Increasing Prevalence of Lung Cancer and Rising Per Capita Healthcare Expenditure are Projected to Fuel The Growth of The Global Bronchial Leiomyoma Market at a CAGR of 8.90%

Pune, India, November 2022 /MRFR Press Release/- Market Research Future published a half-cooked research report on global bronchial leiomyoma market. 

Market Highlights

The bronchial leiomyoma market is expected to reach USD 11,481.38 Million by 2030 at 8.90% CAGR during the forecast period 2022-2030.

Bronchial leiomyoma affects the lower respiratory tract tissues including bronchi, trachea, besides others and is a rare type of lung cancer. A majority of the cases of bronchial leiomyoma are reported to arise from the smooth muscle tissue lining of the bronchi. Being attached to the sides of the bronchi, the bronchial leiomyoma tumor grows as a solitary tumor.  In 2017, according to the American Cancer Society, about 222,500 new cases of lung cancer are reported which is likely to lead 155,870 deaths. With such an increasing prevalence of the lung cancer, the cases of the bronchial leiomyoma are estimated to be increasing, which is likely to drive the market growth during the forecast period, 2017-2023. Moreover, increasing per capita healthcare expenditure and developing healthcare sector are expected to boost the market growth over the review period. However, the complexity of diagnosis and treatment along with the lack of awareness regarding the disease may hamper the market growth during the forecast period. 

Segmentation

The global market is segmented on the basis of the site, diagnosis, treatment, and end users.

On the basis of the site, the market is segmented into bronchi, trachea, and others.

On the basis of the diagnosis, the market is segmented into imaging, blood sampling, biopsy, and others. The imaging segment is sub-segmented into X-rays, CT scan, PET scan, and others. The blood sampling segment is sub-segmented into liver function test, thyroid profiling, renal function test, and others. 

On the basis of the treatment, the market is segmented into surgery, bronchoscopy, and others.

On the basis of end users, the market is segmented into hospitals & clinics, academic institutes, research organization, and others. 

Explore In-depth Details: Bronchial Leiomyoma Market Research Report

Regional Analysis

The Americas dominate the global market owing to a well-developed healthcare sector. Apart from this, increasing number of patients, increasing healthcare expenditure have boosted the growth of the market in the Americas. According to the Centers for Disease Control and Prevention in 2015, the U.S. total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which was USD 3.2 trillion.

Europe is the second largest market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, and government support for research & development drives the European market. Moreover, the presence of the developed economies like the Germany and the U.K. within the region fuel the market growth during the forecast period.

Asia Pacific is the fastest growing region in the global market due to the presence of a huge patient population, increasing per capita healthcare expenditure, and continuously developing economies like India and China. Moreover, the untapped market of the region is a huge opportunity for the market growth.

On the other hand, the Middle East & Africa accounts for the least share of the global bronchial leiomyoma market due to the presence of poor economies, especially, in Africa region. Majority of the market of this region is held by the Middle East due to the well-developed healthcare sector and huge healthcare expenditure. 

Key PlayersHoffmann-La Roche Ltd (Europe), AstraZeneca (Europe), Eli Lilly and Company. (U.S.), Sanofi (Europe), Pfizer Inc. (U.S.), GlaxoSmithKline Plc. (U.S.), ArQule. (U.S.), Boehringer Ingelheim GmbH (Europe), and others.