Pneumoconiosis Market is Expected to Grow at a CAGR over 6.8% from 2017 to 2023

Market Research Future published a half-cooked research report on global pneumoconiosis market. The global pneumoconiosis market is expected to grow at a CAGR of 6.8% during forecast period.

Pneumoconiosis occurs when a person inhales particles such as asbestos, coal dust, or silica. Some time it may causes inflammation in the lungs. A number of different factors are responsible for causing pneumoconiosis. Global pneumoconiosis market is majorly driven by the increasing prevalence of pneumoconiosis. According to the Centers for Disease Control and Prevention, in 2013, pneumoconiosis was responsible for 260,000 deaths across the globe. Moreover, increasing pollution, changing lifestyle and increasing geriatric population have fuelled the growth of the market. Smoking increases the possibility of the pneumoconiosis, thereby, the rapidly increasing number of smokers has also contributed in the growth of the market. On the other hand, lack of absolute treatment may restrain the market growth.

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Regional Analysis

The Americas dominate the global pneumoconiosis market owing to a large patient population, strong government support for research & development, and high healthcare spending. Smoking increase the risk of causing this disease. According to the Centers for Disease Control and Prevention, in 2015, about 15 in every 100 U.S. adults aged over 18 years smoked cigarettes. Which is estimated around 36.5 million adults in the United States currently smoke cigarettes. Moreover, changing lifestyle and increasing number of smokers has fuelled the growth of the market.

Europe has the second leading market in global pneumoconiosis market which is followed by Asia Pacific. Asia Pacific is the fastest growing market for pneumoconiosis. As per statistics, more than half of the china population smoke. China and India contribute a major share in the Asia Pacific pneumoconiosis market. Increasing geriatric population and increasing air pollution in this region have fuelled the growth of the market.

The Middle East and Africa contribute the least in the growth of global pneumoconiosis market. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Africa holds the least share of the global market due to limited availability of medical facilities and poor economic condition. However the growth of the Africa market is high due to the presence of opportunities for the development of the market.

Segmentation

The global pneumoconiosis market is segmented on the basis of types, causes, therapy, and end users.

On the basis of type, the market is segmented into asbestosis, berylliosis, byssinosis, coal workers pneumoconiosis, silicosis, and others.

On the basis of cause, the market is categorized into organic dusts, non-organic substances, and others. Organic substances are further segmented into hay, malt, mushrooms, and others. Non organic substances are further segmented into sulphur dioxide, ammonia, nitrogen dioxide, and others.

On the basis of therapy, the market is segmented into diagnosis, and treatment. Diagnosis is further segmented into chest X-ray, CT scan, and others. Treatment is further classified into mucolytic agent, antibiotic, and others.

On the basis of end user, the market is segmented into hospital, clinics, and others.

Key Players

The key players for the global pneumoconiosis market Abbott (US) Eli Lilly (US), Sunpharma (India), Sanofi (France), Novo Nordisk (Denmark), Novartis (Switzerland), Abbott (US), AstraZeneca (UK), Merck & Co. (U.S.), Pfizer (U.S.), Svizera Healthcare (India), F. Hoffman La Roche AG (Germany), and Bayer Cropscience Ltd. (U.S.).

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On the other hand, the Middle East & Africa has the least share in the global pneumoconiosis market due to presence of poor economy especially in Africa region. Majority of the market of this region is held by Middle East due to well-developed healthcare sector and huge healthcare expenditure.

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