Market Trends of Occupational Medicines Industry
Respiratory Diseases Segment is Expected to Grow Significantly Over the Forecast Period
The respiratory diseases segment is expected to grow over the forecast period, among other segments due to the increasing number of respiratory illnesses such as chronic obstructive pulmonary disease (COPD), asthma, and silicosis globally.
Work-related respiratory diseases are several illnesses caused by breathing in hazardous substances that damage the lungs, such as dust, fumes, and gases. Occupational lung disease has been adding to respiratory distress. People who work in drug manufacturing and antibiotics manufacturing factories complain about breathing issues, and work-related asthma is more prevalent among this target population. For instance, as per the article published in November 2022 in Frontiers, due to the high concentrations of submicron particles, the workers involved in the powder-coating process are at a high health risk. Furthermore, workers' respiratory intake of ultrafine particles (UFPs) is elevated, as evidenced by the highly deposited dose of UFPs in the lungs and the accompanying high average daily doses (ADD) in employees. Hence, with the increasing drug development and manufacturing, the risk of occupational respiratory diseases is increasing, which is anticipated to drive the segment's growth over the forecast period.
Furthermore, as per the work-related asthma statistics in Great Britain published in December 2021, there were an estimated 174 new cases of occupational asthma reported by doctors participating in the SWORD (Surveillance of Work-Related & Occupational Respiratory Diseases) scheme within the Health and Occupation Reporting (THOR) network, United Kingdom. Additionally, as per United States Bureau of Labor Statistics data updated in November 2021, Employer-reported respiratory illnesses increased by nearly 4,000 percent in 2020 in the United States, which was estimated that employer-reported respiratory illness cases in 2020 increased to 428,700. Therefore, the work-related respiratory diseases segment is anticipated to grow over the forecast period globally.
Therefore, due to the rise in respiratory complications in workplaces, the studied segment is anticipated to witness growth over the forecast period.
North America Anticipated to Hold a Significant Share in the Market Over the Forecast Period
North America is likely to hold a significant market share in the occupational medicines market over the forecast period owing to the factors such as an increase in the number of research and development (R&D) activities and investments in the sector, new product launches, and an increase in awareness programs conducted by the government agencies. For instance, as per the Occupational Disease in Connecticut, 2022 report, musculoskeletal disorders (MSD) such as Carpal Tunnel Syndrome and tendonitis dominated other workers' compensation reports, accounting for 26% of reports and 24% of physician reports. Respiratory diseases and poisonings, which include respiratory conditions and lung diseases such as asthma, as well as poisonings such as from carbon monoxide and lead, accounted for 4% of cases for workers' compensation and 5% of physician reports. Hence, such a rise in occupational diseases among the workers in the studied region is expected to increase the demand for the occupational medicine market over the forecast period.
Furthermore, awareness programs conducted across North America regarding the importance of occupational health are expected to drive market growth. For instance, from May 1-7, 2022, workplaces across North America celebrated Safety and Health Week with activities raising awareness of the importance of preventing injury and illness in the workplace, home, and community. This free, live event will feature perspectives on workplace health and safety as well as the impacts of workplace tragedies on families.
Therefore, North America is anticipated to witness growth over the forecast period due to the rise in injuries in workplaces, the surge in occupational diseases, and the increase in awareness programs and funding initiatives by the government.
