Idiopathic Pulmonary Fibrosis Management Market is expected to register a CAGR of 1.5% in the forecast period 2023 to 2033 | FMI
During the forecast period 2023 to 2033, the Idiopathic Pulmonary Fibrosis Management Market is expected to grow at a value of 1.5% CAGR, according to Future Market Insights. By the year 2033, the global market for Idiopathic pulmonary fibrosis management is expected to rise up to a market valuation of US$ 3649.90 Million. The growth of the market can be attributed to rising cases of idiopathic pulmonary fibrosis among middle-aged men.
Several diagnostic methods exist for identifying IPF, and guidelines for diagnosis have been established. Tests such as pulmonary function tests are used to evaluate restrictive lung disease, which is indicated by decreased lung volume (specifically, reduced forced vital capacity, total lung capacity, and functional residual capacity) and decreased diffusion capacity.
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Furthermore, North America and Europe are two major regions contributing to the growth of the Idiopathic pulmonary fibrosis management market. This is owing to the high prevalence of the ailment in regions such as the Unites States of America and Germany. In addition, availability of various drugs along with innovative medication is shaping the landscape for the Idiopathic pulmonary fibrosis management market.
Pulmonary Fibrosis Therapy is a progressive lung disease that causes scarring and thickening of the lung tissue, leading to shortness of breath, coughing, and difficulty breathing. There is no known cure for IPF, but treatment can help slow down its progression and improve the patient’s quality of life.
Key Takeaways from the Market Study
- Idiopathic pulmonary fibrosis management market is expected to grow at a value of 1.5% CAGR in the forecast period 2023 to 2033.
- By distribution channel, retail pharmacies are expected to possess 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
- North America is expected to possess 45% market share for Idiopathic pulmonary fibrosis management market in 2023.
- Europe is expected to hold 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
“The presence of a wide range of drugs, as well as new and innovative medications, is influencing the market for managing Idiopathic pulmonary fibrosis.” states an FMI analyst
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- Johnson & Johnson Services, Inc’s most recent research includes the development of a drug called losmapimod, which is an oral p38 MAPK inhibitor. The drug is currently under clinical trials.
- AstraZeneca’s most recent research includes the development of a drug called MEDI3039, which is a monoclonal antibody that targets the protein connective tissue growth factor (CTGF) and is in the phase 1b/2a clinical trial stage.
Key Companies Profiled:
- Boehringer Ingelheim GMBH
- Novartis AG
- Medicinova Inc
- Bristol Myers Squibb Company
- Galapagos NV
- Hoffmann-La Roche AG
- Neopharm Group
- Galecto Biotech
- Pfizer Inc
- Johnson & Johnson Services, Inc
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Key Segments Profiled in the Idiopathic Pulmonary Fibrosis Management Industry Survey
- Interferon Gammato1b
- Oxygen Therapy
- Lung Transplant
Route of Administration:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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