iCrowd Newswire – Jul 23, 2020
Idiopathic Pulmonary Fibrosis Market size is forecast to reach $3.27 billion by 2025, growing at a CAGR of 12.39% during the forecast period 2020-2025. Idiopathic pulmonary fibrosis is a disease in which lung tissues become thick and stiff over time which results in reducing the oxygen carrying capacity of the tissues. Increasing prevalence of idiopathic pulmonary fibrosis and increasing geriatric population are the major factors driving the growth of the market. Increase in a number of patients suffering from idiopathic pulmonary fibrosis activities owing to smoking is set to further enhance the overall market demand of idiopathic pulmonary fibrosis during the forecast period 2020-2025.
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Product- Segment Analysis
Pirfenidone is an antifibrotic agent that has been evaluated in three multinational phase 3 trials in patients with idiopathic pulmonary fibrosis (IPF). Idiopathic pulmonary fibrosis (IPF) is a rare and progressive disease of unknown etiology characterized by dyspnea and deterioration of lung function, with poor quality of life and a median survival time. Pirfenidone inhibits fibroblast proliferation and collagen synthesis and deposition, both in vitro and in animal models. Nintedanib is a tyrosine kinase inhibitor with antifibrotic properties that has also been shown to significantly reduce the progression of the disease. Nintedanib is effective and well tolerated for the treatment of IPF in mild, moderate and severe stages of the disease. It is estimated that pirfenidone will be the highest growing segment of the idiopathic pulmonary fibrosis market during the forecast period 2020-2025.
Application – Segment Analysis
People who have idiopathic pulmonary fibrosis, atrial arrhythmias, such as atrial flutter and atrial fibrillation, are the most common type of abnormal rhythm. Idiopathic pulmonary fibrosis most commonly affects middle-aged to older adults and is characterized by the scarring of lung tissues. In older people, these scars tend to build up and affect the normal functioning of lungs. Thus, an increase in aging population leads to increased prevalence of the disease and thus it is estimated that Arrhythmias will be the highest growing segment in the forecast period.
Geography – Segment Analysis
North America dominated the idiopathic pulmonary fibrosis market in 2019 with a share of more than 39.7%, followed by Europe owing to the increasing prevalence of idiopathic pulmonary fibrosis and the increasing geriatric population. Increasing number of patients suffering from fibrotic disease is increasing the growth of the idiopathic pulmonary fibrosis market in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2020-2025 .This is attributed to the rising number of cigarette smoking people, rising lifestyles, increasing provenance of the cardiovascular diseases and increasing awareness about health is increasing the growth of the idiopathic pulmonary fibrosis market in this region.
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Drivers – Idiopathic Pulmonary Fibrosis Market
- Rise in Geriatric Population
Rise in Geriatric Population is increasing the growth of the idiopathic pulmonary fibrosis market owing to the increase in the number of aging population. Increase in elderly individuals is estimated to result in rise in incidence of lung disorders, which in turn increases the risk for idiopathic pulmonary fibrosis, thereby fueling the market growth. Idiopathic pulmonary fibrosis may also be caused due to genetic predisposition or develop from other lung condition. Some of the medical conditions, which may develop in a patient with idiopathic pulmonary fibrosis include obstructive sleep apnea, chronic obstructive pulmonary disease, coronary artery disease and gastro oesophagal reflux disease.
- The increasing number of idiopathic pulmonary fibrosis incidence
The increasing number of idiopathic pulmonary fibrosis incidence is increasing the growth of the idiopathic pulmonary fibrosis market. Idiopathic pulmonary fibrosis is a type of lung disease that results in scarring of the lungs for an unknown reason. The clinical symptoms of idiopathic pulmonary fibrosis are nonspecific and can be shared with many pulmonary and cardiac diseases. The fibrosis in idiopathic pulmonary fibrosis has been linked to cigarette smoking, environmental factors (e.g. occupational exposure to gases, smoke, chemicals or dusts), other medical conditions including gastroesophageal reflux disease (GERD) or to genetic predisposition. Thus, increasing the growth of the idiopathic pulmonary fibrosis incidence market.
Challenges – Idiopathic Pulmonary Fibrosis Market
- Unavailability of the treatment options
Some of the factors which can impede the growth of the idiopathic pulmonary fibrosis market are unavailability of the treatment options that can completely cure the disease and increase in incidence of fibrotic disease.
- In March 2019, Biogen Inc., announced agreement to acquire Nightstar Therapeutics.
- In November 2018, Cipla Inc., announced agreement with Avenue Therapeutics.
- North America dominates the Idiopathic Pulmonary Fibrosis Market in 2019 owing to the increasing number of idiopathic pulmonary fibrosis incidence and availability of drugs. The Idiopathic Pulmonary Fibrosis Market scope for different regions will be provided in the final report.
- Increasing prices of the drugs and Increase in the number of people smoking cigarettes is likely to aid in the market growth of idiopathic pulmonary fibrosis.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Idiopathic Pulmonary Fibrosis Market report.
- Unavailability of the treatment options that can completely cure the disease and increase in incidence of fibrotic disease is poised to create hurdles for the Idiopathic Pulmonary Fibrosis Market.
Idiopathic Pulmonary Fibrosis Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the idiopathic pulmonary fibrosis market. In 2019, Idiopathic Pulmonary Fibrosis Market share is consolidated by the top ten players present in the market. Idiopathic Pulmonary Fibrosis , top 10 companies are Biogen, Inc , Boehringer Ingelheim Gmbh , Bristol-Myers Squibb Company , Cipla Inc , F. Hoffmann-La Roche Ag , Fibrogen, Inc , Galapagos Nv , Medicinova, Inc , Merck Co , Inc and Prometic Life Science Inc among others.
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