April 23, 2024

Idiopathic Pulmonary Fibrosis Market Estimated to Witness High Growth Owing to Promising Drug Pipeline

IPF is a chronic, progressive fibrosing interstitial lung disease with unknown cause that results in scarring (fibrosis) of the lungs. The current management options for IPF provide limited benefits and only slow disease progression but do not cure the condition. As such, there is a significant need for effective therapeutic options.

The Global Idiopathic Pulmonary Fibrosis Market is estimated to be valued at US$ 4,825.57 Billion in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the idiopathic pulmonary fibrosis are VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd., AbbVie Inc. (Allergan PLC), Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., and Sun Pharmaceutical Industries Ltd., among others.

The key opportunities in the Idiopathic Pulmonary Fibrosis Market Size include availability of promising drug candidates in pipeline targeting both cause and symptoms of IPF. Several companies are evaluating molecules targeting key pathways involved in fibrosis development. Additionally, combination therapies are also being evaluated to improve therapeutic outcomes.

Technological advancements such as biomarkers for disease diagnosis, progression and treatment response are likely to enhance the diagnostic capability and help develop effective management approaches. Development of non-invasive diagnostic tests is a key focus area to improve patient care.

Market drivers
A robust drug pipeline with promising candidates currently in clinical trials is a key growth driver for the idiopathic pulmonary fibrosis market. If approved, these pipeline drugs are expected to provide efficacious treatment options compared to existing therapeutic regimens. For instance, pamrevlumab, nintedanib and pirfenidone etc. are some of the promising candidates which specifically target pathways involved in IPF pathology offering hope for better patient outcomes. Hence, availability of effective therapeutic options is anticipated to significantly drive the idiopathic pulmonary fibrosis market during the forecast period.


Current challenges in Idiopathic Pulmonary Fibrosis Market:

The Idiopathic Pulmonary Fibrosis market faces several challenges currently. Diagnosis of IPF is quite challenging due to nonspecific symptoms and lack of definitive tests. Lung biopsies are typically required but are invasive procedures. Finding the correct treatment options is also difficult as currently available therapies can only slow disease progression and not provide a cure. Managing side effects of existing drug therapies is another issue as they can cause severe liver damage in some cases. The quality of life of patients deteriorates rapidly as breathing difficulties worsen. Advancing disease leads to shortness of breath even with minimal physical exertion. The cause of IPF still remains unknown in many cases making it challenging to find effective preventive measures.

SWOT Analysis
Strength: Existing drug therapies can slow disease progression thereby improving life expectancy to some extent. Growing research & development activities are leading to newer treatment options getting approved.
Weakness: IPF has no known causes or cures currently. Existing drugs have limited efficacy and serious side effect risks. Optimal treatment strategies are still evolving.
Opportunity: Rising IPF prevalence globally increases awareness and funding for research. New molecular targets & innovative therapies in clinical trials provide hope for improved outcomes.
Threats: High treatment costs pose affordability challenges. Failure of drug candidates in late stages clinical trials affects overall market growth prospects.

The United States accounts for the largest share of the idiopathic pulmonary fibrosis market currently in terms of value due to high diagnosis & treatment rates. This is attributable to developed healthcare infrastructure, rising incidence rates as more people survive other lung diseases, and widespread health insurance coverage in the country compared to other regions. The Asia Pacific region is anticipated to register the fastest growth over the forecast period driven by expanding healthcare access, growing patient affordability, and improving research collaborations in major markets like China and India.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it