The global market for the management of Idiopathic Pulmonary Fibrosis is anticipated to reach US$ 3145 million in 2023 and US$ 3649.90 million by 2033, with a CAGR of 1.5%. The rising prevalence of the condition in men worldwide is responsible for the expansion of the idiopathic pulmonary fibrosis management market. In the historical period from 2018 to 2022, the market for the management of idiopathic pulmonary fibrosis recorded a CAGR of 1%.
Several diagnostic methods exist for identifying IPF, and guidelines for diagnosis have been established. Tests such as pulmonary function tests are used to evaluate restrictive lung disease, which is indicated by decreased lung volume (specifically, reduced forced vital capacity, total lung capacity, and functional residual capacity) and decreased diffusion capacity.
Furthermore, North America and Europe are two major regions contributing to the growth of the Idiopathic pulmonary fibrosis management market. This is owing to the high prevalence of the ailment in regions such as the Unites States of America and Germany. In addition, availability of various drugs along with innovative medication is shaping the landscape for the Idiopathic pulmonary fibrosis management market.
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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, BristoltoMyers Squibb Company, Galapagos NV, HoffmanntoLa Roche AG, Neopharm Group, Galecto Biotech, Pfizer Inc, Johnson & Johnson Services, Inc, AstraZeneca
- Johnson & Johnson Services, Inc’s 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’s 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
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Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Explore Wide-ranging Coverage of FMI’s Healthcare Landscape:
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- https://www.rolonet.com/blogs/234196/Oncology-Information-Systems-Market-Future-Scenario-Key-Insights-Top-Companies
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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