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.
Market Driver:
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.
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.
Market Restraint:
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. USD 20, 887 vs USD 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: 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.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Treatment and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Idiopathic Pulmonary Fibrosis Market, by Treatment
Idiopathic Pulmonary Fibrosis Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE IDIOPATHIC PULMONARY FIBROSIS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
