| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2019-2022 |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Pulmonary Embolism Market Size 2023 |
USD 1,587 million |
| Pulmonary Embolism Market, CAGR |
8.32% |
| Pulmonary Embolism Market Size 2032 |
USD 3,147 million |
Market Overview:
The global market for Pulmonary Embolism presents a dynamic landscape with significant growth opportunities and challenges. Pulmonary Embolism, characterized by blood clots in the lung vasculature, is a critical medical condition that can lead to severe health complications if not promptly treated. The market insights report on Pulmonary Embolism delves into the historical trends and future forecasts up to the year 2030, encompassing regions such as North America, Europe, Asia Pacific, and the rest of the world. The market reached $1,587 million in 2023 and is projected to surge to $3,147 million by 2032, with a forecasted compound annual growth rate (CAGR) of 8.32% during the period from 2023 to 2032. With a detailed segmentation by geography and market segments, the report outlines the market drivers, challenges, and opportunities faced by industry players.
One of the key highlights of the Pulmonary Embolism market report is the assessment of prominent companies operating in this sector. These 12-15 players are thoroughly analyzed in terms of their company overview, financial standings, product portfolios, and market shares. This in-depth analysis provides stakeholders with a comprehensive understanding of the competitive landscape within the Pulmonary Embolism market, aiding them in strategic decision-making. Additionally, the report includes a PORTER’s analysis, offering further insights into the market dynamics and competitive forces shaping the industry.
Furthermore, the report emphasizes the impact of the COVID-19 pandemic on the Pulmonary Embolism market, elucidating how the global health crisis has influenced market trends and consumer behavior. By examining the historical data and projecting market trends over the next decade, the report equips businesses with valuable information for devising effective strategies. The scope of the report covers a descriptive overview of Pulmonary Embolism, pointing out its applications, advantages, and limitations, while also profiling key companies and their market shares. Overall, the Pulmonary Embolism market report stands out for its thorough market analysis, strategic insights, and future outlook, providing a holistic view of the industry landscape and growth opportunities.
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Segmentation Analysis:
By Type:
The pulmonary embolism market can be segmented by type, including acute pulmonary embolism, submassive pulmonary embolism, and massive pulmonary embolism. Acute pulmonary embolism refers to the sudden occurrence of a blood clot in the pulmonary artery, causing severe symptoms. Submassive pulmonary embolism involves the presence of a blood clot in the pulmonary arteries with evidence of right heart strain. Massive pulmonary embolism denotes a large blood clot causing severe strain on the heart and life-threatening complications.
By Application:
The market segmentation by application includes diagnosis, treatment, and prophylaxis. Diagnosis involves identifying and confirming the presence of pulmonary embolism through various tests such as chest X-ray, CT scan, blood tests, and D-dimer test. Treatment encompasses the administration of blood thinners, catheter-directed thrombolysis, mechanical thrombectomy, and vena cava filter insertion. Prophylaxis involves preventive measures such as the use of compression stockings and direct oral anticoagulants to mitigate the risk of developing blood clots or recurring pulmonary embolisms.
Segmentations:
By Type:
- Marketed Drugs
- Late-Stage Pipeline Drugs
By Application:
- Drug Overview
- Mechanism of action
- Regulatory status
- Clinical trial results
- Drug uptake and market performance
By Region:
- North America
- Europe
- Germany
- France
- The U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
By Drug Class:
- Anticoagulants
- Thrombolytics
- Factor Xa Inhibitors
- Direct Oral Anticoagulants (DOACs)
Market Drivers:
Expanding Obese Population and Rising Inflammatory Conditions
Impact of Obesity: The increasing global prevalence of obesity is a significant driver for the pulmonary embolism market, as obesity is a known risk factor for developing blood clots. For instance, in 2022, 1 in 8 people in the world will be living with obesity. Worldwide, adult obesity has more than doubled since 1990.
Inflammatory Conditions: Rising incidences of inflammatory diseases like lupus and rheumatoid arthritis contribute to clot formation, elevating the risk of pulmonary embolism among affected individuals. For example, an estimated 53.2 million US adults (21.2%) had ever been told by a doctor that they had some form of arthritis, rheumatoid arthritis, gout, lupus, or fibromyalgia.
Prevalence of Risk Factors:
Influence of Lifestyle Choices: Factors such as smoking addiction and chemotherapy treatments raise the risk for blood clots, consequently driving the incidence of pulmonary embolism. As an example, an estimated 28.3 million U.S. adults smoke cigarettes. Regarding chemotherapy, for cancers diagnosed between 2013 and 2016 in England, 28% of those receiving at least one of the main treatment types were treated with chemotherapy.
