According to a comprehensive market analysis report released today, the global idiopathic pulmonary fibrosis management market is on the brink of substantial growth, projected at a Compound Annual Growth Rate (CAGR) of 1.5% from 2023 to 2033. The report, compiled by FMI, forecasts that the market, valued at USD 3145 million in 2023, is poised to reach USD 3649.90 million by 2033.
Idiopathic pulmonary fibrosis, a debilitating lung disease characterized by chronic and progressive scarring of lung tissue without a known cause, has witnessed a surge in prevalence, particularly among men globally. This escalating prevalence has emerged as a key catalyst propelling the expansion of the idiopathic pulmonary fibrosis management market.
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In the period spanning from 2018 to 2022, the market dedicated to treating idiopathic pulmonary fibrosis exhibited a CAGR of 1%, laying the groundwork for the projected acceleration in the coming decade.
Commenting on the findings, FMI stated, “The rising incidence of idiopathic pulmonary fibrosis worldwide, coupled with advancements in treatment options, is driving significant momentum in the idiopathic pulmonary fibrosis management market. With an increasing focus on research and development, stakeholders are poised to capitalize on emerging opportunities and address the unmet needs of patients.”
The report highlights the pivotal role played by innovative therapies, including antifibrotic drugs and lung transplantation, in reshaping the treatment landscape for idiopathic pulmonary fibrosis. Additionally, initiatives aimed at raising awareness, improving diagnostic capabilities, and enhancing patient access to care are expected to further bolster market growth.
As the global population continues to age and environmental factors contribute to the burden of respiratory diseases, stakeholders across the healthcare spectrum are urged to collaborate and innovate in pursuit of better outcomes for individuals living with idiopathic pulmonary fibrosis.
Key Takeaways from the Market Study:
- Idiopathic pulmonary fibrosis management market is expected to grow at a value of 1.5% CAGR in the forecast period 2023 to 2033.
- By distribution channel, retail pharmacies are expected to possess 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
- North America is expected to possess 45% market share for Idiopathic pulmonary fibrosis management market in 2023.
- Europe is expected to hold 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
“The presence of a wide range of drugs, as well as new and innovative medications, is influencing the market for managing Idiopathic pulmonary fibrosis.” states an FMI analyst
Competitive Landscape:
Key players in the idiopathic pulmonary fibrosis management market are
- Boehringer Ingelheim GMBH
- Biogen
- Novartis AG
- Medicinova Inc
- Bristol Myers Squibb Company
- Galapagos NV
- Hoffmann-La Roche AG
- Neopharm Group
- Galecto Biotech
- Pfizer Inc
Recent Development:
- Johnson & Johnson Services, Inc most recent research includes the development of a drug called losmapimod, which is an oral p38 MAPK inhibitor. The drug is currently under clinical trials.
- AstraZeneca most recent research includes the development of a drug called MEDI3039, which is a monoclonal antibody that targets the protein connective tissue growth factor (CTGF) and is in the phase 1b/2a clinical trial stage.
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Key Segments Profiled in the Idiopathic Pulmonary Fibrosis Management Industry Survey:
Drug Class:
- Pirfenidone
- Nintedanib
- Interferon Gammato1b
- Others
Treatment:
- Oxygen Therapy
- Lung Transplant
- Others
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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