According to a recent market analysis report, the global idiopathic pulmonary fibrosis management market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 1.5% from 2023 to 2033. The market, valued at US$ 3145 million in 2023, is anticipated to reach US$ 3649.90 million by 2033.
Idiopathic pulmonary fibrosis, a chronic and progressive lung disease with no known cause, has seen a rise in prevalence, particularly among men worldwide. This increasing prevalence is a driving force behind the expansion of the idiopathic pulmonary fibrosis management market. Over the period from 2018 to 2022, the market for treating idiopathic pulmonary fibrosis experienced a CAGR of 1%.
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Various diagnostic methods are available for identifying IPF, with established guidelines for diagnosis. Among these methods, pulmonary function tests play a crucial role. These tests assess restrictive lung disease by measuring parameters such as forced vital capacity, total lung capacity, and functional residual capacity, which are indicative of decreased lung volume and diffusion capacity.
The growth of the idiopathic pulmonary fibrosis management market reflects the pressing need for effective treatments and diagnostic tools to address this debilitating condition. As awareness increases and diagnostic capabilities improve, the market is expected to witness sustained growth in the coming years.
Key Takeaways from the Market Study:
- Idiopathic pulmonary fibrosis management market is expected to grow at a value of 1.5% CAGR in the forecast period 2023 to 2033.
- By distribution channel, retail pharmacies are expected to possess 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
- North America is expected to possess 45% market share for Idiopathic pulmonary fibrosis management market in 2023.
- Europe is expected to hold 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
“The presence of a wide range of drugs, as well as new and innovative medications, is influencing the market for managing Idiopathic pulmonary fibrosis.” states an FMI analyst
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Competitive Landscape:
Key players in the idiopathic pulmonary fibrosis management market are
- Boehringer Ingelheim GMBH
- Biogen
- Novartis AG
- Medicinova Inc
- Bristol Myers Squibb Company
- Galapagos NV
- Hoffmann-La Roche AG
- Neopharm Group
- Galecto Biotech
- Pfizer Inc
- Johnson & Johnson Services, Inc most recent research includes the development of a drug called losmapimod, which is an oral p38 MAPK inhibitor. The drug is currently under clinical trials.
- AstraZeneca most recent research includes the development of a drug called MEDI3039, which is a monoclonal antibody that targets the protein connective tissue growth factor (CTGF) and is in the phase 1b/2a clinical trial stage.
Key Segments Profiled in the Idiopathic Pulmonary Fibrosis Management Industry Survey:
Drug Class:
- Pirfenidone
- Nintedanib
- Interferon Gammato1b
- Others
Treatment:
- Oxygen Therapy
- Lung Transplant
- Others
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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