Digitized versions of medical charts to flood the Pulmonary Fibrosis Treatment Market at a CAGR of 6.2%

Pulmonary Fibrosis Treatment Market 2022

Healthcare therapies are bound to witness renaissance in the years to come with technologies like Artificial Intelligence making inroads. "Augmented Intelligence" is the key concept used to serve assistive purposes. However, this certainly does not mean that it would replace clinicians. It would, instead, mean that it would improvise on the efforts of clinicians. Personalized healthcare is slated to be another important aspect of healthcare therapies in the forecast period. This would be the scene with healthcare therapies market in the near future.

Monotherapy is cost-effective and gives deliverable action directly to the site of action in a few minutes, and is said to be a safe and effective method for treating idiopathic pulmonary fibrosis (IPF). According to Persistence Market Research (PMR), request for pulmonary fibrosis treatment is predicted to increase, enabling the market to surpass US$ 2.7 Bn by 2021. Over the coming years, rising cases of IPF will support the expansion of the market.

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Incidence of IPF is rising and the disease is estimated to affect 3 million people globally (13 to 20 per 100,000 people). Considering the current pandemic scenario, global burden of fibrotic lung disease is expected to rise largely as a result of SARS-CoV-2/COVID-19. This can be primarily attributed to long-term exposure of patients to mechanical ventilation. 81% patients are aged more than 40 years with pulmonary fibrosis, as per the Pulmonary Fibrosis Foundation.

High number of research & development projects, increasing investments, and favorable regulatory policies are some other factors supporting growth of the market for pulmonary fibrosis treatment. Majority of the population living with pulmonary fibrosis is being treated with traditional corticosteroid combination drugs with limited efficacy. With the arrival of new novel therapies, unaddressed populations in middle- and lower-income countries, as well as developed countries, can offer significant revenue generation opportunities.

Key Take aways from Market Study

The global pulmonary fibrosis treatment market is expected to rise at a healthy CAGR over more than 6% through 2031.

Increasing focus on effective treatment in the U.S is lending high Y-o-Y growth to the market in the country.

Germany and France are expected to exhibit increasing demand to tackle concerns pertaining to rising incidence of IPF.

Overall, the global market is set to expand 2X over the next ten years.

Monotherapy to account for over 70% market share by 2031.

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"Rising prevalence of idiopathic pulmonary fibrosis and importance of early diagnosis are creating growth opportunities for market players in the long term," says a Persistence Market Research analyst.

Collaborations and Product Approval - Imperative Strategy for Market Players

Leading market players are strengthening their market position through collaborations with various other organizations.Global leading companies are focusing on research activities and approvals for increased market penetration.

Roche, in March 2020, received Breakthrough Therapy Designation (BTD) from the U.S FDA for Esbriet (pirfenidone), for use in adults with unclassifiable interstitial lung disease (uILD).
In June 2019, Boehringer Ingelheim entered into a collaboration andlicense agreement with Bridge Biotherapeutics Inc. (South Korea), with the aim to fast-track the development of Bridge's autotaxin inhibitor BBT-877 for treatment against fibrosing interstitial lung diseases, including idiopathic pulmonary fibrosis, a rare lung disease.
In October 2020, Cipla introduced the generic version Nintedanib for the treatment of idiopathic pulmonary fibrosis. In India, this drug will be marketed under the brand name Ninitb. Nintedanib will be available in two formulations of 100 mg and 150 mg.


What else is in the report?

Persistence Market Research offers a unique perspective and actionable insights on the pulmonary fibrosis treatment market in its latest study, presenting historical demand assessment of 2016 - 2020 and projections for 2021 - 2031, based on therapy (monotherapy, combination therapy and symptomatic treatment), indication (idiopathic pulmonary fibrosis (IPF), familial PF, and others), and distribution channel (hospital pharmacies, retail pharmacies, and mail order pharmacies), across seven key regions of the world.

Key geographies evaluated in this report are:

North America - U.S, Canada
Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC - China, India, Japan, Australia, Others
Latin America - Argentina, Brazil, Others

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Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?

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This release was published on openPR.