Idiopathic Pulmonary Fibrosis Market To Reach USD 4.95 Million By 2027 | CAGR 12% – Forencis Research

Idiopathic Pulmonary Fibrosis Market - Global Industry Analysis and Forecast 2020 to 2027

Global Idiopathic Pulmonary Fibrosis Market: Key Highlights

  • According to the new market research report Idiopathic Pulmonary Fibrosis Market by Treatment (Pharmacological Therapies and Non-Pharmacological Therapies), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global idiopathic pulmonary fibrosis market is estimated to reach USD 4.95 million by 2027 at a CAGR of 12% during the review period.
  • Idiopathic pulmonary fibrosis or cryptogenic fibrosing alveolitis is the serious pulmonary disease results in scarring of the lungs leading to pulmonary failure
  • It is a progressive medical condition in which functional ability of the pulmonary organ declines along with shortness in breath resulting in respiratory failure and ultimately to death

Idiopathic Pulmonary Fibrosis Market Global Idiopathic Pulmonary Fibrosis Market: Key Market Dynamics

  • Increasing count of the elderly population especially in North America, which is more prone to pulmonary fibrosis is driving the market growth
  • Increase in incidence of the pulmonary and Interstitial Lung Disease is further fueling the market growth
  • Higher count of smoker’s population across the globe is boosting the growth of the market
  • High treatment cost of the IPF is hampering the market growth
  • Favorable Support Through Funding for the Pulmonary Fibrosis Research is acting as an opportunity for the market growth
  • Limited Access to Diagnosis and Treatment hinders the market growth

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Global Idiopathic Pulmonary Fibrosis Market: Regional Overview

  • North America

Growing healthcare sector with the increasing prevalence of IPF patients in the region is driving the market growth. As per Cleveland Clinic statistics, around 50,000 of the total US population is suffering from Idiopathic pulmonary fibrosis (IPF) along with the high incidence of estimated 15,000 new cases annually. Increasing aged population in the region drives the market growth. Population Reference Bureau stated that 52 million of the total US population are old/aged (60 years or more) and is expected to rise till 95 million by 2060. The shifting demographics of the country towards the aged and older population is driving the IPF prevalence.

  • Asia-Pacific

Asia-Pacific is one of the promising regions in the IPF market owing to the rise in the incidence of smokers in the region. Tobacco smoking is one of the prime cause of respiratory diseases in the region, which is expected to drive the demand for IPF treatment market.  Increase in prevalence of fibrotic diseases with the rising elderly population with higher spending on healthcare in the region drives the market growth.

Global Idiopathic Pulmonary Fibrosis Market: Key Players Overview

  • F. Hoffmann-La Roche Ltd.:

F. Hoffmann-La Roche Ltd is the Switzerland based healthcare company operates globally through a vast product portfolio. The company operates through two business segment, therapeutics and diagnostics product range. F. Hoffmann-La Roche Ltd offers Esbriet, an oral anti-fibrotic drug for treating the Idiopathic Pulmonary Fibrosis (IPF) patients. U.S. Food and Drug Administration (FDA) and the European Commission in 2017 approved the Esbriet 801 mg and 267 mg tablets as an alternative capsule formulation. In March 2020, US FDA granted Breakthrough Therapy Designation (BTD) to Esbriet (pirfenidone) for the adult patients with unclassifiable interstitial lung disease (uILD).

  • Boehringer Ingelheim International GmbH:

Boehringer Ingelheim International GmbH is the pharmaceutical company with global headquarters in Ingelheim am Rhein, Germany. The company delivers products dedicated for enhancing human and animal health. It delivers products [PK1] for cardiovascular, oncology, respiratory, nervous system, metabolic and others.  The company offers Idiopathic pulmonary fibrosis (IPF) treatment products, under the brand name: OFEV with approval in USA, Brazil, Canada, Japan and other countries.

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Rep Id : HC 036

Published : 2020-09-17

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