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 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).
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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 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.
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Grand View Research has segmented the Idiopathic Pulmonary Fibrosis treatment market by drug class and region:
Idiopathic Pulmonary Fibrosis (IPF) Drug Class Outlook (Revenue, USD Million, 2014 - 2026)
• MAPK Inhibitors
o Esbriet
• Tyrosine Inhibitors
o Ofev
• Autotaxin Inhibitors
o GLPG 1690
Idiopathic Pulmonary Fibrosis (IPF) Treatment Regional Outlook (Revenue, USD Million, 2014 - 2026)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
• Asia Pacific
o China
o Japan
• Latin America
o Brazil
o Argentina
• MEA
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.