The global idiopathic pulmonary fibrosis treatment market is evaluated at US$2.744 billion for the year 2020 and is expected to grow at a CAGR of 12.29% to reach the market size of US$6.174 billion by the year 2027.
Idiopathic pulmonary fibrosis is a certain type of severe lung disease. Idiopathic pulmonary fibrosis is a lung disease in which the lung tissues are damaged by the formation of scar tissue within the lungs. The scar tissue is formed at the edges of the lungs, and they are spread to the center of the lungs. In this disease condition, normal tissues are replaced by the scar tissues formed in the lungs. The heavy and rough nature of scar tissue formed in the lungs will result in heavy and rough breathing in people. The idiopathic pulmonary fibrosis lung disease will result in the reduction of oxygen capacity of the lungs, making the disease more severe and critical. A specific cause is not at all identified in the case of idiopathic pulmonary fibrosis, but smoking cigarettes and exposure to polluted and toxic air are major factors leading to the disease. The increasing rate of the disease reported around the globe is raising the risk and criticality of the disease. The fewer treatment methods available for Idiopathic pulmonary fibrosis also increase the risk factor and fatal rate of lung disease. The increasing pollution rate and rising trend of smoking addiction are giving potential to the market growth of Idiopathic pulmonary fibrosis treatment on the global medical market. The less availability of proper medication and treatment for Idiopathic pulmonary fibrosis is also driving the market growth of global idiopathic pulmonary fibrosis treatment.
The outbreak of the COVID-19 pandemic had positively impacted the market growth in the case of global Idiopathic pulmonary fibrosis treatment. COVID pandemic has severely affected the lung capacity and lungs health of people. The impact of COVID-19 on making lung disorders and breathing problems has raised the case of Idiopathic pulmonary fibrosis and made it more severe and critical for people who are already affected. The increase in critical cases of idiopathic pulmonary fibrosis has boosted the market of Idiopathic pulmonary fibrosis in the global medical market during the COVID period. The increased awareness of people in case of lung diseases and lungs health has also given the potential for the market growth of Idiopathic pulmonary fibrosis treatment.
The rising rate of smoking and air pollution
The exact cause or reasons are not recorded in the case of Idiopathic pulmonary fibrosis lung disease. The increasing smoking habit in people is considered as one of the major reasons for the cause of Idiopathic pulmonary fibrosis. Smoking cigarettes adversely affects the natural breathing capacity and lungs health of people. The decreased lung capacity and the health of the lungs are making individuals more vulnerable to lung diseases. The reports of WHO (World Health Organisation) claim that about 15 of every 100 men are cigarette smokers, and it's approximately about 15.3%. In the case of smoking habits in women, about 13 of every 100 women are also smokers. The U.S Department of health and human services states that in America, cigarette smoking is highest among people in the age group 25 to 44 years and 45 to 64 years.
Air pollution is one of the major impacts caused as a result of industrialization. The large emissions from factories and production plants contribute to a major share of atmospheric pollution. The higher rate of carbon emission from automobiles is also leading to the rising air pollution in the atmosphere. The increasing air pollution in the atmosphere is also causing lung diseases and declining lung health of people, making them vulnerable to severe lung diseases like idiopathic pulmonary fibrosis. The increased smoking rate and air pollution are giving potential to the market growth of Idiopathic Pulmonary Fibrosis treatment.
An increasing rate of an aging population
The increasing rate of an aging population is also a significant factor driving the market growth of the pulmonary fibrosis treatment market. The aging population or people above 60 to 65 years of age are more prone to the diseases like idiopathic pulmonary fibrosis. Idiopathic pulmonary Fibrosis and lung diseases are also becoming more fatal and critical in aged people resulting in mortality. The less availability of proper medication and increasing cases of idiopathic pulmonary fibrosis is driving the market growth of the global idiopathic pulmonary fibrosis treatment market.
Asia Pacific region to hold a significant market share
Asia Pacific region is having more market growth in idiopathic pulmonary fibrosis treatment. The rising number of lung patients and people suffering from Idiopathic Pulmonary Fibrosis in the Asia Pacific region is raising the market growth of idiopathic pulmonary Fibrosis treatment in Asia. The large investments made in the medication sector are also boosting the market growth.
|Market size value in 2020||US$2.744 billion|
|Market size value in 2027||US$6.174 billion|
|Growth Rate||CAGR of 12.29% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Treatment Type, Drug Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Boehringer Ingelheim GMBH, Bristol-Myers Squibb Company, Biogen, Cipla, Hoffman-La Roche AG, Fibrogen, Inc., Galapagos NV, Medicinova, Inc., Novartis AG, Prometic Life sciences Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the idiopathic pulmonary fibrosis treatment market size by 2027?
A1. The global idiopathic pulmonary fibrosis treatment market is expected to reach a market size of US$6.174 billion by 2027.
Q2. What is the size of the global idiopathic pulmonary fibrosis treatment market?
A2. Idiopathic Pulmonary Fibrosis Treatment Market was valued at US$2.744 billion in 2020.
Q3. What are the growth prospects for the idiopathic pulmonary fibrosis treatment market?
A3. The idiopathic pulmonary fibrosis treatment market is expected to grow at a CAGR of 12.29% during the forecast period.
Q4. What factors are anticipated to drive the idiopathic pulmonary fibrosis treatment market growth?
A4. The increasing pollution rate and rising trend of smoking addiction are giving potential to the idiopathic pulmonary fibrosis treatment market growth on the global medical market.
Q5. Which region holds the largest market share in the idiopathic pulmonary fibrosis treatment market?
A5. Asia Pacific region holds a significant share in the idiopathic pulmonary fibrosis treatment market owing to the rising number of lung patients and people suffering from Idiopathic Pulmonary Fibrosis in the region.
Boehringer Ingelheim GMBH
Bristol-Myers Squibb Company
Hoffman-La Roche AG
Prometic Life sciences Inc.
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