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North America leads ITP therapeutics, with Japan, Europe; Orphan Drug Act and combo therapy boost, India steadily rises.
NEWARK, DELAWARE, UNITED STATES OF AMERICA, September 25, 2023 /EINPresswire/ -- During the forecast period of 2023 to 2033, the global idiopathic pulmonary fibrosis management market is anticipated to grow at a CAGR of 1.5% from a market value of US$ 3145 million in 2023 to US$ 3649.90 million. The rising prevalence of the condition in men around the world is responsible for the expansion of the idiopathic pulmonary fibrosis management market. From 2018 to 2022, the market for treating idiopathic pulmonary fibrosis grew at a CAGR of 1%.
Several diagnostic methods exist for identifying IPF, and guidelines for diagnosis have been established. Tests such as pulmonary function tests are used to evaluate restrictive lung disease, which is indicated by decreased lung volume (specifically, reduced forced vital capacity, total lung capacity, and functional residual capacity) and decreased diffusion capacity.
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Furthermore, North America and Europe are two major regions contributing to the growth of the Idiopathic pulmonary fibrosis management market. This is owing to the high prevalence of the ailment in regions such as the Unites States of America and Germany. In addition, availability of various drugs along with innovative medication is shaping the landscape for the Idiopathic pulmonary fibrosis management market.
Key Takeaways from the Market Study:
Idiopathic pulmonary fibrosis management market is expected to grow at a value of 1.5% CAGR in the forecast period 2023 to 2033.
By distribution channel, retail pharmacies are expected to possess 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
North America is expected to possess 45% market share for Idiopathic pulmonary fibrosis management market in 2023.
Europe is expected to hold 40% market share for Idiopathic pulmonary fibrosis management market in 2023.
“The presence of a wide range of drugs, as well as new and innovative medications, is influencing the market for managing Idiopathic pulmonary fibrosis.” states an FMI analyst
Competitive Landscape:
Key players in the idiopathic pulmonary fibrosis management market are
Boehringer Ingelheim GMBH
Biogen
Novartis AG
Medicinova Inc
Bristol Myers Squibb Company
Galapagos NV
Hoffmann-La Roche AG
Neopharm Group
Galecto Biotech
Pfizer Inc
Johnson & Johnson Services, Inc most recent research includes the development of a drug called losmapimod, which is an oral p38 MAPK inhibitor. The drug is currently under clinical trials.
AstraZeneca most recent research includes the development of a drug called MEDI3039, which is a monoclonal antibody that targets the protein connective tissue growth factor (CTGF) and is in the phase 1b/2a clinical trial stage.
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Key Segments Profiled in the Idiopathic Pulmonary Fibrosis Management Industry Survey:
Drug Class:
Pirfenidone
Nintedanib
Interferon Gammato1b
Others
Treatment:
Oxygen Therapy
Lung Transplant
Others
Route of Administration:
Oral
Injectable
Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Ankush Nikam
Future Market Insights, Inc.
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