by Pulmonary edema therapeutics are used to treat the excess buildup of fluid in the lungs called pulmonary edema. The condition is caused due to various heart diseases and affects oxygenation in the body. Pulmonary edema therapeutics includes medications that help remove excess fluid from the lungs such as diuretics, morphine, and others. These drugs relieve symptoms of shortness of breath, cough, and fatigue.
The global pulmonary edema therapeutics market is estimated to be valued at US$ 12144.1 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising Prevalence of Heart Diseases (One driver from heading): The rising prevalence of heart diseases such as congestive heart failure, myocardial infarction, and hypertension is expected to drive the growth of the pulmonary edema therapeutics market over the forecast period. Pulmonary edema is a common complication of these heart diseases caused due to backward failure of the heart which increases blood pressure in the lungs. For instance, according to the American Heart Association, in the U.S., around 659,000 die from heart disease each year i.e. one in every four deaths.
Increasing focus on novel drug development (Additional driver): Major players in the market are continuously focusing on developing novel drug candidates for effective treatment of pulmonary edema. For instance, in September 2019, US WorldMeds received FDA approval for its novel drug called Verquvo (vericiguat) to reduce the risk of cardiovascular death and heart failure hospitalization following a heart attack or heart failure. Such approval of innovative drugs is expected to boost the overall market growth over the forecast period.
SWOT Analysis
Strength: Pulmonary edema therapeutics market has witnessed strong growth in the past few years owing to the rising prevalence of chronic lung diseases like asthma, pneumonia, bronchitis etc. Many new drugs are under pipeline which are expected to receive FDA approvals in coming years. Researchers are working on developing more effective drugs with novel mechanisms of action and fewer side effects.
Weakness: Development of new drugs is a complex, costly and time-consuming process. Several drugs fail during clinical trials despite showing promise in pre-clinical research. Generic competition erodes profit margins of established brands. Adherence to treatment is a challenge for many patients with pulmonary edema.
Opportunity: Rising geriatric population is increasing the risk of pulmonary diseases globally. Developing economies in Asia Pacific and Latin America are expected to drive future demand as healthcare infrastructure and diagnosis rates improve. Various guideline updates by medical associations can further boost treatment-seeking rates.
Threats: pricing pressures from regulatory bodies and payers, Stringent regulations for clinical trials and product approvals, preference for alternative treatment methods like physiotherapy poses threats. Unfavorable changes in healthcare policies and reimbursement scenarios can also impact growth.
Key Takeaways
The Global Pulmonary Edema Therapeutics Market Demand is expected to witness high growth. The global pulmonary edema therapeutics market is estimated to be valued at US$ 12144.1 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030.
North America currently dominates the global market and is expected to maintain its leading position over the forecast period. This can be attributed to growing incidences of chronic respiratory diseases, rising healthcare spending, availability of advanced healthcare facilities and presence of major players in the region.
Asia Pacific is poised to witness fastest growth owing to increasing healthcare awareness, large patient pool, improving access and rising income levels in developing economies like India and China. Rapid expansion of healthcare sector in these countries will offer ample opportunities for pulmonary edema drugs manufacturers during the forecast period.
Key players operating in the Pulmonary Edema Therapeutics market are Crayola LLC, Faber-Castell AG, Sargent Art, Reeves (Colart Group), Liquitex (Colart Group).
