A high number of research and development projects, increasing investments and favorable regulatory policies are other factors which are supporting the growth of the Pulmonary Fibrosis Treatment market. The majority of the population living with pulmonary fibrosis is treated with traditional corticosteroid drug combinations with limited effectiveness. With the arrival of new innovative therapies, untreated populations in middle- and low-income countries, as well as in developed countries, can offer significant income generation opportunities.
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Key points of the market research
- The global Pulmonary Fibrosis Treatment market is expected to grow at a healthy CAGR of over 6% through 2031.
- The growing emphasis on effective treatment in the United States brings strong year-on-year growth to the market in the country.
- Germany and France are expected to show increasing demand to address issues related to the growing incidence of IPF.
- Overall, the global market is expected to double over the next ten years.
- Monotherapy will represent more than 70% of the market share by 2031.
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“The increasing prevalence of idiopathic pulmonary fibrosis and the importance of early diagnosis create growth opportunities for long-term market players,” says a Persistence Market Research analyst.
Collaborations and product approval – Imperative strategy for market players
The main market players are strengthening their position in the market through collaborations with various other organizations. Leading global companies focus on research activities and approvals for increased market penetration
- Rock in March 2020, has received Breakthrough Therapy (BTD) designation from the US FDA for Esbriet (pirfenidone), for use in adults with unclassifiable interstitial lung disease (uILD).
- In June 2019, Boehringer Ingelheim has entered into a collaboration and licensing agreement with Bridge Biotherapeutics Inc. (South Korea), with the aim of accelerating the development of Bridge’s automatic tax in the BBT-877 inhibitor for the treatment of fibrosing interstitial lung diseases, including idiopathic pulmonary fibrosis, a rare lung disease.
- In October 2020, Cipla introduced the generic version of nintedanib for the treatment of idiopathic pulmonary fibrosis. In India, this medicine will be marketed under the brand name Ninitb. Nintedanib will be available in two formulations of 100 mg and 150 mg.
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What else in the report?
Persistence Market Research provides a unique perspective and actionable insights into the Pulmonary Fibrosis Treatment market in its latest study, presenting a historical assessment of demand for 2016 – 2020 and projections for 2021 – 2031, based on therapy (monotherapy , combination therapy and symptomatic treatment), indication (idiopathic pulmonary fibrosis (IPF), familial FP and others) and the distribution channel (hospital pharmacies, retail pharmacies and mail order pharmacies), in seven key regions of the world.
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