Global Idiopathic Pulmonary Fibrosis Treatment Market Is Estimated To Witness Significant Growth Owing To Rising Prevalence Of Idiopathic Pulmonary Fibrosis

Idiopathic Pulmonary Fibrosis Treatment Market

Overview:

Idiopathic Pulmonary Fibrosis (IPF) is a condition where the lungs get stiff and scarred (fibrosis). This makes it harder for oxygen to pass from the lungs into the bloodstream. It is the most common form of interstitial lung disease and it is not known what causes it. However, it is thought that the lungs respond to certain substances or injuries and this triggers an abnormal repair process that eventually leads to IPF. IPF usually affects people over the age of 60 and it is more common in men than in women.

Medications such as the antifibrotic drugs nintedanib and pirfenidone can help improve the quality of life. They can slow lung damage and prevent an exacerbation, which is when symptoms suddenly get worse over days or weeks. A pulmonologist will monitor the condition and adjust the medications as needed. Oxygen therapy can help people with IPF breathe more easily and be more active.

Market Dynamics:

Increasing product launches are estimated to augment growth of the global Idiopathic Pulmonary Fibrosis Treatment Market during the forecast period. For instance, a novel diagnostic test Elecsys IL-6, is being introduced by Hoffmann-La Roche, in 2020. This test helps in detecting blood levels of the IL-6 protein. This test will help doctors in identifying IPF patients at the risk of disease progression. Moreover, unavailability of proper treatment options are anticipated to restrain growth of the global idiopathic pulmonary fibrosis treatment for market during the forecast period.

Impact of COVID-19:

The pandemic affected several nations globally. Many countries had to impose strict lockdowns in order to prevent transmission of the disease. These strict restrictions led to shutting down of manufacturing activities in many sectors. These restrictions also hampered the global economy and resulted in shutting down of trade activities.

The healthcare sector was also affected owing to rising number of COVID-19 cases. However, the demand for idiopathic pulmonary fibrosis treatment increased during the pandemic, as the patients suffering from idiopathic pulmonary fibrosis were more prone to infection. Thus, the pandemic had a positive impact on the growth of the global Idiopathic Pulmonary Fibrosis Treatment for Market.

Key Takeaways:

The global Idiopathic Pulmonary Fibrosis Treatment Market is expected to witness high growth, exhibiting CAGR of 8.7 % over the forecast period, due to increasing agreements among key players. For instance, Daewoong Pharmaceutical and CS Pharmaceuticals signed an agreement in January 2023, for a first-in-class PRS inhibitor Bersiporocin in Macau, Hong Kong, Taiwan, and mainland China.

North America is anticipated to witness significant growth in the global idiopathic pulmonary fibrosis treatment for market during the forecast period, due to growing number of patients diagnosed with idiopathic pulmonary fibrosis and increasing healthcare infrastructure.

Key players operating in the global Idiopathic Pulmonary Fibrosis Treatment Market are Shionogi & Co., Ltd, Afferent Pharmaceuticals, Prometic Life Sciences, Boehringer Ingelheim, Merck & Co. Inc., Bristol-Myers Squibb, Jubilant Cadista, Cipla Inc., F. Hoffmann-La Roche Ltd, Genentech USA Inc., TORAY INDUSTRIES, INC., ZAMBON COMPANY S.P.A., Pfizer Inc., Galecto Biotech, FibroGen,Inc., Neopharm Group, Sanofi, and Asahi Kasei Corporation.