Articles

Idiopathic Pulmonary Fibrosis Treatment Market: Presence of a Strong Pipeline

by Susan Hill Business Consultant

The global idiopathic pulmonary fibrosis treatment market size is expected to reach a value of USD 5.2 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 12.7% during the forecast period. Increasing R&D initiatives undertaken by companies and surge in cigarette smoking population are anticipated to boost the growth.

Rise in the initiatives undertaken by manufacturers to develop products with novel mechanisms is anticipated to fuel the idiopathic pulmonary fibrosis (IPF) treatment market growth. For instance, FibroGen, Inc., is currently developing a drug, pamrevlumab - a monoclonal antibody that targets the connective tissue growth factor. The phase III trials of pamrevlumab are expected to be initiated in the first half of 2019. The drug has received fast track designation from the Food and Drug Administration (FDA).

An aging population can be expected to have far-reaching social, economic, and political implications on nearly all the sectors including the healthcare sector. An associated consequence of an increase in the geriatric population will be an increase in the incidences of various medical conditions requiring long-term care. Moreover, the growing geriatric population base in countries with large untapped opportunities such as China and Japan is anticipated to drive the market growth during the forecast period.

The dramatic increase in cigarette smoking population is one of the major drivers likely to have a positive impact on IPF treatment market growth. According to the U.S. FDA and Centers for Disease Control and Prevention (CDC), in 2018, more than 3.6 million high and middle school students were existing e-cigarette users. The number increased by 1.5 million since the last year. The uptake in the use of e-cigarette is expected to lead to the incidence of IPF.

Further key findings from the study suggest:

  • MAPK Inhibitors segment held the largest market share in 2018. Esbriet is the first drug approved for the treatment of IPF

  • Tyrosine kinase inhibitor is the second largest segment and is expected to expand at a CAGR of 11.0%

  • Autotaxin inhibitors (GLPG1690) is expected to post lucrative CAGR. GLPG1690 is currently in phase III trial and is expected to be commercialized in 2022

  • U.S. led in 2018 due to high market penetration and high awareness pertaining to IPF

  • IPF treatment market in Japan is estimated to decline over the forecast period owing to patent expiry of Esbriet in 2018

  • Some of the major players operating in the idiopathic pulmonary fibrosis treatment market are F. Hoffman La-Roche Ltd; Boehringer Ingelheim International GmbH; Galapagos; FibroGen, Inc.; Prometic Life Sciences Inc.; Bristol-Myers Squibb Company; MediciNova, Inc.; Merck & Co., Inc.; Novartis AG; and Merck & Co.


Access full research report on global idiopathic pulmonary fibrosis treatment market: 

www.grandviewresearch.com/industry-analysis/idiopathic-pulmonary-fibrosis-ipf-treatment-market

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About Susan Hill Senior   Business Consultant

145 connections, 2 recommendations, 567 honor points.
Joined APSense since, September 25th, 2017, From California, United States.

Created on Mar 2nd 2020 08:16. Viewed 379 times.

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