Idiopathic Pulmonary Fibrosis Treatment Market (By Drug Class: Tyrosine Inhibitors, MAPK Inhibitors, Autotaxin Inhibitors; By End User: Hospitals, Long-term Care Facilities, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026
The global idiopathic pulmonary fibrosis treatment Market is expected to reach over 4.2 USD billion by 2026 and growing at CAGR 11.6% during the forecast period 2019-2026.
During last few years, there is a significant increase in the number of respiratory related diseases. Increasing prevalence of the various respiratory diseases, rising geriatric population across the globe, and increasing awareness about health have driven the growth of the idiopathic pulmonary fibrosis treatment market. According to the World Population Aging Report, in 2015, the number of elderly people aged 60 years and above is expected to grow by 56%, from 901 million in 2015 to 1.4 billion in 2030. Moreover, rising population, changing lifestyle, adoption of the smoking by the youth benefits the growth of idiopathic pulmonary fibrosis treatment market. On the other hand, limited penetration of the idiopathic pulmonary fibrosis treatment in developing countries in Asia and Africa, high prices of the drugs may slow the growth of the idiopathic pulmonary fibrosis treatment market.
The market research study on “Idiopathic Pulmonary Fibrosis Treatment Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Idiopathic pulmonary fibrosis treatment market. The report also analyzes the key players operating in Idiopathic pulmonary fibrosis treatment market and identifies the key strategies deployed by them along with the market share of leading players.
The factors driving the global market are rising prevalence of respiratory diseases, increasing demand for the idiopathic pulmonary fibrosis treatment, huge population pool in developing countries and technological advancements.
The global Idiopathic pulmonary fibrosis treatment market is segmented as below:
Idiopathic pulmonary fibrosis treatment Market By Drug Class
- Tyrosine Inhibitors
- MAPK Inhibitors
- Autotaxin Inhibitors
Idiopathic pulmonary fibrosis treatment Market By End User
- Hospitals
- Long-term Care Facilities
- Others
Idiopathic pulmonary fibrosis treatment Market By Geography
- North America
- US
- Canada
- Mexico
- Europe
- UK
- France
- Sweden
- Norway
- Denmark
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Singapore
- India
- Rest of Asia-Pacific
- Rest of the World
- UAE
- Qatar
- Saudi Arabia
- South Africa
- Rest of the World
The global idiopathic pulmonary fibrosis treatment market is segmented by drug class, and end users.
On the basis of drug class, the market is segmented into tyrosine inhibitors, MAPK inhibitors, and autotaxin inhibitors.
Based on end users market is segmented into hospitals, long-term care facilities, and others.
Geographically, idiopathic pulmonary fibrosis treatment market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
North America is likely to account for the largest share of the idiopathic pulmonary fibrosis treatment market in the forecast period 2019–2026. This is attributing to increasing awareness about the availability of treatment, huge population suffering from the respiratory diseases and presence of huge geriatric population. According to the World Health Organization, in 2017, over 50% U.S. population were suffering from major or miner respiratory related diseases. Increasing R&D activities, availability of huge funds granted by government, and high spending of the people have supported the growth of the idiopathic pulmonary fibrosis treatment market. U.S. holds the major share in the North America idiopathic pulmonary fibrosis treatment market owing to the huge patient pool whereas, Canada is expected to be the prominent growing region due to the presence of huge geriatric population.
Europe accounts for the second leading position in the market for the idiopathic pulmonary fibrosis treatment. The growth of the market is majorly attributed due to the rising the incidence acute and respiratory diseases, increasing provenance of the cardiovascular diseases, rising diabetic population, and availability of the funds for the research and development. Furthermore availability of skilled personnel, low development costs, growing health care sector, are the factors driving the growth of the market in the forecast period. Germany is expected to dominate the major share in the global idiopathic pulmonary fibrosis treatment market owing to the presence of the well developed economy, huge patient population, well developed healthcare technology and huge spending on the healthcare.
Asia Pacific is expected to be the fastest growing region owing to the huge population and presence of rapidly growing economies. The Asia Pacific idiopathic pulmonary fibrosis treatment market is majorly driven by presence of rapidly growing economy, huge patient pool, changing lifestyle and continually increasing healthcare expenditure. According to the WHO, over 60% of cardiovascular patient of the globe are present in the Asia region. Continuously increasing prevalence of the cardiovascular diseases have supported the growth of the idiopathic pulmonary fibrosis treatment market. India and China are expected to hold the major share in the market owing to the presence of huge geriatric population, changing lifestyle of the people in this country, and continuously increasing healthcare spending of the people. During last few years, government of these countries are supporting the manufacturer and new startups which has created a new opportunity for the idiopathic pulmonary fibrosis treatment market growth..
On the other hand LAMEA is expected to witness a considerable growth in the market during the forecast period. The significant growth in the regional market is attributed due to increasing prevalence of respiratory diseases. Increasing urbanization, high disposable income in the Middle East countries such as UAE, Saudi Arabia, Kuwait, and improving healthcare infrastructure, are projected to drive the growth to the idiopathic pulmonary fibrosis treatment market. Africa region is expected to have a sound growth for the market owing to the presence of huge untapped opportunity in the market and increasing number of patient pool.
Some of the key players in the global idiopathic pulmonary fibrosis treatment market include F. Hoffman La-Roche Ltd, FibroGen, Inc., Bristol-Myers Squibb Company, Prometic Life Sciences Inc., Novartis AG, Boehringer Ingelheim International GmbH, Galapagos, Merck & Co., Inc., and MediciNova, Inc.
Frequently Asked Questions
Which factor curbs the growth of idiopathic pulmonary fibrosis treatment market?
Factors such as increasing prevalence of the various respiratory diseases, rising geriatric population across the globe, and increasing awareness about health restrain the idiopathic pulmonary fibrosis treatment market growth.
What is the market value of idiopathic pulmonary fibrosis treatment?
As per research study by Acumen Research and Consulting, the idiopathic pulmonary fibrosis treatment market value is anticipated to be worth around US$ 4.2 billion in 2026.
At what CAGR is the idiopathic pulmonary fibrosis treatment market projected to grow during 2019 to 2026?
The idiopathic pulmonary fibrosis treatment market is anticipated to grow over 11.6% CAGR during the forecast period 2019 to 2026.
Which region held the maximum share for the idiopathic pulmonary fibrosis treatment market?
North America held maximum share in 2018 for idiopathic pulmonary fibrosis treatment market.
Which region is projected to grow at a fastest rate for the idiopathic pulmonary fibrosis treatment market during the forecast period?
Asia Pacific is projected to grow at a fast pace during forecast period in the idiopathic pulmonary fibrosis treatment market.
Which are the top key players operating in the idiopathic pulmonary fibrosis treatment market?
F. Hoffman La-Roche Ltd, FibroGen, Inc., Bristol-Myers Squibb Company, Prometic Life Sciences Inc., and Novartis AG are the top players operating in the idiopathic pulmonary fibrosis treatment market.
Which are the end users of idiopathic pulmonary fibrosis treatment market?
Based on end users market is segmented into hospitals, long-term care facilities, and others.
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