Global Idiopathic Pulmonary Fibrosis (IPF) treatment market is estimated to increase at a significant rate over the forecast period. IPF is a rare disease but one of the most common forms of interstitial lung diseases. Growing geriatric population is one of the key drivers expected to drive the market growth.
Increasing prevalence of IPF is anticipated to propel the market. According to the National Institutes of Health (NIH), nearly 30,000 to 40,000 new cases of IPF are diagnosed each year and 100,000 people are affected in the U.S. Furthermore, commercialization of novel drugs and surge in cigarette smoking population are some of the other key factors expected to boost the market growth over the forecast period.
Aging is considered as the greatest risk factor for development. Hence, the fact that the global base of geriatric population is expected to grow over the next six years is expected to serve this market as a high impact rendering driver. According to the World Population Aging Report 2015 by United Nations, the number of elderly people aged 60 years and above is expected to grow by 56%, i.e., from 901 million in 2015 to 1.4 billion in 2030. In addition, the number of elderly people aged 80 and over is projected to triple by 2050 and will reach 434 million.
On the basis of drug class, the market is segmented into antifibrotic, tyrosine kinase inhibitors, and autotaxin inhibitors. Presence of strong pipeline is likely to have a positive impact on the segment growth. Esbriet by F. Hoffman La Roche and Ofev by Boehringer Ingelheim International GmbH are the only drugs approved by the FDA for the treatment of IPF.
Based on region, the market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East Asia. North America is estimated to hold the largest market share in 2018 owing to the increasing prevalence of IPF and growing awareness regarding the available treatment options. Major industry participants include F. Hoffman La Roche, Boehringer Ingelheim International GmbH, MediciNova, Inc, Promedior, Inc., Merck & Co., Inc., Biogen, Prometic Life Sciences Inc., Cipla, Inc., and Bristol-Myers Squibb Company.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."