A Spectrum of Success: Hyperpigmentation Treatment Market's 2033 Outlook

Over the course of the projection period, the hypoventilation management market is expected to rise at a compound annual growth rate (CAGR) of 5.3%, from an appealing valuation of US$ 7.1 billion in 2023 to US$ 11.9 billion by 2033. The rising accessibility and appeal of high-calorie foods to youth may be contributing factors to obesity. Other ailments, such sleep difficulties, emerge as a result of this. This is a major factor driving the growth of the hypoventilation diagnostic device market. Making use of sleep diagnostic tools will help identify the problem very early on. This factor is therefore believed to be one of the primary reasons for the increase in hypoventilation diagnostic equipment.

Hypoventilation disorder diagnostic devices such as Positive Airway Pressure (PAP) devices have witnessed significant development in terms of design, efficacy, and safety has helped to boost the adoption of products and patient outcomes. Moreover, small PAP devices for individual use at home and the availability of cheaper brands are anticipated to fuel the growth of the hypoventilation devices market over the forecast period.

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Key players in the market are involved in improving the overall hypoventilation treatment paradigm by introducing medical devices, web-based applications, and other efforts to reduce the global burden of hypoventilation disease which is estimated to drive the market growth during the forecast period. For instance, in May 2019, Spire Health, a healthcare company launched a study to develop new digital biomarkers that can predict exacerbations and potential hospitalizations in patients with severe Chronic Obstructive Pulmonary Disease which is a type of hypoventilation disease.

Factors such as awareness initiatives by organizations, the growing prevalence of Chronic obstructive pulmonary disease, and product launches are propelling hypoventilation treatment market growth. For instance, in May 2019, Boehringer Ingelheim and Optimum Patient Care declared the creation of a new patient registry, APEX COPD, to better understand various types of hypoventilation disorders and how they can be typically treated in primary care offices. Such initiatives by market players are projected to boost market growth over the forecast period. Moreover, a pipeline for hypoventilation diseases and mainly COPD has several potential medications, which are anticipated to drive hypoventilation treatment market growth during the forecast period.

Key Takeaways:

North America is expected to dominate the industry while reaching a market share of around 41% by end of the forecast period.
The market in South Asia is projected to reflect a CAGR of 5.5% during the projected timeline.
By disease type, chronic obstructive pulmonary disease is anticipated to account for maximum market share of 55% during the forecast period.
Hospitals are projected to account for 71% market share by end-user, by end of 2033.

“Adoption of positive airway pressure devices and other product launches will bolster hypoventilation treatment market in the forecast period”- comments an FMI Analyst

Competitive Landscape:

The global Hypoventilation management market is highly competitive a due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition. The major players in the market are: Accord Healthcare Limited, Avet Pharmaceuticals Inc, Nostrum Laboratories Inc, Lannett Co Inc, Strides Pharma Science Limited, X Gen Pharmaceuticals Inc, ResMed, Koninklijke Philips NV, Hikma Pharmaceuticals, Lincare Holdings

Some recent developments in this industry are:

In June 2022, Verona Pharma, a pharmaceutical company announced the completion of the patient enrolment, with more than 800 subjects involved for its randomized ENHANCE-1 trial. The study will evaluate ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease, a type of hypoventilation disorder. It is a critical step for the phase III ENHANCE trial with top-line data expected by the end of the year 2022 and further data from ENHANCE-2 in the third quarter of 2022.
In November 2021, AstraZeneca announced that it had sold rights to sell Tudorza, also known as Eklira abroad, and Duaklir to the Switzerland-based pharmaceutical company Covis Pharma Group for US$ 270 Mn. These products are indicated for the treatment of various types of hypoventilation disorders
In May 2022, Alembic Pharmaceuticals Ltd, a pharmaceutical company, received final approval from the U.S. health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease. The approval by the U.S. Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Arformoterol Tartrate inhalation solution is for strength of 15 mcg (base)/2 mL unit-dose vial.

Key Segments:

By Disease Type: