The Idiopathic Pulmonary Fibrosis Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Idiopathic Pulmonary Fibrosis Global Market Report 2024, The idiopathic pulmonary fibrosis market size has grown strongly in recent years. It will grow from $3.89 billion in 2023 to $4.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increasing aging population, limited treatment options, rising disease awareness, healthcare infrastructure development.
The idiopathic pulmonary fibrosis market size is expected to see strong growth in the next few years. It will grow to $5.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to expanded research and development, precision medicine approach, increasing disease incidence, advancements in biomarker development, government initiatives and funding. Major trends in the forecast period include advancements in diagnostic techniques, emergence of targeted therapies, telemedicine and remote monitoring, combination therapies, advancements in lung transplantation.
The rise in the prevalence of fibrotic disease is expected to drive the growth of the idiopathic pulmonary fibrosis market going forward. Fibrotic diseases, also known as fibrosis, refer to a group of medical conditions characterized by the excessive formation and accumulation of fibrous connective tissue in various organs or tissues in the body. Idiopathic pulmonary fibrosis drugs help reduce lung fibrosis and inflammation by targeting multiple signaling pathways involved in fibrosis. For instance, in December 2022, according to the American Lung Association, a US-based lung association, there were around 207,000 people affected in the United States and approximately 58,000 new cases of idiopathic pulmonary fibrosis diagnosed each year, which is more common in men than women and mainly affects people over 50 years of age. Therefore, the rise in the prevalence of fibrotic disease drives the idiopathic pulmonary fibrosis market.
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The idiopathic pulmonary fibrosis market covered in this report is segmented –
1) By Drug Type: Nintedanib, Pirfenidone, Other Drug Types
2) By Mode Of Action: Antifibrotic Agents, Tyrosine Kinase Inhibitors, Other Modes of Action
3) By Route Of Administration: Oral, Parenteral
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Providers
5) By End Users: Hospitals and Clinics, Other End Users
Product innovation is a key trend gaining popularity in the idiopathic pulmonary fibrosis market. Major companies operating in the idiopathic pulmonary fibrosis market focus on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in May 2022, Sandoz, a Switzerland-based company that manufactures generic and biosimilar medicines, launched a generic version of pirfenidone, which is the first AB-rated equivalent to Genentech’s Esbriet, aimed at treating individuals suffering from idiopathic pulmonary fibrosis (IPF). This orally administered prescription medication is now accessible to patients through specialty pharmacies, and eligible patients can benefit from a USD 0 co-pay program.
The idiopathic pulmonary fibrosis market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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