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 at USD 3271.3 million in 2020 and is anticipated to amass a substantial valuation by 2026.

Increasing availability of advanced treatment options, growing preference for cost-effective drugs, and rise in the incidences of fibrotic diseases are the major factors fuelling global idiopathic pulmonary fibrosis (IPF) market growth.

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For the unversed, idiopathic pulmonary fibrosis (IPF) is a serious lung disease that deteriorates lung function over time. In this state, the patient finds it extremely difficult to breathe due to scarring of the lungs. The main cause of disease is reported to be smoking cigarettes and tobacco.

Veteran analysts opine 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 underlines current and upcoming challenges that may hinder industry remuneration, while also providing solutions for the same.

Speaking of segmentation, worldwide idiopathic pulmonary fibrosis 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 trends and future estimates concerning the production volume, value, and growth is encompassed in the document.

The competitive landscape of the 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 AG and Co. KG, AbbVie Inc., Galapagos 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.