April 20, 2024
Interstitial Lung Disease Market

The Interstitial Lung Disease Market is Projected to driven by rising geriatric population  

Interstitial lung disease refers to a group of lung disorders affecting the interstitium (the tissue and space around the air sacs of the lungs). Common symptoms include shortness of breath and dry cough. There are over 200 types of interstitial lung diseases which can be classified based on etiology or radiographic/histopathologic appearances. Some common types include idiopathic pulmonary fibrosis, pneumoconiosis, hypersensitivity pneumonitis, sarcoidosis, and lymphangioleiomyomatosis. The demand for interstitial lung disease treatment drugs and devices is increasing owing to rising geriatric population across the globe who are more susceptible to such lung disorders. As people age, their lung capacity and function decline, making them vulnerable to interstitial lung diseases.

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 key trends
One of the major trends driving the interstitial lung disease market is the rising adoption of biologics and targeted therapies. Conventional therapies for ILDs such as corticosteroids and immunosuppressants are not effective and have significant side effects. Hence, newer biologics and targeted therapies offering better efficacy and safety are gaining popularity. Some key players are focusing on developing monoclonal antibodies targeting specific pathways involved in the pathogenesis of ILDs. For instance, Boehringer Ingelheim’s nintedanib is a tyrosine kinase inhibitor approved for treating ILDs associated with systemic sclerosis and idiopathic pulmonary fibrosis. Similarly, Roche’s pirfenidone is an antifibrotic drug used in idiopathic pulmonary fibrosis.

Porter’s Analysis

Threat of new entrants: Low due to the involvement high research and development costs, high capital requirements, and established branded drugs.

Bargaining power of buyers: Moderate as most buyers are searching for novel treatment and diagnostic options for different types of ILD.

Bargaining power of suppliers: High due to the presence of a large number of raw material suppliers and contract manufacturers.

Threat of new substitutes: Low as the treatment options are limited for ILD conditions.

Competitive rivalry: High due to the presence of many generic manufacturers and strong competition among established players.

Key Takeaways

The Global Interstitial Lung Disease Market Size is expected to witness high growth. Regional analysis comprises 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 global market due to rising awareness regarding ILD diagnosis and availability of advanced treatment facilities. Europe is anticipated to witness faster growth over the forecast period owing to new product launches coupled with the rising prevalence of ILD in the region.

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. The key players are largely focused on achieving competitive advantage through new product developments as well as expanding their manufacturing and commercial footprint across various geographies. For instance, in 2019, J.B. Chemicals & Pharmaceuticals launched novel drug Nintedanib to strengthen its product portfolio.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it