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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 12% |
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Base Year Market Size (2023) |
~ USD 2 Billion |
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Forecast Year Market Size (2036) |
~ USD 7.8 Billion |
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Regional Scope |
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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:
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Type |
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Mechanism of Action |
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Drugs |
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Diagnosis |
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Treatment |
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Route of Administration |
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Distribution Channel |
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End User |
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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.
Author Credits: Radhika Pawar
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