The Global Idiopathic Pulmonary Fibrosis Market Growth Accelerated By Increasing Prevalence Of Idiopathic Pulmonary Fibrosis

 

IDIOPATHIC PULMONARY FIBROSIS MARKET
Idiopathic Pulmonary Fibrosis Market


Idiopathic pulmonary fibrosis (IPF) is a chronic, progressive, and irreversible form of lung disease that causes scarring (fibrosis) of the lungs leading to stiffness and breathing difficulty. The key products in the IPF market include antibiotics, antifibrotics, oxygen therapy, lung transplantations, and physical therapy. These products play a vital role in reducing the deterioration of lung functioning and improving the quality of life in IPF patients.

The global Idiopathic Pulmonary Fibrosis Market is estimated to be valued at Us$ 4825.57 Bn in 2024 and is expected to exhibit a CAGR Of 5.1% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving the growth of the idiopathic pulmonary fibrosis market is the increasing prevalence of IPF across the globe. As per several studies, the prevalence of IPF has increased rapidly over the past few years. The exact causes of this increasing prevalence are still unknown but factors such as genetic predisposition, growing elderly population, exposure to environmental pollutants and toxins are presumed to be major contributors. As the number of IPF patients continues to rise, the demand for various treatment and management products including antifibrotics, pulmonary function tests, and lung transplantation procedures is also expected to grow significantly over the forecast period. The rising prevalence of IPF will thus remain a major growth driver for the market.

Segment Analysis

The global idiopathic pulmonary fibrosis market is dominated by the drugs segment. This is because the only approved treatment options available for IPF currently are lung transplantation and pharmacological therapies with anti-fibrotic drugs like pirfenidone and nintedanib. These anti-fibrotic drugs have shown to slow the progression of the disease and thus are being widely prescribed to manage symptoms.

Key Takeaways

The Global Idiopathic Pulmonary Fibrosis Market Demand is expected to witness high growth over the forecast period. The market size is projected to increase from US$ 4825.57 Bn in 2024 to reach over US$ 8100 Bn by 2031, registering a CAGR of 5.1% during the forecast period.

Regional analysis –

North America currently dominates the global market and is expected to continue its dominance through the forecast period. This is attributed to the growing prevalence of IPF in countries like the US as well as high adoption of anti-fibrotic drugs in the region. Asia Pacific is projected to witness the highest growth rate owing to increasing healthcare expenditure and growing awareness about the disease.

Key players –

Key players operating in the idiopathic pulmonary fibrosis market are VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd., AbbVie Inc. (Allergan PLC), Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., and Sun Pharmaceutical Industries Ltd., among others. These players are focused on expanding their product portfolios by developing more efficacious treatment options.

Get more insights on this topic :

https://www.insightprobing.com/the-global-idiopathic-pulmonary-fibrosis-market-is-driven-by-the-increasing-prevalence-of-lung-disorders/


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