The global progressive fibrosing interstitial lung diseases (pfild) treatment market is now valued at US$ 4742.2 Million in 2023, with a CAGR of 6.2% expected. Because of technology advancements in healthcare, the market is expected to reach US$ 8654.1 million by 2033.
Major factors driving the global progressive fibrosing interstitial lung disease treatment market are increase in incidence of lung infections, surge in awareness among the people, and rigorous government initiatives to reduce the incidence of these infections.
The other factors supporting the market’s growth are, the increasing government investments on research & development activities, the growing footprint of pharmaceutical manufacturers, developed healthcare infrastructure, rising awareness among the masses, and technological advancements.
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The manufacturers are involved in the production of progressive fibrosing interstitial lung diseases treatment market in a larger capacity. Research and innovation are also conducted to launch innovative products for progressive fibrosing interstitial lung diseases treatment.
North America dominates the progressive fibrosing interstitial lung diseases treatment market due to the presence of key market players’ presence, along with recent product launches and established healthcare infrastructure, which will accelerate the market’s growth in the region. The significant R&D investments in Europe abode well for market growth.
Key Takeaways from the Market Study
- As of 2023, the progressive fibrosing interstitial lung diseases treatment market was valued at US$ 4742.2 Million
- From 2023 to 2033, the progressive fibrosing interstitial lung diseases treatment industry is poised to grow at 6.2% CAGR
- By 2033, the progressive fibrosing interstitial lung diseases treatment market is slated to reach a valuation of US$ 8654.1 Million
- Based on the distribution channel, hospital pharmacy segment accounts for market share of 65.5% during the forecast period.
- China is poised to yield a CAGR of 5.8% with respect progressive fibrosing interstitial lung diseases treatment in 2033.
“Growing healthcare spending and growing the incidence of interstitial lung diseases across the world and rapid rise in the geriatric population are expected to radically transform the market in the coming years,” comments an analyst at FMI.
Competitive Landscape
Some of the key players present in the global progressive fibrosing interstitial lung diseases treatment markets are Boehringer Ingelheim, Bristol-Myers Squibb, FibroGen, Hoffmann-La Roche Ltd, Pliant Therapeutics, Inc., United Therapeutics, Vicore Pharma AB, Avalyn Pharmaceuticals, Beijing Continent Pharmaceutical, GNI-EPS Pharmaceuticals, Inc.and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
- In February 2022, Boehringer Ingelheim announced that the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation to its novel investigational therapy, BI 1015550, for the treatment of idiopathic pulmonary fibrosis (IPF). BI 1015550 is an oral, phosphodiesterase 4B (PDE4B) inhibitor with the potential to address both pulmonary fibrosis – an irreversible scarring of lung tissue that negatively impacts lung function – and inflammation associated with progressive fibrosing interstitial lung diseases (ILDs)
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FMI, in its new offering, presents an unbiased analysis of the market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
Key Segments Covered in the Progressive Fibrosing Interstitial Lung Disease (PFILD) Treatment Market Industry Survey
Progressive Fibrosing Interstitial Lung Disease (FLILD) Treatment Market by Drug Type:
- Corticosteroids
- Immune Suppressing
- Anti-Fibrotic Medication
- Others
Progressive Fibrosing Interstitial Lung Disease (FLILD) Treatment Market by Route of Administration:
- Oral
- Injectable
Progressive Fibrosing Interstitial Lung Disease (FLILD) Treatment Market by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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