Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Global Occupational Medicines Market Report 2023" has been added to ResearchAndMarkets.com's offering.
The global occupational medicines market is expected to grow from $4.52 billion in 2022 to $4.86 billion in 2023 at a compound annual growth rate (CAGR) of 7.5% and to reach $6.26 billion in 2027 at a CAGR of 6.5%. 
The increasing prevalence of chronic diseases among the working population is expected to propel the growth of the occupational medicines market going forward. A chronic disease is a health issue or disease with long-lasting symptoms lasting for at least a year. It requires continuing medical care and restricts daily activities, or both. Occupational medicine helps manage chronic diseases in the workplace, offering specialized medical care for problems related to the job and collaborating with employers, workers, regulators, insurers, the public health sector, and other occupational safety and health experts to make workplaces safer. For instance, in November 2021, according to the Bureau of Labor Statistics, a US-based intergovernmental organization, the number of respiratory disease cases reported by employers increased by around 4,000%, from 10,800 in 2019 to 428,700 in 2020.
Product innovations are a key trend gaining popularity in the occupational medicine market. Major companies operating in the occupational medicine market are concentrating on creating innovative products and solutions to sustain their position in the market. For instance, in May 2023, TELUS Health, a Canada-based provider of health technology services, launched Total Mental Health, an innovative solution for employees to monitor their mental health through assessments and counseling. This solution, available to employees through their employer's health plans, uses TELUS Health's cutting-edge technology to provide a single app for mental health support across Canada's network of counselors. It also includes various welfare components, such as legal assistance, dietary advice, child and elder care options, and financial counseling, that assist employees in resolving personal or professional challenges.
The main types of applications included in occupational medicines are chemical poisoning, psychological disorders, non-induced hearing loss and vibration, skin disorders, chronic respiratory disease, pneumoconiosis, musculoskeletal disorders, cancer, and others. Chemical poisoning, also known as chemical toxicity or chemical intoxication, occurs when a person is exposed to a harmful chemical substance in sufficient quantities to cause adverse health effects. It is used in several industries, such as agriculture and forestry, construction, manufacturing, petroleum and mining, transportation, and others. The main end-users involved are employers and professionals.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- By Application: Chemical Poisoning; Psychological Disorder; Non-Induced Hearing Loss And Vibration; Skin Disorder; Chronic Respiratory Disease; Pneumoconiosis; Musculoskeletal Disorder; Cancer; Other Applications
- By Industry: Agriculture And Forestry; Construction; Manufacturing; Petroleum And Mining; Transportation; Other Industries
- By End-User: Employers; Professionals
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Italy; Spain; Canada
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $4.86 billion |
| Forecasted Market Value (USD) by 2027 | $6.26 billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Companies Profiled
- Pfizer
- Johnson & Johnson
- F. Hoffmann-La Roche
- C-HCA
- Merck & Co.
- AbbVie
- Novartis
- Bristol-Myers Squibb
- AstraZeneca PLC
- Eli Lilly and Company
- Amgen Inc.
- GlaxoSmithKline
- Sanofi
- Nestl S.A.
- Summit Occupational Medicine
- Concentra Inc.
- Premise Health
- CareSpot Express Healthcare
- Nova Medical
- MedExpress
- NextCare Holdings Inc.
- Holzer Health System
- WorkCare Inc.
- HealthWorks Medical
- eScreen
- Proactive Occupational Medicine Inc.
- Marathon Health
- Healthcare Success
- Occucare International
- Workwell Occupational Medicine
For more information about this report visit https://www.researchandmarkets.com/r/9tmlrs
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