NEWARK, Del, April 13, 2023 (GLOBE NEWSWIRE) -- In 2023, the global respiratory distress syndrome management market is expected to be worth US$ 115.4 billion. According to Future Market Insights, the market will grow at a 4.41% CAGR through 2033, with a market value of US$ 177.7 billion. Furthermore, according to a recent FMI report, industry sponsors will lead the market with an expected share of roughly 54.7% in the year 2023, inside the global market.
The need for RDS treatment is generated by an increase in hospital admissions and admissions to the critical care unit, which propels the market's expansion. 18.4% of patients with respiratory distress syndrome required re-hospitalization, according to a study titled "Respiratory distress syndrome readmissions: A countrywide cross-sectional analysis of epidemiology and costs of care" that was published in the PLOS One Journal in January 2022.
Additionally, according to data from the Australian Institute of Health and Welfare published in May 2022, there were 11.8 million hospital admissions in 2020–21, an increase of 6.3% from 2019–20. Out of 11.8 million admissions, it was also reported that 7.0% of hospitalizations involved an ICU stay, 3.8% of hospitalizations involved respiratory disease, and 10.3% of hospitalizations had a separation mode indicating the patient passed away in the hospital. The market segment is anticipated to grow as a result of the rising number of admissions into emergency critical care, which creates a need for RDS treatment.
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The market is expanding due to the increasing need for diagnoses. As many patients require several diagnoses for the treatment to be finished promptly, the diagnosis sector is predicted to dominate the market. As a result, the market has a huge opportunity. The development of the global respiratory distress syndrome treatment market during the forecast period may be restrained by a lack of qualified specialists who are ignorant of the available treatment options for this illness.
Key Takeaways from the Market Study
- It is noted that the industry sponsors will be leading the market with an expected share of about 54.7% in the year 2023, within the global market.
- The global Respiratory Distress Syndrome Management Market grew at a CAGR of 4.24% from 2018 to 2022
- 18.4% of patients with respiratory distress syndrome required re-hospitalization.
- Out of 11.8 million admissions, it was also reported that 7.0% of hospitalizations involved an ICU stay, 3.8% of hospitalizations involved respiratory disease, and 10.3% of hospitalizations had a separation mode indicating the patient passed away in the hospital.
Some of the prominent players in the global market for RDS treatment are JW Pharmaceutical, Windtree Therapeutics, Inc., ONY Biotech Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, GlaxoSmithKline plc., Pfizer Inc., Gilead Sciences, Inc., Hoffmann-La Roche Ltd, Fresenius Kabi AG and others.
Some of the important developments of the key players in the market are:
- In May 2021, Medtronic announced the launch of the SonarMed airway monitoring system. The system utilizes acoustic technology to check for endotracheal tube obstruction. This has helped the company to increase its product portfolio.
- In July 2020, F. Hoffman-La Roche Ltd announced the launch of the SARS-CoV-2 rapid antibody test. The test was launched in partnership with SD Biosenseor, Inc. This has helped the company to increase its product portfolio.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global intraocular lymphoma treatment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the intraocular lymphoma treatment, the market is segmented based on drug type (Antibiotics, Amino Salicylates, Corticosteroids, Immunomodulators, Others), distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies) and across major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Key Segments Profiled in the Respiratory Distress Syndrome Management Market Report
Drug Class:
- Vasoconstrictors
- Bronchodilators
- Steroids and Antibiotics
Route of administration:
- Oral
- Parenteral
- Nasal
End User:
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends (TOC Continue...)
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