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Idiopathic Pulmonary Fibrosis Market - Rise in Geriatric Population and Surge in Cigarette Smoking Population Boost the Market Growth
Idiopathic Pulmonary Fibrosis Market
Idiopathic pulmonary fibrosis is a disease in which pulmonary tissue becomes thicker and harder over time, decreasing the ability of the tissue to carry oxygen. The increase in the elderly population and the increase in patients suffering from idiopathic pulmonary fibrosis are expected to stimulate market growth. In addition, the growth of cigarette smoking increases the growth of the market. However, if treatment options that can completely cure the disease become unavailable, market growth will be limited.
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Perifenidone is expected to dominate the market throughout the analysis period as it helps slow the scarring and preserve lung function. Nintedanib is expected to grow at a CAGR of 12.2% over the forecast period.
Asia Pacific is expected to record a high CAGR of 13.0% over the forecast period due to population growth and aging populations suffering from fibrotic diseases. In addition, increased spending on health provides an opportunity for market growth.
The major companies profiled in the report include
• MediciNova Inc.
• Boehringer Ingelheim
• F. Hoffmann-La Roche
• FibroGen Inc.
• Promedior Inc.
• Merck & Co. Inc.
• Galapagos NV
• Biogen
• Bristol-Myers Squibb Company
• Prometic Life Sciences Inc.
• Cipla Inc.
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Key Findings of the Idiopathic Pulmonary Fibrosis Market:
• Nintedanib is projected to grow at a CAGR of 12.2% during the forecast period.
• Pirfenidone accounted for more than half of the share of the global idiopathic pulmonary fibrosis market in 2016.
• France and Germany collectively contributed for more than one-third share of the European idiopathic pulmonary fibrosis market in 2016.
• Japan was the major shareholder in 2016, accounting for more than one-third share of the Asia-Pacific idiopathic pulmonary fibrosis market.
• Brazil is the major shareholder in 2016, accounting for nearly than one-fourth share of the LAMEA idiopathic pulmonary fibrosis market.
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