. Inc., Bayer AG, Novartis AG, Sanofi S.A., AstraZeneca PLC, Melinta Therapeutics LLC, GlaxoSmithKline PLC, Medtronic PLC, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Toshiba Corporation, Koninklijke Philps N.V., Mayo Clinic, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Perrigo Lab India Pvt. Ltd., Aurobindo Pharma Limited, Hikma Pharmaceuticals PLC, Lupin Limited.
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Top Trend - Government Funding Boosts Black Lung Disease Market And Miner Welfare
Government funding initiatives are expected to propel the growth of the black lung disease market. Government funding refers to financial resources a government provides, typically at the federal, state, or local level, to support various activities, programs, projects, initiatives, or organizations serving public interests or fulfilling government objectives. Government authorities are implementing specific regulations and initiatives to protect coal miners from black lung disease. For instance, in September 2022, according to the US Department of Labor Blog, a US-based government authority, funding for miners with black lung disease was permanently extended with the Inflation Reduction Act of 2022. Through this act, the US government aims to help and secure miners' families suffering from black lung disease by providing federal black Lung benefits. Therefore, government funding initiatives are driving the black lung disease market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Black Lung Disease Market Characteristics
3. Black Lung Disease Market Trends And Strategies
4. Black Lung Disease Market - Macro Economic Scenario
5. Black Lung Disease Market Size And Growth
…..
27. Black Lung Disease Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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