A Brief Overview of Emerging Healthcare Markets: Asthma Therapeutics, and Neovaginal Surgery
The healthcare industry is constantly evolving and innovating to meet the needs and expectations of patients, providers, and payers. In this article, we will explore healthcare markets that are projected to witness significant growth and demand in the coming years: asthma therapeutics, and neovaginal surgery. These markets are driven by various factors, such as the increasing prevalence of chronic diseases, the availability of insurance coverage, the social acceptance of transgender individuals, and the advancements in diagnostic and therapeutic technologies.
Asthma Therapeutics Market
The global asthma therapeutics market size was valued at USD 18.1 Billion in 2022 and is expected to reach USD 22.29 Billion by 2031, expanding at a CAGR of 2.34%. The growth is attributed to the rising prevalence of asthma and other respiratory disorders worldwide, which require long-term pharmacological management through bronchodilators, inhaled/oral corticosteroids, and other drugs that prevent and relieve airway obstruction symptoms. The market is also influenced by the COVID-19 pandemic, which has increased the risk of severe respiratory complications among asthma patients6. Asthma therapies refer to a wide range of pharmaceutical medications used to treat asthma.
One of the key trends in the asthma therapeutics market is the increasing R&D for advanced biologics that target specific immune pathways involved in asthma pathogenesis. For instance, in September 2019, Novartis announced positive results from the phase III IRIDIUM study of QVM149, an inhaled combination therapy for uncontrolled asthma7. Another trend is the growing adoption of sensor-enabled smart inhalers that can track medication usage and provide reminders to patients. For example, in January 2020, Teva Pharmaceutical Industries launched ProAir Digihaler, a digital inhaler with built-in sensors that can connect to a mobile app8. Dust and air pollution are allergens that are common causes of asthma in both indoor and outdoor environments.
Neovaginal Surgery Market
The global neovaginal surgery market size was valued at USD 1.13 Billion in 2022 and is likely to reach USD 1.55 Billion by 2031, expanding at a CAGR of 3.61%. The growth of the market is attributed to the availability of insurance and an increase in the number of gender verification surgeries. Neovaginal surgery includes the creation of a vagina and is opted for by transgender individuals along with women with vaginal agenesis. The growth is driven by the increasing number of gender confirmation surgeries and availability of insurance coverage for such procedures. The market is also supported by the social acceptance of transgender individuals and their rights.
One of the major trends in the neovaginal surgery market is the innovation in surgical techniques that can improve the patient experience by reducing the required time and cost for the surgery. For instance, in June 2019, a team of surgeons from Mount Sinai Health System performed a novel robotic-assisted neovaginal surgery for a transgender woman using peritoneal tissue10. Another trend is the expansion of transgender services by healthcare providers to cater to increased patient inflow. For example, in June 2018, Cedars-Sinai expanded its transgender services to provide care in Culver City and Beverly Hills