Idiopathic Pulmonary Fibrosis Market Expected to Reach $6,169.37 million by 2030

According to a new report published by Allied Market Research, titled, “Idiopathic Pulmonary Fibrosis Market  by Drug Type, Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,” The idiopathic pulmonary fibrosis market size was valued at $3,126.08 million in 2020, and is projected to reach $6,169.37 million by 2030, registering a CAGR of 7.0% from 2021 to 2030.

Idiopathic pulmonary fibrosis is a disease in which lung tissues become thick and stiff over time, which results in reducing the oxygen carrying capacity of the tissues. It is a type of chronic scarring lung disease characterized by a progressive and irreversible decline in lung function. The tissue in the lungs becomes thick and stiff, which affects the tissue that surrounds the air sacs in the lungs. The most common signs and symptoms of idiopathic pulmonary fibrosis are shortness of breath and a persistent dry, hacking cough. Many affected individuals also experience a loss of appetite and gradual weight loss. Some people with idiopathic pulmonary fibrosis develop widened and rounded tips of the fingers and toes (clubbing) resulting from a shortage of oxygen

Increase in geriatric population and rise in number of patients suffering from idiopathic pulmonary fibrosis are expected to drive the market growth. In addition, rise in frequency of cigarette smoking population boosts the market growth. However, unavailability of the treatment options that can completely cure the disease restricts the idiopathic pulmonary fibrosis market growth.

On the basis of type, the global idiopathic pulmonary fibrosis market is categorized as pirfenidone & Nintedanib. Pirfenidone is expected to dominate the market throughout the analysis period, as the medication helps to slow scarring, and thus preserve lung function. Nintedanib is expected to register a CAGR of 6.6% during the forecast period. Increase in awareness among patients towards the diagnosis and treatment options for IPF is expected to increase the growth of the market. Moreover, several pharmaceutical companies focus on developing drugs for the treatment of idiopathic pulmonary fibrosis, which is expected to drive the growth of the market during the forecast period.

On the basis of distribution channel, the retail pharmacies segment accounted for a major share of the market share in the global idiopathic pulmonary fibrosis market in 2020. This segment is expected to exhibit a prominent growth rate, owing to the rapid increase of idiopathic pulmonary fibrosis rate in geriatric population, technological advancements, and lifestyle change across the world.

North America accounted for more than 41.23% of the global idiopathic pulmonary fibrosis market share in 2020, and is expected to remain dominant throughout the forecast period. This was attributed to increase in demand for IPF drugs, rise in number of trained medical professionals, and supportive reimbursement policies in the healthcare system. Asia-Pacific is projected to register the highest CAGR of 8.9% during the forecast period, owing to increase in incidence of population suffering from fibrotic disease and rise in ageing population. In addition, increase in healthcare expenditure offers a lucrative opportunity for the market growth.

The major companies profiled in the report include AstraZeneca Plc, Biogen Inc., Boehringer Ingelheim, F. Hoffmann-La Roche, FibroGen, Inc., Mission Therapeutics., GNI Group Ltd, Galapagos NV, Biogen, Bristol-Myers Squibb Company., and Shiongi Co Ltd.

Key Findings Of The Study

• By drug type, the pirfenidone segment is expected to experience rapid growth in the idiopathic pulmonary fibrosis market, and is projected to grow at a CAGR of 7.2% from 2021 to 2030
• Nintedanib is projected to grow at a CAGR of 6.6% during the forecast period.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 8.9% during the forecast period.