Market Trends of Global Acute Respiratory Distress Syndrome (ARDS) Treatment Industry
This section covers the major market trends shaping the Acute Respiratory Distress Syndrome Treatment Market according to our research experts:
Hospital/ Clinics by End User Segment is Expected to Witness Healthy Growth Over the Forecast Period
Hospitals/Clinics are well equipped with advanced technological equipment for surgical procedures and improved treatments and the hospital segment is witnessing rapid growth, owing to the growing number of hospital admission with the ARDS, the increasing number of patient pools, and the launch of new products by the market players are expected to continue over the forecast period, and thus, driving growth in the segment.
The increasing number of hospitals by private players is also expected to propel the growth of the market. The American Hospital Association Statistics 2022 published in January 2022 reported that in 2021, there are 2,946 nongovernment not-for-profit community hospitals, and this number increased to 2,960 in 2022 in the United States. As a result, as the number of beds available increases to treat ARDS patients, thus increasing number of hospitals support the segment growth over the forecast period.
The increasing number of hospital admissions and admissions in the critical care unit creates the need the ARDS treatment and thus drives the growth of the market. According to the study titled "Acute respiratory distress syndrome readmissions: A nationwide cross-sectional analysis of epidemiology and costs of care" published in the PLOS One Journal in January 2022,18.4% of patients with acute respiratory distress syndrome underwent rehospitalization. Moreover, as per data released by the Australian Institute of Health and Welfare in May 2022, there are about 11.8 million hospital admission occurred in 2020-21 which is 6.3% more compared to 2019-20. It also reported that out of 11.8 million admissions, 7.0% of hospitalizations involved a stay in the Intensive Care Unit (ICU), 3.8% of hospitalizations involved respiratory disease and 10.3 % of hospitalizations had a separation mode indicating the patient died in the hospital. Such increasing admission in emergency critical care creates the need for ARDS treatment and is thus expected to drive the growth of the market segment.
Thus, owing to the above factors the segment is expected to show a healthy growth rate over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America dominated the global ARDS treatment market due to the presence of major market players, an increase in product approvals, a developed health care system, and a high prevalence of acute respiratory distress syndrome.
According to the study titled "Acute Respiratory Distress Syndrome" published in the National Library of Medicine in February 2022, reported the incidence of ARDS in the United States range from 64.2 to 78.9 cases per 100,000 people in a year. Initial assessments of ARDS cases place 25% of cases in the mild category and 75% in the moderate or severe category. But one-third of mild cases go on to develop into moderate or severe illnesses. Thus, the growing prevalence of acute respiratory distress syndrome in the United States supports the market growth over the forecast period.
The key market players' adoption of various organic and inorganic strategies is anticipated to accelerate market growth. For instance, in December 2020, the Food and Drug Administration (FDA) granted Remestemcel-L Fast Track designation for the treatment of acute respiratory distress syndrome (ARDS) brought on by coronavirus disease (COVID-19). Additionally, in September 2020, Athersys announced that MultiStem cell therapy was granted Regenerative Medicine Advanced Therapy (RMAT) designation from the United States Food and Drug Administration for the acute respiratory distress syndrome (ARDS) program.
Thus, owing to all above-mentioned factors the market is expected to witness high growth.
