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Burlingame, May 25, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, global idiopathic pulmonary fibrosis market is estimated to be valued at US$ 3,853.6 million in 2022 and is expected to exhibit a CAGR of 8.7% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Idiopathic Pulmonary Fibrosis Market
Analysts’ Views on Global Idiopathic Pulmonary Fibrosis Market
Increasing research and development activities for developmet of medicine for treatment of patinets suffering from idiopathic pulmonary Fibrosis by the market player is expecetd to foster the market growth over the forecast period. For instance, on March 1, 2023, InSilico Medicine (InSilico) is an artificial intelligence-driven pharma-technology company, announced that ISM-001055 is under development for the treatment of idiopathic pulmonary fibrosis (IPF), kidney fibrosis and skin fibrosis, which is administered through intravenous route, developed by Pharma AI (artificial intelligence) platform.
Key Trends and Analysis of the Global Idiopathic Pulmonary Fibrosis Market:
Increasing prevalence of Idiopathic Pulmonary Fibrosis is expecetd tpo fuel the market growth over the forecast period. For instance, on Februry 4, 2023, according to the report published in the springer nature the annual incidence of IPF (Idiopathic Pulmonary Fibrosis )has been reported to range from 0.9 to 13.0 per 100,000 persons worldwide in 2021.
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Global Idiopathic Pulmonary Fibrosis – Drivers
Increasing research and development activities by the market players for treatment of patinets suffering from idiopathic pulmonary fibrosis
Increasing research and development activities for treatment of patients suffering from idiopathic pulmonary fibrosis is expected to drive the market growth over the forecast period. For instance, in August 2022, Nerre Therapeutics Ltd., a biotechnology company, in collaboration with Pharm-Olam International, a India-based research foundation, initiated a clinical trial to evaluate the effect of two doses of orvepitant(oral) on cough in patients with IPF (idiopathic pulmonary fibrosis). This study is currently in phase 2.
Increasing prevalence of respiratory diseases worldwide
Increasing prevalence of respiratory disease worldwide is expecetd to foster the market growth over the forecast period. For instance, for instance, in June 2021, according to the report published in National Center for Biotechnology Information, reported that approximately 545 million individuals currently live with a chronic respiratory condition in 2020
Idiopathic Pulmonary Fibrosis Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 3,853.6 Mn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 8.7% | 2030 Value Projection: | US$ 7,521.2 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Genentech, Inc., Boehringer Ingelheim International GmbH, Avalyn Pharma, Inc., AstraZeneca, Blade Therapeutics, Bristol-Myers Squibb Company, Cipla Inc., F. Hoffmann-La Roche, FibroGen, Inc., Galapagos NV, MediciNova, Inc., Merck & Co., Inc., Promedior, Inc., Prometic Life Sciences Inc., Daewoong Pharmaceutical (India) Pvt Ltd, Sandoz International GmbH (Novartis) and Algernon Pharmaceuticals Inc. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Idiopathic Pulmonary Fibrosis – Restrain
Side effects associated with the drugs used in the treatment of Idiopathic Pulmonary Fibrosis
Side effects associated with the drugs used in the treatment of Idiopathic Pulmonary Fibrosis is expected to hinder the growth of market over the forecast period. For instance, some of the common side effects associated with Nintedanib (Oral Route) are
- More common
- Dark urine
- diarrhea
- loss of appetite
- nausea
- pain or tenderness in the upper stomach
- pale stools
- severe stomach pain
- vomiting
- yellow eyes or skin
- Less common
- Black, tarry stools
- blood in the urine
- blurred vision
- bruising or purple areas on the skin
- chest pain or discomfort
- coughing up blood
- decreased alertness
- dizziness and others
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Global Idiopathic Pulmonary Fibrosis – Opportunities
Increasing awareness campaign conducted by the market players on Idiopathic Pulmonary Fibrosis
The key market players are focused on conducting awareness campaign for patinets suffering from Idiopathic Pulmonary Fibrosis. For instance, in August 2020, Boehringer Ingelheim International GmbH., a pharmaceutical company conducted an Pulmonary Fibrosis Awareness for people suffering with pulmonary fibrosis during Covid-19, as people effectd with pulmonary fibrosis were more likely to get infected by the covid-19 infection.
Global Idiopathic Pulmonary Fibrosis Market- Key Developments
Among region, North America is expected to hold a dominant postion, owing to increasing product approvals from the U.S. FDA (Food and Drug Administration) by the key market players. For instance, in May 2021, ImmunoMet Therapeutics, a clinical stage biotechnology company, announced that the U.S. Food and Drug Administration (FDA) had granted fast track status to IM156, a treatment candidate for idiopathic pulmonary fibrosis (IPF).
Key Market Takeaways:
Global idiopathic pulmonary fibrosis market is expected to exhibit a CAGR of 8.7% during the forecast period, owing toincreasing research and development activities for the treatment of patients suffering from idiopathic pulmonary fibrosis by key market players. For instance, in September 2020, FibroGen, a biotechnology company, announced the initiation of clinical trial to evaluate the efficacy and safety of 30 milligrams (mg)/kilogram (kg) intravenous (IV) infusions of pamrevlumab in participants with Idiopathic Pulmonary Fibrosis (IPF). This clinical trial is currently in phase 3, and is actively recruiting.
On the basis of Route of administration, oral segment is expected to hold a dominant position, as market players are focusing on research and development activities for treatment of patients suffering from idiopathic pulmonary fibrosis. For instance, in July 2022, PureTech, a biotechnology company, announced the initiation of the clinical trial to evaluate the safety and efficacy of LYT-100, (oral drug) as compared to pirfenidone or placebo in adults with Idiopathic Pulmonary Fibrosis. The clinical trial is currently in phase 2, and is actively recruiting.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to increasing initatives by the government bodies to create awareness about idiopathic pulmonary fibrosis. For instance, in August 2022, The Pulmonary Fibrosis Foundation conducted an awareness program to make people aware about interstitial lung disease (ILD) and idiopathic pulmonary fibrosis in the U.S.
Competitive Landscape:
Key players operating in the global idiopathic pulmonary fibrosis market include Genentech, Inc., Boehringer Ingelheim International GmbH, Avalyn Pharma, Inc., AstraZeneca, Blade Therapeutics, Bristol-Myers Squibb Company, Cipla Inc., F. Hoffmann-La Roche, FibroGen, Inc., Galapagos NV, MediciNova, Inc., Merck & Co., Inc., Promedior, Inc., Prometic Life Sciences Inc., Daewoong Pharmaceutical (India) Pvt Ltd, Sandoz International GmbH (Novartis), and Algernon Pharmaceuticals Inc.
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Market Segmentation:
- Global Idiopathic pulmonary fibrosis market, By Drug:
- Pirfenidone
- Nintedanib
- Others (Interferon gamma-1b and Others)
- Global Idiopathic pulmonary fibrosis market, By Route of Administration:
- Oral
- Parenteral
- Global Idiopathic pulmonary fibrosis market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Idiopathic pulmonary fibrosis market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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