North America led the market, accounting for the largest share, and this trend is expected to continue during the projection period. The

Hyderabad, India -- (SBWire) -- 02/23/2023 --Idiopathic Pulmonary Fibrosis Market
Overview:
Idiopathic pulmonary fibrosis is a chronic lung illness in which the tissues of the lungs thicken and stiffen with time. As a result of lung tissue thickening, the brain and other organs are unable to obtain adequate oxygen. This disorder causes scar tissue (fibrosis) to form in the lungs, preventing the lungs from adequately transporting oxygen into the circulation. People between the ages of 50 and 70 are most commonly affected by the condition. Idiopathic pulmonary fibrosis is one of several illnesses known as interstitial lung diseases (commonly known as ILD), which are lung diseases characterized by inflammation or scarring in the lung.

Market Size and Future Apprehension:
According to the most recent USD Analytics analysis, the worldwide Idiopathic Pulmonary Fibrosis Market is expected at a CAGR of 4.01% over the forecast period 2023-2030.

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Market Dynamics:

Drivers:
Idiopathic pulmonary fibrosis is predicted to develop significantly during the forecast period, owing to increased demand for appropriate medications for treatment of idiopathic pulmonary fibrosis and attractive reimbursement policies given by manufacturers and insurance providers in some countries. The main drivers driving the market expansion include an increase in the prevalence of fibrotic illness, an increase in the elderly population, and technological breakthroughs in cancer screeing and detection.
Furthermore, an increase in demand for low-cost pharmaceuticals and the launch of improved treatment alternatives drive market expansion.

Restraints:
However, the lack of appropriate illness treatment alternatives limits market expansion.

Covid-19 Impact on Idiopathic Pulmonary Fibrosis Market:

The overall impact of COVID-19 on the idiopathic pulmonary fibrosis market remains negative, owing to a decrease in the number of idiopathic pulmonary fibrosis patient visits in hospitals and clinics for idiopathic pulmonary fibrosis therapy (IPF), as these patients are more vulnerable to COVID-19 infection, resulting in a decrease in demand for idiopathic pulmonary fibrosis products. Furthermore, most markets are seeing a downturn, particularly in the idiopathic pulmonary fibrosis market, as a result of the COVID-19 epidemic.

Segmentation Analysis:
The global Idiopathic Pulmonary Fibrosis market segmented based on treatment, end user, region

By Treatment:
- Drugs
- Nintedanib
- Pirfenidone
- Oxygen Therapy
- Pulmonary rehabilitation
- Lung transplant

By End-User:
- Hospitals
- ASCs
- Clinics
- Others

By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa

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Competitive Landscape:
With business mergers, acquisitions, and new medication approvals for therapy, the worldwide Idiopathic Pulmonary Fibrosis (IPF) market is relatively competitive. Some of the top companies in this sector are

- Galapagos nv.
- Boehringer Ingelheim GmbH
- FIBROGEN, INC
- Medicinova, Inc
- Liminal BioSciences
- F.Hoffmann-la Roche Ltd
- Bristol Myers Squibb Company
- Theravance biopharma Mylan inc

Recent Developments:

In 2022 - Boehringer Ingelheim disclosed Phase II results for BI 1015550, a novel test phosphodiesterase 4B (PDE4B) inhibitor, in the New England Journal of Medicine on May 15th, 2022. The encouraging 12-week findings demonstrating a decline in lung function in individuals with idiopathic pulmonary fibrosis (IPF) were presented on May 16 at the American thoracic society (ATS) international conference breaking news session in San Francisco.

In 2022 - Sandoz, a global leader in generic and biosimilar pharmaceuticals, announced the US launch of generic paraphenidone, idiopathic pulmonary fibrosis (IPF), the counterpart of Genetek's Esbriet on May 12th, 2022. Prescription Oral Medicine is easily accessible to patients via an unique pharmacy, with a $ 0 co-pay scheme for qualified individuals.

Regional Analysis:

North America led the market, accounting for the largest share, and this trend is expected to continue during the projection period. The research activities for idiopathic pulmonary fibrosis are soaring in North America, owing to significant infrastructure for developmental research, the availability of substantial research funds, and the rise in government initiatives for idiopathic pulmonary fibrosis, which are expected to drive market growth.