Idiopathic Pulmonary Fibrosis (IPF) Treatment Market Overview
The global idiopathic pulmonary fibrosis (IPF) treatment market is estimated to enroll a CAGR of 12.3% during the figure time of 2019 to 2025 with a market estimation of USD 2237 million out of 2018. Idiopathic pulmonary fibrosis is a kind of interstitial lung ailment in which the lung tissues are harmed, in this manner lessening its oxygen conveying limit. Increment in frequency of fibrotic illnesses represents a high-hazard factor for idiopathic pulmonary fibrosis.
Moreover, ascend in geriatric populace and flood in cigarette smoking populace support the market development. In any case, the genuine reason for the illness is obscure because of which there is inaccessibility of drugs obstructs the market development. Increment in the quantity of maturing populaces has been seen around the world. As per a WHO report, around 524 million individuals were over 65 years in 2010, and the number is relied upon to arrive at 1.5 billion by 2050, which is evaluated to comprise about 16% of the all-out total populace. Along these lines, increment in old people is relied upon to bring about ascent in rate of lung issue, which thusly expands the hazard for idiopathic pulmonary fibrosis, in this manner energizing the market development.
The way that the worldwide base of geriatric populace is foreseen to develop over the gauge time frame and is required to serve this market as a high effect rendering driver. As indicated by the World Population Aging Report 2015 by United Nations, the quantity of older individuals matured 60 years or more is relied upon to develop by 56%, i.e., from 901 million out of 2015 to 1.4 billion of every 2030. What's more, the quantity of old individuals matured 80 and over is anticipated to significantly increase by 2050 and will arrive at 434 million.
Idiopathic Pulmonary Fibrosis (IPF) Treatment Market Competitive Analysis:
Some of the major companies in the global idiopathic pulmonary fibrosis (IPF) treatment market include Boehringer Ingelheim GMBH, Novartis AG, Biogen, Medicinova, Inc., Galapagos NV, Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG, Cipla, Fibrogen, Inc., Prometic Life Sciences Inc., and Merck & Co., Inc.
Idiopathic Pulmonary Fibrosis (IPF) Treatment Market Segmentation:
The idiopathic pulmonary fibrosis (IPF) treatment market is segmented on treatment and region.
On the basis of the treatment, the market is estimated to segmented into drug class, oxygen therapy, lung transplant, and others. Of these, drug class is further segmented into mitogen-activated protein kinases (MAPK) inhibitors, autotaxin inhibitors, tyrosine kinase inhibitors, and others.
Idiopathic Pulmonary Fibrosis (IPF) Treatment Market Regional Analysis:
Regionally, the idiopathic pulmonary fibrosis (IPF) treatment market is segmented into the Americas, Asia-Pacific, Europe, and Middle East & Africa. Of these, North America is estimated to remain dominant in the global idiopathic pulmonary fibrosis (IPF) treatment market in the coming period owing to the increasing per capita healthcare expenditure. Additionally, the higher adoption of newer technologies in the region is likely to fuel the market growth in the coming years. Increasing prevalence’s of pulmonary and cystic fibrosis in the countries including the U.S. and Canada are expected to fuel the market growth. Moreover, surge in expenses in the research by healthcare bodies and companies are expected to propel the growth of market particularly in the region. In addition, the market in Europe is experiencing a considerable growth during the estimated time frame. This growth can be credited to presence of a well-established healthcare system, the involvement of key companies, and an increase in chronic diseases. Therefore, the market is expected to grow during the forecast period. However, the market in Asia Pacific is estimated to display a steady growth rate over the forecast period due to the increasing pool of patient population coupled with increasing government initiatives for healthcare reforms.
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Idiopathic Pulmonary Fibrosis (IPF) Treatment Industry News:
For instance, in May 2019, AstraZeneca, entered into a collaboration with Benevolent AI to use artificial intelligence for the development and discovery of new treatment for IPF and Chronic Kidney Disease (CKD).
