by Interstitial lung disease refers to a group of illnesses that inflame or scar the lungs. The main types of interstitial lung disease include idiopathic pulmonary fibrosis (IPF), nonspecific interstitial pneumonia, cryptogenic organizing pneumonia, etc. IPF is the most common and severe type of interstitial lung disease. Interstitial lung diseases affect the interstitium of the lungs, which is the tissue and spaces around the air sacs of the lungs. Products associated with the interstitial lung disease market include medications such as nintedanib, pirfenidone, and other supportive therapies. Medications help reduce scar tissue formation and slow disease progression by targeting pathways that are important in fibrosis.
The global interstitial lung disease market is estimated to be valued at US$ 1790.83 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing prevalence of IPF, which accounts for over 200,000 cases globally, acts as a key driver for the interstitial lung disease market. As per the European Respiratory Society, the estimated prevalence of IPF is between 6 and 9.3 cases per 100,000 people. Moreover, lack of approved treatment options and high unmet medical needs in the past further accelerated the demand for approved drugs such as nintedanib and pirfenidone. Pirfenidone and nintedanib target pathways involved in fibrosis and help reduce disease progression, thereby driving their demand. Furthermore, growing geriatric population, which is at a higher risk of developing IPF, also supports market growth. However, high cost of approved medications coupled with lack of disease awareness in developing nations may restrain the market to a certain extent.
Segment Analysis
The global Interstitial Lung Disease market is dominated by idiopathic pulmonary fibrosis segment. Idiopathic pulmonary fibrosis accounts for more than 60% of the market share as it is the most common fibrotic lung disease with limited treatment options currently available in the market.
PEST Analysis
Political: Healthcare reforms and increasing healthcare expenditure across various countries has positively impacted the market growth. However, stringent regulations for the approval of new drugs can hamper the market growth.
Economic: Rising disposable incomes, healthcare expenditure and growing ageing population especially in developed regions is fueling the market growth.
Social: Increasing prevalence of lung disorders, rising awareness about interstitial lung diseases has increased the demand for effective therapeutics in the market.
Technological: Advancements in diagnostic tests, development of new drug delivery systems and novel drug molecules are key technological aspects driving the market growth.
Key Takeaways
The Global Interstitial Lung Disease Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global interstitial lung disease market is estimated to be valued at US$ 1790.83 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.
North America dominates the market currently owing to availability of advanced healthcare facilities and increasing disease prevalence in the region. The Asia Pacific region is anticipated to witness fastest growth rate during the forecast period attributed to presence of large patient pool and rising healthcare expenditure.
Key players operating in the Interstitial Lung Disease market are MSD (Merck), Liminal Biosciences, Glenmark Pharma, J.B. Chemicals & Pharmaceuticals, Boehringer Ingelhim International GmbH, F. Hoffmann-La Roche Ltd, Inc., and Cipla. Key players are investing heavily in R&D activities to develop novel treatment options for Interstitial Lung Diseases. Merck’s Esbriet is the leading drug in the Idiopathic Pulmonary Fibrosis segment with annual sales of over US$ 1 Bn.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
