Pulmonary Fibrosis Drug Market Size, Share & Industry | 2031

Report Description

Global Pulmonary Fibrosis Drug Market Outlook 2031:

The global pulmonary fibrosis drug market size was valued at USD 4.30 Billion in 2022 and is projected to reach USD 7.87 Billion by 2031, expanding at a CAGR of 6.95% during the forecast period 2023 - 2031. Pulmonary fibrosis is a lung disease in which lung tissue thickens and scars. This stiffened, thickened tissue makes it difficult for the lungs to function properly.

Many factors, including smoking, contribute to pulmonary fibrosis. Frequently, the cause is unknown, especially in cases of idiopathic pulmonary fibrosis. Some types of pulmonary fibrosis are caused by genetics passed down through families. T

he US Food and Drug Administration currently approved nintedanib and pirfenidone for pulmonary fibrosis disorders such as Idiopathic Pulmonary Fibrosis (IPF).

Get Free Sample Report

Global Pulmonary Fibrosis Drug Market Trends, Drivers, Restraints, and Opportunities:

• Increasing demand for pharmacological drugs from the pharmaceutical industry for research purposes is fueling the market.
• Growing aging population, increasing prevalence of chronic lung disease, and rising incidence of fibrotic disease are expected to drive the demand for pulmonary fibrosis drugs in the coming years.
• Smoking, dust or fumes, chemicals or hazardous materials, gastroesophageal reflux disease (GERD), and genetic factors are expected to drive th pulmonary fibrosis market. According to the CDC, an estimated 10 to 60 people per 100,000 in the US have Idiopathic Pulmonary Fibrosis (IPF). The number of people over the age of 65 who have IPF is high.
• Rigorous approval of drugs to treat pulmonary fibrosis, as well as a lack of proper disease treatment options, impede market growth.
• Introduction of advanced treatment options in the pharmaceutical industry and rising demand for cost-effective drugs are expected to create lucrative opportunities for market players during the forecast period. Increased innovation in the field of pulmonary fibrosis, as well as patient acceptance of such innovations is expected to aid market expansion. Over the forecast period, this is expected to create opportunities for the players in the pulmonary fibrosis treatment market.

Scope of the Global Pulmonary Fibrosis Drug Market report:

The report on the global pulmonary fibrosis drug market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Global Pulmonary Fibrosis Drug Market Segment Insights:

Increased adoption of Pirfenidone (Esbriet) drugs to drive the market

In terms of product types, the pulmonary fibrosis drug market is segmented into Pirfenidone (Esbriet), Nintedanib (Ofev), Generic Pirfenidone, and others.

The Pirfenidone (Esbriet) segment held a significant share of the market, due to the increased global adoption of pirfenidone drugs such as Esbriet and Pirespa. The Nintedanib (Ofev) segment is expected to expand at a significant CAGR during the forecast period, owing to increased use of Ofev and rising R&D in Nintedanib.

Get Free Sample Report

Rising prevalence of Idiopathic Pulmonary Fibrosis (IPF) to drive the market

Based on indications, the market is fragmented into Idiopathic Pulmonary Fibrosis (IPF), Familial PF, and others. The Idiopathic Pulmonary Fibrosis (IPF) segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period, owing to rising prevalence of fibrotic disease, changing lifestyle patterns, and increasing use of nicotine products.

The Familial PF segment is anticipated to grow at a considerable pace during the forecast period, due to increasing genetic disorders such as gastroesophageal reflux disease (GERD) and type 2 diabetes mellitus (DM2).

Rising geriatric population and increasing exposure to radiation to drive the market

Based on disease severity, the pulmonary fibrosis drug market is fragmented into mild, moderate, and severe. The severe segment constituted a substantial market share in 2020 and is projected to expand at a rapid rate during the forecast period, owing to rising global geriatric population.

The moderate segment is anticipated to grow at a considerable pace during the forecast period, due to rising exposure to radition and cigarette smoking.

Position of hospital pharmacies as key service providers to drive the market

Based on distribution channels, the market is segregated into hospital pharmacies, retail pharmacies, mail order pharmacies, and online providers. The hospital pharmacies segment is expected to hold a substantial share of the market during the forecast period, due to advanced medical facilities and high patient traffic.

Hospital pharmacies are the key service providers for treatment of pulmonary fibrosis. The retail pharmacies segment is expected to grow during the forecast period, owing to increasing rate of idiopathic pulmonary fibrosis in the geriatric population and lifestyle changes among people globally.

Get Free Sample Report

North America dominates the global market

In terms of regions, the global pulmonary fibrosis drug market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America held a significant share of the market, due to well-established infrastructure for research studies, availability of substantial research funds, and increasing government initiatives addressing idiopathic pulmonary fibrosis.

Moderate IPF affects 42% of patients in the US, Japan, and the five major EU markets (Germany, France, Italy, and Spain). Primary economies in Asia (Taiwan, South Korea, and Japan) have the lowest rate of IPF in the world, with prevalence ranging from 1.2 to 4.16 per 100,000 people.

Get Free Sample Report