As per the market assessment report titled ‘Global Idiopathic Pulmonary Fibrosis (IPF) Market - Analysis By Drug Type, End User, By Region, By Country (2021 Edition): Market Insights, Pipeline and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global idiopathic pulmonary fibrosis market was valued USD 3,271.3 million in 2020 and is anticipated to amass a substantial valuation by 2026.

Rising penetration of advanced treatment options, growing inclination towards cost-effective drugs, and increasing prevalence of fibrotic diseases are the major factors boosting global idiopathic pulmonary fibrosis (IPF) market development.

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For the uninitiated, idiopathic pulmonary fibrosis (IPF) is a progressively worsening lung ailment. In this condition, when one breathes in, oxygen passes through tiny air sacs in the lungs and into the bloodstream. It causes scar tissues to develop inside the lungs, making it hard to breathe.

Experts cite that growing inclination towards Pirfenidone (Esbriet) and Nintedanib (Ofev) as opposed to other off-label pharmaceutical therapies and cheap corticosteroids is likely to enhance industry outlook in the upcoming years. Increasing health consciousness among the masses is another key factor that can broaden the horizon of the market.

Apart from this, the study highlights current and upcoming challenges, while also providing precise countermeasures for the same.

Speaking of segmentation, the industry is fragmented in terms of drug type (pirfenidone, nintedanib), end user (academics & research organizations, hospitals & clinics), and region (North America, Europe, Asia Pacific). A detailed analysis of each sub-market with respect to historical and future estimates concerning the production volume, value, and growth is encompassed in the document.

The competitive landscape of the worldwide idiopathic pulmonary fibrosis industry is majorly influenced by players such as Medicinova Inc., Cipla Ltd, Fibrogen Inc., Merck KGaA, Gilead Sciences, Inc., Bristol-Myers-Squibb, C.H.Boehringer  Ingelheim Sohn KG and Co KG, AbbVie Inc., Galapogos N.V. Liminal BioSciences Inc., and F.Hoffman La Roche AG. These companies are focusing on new drug development, partnerships, and acquisitions to elevate their position in the marketplace.