Global Idiopathic Pulmonary Fibrosis Market to 2027 - Size, Share & Industry Trends Analysis Report - ResearchAndMarkets.com

The "Global Idiopathic Pulmonary Fibrosis Market Size, Share & Industry Trends Analysis Report By Drug Type, By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Online Providers, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Idiopathic Pulmonary Fibrosis Market size is expected to reach $4.7 billion by 2027, rising at a market growth of 6.9% CAGR during the forecast period.

Some of the growth catalysts for the market are increased demand for ideal drugs for treating idiopathic pulmonary fibrosis, and favorable reimbursement policies provided by manufacturers and insurance providers in some countries. In addition, the prevalence of the fibrotic disease is on the rise, growing elderly population, and technological breakthroughs in cancer screening and detection are the key trends of the industry. On the other hand, the lack of appropriate disease treatment alternatives, on the other hand, limits market expansion.

In addition, some of the growth factors for the Idiopathic Pulmonary Fibrosis market are the surge in demand for cost-effective pharmaceuticals and the development of improved treatment options and an increase in the number of people who smoke cigarettes enhances market growth. However, the lack of therapeutic alternatives that can entirely cure the disease is expected to hamper the growth of the idiopathic pulmonary fibrosis market.

IPF affects about 100,000 people in the United States, according to the National Institutes of Health, and 30,000 to 40,000 new cases are discovered each year. IPF is expected to have a global incidence of 10.7 cases per 100,000 person-years in males and 7.4 cases per 100,000 person-years in females. Idiopathic pulmonary fibrosis is expected to affect 20 instances per 100,000 people in men and 13 cases per 100,000 people in women.

Market Growth Factors:

The growing rate of Lung Cancer

The increased global prevalence of cancer, rising healthcare costs, and increasing diagnoses have resulted in a vast patient pool undergoing screening procedures. Lung cancer, for example, is the second most prevalent cancer in both women and men, and is expected to impact over 235,000 persons in the United States by 2020, according to the American Society of Clinical Oncology (2020). According to Globocan (Global Cancer Observatory), 64,804 new cases of cancer is expected to be reported in Germany year 2020. According to the research, lung cancer claimed the lives of over 50,000 people in the country, making it the leading cause of death from cancer.

Supportive medications and clinical trials

IPF is a deadly disease that worsens over time and primarily affects the elderly with several comorbidities. Pirfenidone from Genetech and nintedanib from Boehringer Ingelheim Pharma are licensed pharmaceuticals for the treatment of IPF. These treatments help patients live longer by slowing the rate of lung function decline. Pirfenidone has been utilized in over 42,000 people around the world and has anti-fibrotic and anti-inflammatory characteristics. Both drugs are effective in slowing the progression of the condition.

A variety of medicines for IPF are now undergoing clinical testing. For example, MediciNova's Tipelukast is a tiny bioavailable molecule with anti-fibrotic and anti-inflammatory properties, that is designed to suppress gene expression and promote IPF. Interventional tests on the medication are currently in phase 2. Similarly, FibroGen's Pamrevlumab is an antibody-based treatment for IPF that is currently in phase 3 clinical trials.

Marketing Restraining Factor:

High cost of treatment and lack of awareness & qualified professionals

IPF is acknowledged to be one of the rare diseases, with a high healthcare expense that is disproportionate to the disease's prevalence. Because of the high cost of drugs and treatments for idiopathic pulmonary fibrosis, a majority of people are hesitant to use or continue taking them. As a result, the high cost of such treatments makes them unaffordable for people belonging to the low-income category.

Market Segments Covered in the Report:

By Drug Type

• Pirfenidone
• Nintedanib

By Distribution Channel

• Retail Pharmacies
• Hospital Pharmacies
• Online Providers

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Key Market Players

• GNI Group Ltd.
• Shionogi & Co., Ltd.
• Mission Therapeutics Ltd.
• Galapagos NV
• FibroGen, Inc.
• AstraZeneca PLC
• F. Hoffmann-La Roche Ltd.
• Bristol Myers Squibb Company
• Boehringer Ingelheim International GmbH
• Biogen, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/z7e7of

View source version on businesswire.com: https://www.businesswire.com/news/home/20220420005929/en/