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The idiopathic pulmonary fibrosis market size is estimated to grow at a CAGR of 6.68% between 2022 and 2027. The idiopathic pulmonary fibrosis market size is forecast to increase by USD 1,360.99 million. The growth of the market depends on several factors, including the increasing prevalence of respiratory diseases, the growing geriatric population, and an increase in the number of smokers.
This idiopathic pulmonary fibrosis market report extensively covers market segmentation by route of administration (oral and parenteral), drug class (systemic corticosteroids, immunosuppressants, tyrosine kinase inhibitors, and anti-fibrotic agents), and geography (North America, Europe, Asia, and Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing prevalence of respiratory diseases is notably driving the market growth, although factors such as obstacles to reimbursement may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of respiratory diseases is notably driving the IPF market growth. IPF is a fatal lung condition that impairs thousands of people worldwide. Scarring of the lung tissue, which affects the ability of oxygen to be transported to the bloodstream, makes it difficult to breathe and lowers the quality of life. IPF prevalence has increased globally, which has caused researchers and healthcare professionals to express grave concern. All age groups and genders have seen an increase in IPF diagnoses in recent years, with people over 60 having a higher incidence of the disease. This is partly a result of global population aging and the consumption of unhealthful diets that fuel the growth of respiratory illnesses.
As IPF has a significant impact on the economy, the healthcare system as a whole, and the quality of life for affected people and their families, it is a major concern for medical professionals and researchers. Significant healthcare expenses, including hospitalization, medication, and other treatments, are related to the disease. IPF can also lead to disability, decreased productivity, and early retirement, which causes financial losses for both individuals and society. Thus, the increasing prevalence of respiratory diseases including IPF is expected to increase the adoption of IPF treatment, which will drive the growth of the global idiopathic pulmonary fibrosis (IPF) market during the forecast period.
The emergence of new patterns of IPF is a primary trend in the IPF market growth. New IPF patterns are starting to appear in patients all over the world. Scarring of the lung tissue, which over time causes breathing problems and a decline in lung function, characterizes this chronic and progressive lung disease. The symptom exacerbation during viral infections like COVID-19 is one of the new patterns seen in IPF patients. Researchers have discovered that viral infections can exacerbate IPF patients' symptoms and hasten the course of the disease. This is especially concerning because COVID-19 has developed into a serious public health crisis on a global scale since 2020, and people with IPF are more likely to develop a severe illness or pass away from COVID-19.
The increased use of telehealth and remote monitoring among IPF patients is another new trend that has been noticed. Many medical practices switched to virtual visits and remote monitoring in response to the COVID-19 pandemic in order to lower the risk of exposure. Patients with IPF have found this to be a useful tool because it enables them to receive care in the convenience of their own homes while still receiving the required monitoring and treatment for the condition. Thus, such factors are expected to fuel the growth of the global idiopathic pulmonary fibrosis (IPF) market during the forecast period.
Obstacles to reimbursement are major challenges impeding the IPF market growth. IPF is becoming more common everywhere, but the costs of treating it are not being covered adequately. Patients who suffer from respiratory disorders must use sophisticated medical equipment, such as nebulizers, aerosol inhalers, and oxygen systems, which are not covered by insurance policies. Services for home respiratory therapy are also excluded from reimbursement plans. As a result, respiratory therapists providing home care services encounter difficulties in facilitating access to medical facilities.
Due to the widespread nature of respiratory diseases and the potential need for ongoing intervention and monitoring, patients and their families may be subjected to a significant financial burden. Inhaled corticosteroids, which are used to stop respiratory attacks, frequently have high co-pays. Due to the high cost-sharing required, patients may be required to pay a percentage of the drug's price rather than a set co-pay. As a result, during the forecast period, the challenges related to IPF treatment or therapeutic reimbursements, which are typically very high, will have a negative impact on the idiopathic pulmonary fibrosis (IPF) market growth.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Idiopathic Pulmonary Fibrosis Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AstraZeneca Plc - The company engages in the discovery, development, manufacturing, marketing, and sale of pharmaceutical products. The key offerings of the company include idiopathic pulmonary fibrosis drugs such as saracatinib.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the oral segment will be significant during the forecast period. The oral route of administration of drugs for most indications, including IPF, is one of the easiest, most convenient, and non-invasive methods of delivering medication to the body. Since it can be administered at home and is the most patient-friendly, this route is preferred by the majority of patients. Various dosage forms for oral medications are available, including tablets, capsules, and liquid solutions that can be ingested.
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The oral segment was valued at USD 1,340.00 million in 2017 and continued to grow until 2021. The benefit of taking medications orally is that one can easily self-administer them and change the dosage if necessary. Additionally, compared to other routes of administration, oral medications have a longer half-life, which means that their effects may last longer. Oral drug delivery also does away with the need for intravenous injections or inhalable drugs, which can be uncomfortable and challenging for some patients. Thus, the oral segment in the global idiopathic pulmonary fibrosis (IPF) market is expected to witness moderate growth during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Due to the rising prevalence of respiratory diseases like IPF, the regional IPF market is predicted to experience significant growth in the upcoming years. IPF pharmaceutical products have a significant market opportunity in North America due to the rising demand for IPF treatments and medications.
The aging population is one of the main causes of the high prevalence of IPF in North America. IPF mostly affects people over the age of 60, according to the American Lung Association, and due to the aging population in North America, it is predicted that more people will develop IPF during the forecast period. Another important factor in the growth of the rising prevalence of IPF is the high rate of smoking in North America. Smokers may be more likely to develop IPF because smoking harms the lungs. As a result, it is anticipated that IPF will be more common in nations with high smoking rates, such as the US, Canada, and Mexico. Thus, such factors are expected to drive the growth of the IPF market in North America during the forecast period.
Additionally, vendors in the area concentrate on creating new medications to treat IPF patients. For instance, Sandoz International GmbH (Sandoz International) announced the introduction of the first generic version of pirfenidone for IPF patients in the US in May 2022, expanding its line of respiratory medications. These medications are effective at reducing the rate at which patients with IPF lose lung function. Thus, such new innovations in drugs are expected to propel the growth of the regional IPF market during the forecast period.
The outbreak of COVID-19 negatively affected the regional market. However, following the large-scale implementation of COVID-19 vaccination drives, the lockdown restrictions in various countries were somewhat relaxed by 2021, which led to the resumption of business activities and operations in manufacturing units. Thus, such factors are expected to boost the growth of the market in North America during the forecast period.
The idiopathic pulmonary fibrosis market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global idiopathic pulmonary fibrosis market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent, the global pharmaceuticals market, covers products and companies engaged in research and development or production of generic drugs, non-generic drugs, and veterinary drugs. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Idiopathic Pulmonary Fibrosis Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.68% |
Market growth 2023-2027 |
USD 1,360.99 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.41 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alembic Pharmaceuticals Ltd., AstraZeneca Plc, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Celix Pharma Ltd., Cipla Ltd., Daewoong Pharmaceutical Co. Ltd., F. Hoffmann La Roche Ltd., FibroGen Inc., Galapagos NV, Galecto Inc., GNI Group Ltd., Horizon Therapeutics Plc, Intas Pharmaceuticals Ltd., Jubilant Pharmova Ltd., Liminal BioSciences Inc., MediciNova Inc., Merck and Co. Inc., Mission Therapeutics, Novartis AG, Shionogi and Co. Ltd., and United Therapeutics Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Route of Administration
7 Market Segmentation by Drug Class
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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