Asbestosis Treatment Market Size & Share, by Type (Chrysolite, Amosite, Crocidolite); Mechanism Of Action (Bronchodilators, Expectorants, Antibiotics, Corticosteroids, Analgesics); Drugs (Salbutamol, Guaifenesin, Acetaminophen, Prednisone); Diagnosis (Chest X-Ray, CT Scan); Route Of Administration (Oral, Inhalation, Intravenous); Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5726
  • Published Date: Feb 22, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Asbestosis Treatment Market size is expected to reach USD 7.8 Billion by the end of 2036, growing at a CAGR of 12% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of asbestosis treatment was USD 2 Billion. The rising incidence of asbestosis is the main reason anticipated to propel the market for treatments for the disease's rise. The market for asbestosis treatments is anticipated to rise at a faster rate as exposure to asbestosis particles increases. Every year, illnesses linked to asbestos use claim the lives of almost 90,000 people worldwide. There are still 125 million people in the globe who could be exposed to asbestos at work.

In addition, the government and public organizations' growing healthcare spending and awareness campaigns are also anticipated to fuel the asbestosis treatment market expansion.


Asbestosis Treatment Market
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Asbestosis Treatment Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Population in the Mining Sector- The reason that is expected to propel the asbestosis treatment market is the growing number of people working in the mining industry. According to the World Health Organization, over 125 million individuals are exposed to asbestos particles at work, with those who work in industrial and mining regions likely to be most affected. This feature is therefore expected to fuel the asbestosis treatment industry in the upcoming years.
  • Growing Awareness About Health Risks: Asbestos exposure-related health hazards are becoming more well-known, which has prompted efforts to diagnose and treat asbestosis. Effective therapies are in higher demand as more individuals become aware of the illness and its symptoms. The progress in treating asbestosis is a result of ongoing study and development in the field of respiratory disorders. New drugs, therapies, and treatment plans are being developed to control symptoms, halt the spread of the illness, and enhance patient outcomes. The importance of early detection and intervention in the management of asbestosis is growing. To enable prompt intervention and care, efforts are also being made to diagnose the illness in its earliest stages. Since there is no known cure for asbestosis, palliative care, and supportive care are becoming more and more important in helping afflicted people live better lives.
  • Developments in The Field of Medicine- The asbestosis treatment market has grown significantly as a result of developments in medical technology. More precise and prompt asbestosis detection is now possible thanks to advancements in diagnostic methods including biomarker testing and high-resolution imaging. Healthcare providers can administer the proper care and management techniques because of this early detection.

Challenges

  • Supply chain disruption- The market for asbestosis treatments has been significantly impacted by the COVID-19 epidemic. The urgent needs of COVID-19 patients forced the redirection of healthcare systems and resources, which delayed the diagnosis and treatment of diseases linked to asbestos exposure, such as asbestosis. Disruptions in the supply chain and limitations on non-essential medical services also made treatment options less accessible.
  • The market for asbestosis treatments is growing more slowly as a result of the delayed diagnosis, which makes it difficult to provide prompt treatment interventions.
  • The high expense of treating asbestosis is another factor that is anticipated to limit this asbestosis treatment market expansion.

Asbestosis Treatment Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 12%

Base Year Market Size (2023)

 ~ USD 2 Billion

Forecast Year Market Size (2036)

 ~ USD 7.8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Asbestosis Treatment Segmentation

Drugs (Salbutamol, Guaifenesin, Acetaminophen, Prednisone)

Based on drugs, the prednisone segment in the asbestosis treatment market is predicted to hold the largest revenue share of about 45% during the forecast period. Prednisone is a synthetic glucocorticoid that is used to suppress inflammation and weaken the immune system. The liver converts the prodrug prednisone into prednisolone, which is the medication's active component. Prednisone has no biological effects before its conversion to prednisolone through hepatic metabolism. Prednisone's use is expected to rise significantly throughout the forecast period as it is an anti-inflammatory that also helps reduce inflammation caused by sickness. 19,898,457 prescriptions were written in the US in 2021.

