INTERSTITIAL LUNG DISEASE MARKET ANALYSIS

Interstitial Lung Disease MarketSize and Trends

The global interstitial lung disease market is estimated to be valued at US$ 1,578.9 Mn in 2021 and is expected to exhibit a CAGR of 6.5% over the forecast period (2021-2028).

Figure 1: Global Interstitial Lung Disease Market Share (%) Analysis, By Disease Type, 2021

Increasing number of drug approvals from regulatory bodies is a major factor driving the market growth over the forecast period.

Market players are focusing on gaining drug approvals from regulatory bodies, which is expected to drive the growth of global interstitial lung disease market during the forecast period. For instance, in April 2021, United Therapeutics Corporation, a biotechnology company, announced that the U.S. Food and Drug Administration (FDA) had approved Tyvaso (treprostinil) Inhalation Solution for the treatment of patients with pulmonary hypertension associated with interstitial lung disease to improve exercise ability.  

Adoption of inorganic strategies by the market players is expected to drive the market growth during the forecast period.

Increasing number of partnerships by key players are expected to boost the growth of global interstitial lung disease market during the forecast period. For instance, in September 2020, Boehringer Ingelheim (Canada) Ltd., a pharmaceutical company, announced that they had entered into partnership with the University Hospital Foundation (UHF), this partnership will focus on improving patient outcomes in the area of progressive fibrosing interstitial lung disease (PF-ILD).

Global Interstitial Lung Disease Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one such sector, which has been majorly impacted by the pandemic. Cancer patients in general and those suffering from lung cancer in particular are a vulnerable group because of their various intrinsic characteristics and care needs. Lung cancer patients require frequent radiologic study follow-ups, which had been affected due to COVID-19 pandemic. COVID-19 related incidental radiologic findings can appear in routinely scheduled radiology tests, which may be difficult to interpret. Moreover, cancer treatment induced pneumonitis may have similar radiologic features similar to those in acute SARS-CoV-2 pneumonia and lead to a wrong diagnosis. The different health care needs, the requirement for continuous health care access and follow-ups, and the clinical trials in which this patient population might be enrolled are all being affected by the current COVID-19 health crisis. Due to COVID-19 pandemic health care providers and institutions faced difficult situations and challenging ethical scenarios.