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2024 Global Idiopathic Pulmonary Fibrosis Market Size, Share, Trends And Growth Analysis Report | F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Bristol-Myers Squibb Company
Idiopathic Pulmonary Fibrosis Global Market Report 2024
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.
Market Overview -
Idiopathic pulmonary fibrosis (IPF) is a lung disease characterized by the gradual and continuous deterioration of the tissue encompassing the air sacs, known as alveoli, in the lungs. This condition leads to the accumulation of scar tissue (fibrosis) within the lungs, impeding the efficient transportation of oxygen into the bloodstream.
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Surge In Fibrotic Diseases Propels Growth Of Idiopathic Pulmonary Fibrosis Market
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.
Competitive Landscape -
Major companies operating in the idiopathic pulmonary fibrosis market report are F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Sanofi S.A., Gilead Sciences Inc., Toray Industries Inc., Boehringer Ingelheim International GmbH, Viatris Inc., Biogen Inc., Sun Pharmaceutical Industries Limited, Shionogi and Co. Ltd., Cipla Inc., Zydus Lifesciences Ltd., Chong Kun Dang Pharmaceutical Corp., Kyorin Pharmaceutical Co. Ltd., Galapagos NV, Veracyte Inc., Genentech Inc., FibroGen Inc., GNI Group Ltd., Pliant Therapeutics Inc., Pulmatrix Inc., Galimedix Therapeutics Inc., Avalyn Pharma Inc., MediciNova Inc., Liminal BioSciences Inc., Beijing Continent Pharmaceuticals Company, Galecto Inc.
Product Innovations Expanding Access And Affordability For Patients In The Idiopathic Pulmonary Fibrosis Market
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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