Idiopathic pulmonary fibrosis is a progressive disease characterized by scarring (fibrosis) of the lungs. The IPF products on the market include drugs namely Ofev, Esbriet and more. These drugs are used to treat IPF by slowing down disease progression and improving lung functions.
The global Idiopathic Pulmonary Fibrosis Market is estimated to be valued at US$ 4188.86 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increase in incidence of chronic respiratory diseases like IPF across the globe is one of the major factors driving the growth of the idiopathic pulmonary fibrosis market. As per estimates, around 1 out of 3 Americans suffers from chronic respiratory diseases. Also, cigarette smoke and pollutants are considered as major risk factors for developing IPF. With growing urbanization and environmental pollution, more people are exposed to these risk factors, thereby increasing IPF prevalence. Furthermore, advanced age is also a risk factor as IPF mostly affects people over the age of 50. Rise in geriatric population worldwide will further propel the demand for IPF drugs over the forecast period.
Segment Analysis
Based on drugs, the global idiopathic pulmonary fibrosis market can be segmented into pirfenidone, nintedanib, and others. Pirfenidone held the largest market share in 2023 due to its efficacy in slowing down lung function decline. It is indicated as the first line of treatment for mild to moderate IPF.
Key Takeaways
The Global Idiopathic Pulmonary Fibrosis Market Size is expected to witness high growth during the forecast period of 2023 to 2030.
Regional analysis
North America dominated the global market in 2023 and is expected to remain the highest revenue generator during the forecast period due to the growing prevalence of IPF and increasing research and development activities. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period owing to the large population base susceptible to IPF in countries like China and India.
Key players
Key players operating in the idiopathic pulmonary fibrosis market are 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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