Global Interstitial Lung Disease Market, by Disease Type (Interstitial Pneumonia, Idiopathic Pulmonary Fibrosis, Nonspecific Interstitial Pneumonitis, Hypersensitivity Pneumonitis, Cryptogenic Organizing Pneumonia (COP), Sarcoidosis, and Acute Interstitial Pneumonitis), by Drug Type (Corticosteroids, Anti-fibrotic Medication, Pirfenidone, and Nintedanib), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1578.9 million in 2021 and is expected to exhibit a CAGR of 6.5% during the forecast period (2021-2028).
Key players in the market are focusing on gaining approvals from regulatory bodies in order to expand their product portfolio, which is expected to drive the growth of global interstitial lung disease market during the forecast period. For instance, in October 2014, Boehringer Ingelheim Pharmaceuticals, Inc., a pharmaceutical company announced that the U.S. Food and Drug Administration (FDA) approved OFEV (nintedanib) capsules for oral use for the treatment of idiopathic pulmonary fibrosis (IPF).
Market players entered into strategic partnership agreement to build new company, such partnerships are expected to drive the growth of the global interstitial lung disease market over the forecast period. For instance, in February 2020, BioMotiv, a mission-driven drug development accelerator associated with The Harrington Project for discovery and development, that advances breakthrough discoveries from research institutions into therapeutics, and Bristol-Myers Squibb Company, a pharmaceutical industry company announced the launch of Anteros Pharmaceuticals, a biotechnology company focused on developing a new class of drugs for fibrotic and other inflammatory diseases such as inflammatory bowel disease.
Global Interstitial Lung Disease Market - Impact of Coronavirus (COVID – 19) Pandemic
The coronavirus (COVID-19) pandemic is expected to drive the growth of the global interstitial lung disease market over the forecast period.
COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 233 million cases and 4.7 million deaths due to coronavirus (COVID-19) were reported up till September 29, 2021, across the globe.
Thus, the COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Furthermore, in May 2020, government of India announced relief for daily wage workers and construction workers for an amount of US$ 13.3 per person for all states and union territories.
Market players are focused on inorganic growth strategies such as collaboration, which is expected to drive the growth of global interstitial lung disease market. For instance, in January 2015, Bristol-Myers Squibb Company, a pharmaceutical company and the California Institute for Biomedical Research (Calibr) announced they have entered into a worldwide research collaboration to develop novel small molecule anti-fibrotic therapies, and an exclusive license agreement that allows Bristol-Myers Squibb to develop, manufacture, and commercialize Calibr's preclinical compounds resulting from the collaboration.
Browse 39 Market Data Tables and 22 Figures spread through 260 Pages and in-depth TOC on Global Interstitial Lung Disease Market, by Disease Type (Interstitial Pneumonia, Idiopathic Pulmonary Fibrosis, Nonspecific Interstitial Pneumonitis, Hypersensitivity Pneumonitis, Cryptogenic Organizing Pneumonia (COP), Sarcoidosis, and Acute Interstitial Pneumonitis), by Drug Type (Corticosteroids, Anti-fibrotic Medication, Pirfenidone, and Nintedanib), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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The increasing number of product approvals from regulatory bodies is expected to drive the growth of global interstitial lung disease market. For instance, in April 2020, Boehringer Ingelheim Pharmaceutical, Inc. announced that the European Commission had approved nintedanib for the treatment of systemic sclerosis-associated interstitial lung disease (SSc-ILD) in adults.
Increasing number of inorganic growth strategies such as strategic collaboration by key market players is expected to drive the growth of global interstitial lung disease market. For instance, in March 2019, the Open Source Imaging Consortium (OSIC) announced that they had signed an agreement with Siemens Healthineers, a healthcare company, to achieve rapid advances to treat idiopathic pulmonary fibrosis (IPF) and other progressive interstitial lung diseases (ILDs).
Key Takeaways of the Interstitial Lung Disease Market:
- The global interstitial lung disease market is expected to exhibit a CAGR of 6.5% over the forecast period (2021-2028), owing to increase in number of drug launches by market key players. For instance, in October 2020, BDR Pharma, a pharmaceutical company announced the launch of 100 mg and 150 mg Nintedanib under the brand name Nintenib for the treatment of Idiopathic Pulmonary Fibrosis (IPF).
- Increasing number of prevalence of interstitial lung disease is expected to drive the growth of the global interstitial lung disease market over the forecast period. For instance, in 2017, according to report published in European Respiratory Journal, the prevalence was 30.2% for sarcoidosis, 12.1% for connective tissue diseases associated interstitial lung disease, and 8.2% for idiopathic pulmonary fibrosis in Paris, France.
- Some of the major players operating in the global interstitial lung disease market include MSD (Merck), Liminal Biosciences, Glenmark Pharma, J.B. Chemicals & Pharmaceuticals, Boehringer Ingelhim International GmbH, F. Hoffmann-La Roche Ltd., and Cipla.