Route of Administration (Oral, Inhalation, Intravenous)

Based on the route of administration, the inhalation segment in the asbestosis treatment market is estimated to hold the largest revenue share of about 40% during the forecast period. The growth of the segment is because many people favor inhalation to swallowing tablets or pills for delivery. It has long been established that inhaling medication is an efficient way to get medication into the lungs to treat respiratory conditions. Compared to oral pills, inhaled drugs are taken directly into the airways, allowing for a smaller dose to be given and a faster onset of action as well as fewer side effects. It is anticipated that the growing incidence of respiratory conditions such as cystic fibrosis, asthma, and COPD will propel market growth. Asthma impacted almost 25 million Americans in 2021, making up 7.7% of adults and 8.4% of children in the country, according to the Centers for Disease Control and Prevention (CDC).

Our in-depth analysis of the global asbestosis treatment market includes the following segments:

     Type

  • Chrysolite
  • Amosite
  • Crocidolite

     Mechanism of Action

  • Bronchodilators
  • Expectorants
  • Antibiotics
  • Corticosteroids
  • Analgesics

     Drugs

  • Salbutamol
  • Guaifenesin
  • Acetaminophen
  • Prednisone

     Diagnosis

  • Chest X-Ray
  • CT Scan

     Treatment

  • Medication
  • Supplemental Oxygen
  • Surgery

     Route of Administration

  • Oral
  • Inhalation
  • Intravenous

     Distribution Channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

     End User

  • Hospitals
  • Homecare
  • Speciality Clinics

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Asbestosis Treatment Industry - Regional Synopsis

North American Market Forecast

Asbestosis treatment market in the North American region is anticipated to hold the largest revenue share of about 32% during the forecast period. In North America, both the general public and medical experts are becoming more aware of the health concerns posed by asbestos exposure. Increased efforts in screening programs and early asbestosis discovery are the result of this knowledge. Asbestosis and other respiratory illnesses are the subject of a robust research and development environment in the region. To improve the treatment of asbestosis, academic institutions, research groups, and pharmaceutical corporations actively participate in clinical trials, investigations, and partnerships throughout North America. This research and development endeavor stimulates creativity, advances the creation of novel treatments, and broadens the range of available remedies. In 2022, the United States incurred a total of 679.4 billion dollars on research and development. This sum represents an increase of almost 5.5% over the 643.8 billion US dollars that were spent the year prior.

European Market Statistics

Asbestosis treatment market in the Europe region is projected to hold the largest revenue share of about 27% during the forecast period. In Europe, the amount of asbestos exposed at work is rising. Asbestos is thought to be responsible for between 55 and 85 percent of occupational lung cancer cases in Europe each year, according to the International Commission on Occupational Health (ICOH). Europe boasts a sophisticated healthcare system with hospitals, respiratory clinics, and medical personnel skilled in asbestosis management. Comprehensive and well-coordinated asbestosis therapy is supported by the presence of multidisciplinary teams of pulmonologists, occupational health specialists, and rehabilitation experts.

Research Nester
Asbestosis Treatment Market Size
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Companies Dominating the Asbestosis Treatment Landscape

top-features-companies
    • Pfizer Inc
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Eli Lilly and Company
    • Merck and Co Inc.
    • Novartis AG
    • Bayer AG
    • Boehringer Ingelheim International GmbH
    • Johnson & Johnson Private Limited
    • Squibb Company
    • Novocure
    • Bristol-Myers

In-the-news

In The News

  • Following a thorough investigation into the United States Food and Drug Administration's (FDA) earlier reported the finding of sub-trace levels of asbestos (no greater than 0.00002%) in samples from a single bottle of Johnson's Baby Powder, Johnson & Johnson Consumer Inc. (the Company) today reaffirmed that its product is safe and free of asbestos.
  • The data from the randomized phase 3 LUNAR clinical trial, which assessed the use of treating field therapy in conjunction with conventional systemic therapies for the treatment of metastatic non-small cell lung cancer (NSCLC) that progressed during or after platinum-based therapy, have been published in The Lancet Oncology, according to a press release from Novocure. 

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5726
  • Published Date: Feb 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rising incidence of asbestosis and the increasing mining population are the major factors driving the growth of the asbestosis treatment market.

The market size of asbestosis treatment is anticipated to attain a CAGR of 12% over the forecast period, i.e., 2024 - 2036.

The major players in the market are Eli Lilly and Company, Merck and Co Inc., Novartis AG, Bayer AG, Boehringer Ingelheim International GmbH, Johnson & Johnson Private Limited, Squibb Company, Novocure, Bristol-Myers, and others.

The prednisone segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Asbestosis Treatment Market Report Scope
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