According to studies, smoking raises the risk of pneumoconiosis; more than 60% of the world's population smokes, increasing the danger of pneumoconiosis and contributing to the market's rise. Pneumoconiosis is a lung disease caused by dust inhalation that is both restricting and occupational. There are a variety of substances that can induce pneumoconiosis when ingested. The disorders are caused by both organic and inorganic factors. Pneumoconiosis is incurable. Following a diagnosis, treatment focuses on preventing the condition from worsening and controlling your symptoms.
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Data Bridge Market Research analyses that the pneumoconiosis market was valued at USD 235.85 million in 2021 and is expected to reach USD 414.41 million by 2029, registering a CAGR of 7.30% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
When a person breaths in dust particles such as asbestos, coal dust, or silica, pneumoconiosis can develop. If these particles get into the lungs' airways or air sacs, the body will try to fight them off by inflaming them. Because there is currently no cure for pneumoconiosis, treatment focuses on symptom management and preventing the disease from worsening. The treatment plan for this condition include oxygen therapy, bronchodilator, antibiotics and mucolytic agent. Emergence of problems associated with breathing is treated by the administration of bronchodilators while corticosteroids can help with inflammation.
Opportunities
Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the pneumoconiosis market growth. Moreover, the market's growth is fueled by investment for the development of advanced technologies and increase in the number of emerging markets. These factors will provide beneficial opportunities for the pneumoconiosis market growth.
Pneumoconiosis Market Regional Analysis/Insights
North America dominates the pneumoconiosis market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing demand for specific treatment and rising healthcare expenditure will further propel the market’s growth rate in this region. Additionally, presence of major key players and rise in adoption of newer technologies will further propel the market’s growth rate in this region. Asia-Pacific is expected to be the fastest growing region during the forecast period of 2022-2029 due to growing cases of pneumoconiosis in this region. Also, development of healthcare infrastructure and rising government initiatives will further propel the market’s growth rate in this region.
The top key players opertaing in the Pneumoconiosis Market are Pfizer Inc. (U.S.), GlaxoSmithKline plc (U.K.), Novartis AG (Switzerland), Mylan N.V. (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi (France), AstraZeneca (U.K.), Johnson & Johnson Private Limited (U.S.), Merck & Co., Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Baxter (U.S.), Bayer AG (Germany), Hikma Pharmaceuticals PLC (U.K.), Eli Lilly and Company (U.S.), Sun Pharmaceutical Industries Ltd. (India), Aurobindo Pharma (India), Lupin (India), Torrent Pharmaceuticals Ltd. (India), Allergan (Ireland), Melinta Therapeutics LLC (U.S.) among others.
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