by 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 Overview:
Interstitial lung disease (ILD) refers to a group of over 200 lung diseases affecting the interstitium (tissue and space around the air sacs of the lungs). Common symptoms of ILD include shortness of breath, dry cough and fatigue. ILD can be caused due to various environmental exposures, drugs and underlying connective tissue diseases. Currently, there is no cure for ILD and treatment focuses on slowing disease progression using drugs like corticosteroids, immunosuppressants and antifibrotic drugs. The interstitial lung disease market comprises drugs used for the treatment of idiopathic pulmonary fibrosis (IPF), non-specific interstitial pneumonia (NSIP), hypersensitivity pneumonitis (HP) and other rare lung diseases. Increasing prevalence of ILD and the approval of novel antifibrotic drugs have driven the growth of this market over the recent years.
Market key trends:
One of the key trends in the ILD market is the approval and launch of novel antifibrotic drugs. Until 2014, corticosteroids and immunosuppressants were the only pharmacological treatment options for IPF patients. However, in 2014, the FDA approved pirfenidone (Esbriet) and nintedanib (OFEV/Ofev), the first antifibrotic drugs approved to treat IPF. These drugs, by inhibiting lung scarring, help in slowing disease progression and improving patient survival. Several clinical trials have demonstrated the effectiveness of these drugs in reducing the decline in lung function. Their approval has significantly improved IPF treatment landscape. Growing awareness about ILD, availability of advanced diagnostic tools, and novel drug pipeline are the other major factors fueling the growth of this market in the coming years.
Porter’s Analysis
Threat of new entrants: Low barriers to entry due to moderate capital requirements in the Interstitial Lung Disease market. However, established players dominate the market making it difficult for new players to gain foothold.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative treatment options for interstitial lung disease. However, innovator drugs for specific Interstitial Lung Disease indications provide differentiation.
Bargaining power of suppliers: Large pharmaceutical companies and research organizations that supply advanced treatment options have high bargaining power due to differentiated products and technologies.
Threat of new substitutes: Threat of new substitutes is moderate as alternatives focus on symptom management. Development of advanced treatment may increase threat of substitutes.
Competitive rivalry: The Interstitial Lung Disease market consists of few big players leading to high competitive rivalry. Players compete based on pipeline strength and portfolio expansion into new geographies.
Key Takeaways
The Global Interstitial Lung Disease Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing research focusing on advanced treatment options. The market size for 2023 is estimated to be US$ 1790.83 Mn.
North America is expected to dominate the global Interstitial Lung Disease market during the forecast period. This is attributed to growing patient population, rising demand for novel therapies and presence of major market players in the region. increasing research funding for ILD by governments and non-profit organizations is also fueling the market growth.
Key players operating in the Interstitial Lung Disease market include MSD (Merck), Liminal Biosciences, Glenmark Pharma, J.B. Chemicals & Pharmaceuticals, Boehringer Ingelhim International GmbH, F. Hoffmann-La Roche Ltd, Inc., and Cipla. These players are focused on expanding their product portfolios through mergers & acquisitions and collaboration activities. For instance, in 2022, Boehringer Ingelheim collaborated with Galapagos for the development of filgotinib for the treatment of interstitial lung diseases.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
