Idiopathic Pulmonary Fibrosis Treatment Market Current Outlook Of Industry & Forecast 2018-2028
The global idiopathic pulmonary fibrosis (IPF) treatment market has witnessed a steadfast growth over the years, on account of the increasing lung diseases worldwide. Idiopathic pulmonary fibrosis refers to the chronic lung disease, which results in progressive reduction in all lung functions. In this condition, the damaging and thickening of the air sac’s (also known as alveoli) walls is mostly expected. Several common symptoms associated with this idiopathic pulmonary fibrosis include fatigue, nail clubbing, and dry cough, and shortness of breath. Therefore, the effective treatment is necessary in order to reduce the mortality rate due to IPF. This factor is fueling growth in the global idiopathic pulmonary fibrosis treatment market.
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In terms of drug classes, the global idiopathic pulmonary fibrosis treatment market is segmented into tyrosine kinase inhibitors, antifibrotic, and autotoxin inhibitors. Presence of strong drug pipeline positively influences the growth of the segment. The report examines the recent trends in the global idiopathic pulmonary fibrosis treatment market related to the supply, demand, and sales. Moreover, it represents major growth drivers, recent developments, opportunities, and restraints in the market.
Global Idiopathic Pulmonary Fibrosis Treatment Market: Notable Developments
Some of the recent developments which help in altering the global idiopathic pulmonary fibrosis treatment market’s dynamics in a positive way include:
FDA has permitted to design the orphan-drug, MN-001 for the treatment of idiopathic pulmonary fibrosis.
MediciNova, the company presents data on MN-001, which is known as tipelukast for the treatment of IPF.
Key companies operating in the global idiopathic pulmonary fibrosis treatment market include Merck &Co., Cipla, Biogen, Promedior., and Biogen.
Global Idiopathic Pulmonary Fibrosis Treatment Market: Key Growth Drivers
A few drivers which positively impact the growth of the global idiopathic pulmonary fibrosis treatment include:
Rapid Increase in Cigarette Smoking Population Fillips Market
Idiopathic pulmonary fibrosis is known as an interstitial lung disease, in which the lung tissues are majorly get affected or sometimes damaged. Therefore, IPF reduces the lung’s oxygen delivering capacity. Rising prevalence of several fibrotic diseases pose a high risk factor to develop idiopathic pulmonary fibrosis. Along with this, burgeoning population’s inclination towards smoking cigarettes and commercialization of novel drugs are some of the crucial factors stimulating the growth of the global idiopathic pulmonary fibrosis treatment market.
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The major symptoms noticed in the idiopathic pulmonary fibrosis are muscle and joint pain and rapid weight loss. However, further complications include heart failure, hypertension, and pneumonia or pulmonary embolism. Hence, global need to prevent these conditions is also responsible for propelling expansion in the global idiopathic pulmonary fibrosis treatment market.
Geriatric Population Suffering from IPF to Foster Market’s Growth
Several other factors responsible for the severe damage of lung tissues include the attack of certain viruses such as herpes virus and Epstein Barr virus, acid reflux from stomach, and numerous environmental factors such as breathing in the presence of dust such as asbestos fibers, silica dust, coal dust, and metal dust. To avoid such severity of lung diseases, treatments are available for the condition of idiopathic pulmonary fibrosis, which include oxygen therapy, symptom management, pulmonary rehabilitation, and lung transplant.
Moreover, various prescribed antifibrotic drugs such as Nintedanib and Pirfenidone are widely used in order to treat the condition of IPF. All these factors are providing major impetus to the growth of the global idiopathic pulmonary fibrosis treatment market. Additionally, the global idiopathic pulmonary fibrosis treatment market is growing consistently on account of the burgeoning population suffering from idiopathic pulmonary fibrosis.
Global Idiopathic Pulmonary Fibrosis Treatment Market: Regional Outlook
Geographically, North America is dominating the global idiopathic pulmonary fibrosis treatment market as the region has witnessed a sharp increase in the population affected by idiopathic pulmonary fibrosis. Along with this, rising approval of new drugs in order to treat IPF is also responsible for fueling growth in the idiopathic pulmonary fibrosis treatment market in this region.
The global idiopathic pulmonary fibrosis (IPF) treatment market is segmented:
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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