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Idiopathic Pulmonary Fibrosis (IPF) Treatment Market 2021 Analysis Trend, Applications, Industry Chain Structure, Growth, and Forecast to 2030 | Says Kenneth Research

In a recent published report, Kenneth Research has updated the market report for Idiopathic Pulmonary Fibrosis (IPF) Treatment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.  

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Idiopathic Pulmonary Fibrosis (IPF) Treatment Market products. 

The Global IPF Treatment Market is expected to register a CAGR of 12.3% during the forecast period of 2019 to 2025 with a market value of USD 2237 million in 2018.IPF is a lung disease which causes the tissue in your lungs to become stiff. The global IPF treatment market is driven by factors such as increasing cases of IPF and growing demand for minimally invasive procedures to diagnose and treat different chronic diseases. Additionally, rising prevalence rates of lung diseases coupled with increasing geriatric population is anticipated to fuel the market growth. For instance, according to the Office for National Statistics in 2017, approximately 18% and 2.4% of the total UK population was aged over 65 years and 85 years, respectively. On the other hand, the high cost of surgery is projected to hamper the growth of the market during the assessment period.

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Moreover, major companies in the market are involved in strategic acquisitions, collaborations, and mergers to sustain their position in the market. For instance, in April 2018, Bristol-Myers Squibb Company and the Harvard Fibrosis Network of the Harvard Stem Cell Institute entered into a research collaboration to discover and develop potential new therapies for fibrotic diseases.

Segmentation

The global IPF treatment market has been segmented based on treatment and region.The market, based on treatment, has been bifurcated into drug class, oxygen therapy, lung transplant, and others. The drug class segment is expected to hold a major share in the market due to the wider preferability and increasing adoption of the drugs for the treatment of IPF. The oxygen therapy segment is anticipated to be the fastest growing due to the rising inclination of medical professionals towards this therapy for the treatment of IPF.

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The IPF treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European IPF treatment market has been sub-divided into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The IPF treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The IPF treatment market in the Middle East & Africa has been divided into the Middle East and Africa.

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Key Players

Biogen

Boehringer Ingelheim GMBH

Bristol-Myers Squibb Company

Cipla

Hoffmann-La Roche AG

Fibrogen, Inc.

Galapagos NV

Medicinova, Inc.

Merck & Co., Inc.

Novartis AG

Prometic Life Sciences Inc.

Regional Market Summary

Source: World Health Organization (WHO)

The market in the Americas is expected to dominate the global IPF treatment market due to the increasing per capita healthcare expenditure and the high adoption of new technology in the region. High cases of pulmonary and cystic fibrosis in the US and Canada is expected to drive the market growth. Furthermore, increasing expenses in research by healthcare bodies is expected to fuel the growth of the market in this region.

The market in Europe showed a considerable amount of growth. This can be attributed to the presence of a well-established healthcare system, an increase in chronic diseases, and the involvement of key companies. For instance, in May 2019, AstraZeneca, a UK based company entered into a long-term collaboration with BenevolentAI to use artificial intelligence for the discovery and development of new treatment for IPF and Chronic Kidney Disease (CKD). Therefore, the market is expected to grow during the forecast period.

The market in Asia-Pacific is projected to have a steady growth rate during the forecast period owing to the increasing pool of patient population and increasing government initiatives for healthcare reforms.The market in the Middle East & Africa is projected to account for the least share of the global market due to low disposable income in the region.

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Global IPF Treatment Market, by Treatment

Drug Class

MAPK Inhibitors

Tyrosine Kinase Inhibitors

Autotaxin Inhibitors

Others

Oxygen Therapy

Lung Transplant

Others

Global IPF Treatment Market, by Region

Americas

North America

US

Canada

Latin America

Europe

Western Europe

Germany

France

Italy

Spain

UK

Rest of Western Europe

Eastern Europe

Asia-Pacific

Japan

China

India

Australia

South Korea

Rest of Asia-Pacific

Middle East & Africa

Middle East

Africa

Intended Audience

Research and development (r&d) companies

Medical device companies

Government research institutes

Academic institutes and universities

Venture capitalists

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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