PORTLAND, Oregon., February 7, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Idiopathic Pulmonary Fibrosis Market By Drug Type (Nintedanib and Pirfenidone) and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Vendors): Global Opportunities Analysis and Industry Forecast, 2021-2030. » According to the report, the global Idiopathic Pulmonary Fibrosis industry generated $3.12 billion in 2020, and should reach $6.16 billion by 2030 growing at a CAGR of 7.0% from 2021 to 2030.
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Drivers, constraints and opportunities
Rising incidence of cancer globally, favorable reimbursement policies provided by manufacturers and insurers, and increasing smoking habits are driving the growth of the global idiopathic pulmonary fibrosis market. However, the unavailability of suitable treatment options is restraining the growth of the market. On the other hand, the increase in the number of drugs in development and the untapped potential in developing countries offer new opportunities in the years to come.
- There has been a decline in the number of visits by patients with idiopathic pulmonary fibrosis to hospitals and clinics for treatment of idiopathic pulmonary fibrosis (IPF) to avoid cross-contamination. Additionally, there has been a postponement of elective surgeries to care for Covid-infected patients.
- The Idiopathic Pulmonary Fibrosis Market has been negatively impacted by the outbreak of the Covid-19 pandemic. Demand for drugs has declined from retail pharmacies and online providers due to reduced therapy sessions and treatments.
The pirfenidone segment will continue its leading status during the forecast period
Based on drug type, pirfenidone segment accounted for the highest share in 2020, holding about three-quarters of the global idiopathic pulmonary fibrosis market, and is expected to maintain its leading status during the forecast period. . Moreover, this segment is expected to exhibit the highest CAGR of 7.2% from 2021 to 2030. This is due to the increase in adoption of pirfenidone drugs such as Esbriet and Pirespa across the globe. The research also analyzes the nintedanib segment.
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The retail pharmacy segment will maintain its leading position during the forecast period
Based on distribution channel, the retail pharmacy segment accounted for the highest share in 2020, contributing almost half of the global idiopathic pulmonary fibrosis market, and is expected to maintain its leading position during the period. forecast. This is attributed to the rapidly increasing rate of idiopathic pulmonary fibrosis among the geriatric population, technological advancements, and lifestyle changes around the world. However, the online vendor segment is expected to show the highest CAGR of 8.5% from 2021 to 2030. This is due to the offers and discounts offered by the vendors and the availability of different types of drugs in a single platform. .
North America maintain its lead in terms of turnover by 2030
Based on the region, North America contributed the highest market share in 2020, holding more than two-fifths of the global idiopathic pulmonary fibrosis market, and is expected to maintain its revenue lead by 2030. This is attributed to the high expenditure in R&D, the presence of major players and the availability of their products, and a well-established healthcare infrastructure in the region. However, Asia Pacific is expected to show the fastest CAGR of 8.9% during the forecast period, owing to improved R&D facilities and rapidly changing economic conditions.
Main market players
- Astra Zeneca Plc
- Biogene Inc.
- Boehringer Ingelheim
- F. Hoffmann-La Roche
- FibroGen, Inc.
- Therapeutic Mission
- GNI Group Ltd.
- Galapagos NV
- Bristol-Myers Squibb Company
- Shiongi Co.Ltd.
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“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your reference, considering the impact of Covid-19 on this market which will help you to assess the aftereffects of the pandemic on the short and long term growth trends of this market.”
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