Idiopathic Pulmonary Fibrosis Market Project To Witness High Growth Owing To Rising Geriatric Population

Idiopathic Pulmonary Fibrosis Market Project To Witness High Growth Owing To Rising Geriatric Population

It is characterized by scarring of the lungs over time without a known cause. IPF primarily affects adults over the age of 50 years and is more common in men. The need for treatment of the chronic lung disorder has increased significantly with rising geriatric population. IPF affects around five million people worldwide and its prevalence is increasing over the years. The aging population is more susceptible to chronic respiratory diseases such as IPF. Moreover, air pollution levels have increased significantly contributing to the rising IPF cases globally.

The Global Idiopathic Pulmonary Fibrosis Market is estimated to be valued at US$ 4,825.57 Billion in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the Idiopathic Pulmonary Fibrosis Market Size are VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd., AbbVie Inc. (Allergan PLC), Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., and Sun Pharmaceutical Industries Ltd., among others.

Key opportunities in the market include the launch of new treatment options and drugs. Increasing research and development activities are likely to lead to the approval of new therapies for the treatment of IPF. For instance, in 2023, Astra Zeneca received FDA approval for its triple-therapy combination of brensocatib, tezepelumab and nintedanib. The triple therapy demonstrated improved efficacy compared to existing mono or dual therapy treatments.

The major players are focusing on expanding their geographical presence through strategic partnerships and collaborations. For instance, in 2021, Johnson & Johnson launched IPF drug Orkambi in Canada in partnership with Vertex Pharmaceuticals. In 2022, Novartis signed agreements with Roche and ITeos Therapeutics to develop potential new therapies for IPF and other interstitial lung diseases. Such deals and collaborations are supporting the global expansion of key companies in the market.

Market drivers:
The rising geriatric population, susceptible to chronic respiratory conditions such as IPF, is a key driver for the market. As per statistics, around 20% of the global population will be aged over 65 years by 2050. Moreover, growing air pollution levels and environmental toxins are contributing to the increasing prevalence of IPF over the years. According to some estimates, overall IPF cases could increase by over 40% in the next decade.

Market restraints:
High costs associated with IPF treatment act as a restraint for the market. Existing drug therapy options are priced upwards of US$ 150,000 per year in some countries. Poor diagnosis and limited awareness about IPF in developing nations also limit the market growth. Significant side effects associated with drug therapies, impacting treatment adherence, pose another challenge.

Segment Analysis

The idiopathic pulmonary fibrosis market is divided into the following segments: drugs, devices, and services. Among these, the drugs segment dominates and will continue to dominate during the forecast period since drug treatment is the first line of treatment for idiopathic pulmonary fibrosis. Within drugs, anti-fibrotic drugs such as pirfenidone and nintedanib are the leading sub-segment as they are approved monotherapies for idiopathic pulmonary fibrosis.

Global Analysis

North America dominates the global idiopathic pulmonary fibrosis market and will continue its dominance during the forecast period due to the increasing prevalence of idiopathic pulmonary fibrosis in countries like the United States. Also, there is high awareness about idiopathic pulmonary fibrosis among people. The availability of advanced healthcare facilities and presence of key players in North America contribute to its large share. Asia Pacific is expected to be the fastest-growing region due to the growing geriatric population, increasing accessibility to healthcare facilities, and rising healthcare expenditure in countries like India and China. Also, improving awareness about idiopathic pulmonary fibrosis is fueling market growth in Asia Pacific.

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