Idiopathic pulmonary fibrosis Market: Summary
The Global Idiopathic Pulmonary Fibrosis Market is projected to reach a value of over USD 4.95 Million by 2027 at a CAGR of 12%.
Idiopathic pulmonary fibrosis (IPF) alternatively termed as the cryptogenic fibrosing alveolitis is the chronic and progressive fibrosing interstitial pneumonia affecting lungs. It results in scarring of the lungs ultimately reduces the oxygen intake. With progression, the functional ability of the pulmonary organ declines along with shortness in breath resulting in respiratory failure and ultimately to death. The exact cause of idiopathic pulmonary fibrosis (IPF) is still unknown. However, some risk factors include smoke, wood, dust, & gastroesophageal reflux. Despite chronic and fatal pulmonary disease, no cure treatment or drug is currently available, however, some of the therapies are efficient in reducing the progression of the lung scarring.
idiopathic pulmonary fibrosis Market: Drivers & Challenges
- Growing Elderly Population
The Idiopathic Pulmonary Fibrosis (IPF) market is expected to drive on the grounds of a rising count of the aged population across the world. The incidence of the fresh IPF cases is usually diagnosed and progressed in the aged population, whereas, the prevalence of the disease is usually low in the population ranging between 18 to 60 years. Studies have shown that the incidence of IPF among the young population ranges between 5-6 cases in 1,00,000 people annually, whereas, 11 cases in aged 1,00,000 people. World Population Prospects: the 2019 Revision by United Nations estimated that the aged population (over 65 years) will rise to 16% representing one in six people globally, uprise 9% equals to one in 11 in 2019. It further states that one in four Europe and Northern American population could be aged 65 or over by 2050. Owing to the rapidly rising aged population, which is more prone to IPF, drives the demand for IPF treatment.
- Increase in Smokers Population
Globally, the rise in smokers population across the globe is projected to push the market growth higher. One of the prominent risk factor associated with the incidence of IPF is smoking. Also, the mortality rate of the IPF patient is associated with smoking tobacco. As per the Center of Disease Control and Prevention (CDC), over 16 million Americans are suffering from disease-related or caused by smoking. It further adds, around 14 of the 100 American adults smoked a cigarette in 2018. Also, the data shared by CDC reflects that every day, around 2000 people younger than 18 years starts smoking. The rising count of smokers across the globe is creating a higher possibility of causing IPF, which further promotes the demand for IPF treatment. Due to the aforementioned factor, the IPF market is experiencing growth at a rapid rate.
The cost associated with IPF treatment to the healthcare system lies around USD 2 billion for the aged population. Whereas the annual direct medical costs of the same treatment for the IPF patient within the USA is around two-fold higher i.e. USDâ€…20,â€Š887 vs USDâ€…8,932, the basis of gender and age. The high cost of the drugs associated with idiopathic pulmonary fibrosis retards the patients from using or continue taking the drugs. Also, the increase in overall medical costs for both inpatient and outpatient services, hinder the adoption of the treatment by the patients. Owing to the high cost of the IPF treatment, the growth of this market is expected to impact negatively.
Idiopathic pulmonary fibrosis Market: Key Segments
- Segmentation based on treatment: Pharmacological Therapies and Non-pharmacological Therapies
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Idiopathic pulmonary fibrosis Market: Report Scope
The report on the idiopathic pulmonary fibrosis market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million)
Treatment and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- F. Hoffmann-La Roche Ltd (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Boehringer Ingelheim International GmbH
- MediciNova, Inc.
- Bristol-Myers Squibb Company
- Liminal BioSciences Inc.
- Merck & Co., Inc.
- Galapagos NV
- Novartis AG
- FibroGen, Inc.
- Cipla Inc
- Other Key Companies
Idiopathic pulmonary fibrosis Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Idiopathic Pulmonary Fibrosis Market, by Treatment
- Pharmacological Therapies
- Non-pharmacological Therapies
- Lung Transplant
- Cell-based Transplantation
- Oxygen Therapy
Idiopathic Pulmonary Fibrosis Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Idiopathic pulmonary fibrosis Market Providers
- Idiopathic pulmonary fibrosis Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Idiopathic pulmonary fibrosis Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE IDIOPATHIC PULMONARY FIBROSIS MARKET STUDY