Idiopathic pulmonary fibrosis (IPF) is a chronic lung disease distinguished by progressive and irreversible reduction in lung function characterized by thickening and damaging of the walls of the air sacs (called alveoli). Major factors causing damage to the lungs include, acid reflux from stomach, certain viruses such as Epstein Barr virus and herpes virus or environmental factors such as breathing in dust such as silica dust, asbestos fibers, hard metal dust, and coal dust. Treatments for idiopathic pulmonary fibrosis (IPF) include, oxygen therapy, pulmonary rehabilitation, symptom management, and lung transplant. Prescribed antifibrotic drugs include, Pirfenidone and Nintedanib.
Get a Request Sample of Research Report @ https://www.coherentmarketinsights.com/insight/request-pdf/2466
The idiopathic pulmonary fibrosis treatment market size is expected to witness significant growth, owing to increasing geriatric population. According to National Institute of Health’s (NIH), 2015 report, the symptoms of IPF starts occurring at the age of 50 to 70 in the U.S. Moreover, increasing prevalence of idiopathic pulmonary fibrosis is also expected to boost the market growth. According to NIH 2015 estimates, the prevalence of idiopathic pulmonary fibrosis is 13-20 per 100,000 people worldwide.
Smoking is believed to be another cause of idiopathic pulmonary fibrosis. According to the Centers for Disease Control and Prevention (CDC), around 1 billion smokers were recorded worldwide in 2017. The global idiopathic pulmonary fibrosis treatment market revenue is expected to witness significant growth, owing to availability of antifibrotic drugs IPF such as Pirfenidone (Esbriet) and Nintedanib (Ofev). According to annual reports of F. Hoffmann-La Roche AG, worldwide sales of Esbriet in 2016 was US$ 753 million.
Lack of awareness and availability of proper treatment is expected to hinder the idiopathic pulmonary fibrosis market growth. According to National Center for Biotechnology Information (NCBI) 2017 report, 54% patients do not receive any antifibrotic treatment in Europe.
Moreover, misdiagnosis of IPF is also expected to hinder the idiopathic pulmonary fibrosis treatment market size. For instance, according to Multidisciplinary Respiratory Medicines (MRM), in 2012, around 50% of IPF cases were misdiagnosed for other lung diseases in the U.S. High cost associated with the treatment of idiopathic pulmonary fibrosis is also expected to hinder the market growth. For instance, as per the data published in American Journal of Managed Care (AJMC) in 2014, idiopathic pulmonary fibrosis treatment requires US$ 100,000 annually, in the U.S.
According to NIH, 2015, around 100,000 people suffer from IPF and 30,000 to 40,000 new patients are diagnosed with the disease, annually in the U.S. Moreover, increasing approval of new drugs is also expected to boost the idiopathic pulmonary fibrosis treatment market growth in the region. For instance, in 2015, Prometic Life Sciences Inc. received the first orphan drug approval for PBI- 4050 from the U.S. Food and Drug Administration (FDA). Similarly, in 2017, Plasminogen (Ryplazim) was approved as an orphan drug by the U.S. FDA.
For More Information On This Report, Please Visit @ https://www.coherentmarketinsights.com/ongoing-insight/idiopathic-pulmonary-fibrosis-treatment-market-2466
Major players operating in the global idiopathic pulmonary fibrosis treatment market include, Biogen, Boehringer Ingelheim, Bristol-Myers Squibb Company, Cipla, F. Hoffmann-La Roche, FibroGen, Inc., Galapagos NV, MediciNova, Inc., Merck & Co., Inc., Promedior, Inc., and Prometic Life Sciences Inc.