Pulmonary fibrosis is a chronic respiratory disease characterized by progressive scarring of lung tissue, leading to difficulty in breathing and decreased lung function. The increasing prevalence of pulmonary fibrosis, the growing number of patients with lung diseases, and the increasing investment in the development of new and effective treatments are driving the growth of the Pulmonary Fibrosis market.
The global Pulmonary Fibrosis Market size was valued at USD 7.3 billion in 2020 and is expected to reach USD 13.5 billion by 2028, growing at a CAGR of 7.5% from 2021 to 2028. The increasing incidence of respiratory diseases, the growing geriatric population, and the growing demand for effective treatments for pulmonary fibrosis are the key factors driving the growth of the market.
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Market Dynamics:
According to the latest market research report by Reports and Data, the global pharma healthcare market is estimated to reach a market size of USD XX billion in 2028 from USD XX billion in 2020, registering a XX% CAGR during the forecast period. Steady revenue growth of the global pharma healthcare market is primarily driven by factors such as rising prevalence of chronic and acute diseases across the globe, rise in global geriatric population, growing awareness of health wellness among the population, and growing need for advanced healthcare services. Other key factors providing impetus to the global market revenue growth are increasing availability of next-generation diagnostic solutions and treatment options – especially in developing countries around the world – growing demand for advanced drugs and therapeutics, rise in research development activities in the pharmaceutical and biotechnology industries, increasing public and private investments in the healthcare sector, and rising healthcare expenditure of consumers.
Market revenue growth is further driven by factors such as rising cases of COVID-19 worldwide, rapidly rising hospital admission rates, growing demand for rapid COVID-19 diagnostic test kits, increased government spending on COVID-19 vaccine development, increasing adoption of telehealth and telemedicine worldwide, and growing need for remote patient monitoring for geriatric patients.
Top Players in the Global Pulmonary Fibrosis Market:
- F. Hoffman - La Roche Ltd.
- Boehringer Ingelheim International GmbH
- Cipla Ltd
- Novartis AG
- Medicinova Inc.
- Gilead Sciences, Inc.
- Galecto Inc.
- Bristol-Myers Squibb Company
- Biogen
- Galapagos NV
- Promedior, Inc.
- Pliant Therapeutics Inc.
- MediciNova, Inc.
- FibroGen Inc.
- Avalyn Pharma Inc.
- Merck Co., Inc.
Type Outlook (Revenue, USD Million; 2019-2030)
- Idiopathic
- Auto-immune
- Familial
Treatment Outlook (Revenue, USD Million; 2019-2030)
- Nintedanib
- Pirfenidone
Product Outlook (Revenue, USD Million; 2019-2030)
- Capsule
- Tablets
- Others
Distribution Channels Outlook (Revenue, USD Million; 2019-2030)
- Online
- Offline
End User Outlook (Revenue, USD Million; 2019-2030)
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
Global Pulmonary Fibrosis Market Report: Regional Segmentation
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
Regional Overview of the Global Pulmonary Fibrosis Market:
The global Pulmonary Fibrosis market report covers the key regional markets including North America, Latin America, Asia Pacific, Europe, and the Middle East Africa. Under this section, the report highlights the major regions in the global Pulmonary Fibrosis market and discusses the regional market share, market size, revenue contribution, distribution channels, sales networks, and other key elements.
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