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Global Idiopathic Pulmonary Fibrosis Therapeutic Market Size, Share - Industry Trend and Forecast 2016 - 2024
A rare lung disease often terminal, idiopathic pulmonary fibrosis (IPF) is an interstitial lung disease affecting the lung interstitium. Patients diagnosed with IPF suffer an extreme lung deterioration resulting a decline in the lung functioning. IPF causes 'pulmonary fibrosis', which basically means damaging of the lung tissues. Breathing distress is the most common intricacy involved with idiopathic pulmonary fibrosis.
The cause of idiopathic pulmonary fibrosis still remains unknown, however, it is mostly linked with excessive inhalation of smoke or dust, exposure to unhealthy gases and chemicals and smoking of cigarettes. IPF may also be caused due to genetic predisposition or develop from other lung condition.
Some of the medical conditions, which may develop in a patient with idiopathic pulmonary fibrosis (IPF) include obstructive sleep apnea, chronic obstructive pulmonary disease, coronary artery disease and gastro oesophagal reflux disease. A set of guidelines has been released for managing such conditions accordingly.
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Idiopathic Pulmonary Fibrosis Therapeutic Market Trends
In the recent years, higher incidence of idiopathic pulmonary fibrosis has been noticed, which has fueled the demand for idiopathic pulmonary fibrosis therapeutics. The introduction of novel medicines and advancement in treatment methods of the disease has further supplemented the overall growth of the market. Nintedanib and Pirfenidone are the two most common anti-fibrotic drugs used for the treatment of idiopathic pulmonary fibrosis.
There is no absolute cure for idiopathic pulmonary fibrosis available as yet. A large portion of the treatment is directed to provide temporary relieve to the patients. Failure to provide a complete cure and limited treatment options are considered as major setbacks of the market. Limited drug options with low efficiency are further hindering the growth of the global idiopathic pulmonary fibrosis market.
Greater focus on effective drug treatment of idiopathic pulmonary fibrosis has led to the development of few quality drugs such as Vargatef and Ofev. These drugs effectively reduce the patient’s discomfort and ease the functioning of the lung. In addition, increasing R&D programs for development of new therapies to successfully treat IPF in expected to favor the market in the near future. For instance, recently two major pharmaceuticals companies Inventiva SAS and Boehringer Ingelheim GmbH have decided to jointly work on developing potential new treatments for IPF.
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Idiopathic Pulmonary Fibrosis Therapeutic Market: Region-wise Analysis
On the basis of region, the global idiopathic pulmonary fibrosis therapeutics market has been segmented into six key regions namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (APAC), and the Middle East & Africa. Europe and North America are considered as the two largest market of idiopathic pulmonary fibrosis therapeutics. In addition, the presence of major pharmaceutical companies in these two regions has positively impacted the growth of the market. Countries such as the US, Canada, Germany, France and Britain have accounted for a healthy demand of idiopathic pulmonary fibrosis therapeutics attributed to the increasing number of IPF incidence occurring in these countries. The global IPF therapeutics market is expected to register a healthy growth in the upcoming years.
Few of Key players in the global idiopathic pulmonary fibrosis therapeutic market include AdAlta Pty Ltd., Biogen, Inc., Angion Biomedica Corp., Chong Kun Dang Pharmaceutical Corp., FibroGen, Inc. Progenra, Inc, Boehringer Ingelheim GmbH and Vectura Group plc. Most companies the focusing on further product development and offer a wider range of IPF therapeutic treatments.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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