Idiopathic Pulmonary Fibrosis Market Overview:
Idiopathic Pulmonary Fibrosis Market was valued at $1,616million in 2016, and is estimated to reach $3,569 million by 2023, growing at a CAGR of 11.9% from 2017 to 2023. Idiopathic pulmonary fibrosis is a type of interstitial lung disease in which the lung tissues are damaged, thereby reducing its oxygen delivering capacity. Increase in incidence of fibrotic diseases poses a high risk factor for idiopathic pulmonary fibrosis.
In addition, rise in geriatric population and surge in cigarette smoking population boost the market growth. However, the real cause of the disease is unknown due to which there is unavailability of medications impedes the market growth.
Rise in Geriatric Population
Increase in the number of aging population has been witnessed worldwide. According to a WHO report, around 524 million people were above 65 years in 2010, and the number is expected to reach 1.5 billion by 2050, which is estimated to constitute about 16% of the total world population. Thus, increase in elderly individuals is expected to result in rise in incidence of lung disorders, which in turn increases the risk for idiopathic pulmonary fibrosis, thereby fueling the market growth.
Growth in Asia-Pacific
Asia-Pacific offers lucrative opportunities for the market growth, owing to presence of large pool of patients suffering from fibrotic disease. In addition, increase in efforts undertaken by various companies to launch new medications that are currently into pipeline analysis supplement the growth of the idiopathic pulmonary fibrosis market in Asia-Pacific.
Global Idiopathic Pulmonary Fibrosis Market Segmentation
The global idiopathic pulmonary fibrosis market is segmented on the basis of type of drug and region. According to type of drug, the market is divided into pirfenidone and nintedanib. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in this market include MediciNova, Inc., Boehringer Ingelheim, F. Hoffmann-La Roche, FibroGen, Inc., Promedior, Inc., Merck & Co., Inc., Galapagos NV, Biogen, Bristol-Myers Squibb Company, Prometic Life Sciences Inc., and Cipla Inc.
South Africa Idiopathic Pulmonary Fibrosis Market, 20162023 ($million)
- The study provides an in-depth analysis of the global idiopathic pulmonary fibrosis market with current trends and future estimations to elucidate the imminent investment pockets.
- Quantitative analysis from 2016 to 2023 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
Idiopathic Pulmonary Fibrosis Market Key Segments:
By Type of Drug
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA