New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Acute Lung Injury Market: Key Insights
According to our new research study on "Acute Lung Injury Market to 2028 – Global Analysis and Forecast – by Therapy, End User, and Geography," the Acute Lung Injury Market Size is projected to reach US$ 741.98 million by 2028 from US$ 539.61 million in 2021; it is expected to register a CAGR of 4.7% during 2021–2028.
Acute Lung Injury Market: Competition Landscape and Key Developments
GlaxoSmithKline plc.; Stemedica Cell Technologies, Inc; Histocell; APEPTICO Forschung und Entwicklung GmbH; Windtree Therapeutics, Inc.; ReAlta Life Sciences, Inc.; Apeiron Biologics AG, Qx Therapeutics, Inc., Angion, and Asklepion Pharmaceuticals, LLC. are among the major players operating in the market. Currently, various molecules of these companies are under development in Phase II, Phase I, and Preclinical. Leading market players are focusing on the launch of new products, expansion, and diversification of market presence and acquisition of new customer base, thereby tapping prevailing business opportunities.
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In 2020, North America dominated the global acute lung injury market. The market's growth is majorly defined by the increasing investments and initiatives by market players and governments. The acute lung injury market players are actively involved in business development activities such as product launches and partnerships. For instance, in March 2021, Qx Therapeutics Inc. announced that the US Food and Drug Administration (FDA) cleared investigational new drug application (IND) to investigate its lead drug product, QXT-101, for a Phase 2 clinical trial for its safety and efficacy in hospitalized patients with severe or critical COVID-19. QXT-101 is a first-in-class treatment for patients who suffer from acute lung injury (ALI). Thus, continuous efforts and investments by the market players by uplifting the production and sales of their products in the domestic and international markets to address the rising demands are driving the acute lung injury market.
The COVID-19 pandemic has disrupted the socioeconomic conditions of various countries across the world. The high number of COVID cases has negatively impacted the country's and region's economy, and there has been a decline in overall business activities and growth of various industries operating in the region.
However, acute lung injury market players are initiating clinical trials to develop drugs to treat acute lung injury. For instance, Chimerix, a biopharmaceutical company, initiated a Phase II/III clinical trial in June 2020 to evaluate the safety and efficacy of Dociparstat sodium (DSTAT) in patients with acute lung injury (ALI) due to COVID-19. Furthermore, Altasciences is pleased to support ReAlta Life Sciences by conducting a Phase I trial to evaluate RLS-0071 for acute lung injury (ALI) as a result of viral infections such as COVID-19, respiratory syncytial virus (RSV), and influenza. COVID-19-related issues have propelled the acute lung injury market growth in the region.
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The high prevalence of respiratory conditions is associated with the decrease in the size of the upper airway lumen in the aging population. Lung disorders are among the most common medical conditions across the world. According to the Centers for Disease Control and Prevention (CDC), lung diseases such as chronic obstructive pulmonary disease (COPD) and acute lung injury (ALI) are the third leading cause of death in the US. People worldwide suffer from various sorts of respiratory diseases. Smoking, infections, and genetic factors are among the common factors responsible for respiratory disorders. Medical conditions such as COPD, asthma, chronic bronchitis, cystic fibrosis, and lung cancer are significant public health burdens.
Moreover, the CDC, the US Food and Drug Administration (FDA), state and local health departments, and other clinical and public health associates continue to monitor smoking e-cigarette or vaping product use associated lung injury (EVALI). According to the CDC, a total of 2,807 hospitalized EVALI cases or deaths from all 50 states, the District of Columbia, and two US territories (Puerto Rico and US Virgin Islands) have been recorded as of February 2020. Thus, all the factors mentioned above are expected to result in the growth of the acute lung injury market during the forecast period.
Acute Lung Injury Market: Segmental Overview
By therapy, the acute lung injury market is segmented into mechanical ventilation, fluid management, pharmacotherapy, and adjunctive procedures. In 2021, the mechanical ventilation segment is estimated to account for the largest market share in the global acute lung injury market. The segment's growth is attributed to the fact that mechanical ventilation in acute lung injury (ALI) aims to maintain oxygen while avoiding its toxicity and complications associated with the ventilation.
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Based on end user, the acute lung injury market is segmented into hospitals, ambulatory surgery centers, and others. The hospitals segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 4.9% of the market during the forecast period.
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