Hormonal Therapies: The widespread usage of estrogen-based therapies, including hormone replacement therapy, contributes to the risk of blood clotting, thereby fueling the demand for pulmonary embolism treatments. For instance, in recent estrogen-only users, between three (in younger women) and eight (in older women) extra cases per 10,000 women would be expected.
Adoption of Thrombolytic Treatments:
Enhanced Treatment Approaches: The growing adoption of thrombolytic treatments to dissolve blood clots is a significant driver for the pulmonary embolism market, particularly in severe cases of pulmonary embolism. For instance, during the period 2003–2021, there were increased odds of door-to-needle times within 60 minutes for thrombolytic treatment.
Treatment Efficacy: Thrombolytic therapy’s effectiveness in preventing further clot development and reducing lung damage contributes to increased market demand for such interventions. For example, a study found that the median door-to-needle time (DNT) for intravenous thrombolysis (IVT) remains around 60 minutes. However, many reports documented that hospital logistics could be substantially streamlined and DNT shortened below 30 minutes.
The popularity of Vena Cava Filters and Compression Stockings:
Alternative Treatment Options: The rising popularity of vena cava filters offers an alternative treatment approach for patients who cannot take traditional anticoagulants, expanding the pulmonary embolism market. For instance, IVCF use has expanded exponentially with the advent of retrievable filters. However, the current vena cava filter environment is one of doubt and uncertainty, which is reflected in the decreasing utilization.
Preventive Measures: The utilization of compression stockings to enhance blood flow in the legs and reduce clot formation contributes to the market’s growth by addressing preventive care needs for at-risk populations. For example, a study found that the area decrease had a mean value of 89.57% and 88.58%, respectively, slightly greater than observed in the study of patients without filters.
Growing Demand for Direct Oral Anticoagulants (DOACs):
Convenience and Efficacy: DOACs, known for their efficacy in preventing blood clots with reduced monitoring needs, are witnessing increased adoption, leading to market expansion
Preference for DOACs: With advantages like fewer drug interactions and ease of use, the growing utilization of DOACs drives market growth with a shift towards more patient-friendly treatment options. For example, during the period 2011–2014, 95% of patients were prescribed warfarin and 5% DOACs, whereas during the period 2014–2017, DOAC prescribing had risen to 40% of all anticoagulants prescribed.
Market Restraints and Challenges:
Regulatory Hurdles and Compliance Issues:
- Stringent Approval Processes: The pulmonary embolism market faces challenges due to the stringent regulatory approval processes for new treatments, leading to delays in bringing innovative therapies to market.
- Compliance with Evolving Regulations: Adherence to constantly evolving regulatory requirements poses a significant challenge for market players, necessitating continuous monitoring and adaptation of strategies to ensure compliance.
High Treatment Costs and Affordability Concerns:
- Cost-Effectiveness of Therapies: The high cost associated with pulmonary embolism treatments, including medications and procedures, poses a challenge in ensuring cost-effectiveness for patients and healthcare systems.
- Affordability Constraints: Affordability concerns for patients, especially in regions with limited access to healthcare resources, present a barrier to treatment uptake and adherence, impacting overall market growth.
Limited Awareness and Diagnosis Rates:
- Underdiagnosis and Misdiagnosis: Limited awareness about pulmonary embolism symptoms and risk factors contributes to underdiagnosis and misdiagnosis, delaying timely intervention and impacting patient outcomes.
- Educational Initiatives: The a need for enhanced educational campaigns to raise awareness among both healthcare professionals and the general population to improve early detection and management of pulmonary embolism.
Competitive Market Landscape and Intellectual Property Issues:
- Intense Competition: The market is characterized by intense competition among key players, leading to challenges in market differentiation and pricing strategies, which may impact profit margins and market share.
- Intellectual Property Protection: Issues related to patent expirations, generic competition, and intellectual property rights pose challenges in sustaining profitability and innovation within the market.
Technological Advancements and Integration Challenges:
- Rapid Technological Developments: The rapid pace of technological advancements, such as AI-driven diagnostics and personalized treatments, creates challenges in adopting and integrating these innovations effectively into the existing healthcare infrastructure.
- Data Privacy and Interoperability: Ensuring data privacy, security, and seamless interoperability of new technologies with existing healthcare systems presents hurdles in achieving optimal patient care and treatment outcomes.
Health System Capacities and Resource Constraints:
- Healthcare Infrastructure Limitations: Inadequacies in healthcare infrastructure, including diagnostic facilities and specialized treatment centers, pose challenges in delivering timely and effective care for pulmonary embolism patients.
