Friday, 9 February 2018

Idiopathic Pulmonary Fibrosis Therapeutic Market Key Trends and Opportunity Analysis 2024

A rare lung disease often terminal, idiopathic pulmonary fibrosis (IPF) is an interstitial lung disease affecting the lung interstitium. Patients diagnosed with IPF suffer an extreme lung deterioration resulting a decline in the lung functioning. IPF causes 'pulmonary fibrosis', which basically means damaging of the lung tissues. Breathing distress is the most common intricacy involved with idiopathic pulmonary fibrosis.
The cause of idiopathic pulmonary fibrosis still remains unknown, however, it is mostly linked with excessive inhalation of smoke or dust, exposure to unhealthy gases and chemicals and smoking of cigarettes. IPF may also be caused due to genetic predisposition or develop from other lung condition.
Some of the medical conditions, which may develop in a patient with idiopathic pulmonary fibrosis (IPF) include obstructive sleep apnea, chronic obstructive pulmonary disease, coronary artery disease and gastro oesophagal reflux disease. A set of guidelines has been released for managing such conditions accordingly.
In the recent years, higher incidence of idiopathic pulmonary fibrosis has been noticed, which has fueled the demand for idiopathic pulmonary fibrosis therapeutics. The introduction of novel medicines and advancement in treatment methods of the disease has further supplemented the overall growth of the market. Nintedanib and Pirfenidone are the two most common anti-fibrotic drugs used for the treatment of idiopathic pulmonary fibrosis.
There is no absolute cure for idiopathic pulmonary fibrosis available as yet. A large portion of the treatment is directed to provide temporary relieve to the patients. Failure to provide a complete cure and limited treatment options are considered as major setbacks of the market. Limited drug options with low efficiency are further hindering the growth of the global idiopathic pulmonary fibrosis market.
Greater focus on effective drug treatment of idiopathic pulmonary fibrosis has led to the development of few quality drugs such as Vargatef and Ofev. These drugs effectively reduce the patient’s discomfort and ease the functioning of the lung. In addition, increasing R&D programs for development of new therapies to successfully treat IPF in expected to favor the market in the near future. For instance, recently two major pharmaceuticals companies Inventiva SAS and Boehringer Ingelheim GmbH have decided to jointly work on developing potential new treatments for IPF.
On the basis of region, the global idiopathic pulmonary fibrosis therapeutics market has been segmented into six key regions namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (APAC), and the Middle East & Africa. Europe and North America are considered as the two largest market of idiopathic pulmonary fibrosis therapeutics. In addition, the presence of major pharmaceutical companies in these two regions has positively impacted the growth of the market. Countries such as the US, Canada, Germany, France and Britain have accounted for a healthy demand of idiopathic pulmonary fibrosis therapeutics attributed to the increasing number of IPF incidence occurring in these countries. The global IPF therapeutics market is expected to register a healthy growth in the upcoming years.
Few of Key players in the global idiopathic pulmonary fibrosis therapeutic market include AdAlta Pty Ltd., Biogen, Inc., Angion Biomedica Corp., Chong Kun Dang Pharmaceutical Corp., FibroGen, Inc. Progenra, Inc, Boehringer Ingelheim GmbH and Vectura Group plc. Most companies the focusing on further product development and offer a wider range of IPF therapeutic treatments.
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