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Idiopathic Pulmonary Fibrosis Treatment Market Evolving Industry Trends and key Insights by 2026
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Idiopathic pulmonary fibrosis (IPF) is a chronic lung disease distinguished by progressive and irreversible reduction in lung function characterized by thickening and damaging of the walls of the air sacs (called alveoli). Common symptoms include, dry cough, gradual onset of shortness of breath, nail clubbing, and fatigue. Other symptoms are weight loss and muscle and joint pain. Further complications include, hypertension, heart failure, pulmonary embolism or pneumonia.
Major factors causing damage to the lungs include, acid reflux from stomach, certain viruses such as Epstein Barr virus and herpes virus or environmental factors such as breathing in dust such as silica dust, asbestos fibers, hard metal dust, and coal dust. Treatments for idiopathic pulmonary fibrosis (IPF) include, oxygen therapy, pulmonary rehabilitation, symptom management, and lung transplant. Prescribed antifibrotic drugs include, Pirfenidone and Nintedanib.
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Global Idiopathic Pulmonary Fibrosis Treatment Market: Drivers
The idiopathic pulmonary fibrosis treatment market size is expected to witness significant growth, owing to increasing geriatric population. According to National Institute of Health’s (NIH), 2015 report, the symptoms of IPF starts occurring at the age of 50 to 70 in the U.S. Moreover, increasing prevalence of idiopathic pulmonary fibrosis is also expected to boost the market growth. According to NIH 2015 estimates, the prevalence of idiopathic pulmonary fibrosis is 13-20 per 100,000 people worldwide.
Smoking is believed to be another cause of idiopathic pulmonary fibrosis. According to the Centers for Disease Control and Prevention (CDC), around 1 billion smokers were recorded worldwide in 2017. The global idiopathic pulmonary fibrosis treatment market revenue is expected to witness significant growth, owing to availability of antifibrotic drugs IPF such as Pirfenidone (Esbriet) and Nintedanib (Ofev). According to annual reports of F. Hoffmann-La Roche AG, worldwide sales of Esbriet in 2016 was US$ 753 million.
Global Idiopathic Pulmonary Fibrosis Treatment Market: Restraints
Lack of awareness and availability of proper treatment is expected to hinder the idiopathic pulmonary fibrosis market growth. According to National Center for Biotechnology Information (NCBI) 2017 report, 54% patients do not receive any antifibrotic treatment in Europe.
Moreover, misdiagnosis of IPF is also expected to hinder the idiopathic pulmonary fibrosis treatment market size. For instance, according to Multidisciplinary Respiratory Medicines (MRM), in 2012, around 50% of IPF cases were misdiagnosed for other lung diseases in the U.S. High cost associated with the treatment of idiopathic pulmonary fibrosis is also expected to hinder the market growth. For instance, as per the data published in American Journal of Managed Care (AJMC) in 2014, idiopathic pulmonary fibrosis treatment requires US$ 100,000 annually, in the U.S.
Global Idiopathic Pulmonary Fibrosis Treatment Market: Competitive Landscape
Major players operating in the global idiopathic pulmonary fibrosis treatment market include, Biogen, Boehringer Ingelheim, Bristol-Myers Squibb Company, Cipla, F. Hoffmann-La Roche, FibroGen, Inc., Galapagos NV, MediciNova, Inc., Merck & Co., Inc., Promedior, Inc., and Prometic Life Sciences Inc.
Global Idiopathic Pulmonary Fibrosis Treatment Market: Regional Analysis
North America held dominant position in the idiopathic pulmonary fibrosis market in 2017, owing to rising incidence of idiopathic pulmonary fibrosis. According to NIH, 2015, around 100,000 people suffer from IPF and 30,000 to 40,000 new patients are diagnosed with the disease, annually in the U.S. Moreover, increasing approval of new drugs is also expected to boost the idiopathic pulmonary fibrosis treatment market growth in the region. For instance, in 2015, Prometic Life Sciences Inc. received the first orphan drug approval for PBI- 4050 from the U.S. Food and Drug Administration (FDA). Similarly, in 2017, Plasminogen (Ryplazim) was approved as an orphan drug by the U.S. FDA.
Click To Read More On Idiopathic Pulmonary Fibrosis Treatment Market
Also, Coherent Market Insights has a proprietary database of pipeline biologics and biosimilars, called PHASE-XS. This database provides analytical data in addition to the clinical information of ongoing trials for biologics and biosimilars. An amalgamation of more than 30 parameters, PHASE-XS helps biotechnology and pharmaceutical companies to analyze the market trend, competition, and market potential. For more information or to access this database, kindly click on the below link or contact at email@example.com
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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