Idiopathic Pulmonary Fibrosis Market
Number of pages: 100 | Report Format: PDF | Published date: 18 January, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 3,485.56 million |
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Revenue forecast in 2030 |
US$ 7,403.15 million |
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Growth Rate |
CAGR of 6.23% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Historical Year |
2020 |
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Segments covered |
Drug Class, Distribution Channel, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global idiopathic pulmonary fibrosis market was valued at US$ 3,485.56 million in 2021 and is expected to register a revenue CAGR of 6.23% to reach US$ 7,403.15 billion by 2030.
Market Fundamental
Idiopathic pulmonary fibrosis (IPF) is a devastating lung disease with a poor prognosis. The average life expectancy from diagnosis is 2-5 years. There is currently no cure for idiopathic pulmonary fibrosis, and treatments are limited. Despite this, research into IPF has increased in recent years. There is hope that new treatments will be developed to improve the prognosis for patients with this disease. According to the American Lung Association, the most prevalent form of pulmonary fibrosis is idiopathic pulmonary fibrosis (IPF). It is a condition that results in lung scarring (fibrosis). Idiopathic refers to an ailment of an unknown origin. Scarring makes breathing challenging by causing rigidity in the lungs, as the lung tissue becomes thicker and scarred because of pulmonary fibrosis. Idiopathic pulmonary fibrosis (IPF) is a specific type of chronic, progressive, fibrosing interstitial pneumonia with no known origin that is restricted to the lungs, mostly affects older people, and is characterized by the typical interstitial pneumonia histopathologic and/or radiologic pattern (UIP). It rarely affects people under the age of 50, generally affecting those who are 70 to 75 years old. Idiopathic pulmonary fibrosis exhibits many of the same symptoms as other lung illnesses, making it challenging to distinguish between them. The proper diagnosis could take some time and numerous doctor visits. To treat idiopathic pulmonary fibrosis, self-care recommendations include quitting smoking, eating healthfully, and exercising regularly in addition to medications to slow the rate of scarring.
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Market Dynamics
The increase in the senior population drives the market revenue growth because IPF is more likely to impact them. The main risk factor for development is thought to be aging. As a result, the geriatric population is likely to increase globally over the course of the forecast period, which is expected to serve as a high-thimpact driving factor for this market. Due to the rise in demand for effective drugs for the treatment of idiopathic pulmonary fibrosis and favorable reimbursement policies offered by manufacturers and insurance providers in some countries, the market for idiopathic pulmonary fibrosis is expected to register significant market revenue growth during the forecast period. The prevalence of fibrotic diseases has increased, and technological developments in cancer screening and detection have also contributed to the market expansion for idiopathic pulmonary fibrosis. Additionally, an increase in the need for affordable medications and the availability of cutting-edge treatment choices fuel the market revenue growth. Public authorities, government organizations, and major market players are putting increased emphasis on developing efficient treatment options due to the rise in the prevalence of idiopathic pulmonary fibrosis. As a result, more research and development activities are taking place in the market, which will accelerate the market revenue growth throughout the forecast period.
Another possible cause of idiopathic pulmonary fibrosis is smoking. The Centers for Disease Control and Prevention (CDC) estimates that there were roughly 1 billion smokers in the world in 2017. Due to the availability of antifibrotic medications like Pirfenidone (Esbriet) and Nintedanib (Ofev), the global market for the treatment of idiopathic pulmonary fibrosis is expected to register significant revenue growth.
However, the revenue growth of the idiopathic pulmonary fibrosis market is likely to be hampered by a lack of knowledge and access to appropriate therapy. Moreover, misdiagnosis of IPF and high treatment costs are expected to restrain the market for treatments for idiopathic pulmonary fibrosis.
Market Ecosystem
The global idiopathic pulmonary fibrosis market is analyzed from three perspectives: Drug Class, Distribution Channel, and Region.
Idiopathic Pulmonary Fibrosis Market by Drug Class
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Based on the drug classes, the global idiopathic pulmonary fibrosis market is segmented into Tyrosine kinase inhibitors (Nintedanib), Antifibrotic agents (Pirfenidone), and others.
The antifibrotic agents segment dominates the global market because an anti-fibrotic known as pirfenidone (PFD) is used to treat idiopathic pulmonary fibrosis (IPF). Pirfenidone is an oral medication with antifibrotic, anti-inflammatory, and antioxidant properties. Patients with idiopathic pulmonary fibrosis are prescribed this medication to reduce the disease's progression. Compared to the control group, patients receiving antifibrotics had a considerably lower mortality risk. These rates are quantitatively less than the advancement rates in patients not receiving antifibrotic therapy. Over the course of the forecast period, prominent market players involved in the antifibrotics segment are expected to increase their strategic initiatives like mergers, acquisitions, partnerships, and investments as well as their research and development efforts.
Idiopathic Pulmonary Fibrosis Market by Distribution Channel
Based on the distribution channels, the global idiopathic pulmonary fibrosis market is divided into hospital pharmacies, retail pharmacies, and others.
The retail pharmacy segment dominates the market because of the ease of accessibility of prescription drug formulations and the availability of over-the-counter medications at retail pharmacies, and the trend is expected to continue during the forecast period.
Idiopathic Pulmonary Fibrosis Market by Region
Based on the region, the global idiopathic pulmonary fibrosis market is segmented into North America, Europe, Asia Pacific, and the Rest of the world.
North America is expected to be a very profitable market for idiopathic pulmonary fibrosis treatment. With a significant number of prominent players, North America dominates the global idiopathic pulmonary fibrosis market. In North America, strategic investments and the prevalence of idiopathic pulmonary fibrosis are consistently increasing. As a result, the need for medications and lung disease treatments will increase correspondingly. Other elements that lead to an excellent adoption rate are the favorable reimbursement policies. Due to a strong framework for developmental research, the availability of major research funding, and the rise in government efforts for idiopathic pulmonary fibrosis, R&D on this condition is expected to grow rapidly in North America. The demand for idiopathic pulmonary fibrosis treatment will grow even more when there is more awareness.
Asia Pacific is witnessing the strongest trends in the idiopathic pulmonary fibrosis treatment market.
Competitive Landscape
The prominent players operating in the global idiopathic pulmonary fibrosis market are:
Strategic Developments
Idiopathic pulmonary fibrosis is the most common type of pulmonary fibrosis, causing scarring in the lungs (fibrosis). Idiopathic refers to a condition whose cause is unclear. Scarring causes the lungs to become stiff, which makes breathing difficult.
An increase in the geriatric population is the major factor driving the revenue growth of the market, as this population group is more vulnerable to idiopathic pulmonary fibrosis.
Cipla, Boehringer Ingelheim, Glenmark Pharmaceuticals, Genentech, Sandoz, and F. Hoffmann-La Roche Ltd. are among the key players operating in the global idiopathic pulmonary fibrosis market.
The growth of the global idiopathic pulmonary fibrosis market is likely to be hampered by a lack of knowledge and access to appropriate therapy. Also, misdiagnosis of idiopathic pulmonary fibrosis is expected to restrain the market revenue growth.
The global idiopathic pulmonary fibrosis market is expected to register a revenue CAGR of 6.23% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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