|12-07-2018 12:28 PM CET - Business, Economy, Finances, Banking & Insurance||
Black Lung Disease Market Expected to Grow at CAGR of 6.9% by 2023
Press release from: Market Research Future
PR Agency: Market Research Future
Market Research Future has recently added another market study to its extensive research portfolio, titled “Black Lung Disease Market Research Report - Forecast to 2023”. The report offers intelligent insights and uses thorough examination of market factors to gauge market size and development.
Black lung disease or coal workers' pneumoconiosis is caused by long exposure to coal dust and is commonly diagnosed in many of the coal miners. The medical condition is characterized by a progressive building of the inhaled coal dust in the lungs, which may lead to inflammation, fibrosis, necrosis, and others. Increasing prevalence of black lung disease is one of the major drivers of market growth during the forecast period. According to the 2005-2016 report of the Health and Safety Executive, it was estimated that the average number of new cases for black lung disease was 25 (on a yearly basis). Moreover, increasing mining activities, increasing research and development expenses, and rising healthcare expenditures boost the market growth. In 2015, according to the Office for National Statistics, the total healthcare expenditure was estimated to about USD 271 billion within U.K.
However, factors such as lack of awareness, limited availability of medicinal treatment options followed by the high cost of surgical therapeutics including lung transplantation and stem cell therapy are estimated to restrain the market growth during the forecast period. In 2016, the average cost of lung transplantation was expected to be around USD 111, 618.
Global Black Lung Disease Market is expected to grow at an Approximate CAGR of 6.9% during the Forecast Period.
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Key players in global black lung disease
The key players for the Global Black Lung Disease Market are Boehringer Ingelheim International GmbH (Germany), GlaxoSmithKline plc (U.K), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), AstraZeneca (U.K), Koninklijke Philips N.V. (The Netherlands), GENERAL ELECTRIC (U.S.), Siemens AG (Germany), TOSHIBA CORPORATION (Japan), Medtronic (U.S.), and others.
The Global Black Lung Disease Market is segmented by the type, diagnosis, treatment, and end-user.
On the basis of the type, the market is segmented into simple coal worker’s pneumoconiosis, complicated coal worker’s pneumoconiosis, and others. On the basis of the diagnosis, the market is segmented into biopsy, imaging, full blood count, pulmonary/lung function tests, physical examination, and others. The imaging segment is segmented into CT, X-ray, and others. On the basis of the treatment, the market is segmented into oxygen therapy, bronchodilators, lung transplant, stem cell therapy, and others. On the basis of the end users, the market is segmented into hospitals & clinics, research organizations & academic institutes, diagnostic centers & labs, and others.
The Americas dominate the global black lung disease market owing to a well-developed healthcare sector and huge patient population. Moreover, increasing healthcare expenditure and presence of the key players like GENERAL ELECTRIC and Medtronic within the regions boosts the growth of the market in the Americas. Additionally, developed economies of the region like U.S. and Canada boost.
Europe is the second largest market for black lung disease and is followed by Asia Pacific. Rising government support, huge patient population, and rising healthcare expenditure are some of the major drivers for market growth within the region. On a regional basis, the European black lung disease market is segmented into Western Europe and Eastern Europe. Western Europe is estimated to lead the regional market due to the presence of developed economies like Germany, U.K, France, and others within the region.
Asia Pacific is the fastest growing region for the black lung disease market. Factors such as the presence of a huge patient population, continuously developing healthcare sector, and rising healthcare expenditure drives the market growth within the region. In 2017, a study published in the International Journal of Environmental Research and Public Health journal stated that the number of new cases for pneumoconiosis was about 26,873 in 2014, of which about 13,846 (51.52%) accounted for black lung disease.
The Middle East & Africa has the least share in the global black lung disease market. Presence of poor economies, lack of a developed healthcare sector, stringent government policies, and lack of awareness of the disease, restrain the market growth, especially within the Africa region. A majority of the market of this region is held by the Middle East.
TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
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