A new market analysis report from FMI reveals that the global idiopathic pulmonary fibrosis management market is poised for substantial growth over the next decade. The market, valued at USD 3145 million in 2023, is projected to reach USD 3649.90 million by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 1.5%.
IPF, a progressive lung disease characterized by scarring of lung tissue, has seen a rising prevalence, particularly among men. This increase in cases, coupled with the development of innovative therapies, is driving market expansion.
Key factors contributing to market growth include:
- Rising Prevalence of IPF: The growing global population and increasing exposure to environmental factors are contributing to the higher incidence of IPF.
- Advancements in Treatment Options: Innovative therapies, such as antifibrotic drugs and lung transplantation, are offering new hope for patients with IPF.
- Increased Awareness and Early Diagnosis: Efforts to raise awareness about IPF and improve diagnostic capabilities are leading to earlier detection and treatment.
- Improved Access to Care: Initiatives to enhance patient access to care are facilitating timely and effective management of IPF.
Key Takeaways from the Market Study:
- Idiopathic pulmonary fibrosis management market is expected to grow at a value of 1.5% CAGR in the forecast period 2023 to 2033.
- By distribution channel, retail pharmacies are expected to possess 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
- North America is expected to possess 45% market share for Idiopathic pulmonary fibrosis management market in 2023.
- Europe is expected to hold 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
“The presence of a wide range of drugs, as well as new and innovative medications, is influencing the market for managing Idiopathic pulmonary fibrosis.” states an FMI analyst
Rising Interest in Market Trends: Our Detailed Report Provides Essential Insights!
Competitive Landscape:
Key players in the idiopathic pulmonary fibrosis management market are
- Boehringer Ingelheim GMBH
- Biogen
- Novartis AG
- Medicinova Inc
- Bristol Myers Squibb Company
- Galapagos NV
- Hoffmann-La Roche AG
- Neopharm Group
- Galecto Biotech
- Pfizer Inc
Recent Development:
- Johnson & Johnson Services, Inc most recent research includes the development of a drug called losmapimod, which is an oral p38 MAPK inhibitor. The drug is currently under clinical trials.
- AstraZeneca most recent research includes the development of a drug called MEDI3039, which is a monoclonal antibody that targets the protein connective tissue growth factor (CTGF) and is in the phase 1b/2a clinical trial stage.
Key Segments Profiled in the Idiopathic Pulmonary Fibrosis Management Industry Survey:
Drug Class:
- Pirfenidone
- Nintedanib
- Interferon Gammato1b
- Others
Treatment:
- Oxygen Therapy
- Lung Transplant
- Others
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐌𝐈’𝐬 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐎𝐧𝐠𝐨𝐢𝐧𝐠 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐃𝐨𝐦𝐚𝐢𝐧:
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