According to a new report published by
Allied Market Research, titled, IdiopathicPulmonary Fibrosis Market by Type of Drug: Global Opportunity Analysis and
Industry Forecast, 20172023, the global idiopathic
pulmonary fibrosis market was valued at $1,616 million in 2016, and is
projected to reach $3,569 million by 2023, growing at a CAGR of 11.9% from 2017
to 2023. Perifenidone held more than half share of the total market in 2016.
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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. 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 market growth.
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.
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.
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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.
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.
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