Idiopathic Pulmonary Fibrosis (IPF) Market Size, Share, Industry, Forecast and outlook (2024-2031)

Idiopathic Pulmonary Fibrosis (IPF) Market

Global Idiopathic Pulmonary Fibrosis (IPF) Market Set for Remarkable Growth, Projected to Reach US$ 4,614.3 Million by 2030

The global Idiopathic Pulmonary Fibrosis (IPF) market, valued at US$ 2,184.4 million in 2022, is poised for substantial expansion, with projections reaching up to US$ 4,614.3 million by 2030. Anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period from 2024 to 2031, the market is propelled by a notable demand surge for robust pipeline drugs.

A key market trend supporting this growth is the escalating demand for potent pipeline drugs. Illustrating this trend, GRI Bio, Inc., a leading biotechnology company, disclosed its business outlook in May 2023. The company is advancing an innovative pipeline of Natural Killer T ("NKT") cell modulators targeting inflammatory, fibrotic, and autoimmune diseases.

IPF, characterized by chronic and progressive lung scarring, primarily affects individuals aged 70 to 75, with symptoms including persistent cough, shortness of breath, fatigue, and respiratory failure. The global IPF market's momentum is driven by factors such as increasing clinical trials, a growing aging population, available therapies, expanding pipelines, heightened awareness, early diagnosis initiatives, and advancements in research techniques.

In a significant development in February 2023, Daewoong Pharmaceutical initiated a Phase II clinical trial for Bersiporocin, aiming to treat idiopathic pulmonary fibrosis. This multinational trial assesses Bersiporocin's safety and efficacy in changing forced vital capacity (FVC) improvement rates over 24 weeks.

Market Scope and Dynamics

Metrics:

CAGR: 10.1%

Size Available for Years: 2021-2030

Forecast Period: 2024-2031

Data Availability: Value (US$)

Segments Covered: Treatment, End-User, and Region

Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa

Fastest Growing Region: Asia-Pacific

Largest Region: North America

Report Insights Covered:

Competitive Landscape Analysis
Company Profile Analysis
Market Size, Share, Growth
Demand, Recent Developments
Mergers and Acquisitions
New Product Launches
Growth Strategies
Revenue Analysis
Porter's Analysis
Pricing Analysis
Regulatory Analysis
Supply-Chain Analysis
Other key Insights

To explore more insights, download a sample of the report: https://www.datamintelligence.com/download-sample/idiopathic-pulmonary-fibrosis-market

Market Dynamics

Availability of Approved Therapies

The market is driven by the availability of approved therapies for treating IPF. Antifibrotic medications like pirfenidone and nintedanib, approved by the U.S. Food and Drug Administration, have shown efficacy in slowing disease progression and improving patient outcomes. Angion Biomedica, a clinical-stage biopharmaceutical company, received FDA permission to launch a Phase 1b trial for its experimental anti-fibrotic medication ANG-3070 in May 2022.

Challenges: Limited Treatment Options and Treatment Side Effects

However, challenges include limited treatment options and potential side effects associated with antifibrotic drugs, impacting patient tolerability and adherence. Despite approval, these medications are not curative, leading to ongoing research and development initiatives.

Market Segment Analysis

Dominance of Drug Segment

In 2022, the drugs segment held 45.3% of the global IPF market share. This segment includes antifibrotic medications and potential future therapies. The high adoption of antifibrotic medications by healthcare professionals contributes to the segment's dominance.

Geographical Penetration

North America Leads Market Share

North America holds the largest market share (40.2%) due to a high disease burden and the availability of approved therapies. The region's prevalence is attributed to an aging population, environmental factors, and genetic predisposition. The United States, an early adopter of antifibrotic drugs, contributes significantly to North America's market dominance.

Key Companies

Major global players driving advancements in IPF treatment include Roche Holdings AG, Boehringer Ingelheim GmbH, Genentech Inc., FibroGen Inc., Galapagos NV, MEDICINOVA INC., Bristol Myers Squibb Company, Biogen Inc., AstraZeneca PLC, and Novartis International AG.
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