Idiopathic Pulmonary Fibrosis Market expected to register highest CAGR of 11.9% during the forecast period

Increasing patient awareness of IPF diagnosis and treatment options is expected to drive market growth. In addition, some pharmaceutical companies are focused on developing treatments for idiopathic pulmonary fibrosis that are expected to drive market growth during the forecast period.

Idiopathic Pulmonary Fibrosis Market  is projected to reach $3,569 million by 2023 from $1,616 million in 2016, growing at a CAGR of 11.9%. Perifenidone held more than half share of the total market in 2016.

Idiopathic pulmonary fibrosis is a disease in which lung tissue becomes thicker and harder over time, resulting in decreased oxygen transport capacity of the tissue. An increase in the elderly population and an increase in patients suffering from idiopathic pulmonary fibrosis are expected to drive market growth. In addition, an increase in the tobacco smoking population will boost market growth. However, the lack of access to treatment options that can completely cure the disease limits market growth.

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Perifenidone is expected to dominate the market throughout the analysis period, as this medication helps to slow scarring, and thus preserve lung function. Nintedanib is expected to register highest CAGR of 12.2% during the forecast period.

The major companies profiled in the report include MediciNova, Inc., Boehringer Ingelheim, F. Hoffmann-La Roche, FibroGen, Inc., Promedior, Inc., Merck & Co., Inc., Galapagos NV, Biogen, Bristol-Myers Squibb Company, Prometic Life Sciences Inc., and Cipla Inc.

Key Findings of the Idiopathic Pulmonary Fibrosis Market:

Nintedanib is projected to grow at a CAGR of 12.2% during the forecast period.

Pirfenidone accounted for more than half of the share of the global idiopathic pulmonary fibrosis market in 2016.

France and Germany collectively contributed for more than one-third share of the European idiopathic pulmonary fibrosis market in 2016.

Japan was the major shareholder in 2016, accounting for more than one-third share of the Asia-Pacific idiopathic pulmonary fibrosis market.

Brazil is the major shareholder in 2016, accounting for nearly than one-fourth share of the LAMEA idiopathic pulmonary fibrosis market.

Asia-Pacific is projected to register the highest CAGR of 13.0% 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.

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