Idiopathic Pulmonary Fibrosis Market to Reach $6.16 Bn, Globally, by 2030 at 7.0% CAGR: Allied Market Research

Increase in incidences of cancer worldwide and favorable reimbursement policies provided by manufacturers & insurance providers drive the growth of the global idiopathic pulmonary fibrosis market.

PORTLAND, Ore., Feb. 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Idiopathic Pulmonary Fibrosis Market by Drug Type (Nintedanib, and Pirfenidone) and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Providers): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global idiopathic pulmonary fibrosis industry generated $3.12 billion in 2020, and is expected to reach $6.16 billion by 2030, witnessing a CAGR of 7.0% from 2021 to 2030.

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Drivers, restraints, and opportunities

Increase in incidences of cancer worldwide, favorable reimbursement policies provided by manufacturers & insurance providers, and rise in cigarette smoking drive the growth of the global idiopathic pulmonary fibrosis market. However, the unavailability of the proper treatment options restrains the market growth. On the other hand, rise in number of pipeline drugs and untapped potential in developing countries present new opportunities in the coming years.

Covid-19 Scenario

• There has been decline in the number of idiopathic pulmonary fibrosis patient visits in hospitals & clinics for idiopathic pulmonary fibrosis therapy (IPF) to avoid cross-contamination. Moreover, there has been postponement of elective surgeries to take care of Covid-infected patients.
• The idiopathic pulmonary fibrosis market was impacted negatively by the outbreak of the Covid-19 pandemic. The demand for drugs reduced from retail pharmacies and online providers due to reduced therapy sessions and treatments.

The pirfenidone segment to continue its leadership status during the forecast period

Based on drug type, the pirfenidone segment accounted for the highest share in 2020, holding around three-fourths of the global idiopathic pulmonary fibrosis market, and is expected to continue its leadership status during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030. This is due to rise in adoption of pirfenidone drugs such as Esbriet and Pirespa across the world. The research also analyzes the nintedanib segment.

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The retail pharmacies segment to continue its lead position during the forecast period

Based on distribution channel, the retail pharmacies segment accounted for the highest share in 2020, contributing to nearly half of the global idiopathic pulmonary fibrosis market, and is estimated to continue its lead position during the forecast period. This is attributed to rapid increase in rate of idiopathic pulmonary fibrosis among the geriatric population, technological advancements, and lifestyle changes worldwide. However, the online providers segment is expected to portray the largest CAGR of 8.5% from 2021 to 2030. This is due to offers and discounts offered by providers and the availability of different types of drugs under a single platform.

North America to continue its lead in terms of revenue by 2030

Based on region, North America contributed to the highest market share in 2020, holding more than two-fifths of the global idiopathic pulmonary fibrosis market, and is projected to continue its lead in terms of revenue by 2030. This is attributed to high expenditure on R&D activities, presence of major players & their product availability, and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to manifest the fastest CAGR of 8.9% during the forecast period, owing to improvement in R&D facilities and rapidly developing economic conditions.

Leading Market Players

• AstraZeneca Plc
• Biogen Inc.
• Boehringer Ingelheim
• F. Hoffmann-La Roche
• FibroGen, Inc.
• Mission Therapeutics
• GNI Group Ltd.
• Galapagos NV
• Biogen
• Bristol-Myers Squibb Company
• Shiongi Co. Ltd.

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