Pulmonary Fibrosis Drugs Market Size, Share, Forecast, 2020-2028

(MENAFN- America News Hour) Research Nester released a report titled“pulmonary fibrosis drugs market : Global Demand Analysis & Opportunity Outlook 2028′′which delivers detailed overview of the global pulmonary fibrosis drugs market in terms of market segmentation by drug and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.

As per the Pulmonary Fibrosis Foundation, the disease affects about 1 out of 200 adults above the age of 70 years in the United States. Moreover, around 50,000 new cases of pulmonary fibrosis are diagnosed in the country every year.

The pulmonary fibrosis drugs market is anticipated to record a significantly high CAGR over the forecast period, i.e., 2020-2028. Pulmonary fibrosis is a disease of the lungs in which the pulmonary tissue gets damaged, resulting in an obstructed passage of air into them. This impairs the normal functioning of the lungs. The market is segmented by drug and by region, out of which, the drug segment is further bifurcated into pirfenidone and nintedanib. The segment for pirfenidone is anticipated to hold the largest share in the pulmonary fibrosis drugs market on account of increased usage of the drug ever since it received approval by the Food and Drug Administration (FDA).

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Based on region, the pulmonary fibrosis drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is estimated to hold the leading share in the market as a result of growing research and developments in the area as well as presence of key players in the market in this region. Pulmonary fibrosis drugs market is predicted to grow at the highest rate in the Asia Pacific region on account of growing presence of leading companies involved in research and development activities for the manufacturing of effective drugs.

Increasing Smoking Population to Result in Higher Demand for Pulmonary Fibrosis Drugs

According to Centers for Disease Prevention and Control, around 13.7% of all adults, i.e., 34.2 million people were reported to smoke cigarettes in the United States in 2018, out of which, 15.6% were men and 12.0% were women. The rising cases of smoking, which is one of the risk factors of pulmonary fibrosis, is predicted to result in a significant market growth. However, the limited number of drugs approved by regulatory bodies is estimated to hinder the market growth over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global pulmonary fibrosis drugs market which includes company profiling of Boehringer Ingelheim GmbH, F. Hoffmann-La Roche Ltd. (SWX: RO), FibroGen, Inc. (NASDAQ: FGEN), Merck & Co. Inc. (NYSE: MRK), Bristol-Myers Squibb Company (NYSE: BMY), MediciNova, Inc. (NASDAQ: MNOV), Genentech, Inc., Cipla Inc. (NSE: CIPLA), Biogen (NASDAQ: BIIB) and Galapagos NV (AMS: GLPG).

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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pulmonary fibrosis drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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