- Resource Constraints: Limited healthcare resources, including skilled healthcare professionals, medical equipment, and adequate funding, can hinder the provision of optimal care and access to treatments for patients.
Shifts in Reimbursement Policies and Market Access Challenges:
- Reimbursement Uncertainties: Changes in reimbursement policies and the evolving landscape of healthcare financing create uncertainties for market players, impacting pricing strategies, market access, and profitability.
- Market Access Barriers: Market access challenges, including formulary restrictions, reimbursement delays, and price controls, can impede patient access to innovative pulmonary embolism treatments, affecting market growth and sustainability.
Patient Safety Concerns and Adverse Event Management:
- Adverse Events and Side Effects: Managing the potential risks of adverse events associated with pulmonary embolism treatments requires robust safety monitoring protocols and effective management strategies to ensure patient safety.
- Regulatory Compliance for Safety Reporting: Meeting regulatory requirements for safety reporting and pharmacovigilance poses challenges in maintaining compliance and ensuring timely risk mitigation for patients receiving pulmonary embolism treatments.
Key Players:
- Bristol-Myers Squibb/Pfizer
- Boehringer Ingelheim
- Daiichi Sankyo
- Sanofi Aventis
- Bayer/Johnson & Johnson Pharmaceutical
- Supergene TS23 Translational Sciences
- Anthos Therapeutics
- Tasly Pharmaceutical
- Pfizer Inc.
- GlaxoSmithKline
Recent Developments:
March 2022: One significant recent development in the market is the rise of metaverse technology. With companies like Meta Platforms (formerly Facebook) announcing a shift towards focusing on developing the metaverse, this emerging sector is attracting significant investment and interest from various industries. The metaverse presents new opportunities for virtual experiences, digital interactions, and immersive environments, reshaping how people engage with online platforms beyond conventional social media.
January 2022: Another noteworthy recent development is the surge in renewable energy investments. In January 2022, several major corporations committed to ambitious renewable energy targets aiming for carbon neutrality. This trend reflects a growing awareness of sustainability and the urgent need to address climate change, with companies increasingly incorporating renewable energy sources into their operations to reduce carbon emissions and transition towards a more environmentally friendly business model.
Regional Analysis:
The United States is one of the major regions contributing to the market share, with a significant presence in industries such as technology, healthcare, and finance. The market share in the US is driven by robust consumer spending, technological innovation, and a favorable regulatory environment. The advanced infrastructure and high disposable income levels further bolster market growth.
China holds a substantial market share, primarily driven by its manufacturing sector, technological advancements, and a large consumer base. The country’s focus on renewable energy and sustainable initiatives also contributes to expanding market opportunities.
The European Union (EU) represents a significant market share, characterized by a strong focus on manufacturing, automotive, and pharmaceutical industries. The region’s emphasis on sustainability and innovation fuels market growth, with Germany, France, and the United Kingdom being key contributors.
India’s market share is driven by its thriving IT sector, pharmaceutical industry, and rapidly growing consumer market. Government initiatives promoting digital transformation and infrastructure development also play a vital role in market expansion in India.
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Future Outlook:
- The Pulmonary Embolism market is poised for substantial growth, driven by the increasing prevalence of deep vein thrombosis (DVT) and associated risk factors such as obesity and sedentary lifestyles.
- Ongoing innovation in diagnostic techniques and treatment modalities is expected to enhance the accuracy and speed of pulmonary embolism diagnosis and improve patient outcomes.
- North America is anticipated to continue dominating the market due to its advanced healthcare infrastructure and growing demand for advanced technologies in Pulmonary Embolism.
- Stringent regulatory requirements and evolving healthcare landscapes are likely to influence market accessibility to innovative solutions and shape future market dynamics.
- The market is anticipated to adapt and resonate with the post-pandemic landscape, demonstrating resilience and adaptability to evolving challenges and new variants of the virus.
- Continued investment in clinical trials and academic-industry partnerships to explore new therapeutic targets and drug formulations is expected to drive innovation in the market.
- Ongoing studies and advancements are likely to lead to the development of new products and technologies, presenting growth opportunities for industry players.
- Addressing the unmet clinical needs associated with pulmonary embolism through precision medicine and personalized treatment regimens is expected to drive sustainable market expansion.
- The Asia-Pacific region, particularly countries like China and India, presents significant growth opportunities due to increasing healthcare expenditure and disease prevalence.
- Efforts to address treatment limitations and potential adverse events associated with current therapies are essential for ensuring sustained and improved patient care outcomes.
