Idiopathic Pulmonary Fibrosis Market Size to hit USD 5326.8 Million in 2028 | Growing at 7.1 % CAGR, Says Brandessence Market Research

LONDON, June 3, 2022 /PRNewswire/ -- The Idiopathic Pulmonary Fibrosis Market size is expected to reach USD 5326.8 Million by 2028, registering to accelerate at a 7.1% CAGR, according to the most recent study by Brandessence Market Research & Consulting Pvt ltd.

The Global Idiopathic Pulmonary Fibrosis Market size was Valued at USD 3295.6 Million in 2021. Increasing geriatric population, rising smokers population, increasing prevalence of fibrotic diseases, and growing demand for idiopathic pulmonary fibrosis are some of the major factors driving the growth. "Idiopathic Pulmonary Fibrosis Market Size, Share, And Trends Analysis By Drug Type (Nintedanib, Pirfenidone) By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) Based On Region, And Segment Forecasts, 2022 – 2028"

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Idiopathic Pulmonary Fibrosis Market: Market Scope

The global idiopathic pulmonary fibrosis market all over the world is going to be growing at a great rate with the world suffering intensively from the chronic lung diseases. There are lung conditions which the world is going to see an increase in and many people in the world will be suffering from it continuously. The term idiopathic pulmonary fibrosis refers to a chronic disease in the lungs or the condition in which the lung tissues become stiff and thick over the period of time. Because of this, there is a thickening of the lung tissues, brain or any other organ.

This results in them not receiving the optimum level of oxygen. These are conditions which cause the scar tissues to be built up in a person's lungs which is going to make the lungs unable to transport any amount of oxygen in a person's bloodstream in an effective manner. The disease has the greatest effect in people who are older. These are lung diseases which involve the inflammation or the lungs being scarred.

Idiopathic Pulmonary Fibrosis Market: Segmentation Analysis

The segmentation of the global idiopathic pulmonary fibrosis market has been done based on the type, distribution channel as well as region. As per the type of drug, this is a market which has been segmented into the nintedanib, pirfenidone and others. When it comes to the distribution channels, the market ha been segmented into hospital pharmacies, online providers and retail pharmacies. The segment which is currently dominating the market is the segment of the retail pharmacies. This is also going to remain the most dominant market in the coming years as a prominent growth rate will be witnessed in the number of consultations that happen with regard to the idiopathic pulmonary fibrosis. This will drive the segment quite a bit particularly in the developed nations.

Idiopathic Pulmonary Fibrosis Competitive Analysis - As the global idiopathic pulmonary fibrosis market size has grown, many companies have found their pace in the market. The major companies here are the company like Biogen Inc., AstraZeneca Plc, F. Hoffmann-La Roche Boehringer Ingelheim, Mission Therapeutics.,  FibroGen, Inc., Biogen, Bristol-Myers Squibb Company., Mission Therapeutics, F. Hoffmann-La Roche, AstraZeneca Plc, GNI Group Ltd, Galapagos NV, as well as Shiongi Co Ltd. The market players are making sure that they spread awareness about their products which will be a key to their success as many people are yet unaware about the existence of this disease. Also important is reducing the cost of these diseases.

Recent Developments

News-Bohringer Ingelheim's Latest Diagnostic Treatment Reduced Lung Function In People with Idiopathic Pulmonary Fibrosis

On May 15^th, 2022; Boehringer Ingelheim released Phase II data for BI 1015550, a new test phosphodiesterase 4B (PDE4B) inhibitor, published in the New England Journal of Medicine. The 12-week promising data showing a decrease in lung function in patients with idiopathic pulmonary fibrosis (IPF) was presented at the American thoracic society (ATS) international conference breaking news session on May 16 in San Francisco.

Sandoz Launched the First Generic Pirfenidone in the US for Patients with Idiopathic Pulmonary Fibrosis, Growing its Respiratory Portfolio.

On May 12^th, 2022; Sandoz, a global leader in generic and biosimilar drugs, announced the US launch of the generic paraphenidone, idiopathic pulmonary fibrosis (IPF), the equivalent of Genetek's Esbriet. Prescription Oral Medicine is readily available to patients through a special pharmacy, with a $ 0 co-pay program for eligible patients.

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Idiopathic Pulmonary Fibrosis Market: Key Drivers

The global idiopathic pulmonary fibrosis market growth will be dependent on its market drivers. The growth is going to happen in the coming years due to the growth in the demand for the ideal drugs for treatment of the idiopathic pulmonary fibrosis. What also drive this market is that the reimbursement policies which are provided by the insurance providers and manufacturers in many countries are favorable. There are many other factors which are driving the growth of this market which include the rising prevalence of the fibrotic diseases which needs the treatment from this market.

Another big factor behind the global idiopathic pulmonary fibrosis market growth is the fact that the geriatric population is growing all over the world. Further, there is an addition or a surge in the demand for the drugs which are cost-effective along with the introduction of treatment options which are advanced in nature and highly developed. This is going to grow the market as it benefits the patients greatly. What does peg the market though is the fact that the treatment is pretty unidimensional. There aren't many options available when it comes to the kind of treatments which are available in the market for this kind of a disease. This is why the treatment options are not going to be available anytime soon. This pegs the global idiopathic pulmonary fibrosis market back a bit.

Idiopathic Pulmonary Fibrosis Market: Key Trends

The global idiopathic pulmonary fibrosis market trends show that the market was affected negatively by the market. The reason behind this negative growth was the focus that was put on the covid treatment. This also meant that there were lockdowns enforced all over the world and it led to an increase in the social distancing norms and regulations. The disease started spreading rapidly and the patients who were coming in contact with the virus were being affected by it and the disease was spreading continuously.

The virus had many symptoms and mad it difficult to breathe for the people who were affected by it. The virus also affected the geriatric population which created a situation where the geriatric population was afraid of going to get their treatment for the Idiopathic Pulmonary Fibrosis with the fear of contracting the coronavirus. The social distancing was anyway observed to curb the spread. The impact remained negative for the large part of the pandemic period but things are looking upwards for this market.

The global idiopathic pulmonary fibrosis market 2022 look to be showing great development as people have received vaccines and particularly the geriatric population will now be willing to find a solution to this issue which would have plagued them in the last few years. The developed economies have been more affected by the disease as the standard of livings have been unhealthy and the eating habits have deteriorated with the obesity levels increasing. Further the geriatric population is also higher in these region.

Reginal Analysis:

The global idiopathic pulmonary fibrosis market has been segmented by region into different markets of which the North American market is the one which is going to show the greatest amount of growth in the market. There are research activities which are going to take place in the market. Another benefit in this region is the developed infrastructure for this disease and the government infrastructure which is going to help in the market development. The other regions which will show growth are countries like Europe where there are manufacturers which assists the growth of the market in the region.

On Special Requirement Idiopathic Pulmonary Fibrosis Market Report is also available for below region:

North America

• U.S, Canada

Europe

• Germany, France,U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

• South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

• Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

• Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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