Idiopathic Pulmonary Fibrosis (Ipf) Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, Japan, Germany, UK - Size and Forecast 2024-2028

Idiopathic Pulmonary Fibrosis Market Size 2024-2028

The idiopathic pulmonary fibrosis market size is forecast to increase by USD 1.47 billion, at a CAGR of 6.78% between 2023 and 2028. The growth of the market hinges on several key factors, notably the rising incidence of respiratory conditions, the expanding geriatric demographic, and an uptick in smoking rates. As respiratory ailments become more prevalent, there is a heightened demand for advanced treatments, medications, and healthcare services tailored to address these specific health concerns, including bronchiectasis drugs. The aging population, susceptible to respiratory illnesses due to weakened immune systems and age-related health complications, further drives market expansion. Additionally, the persistent habit of smoking contributes significantly to respiratory health challenges, necessitating continuous innovation in medical interventions and public health strategies. These factors collectively underscore the imperative for healthcare providers, pharmaceutical companies, and policymakers to invest in respiratory drugs and initiatives aimed at mitigating the impact of respiratory diseases on global health.

What will be the size of the Idiopathic Pulmonary Fibrosis Market During the Forecast Period?

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Idiopathic Pulmonary Fibrosis Market Dynamics and Customer Landscape

The market revolves around managing this chronic disorder characterized by scarring of lung tissues, which leads to impaired lung function and respiratory difficulties. Diagnostic technologies play a crucial role in early detection, while treatment options and therapeutic approaches like targeted therapies aim to improve patient outcomes. However, the high cost of treatment and limited access to therapies remain significant challenges. Drugs such as Nintedanib are pivotal in slowing disease progression, available through hospital pharmacies, retail pharmacies, and online providers. Medical care for IPF involves multidisciplinary care teams offering comprehensive medical diagnostics and specialized treatments. As research continues to advance the understanding of IPF, efforts in developing effective therapies and enhancing access to care are critical in addressing the complexities of this debilitating respiratory condition.

Key Market Driver

The increasing prevalence of respiratory diseases is notably driving the 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.

Moreover, 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.

Significant Market Trends

The emergence of new patterns of IPF is a primary trend in the 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.

Further, 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 patient monitoring and treatment for the condition. Thus, such factors are expected to fuel the growth of the market during the forecast period.

Major  Market Challenge

Obstacles to reimbursement are major challenges impeding the 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.

Further, due to the widespread nature of respiratory diseases and the potential need for medical devices 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 market growth.

Customer Landscape

The Idiopathic Pulmonary Fibrosis market research report includes the adoption lifecycle of the market research and growth, 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 market growth and forecasting strategies.

Customer Landscape

Who are the Major Market Companies?

Companies 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 companies, including:

• Alembic Pharmaceuticals Ltd.
• 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.

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.

What is the Fastest-Growing Segment in the Market?

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 the largest and was valued at USD 1.42 billion in 2018. 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.

Which are the Key Regions for the Idiopathic Pulmonary Fibrosis Market?

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Europe 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. Idiopathic Pulmonary Fibrosis (IPF) is a chronic and progressive interstitial lung disease, characterized by scarring of the lung tissue, leading to impaired lung function. IPF affects individuals irrespective of age and gender, and its etiology remains unknown. Hospital care plays a crucial role in managing IPF patients, as they often require oxygen therapy, pulmonary rehabilitation, and in severe cases, lung transplantation. The global IPF market is witnessing significant growth due to the increasing prevalence of the disease and the development of new treatments. According to various market research firms, the market is expected to expand at a steady pace over the forecast period, driven by the rising number of diagnoses and the introduction of novel therapies. Hospitals continue to be the primary point of care for IPF patients, making them a significant market for IPF-related products and services.

Segment Overview

The Idiopathic Pulmonary Fibrosis market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Route Of Administration Outlook  
  • Oral
  • Parenteral

• Drug Class Outlook  
  • Systemic corticosteroids
  • Immunosuppressants
  • Tyrosine kinase inhibitors
  • Anti-fibrotic agents

• Region Outlook  
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
    • Others
  • Rest of World
    • Brazil
    • Argentina
    • Australia

Market Analyst Overview

The Idiopathic Pulmonary Fibrosis market is shaped by hospitals and clinics offering diagnostic procedures and personalized treatment options in outpatient settings. With a rising geriatric population experiencing breathing difficulties, there's a growing patient footfall seeking non invasive imaging technologies and telemedicine solutions. Economic development influences healthcare spending and reimbursement policies, affecting access to advanced medical research and drug development. Despite financial barriers, a promising trend emerges in leveraging telemedicine and outpatient facilities to enhance care delivery. The focus on personalized treatment options underscores efforts to improve patient outcomes and manage this chronic respiratory condition effectively. As the demand for innovative solutions in IPF management grows, advancements in diagnostic technologies and therapeutic strategies continue to drive progress in addressing the complexities of this debilitating disease.

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What are the Key Data Covered in this Idiopathic Pulmonary Fibrosis Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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