Market Highlights
It is estimated that the global Idiopathic Pulmonary Fibrosis (IPF) Treatment market Size is expected to register a CAGR of 12.3% during the forecast period of 2023 to 2030, with a market value of USD 2,237 million in 2030.
IPF is a life-threatening condition of the lungs in which tissues becomes thickened, stiff, and scarred over a long period. The IPF treatment market is driven by various factors such as growing demand for minimally invasive procedures to diagnose and treat different chronic diseases, increasing geriatric population, along with the rising prevalence rates of IPF and other fibrotic diseases. However, the high cost of surgery and the unavailability of proper treatment options are expected to curb the growth of the IPF treatment market.
The global idiopathic pulmonary fibrosis market is currently dominated by numerous market players. The key players are involved in new product launches and strategic collaborations to strengthen its market position. For instance, in September 2022, FibroGen, Inc. announced that the grant of Fast Track designation by US Food and Drug Administration (FDA) for the company’s anti-CTGF antibody, Pamrevlumab, for the treatment of patients with IPF.
Key Players
Some of the key players in the global IPF treatment market are Boehringer Ingelheim GMBH, Biogen, Novartis AG, Medicinova, Inc., Bristol-Myers Squibb Company, Galapagos NV, F. Hoffmann-La Roche AG, Fibrogen, Inc., Cipla, Merck Co., Inc., Prometic Life Sciences Inc., and others.
Segmentation
The global Pulmonary Function Testing Market has been segmented based on treatment.
The market, based on treatment, has been further divided into drug class, oxygen therapy, lung transplant, and others. The drug class segment is likely to hold a major share in the market due to the increasing adoption of the drugs for the treatment of IPF and wider preferability. The oxygen therapy segment is predicted to be the fastest growing due to the increasing inclination of medical professionals towards this therapy for the treatment of IPF.
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East Africa. The IPF treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European IPF treatment market has been sub-divided Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The IPF treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The IPF treatment market in the Middle East Africa has been divided into the Middle East and Africa.
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