Market Trends of Fibrotic Disease Treatment Industry
Medication Segment is Expected to Hold the Significant Share Over the Forecast Period.
There are several medicines available for fibrotic diseases, including pirfenidone and nintedanib. The segment is driven by the increasing prevalence of fibrotic diseases, rising research and development activities to bring novel and innovative medicine into the market, and strategic activities by the market players that are expected to boost market growth over the forecast period.
Research and development activities have significantly opened various avenues for the treatment of several diseases. The emerging technological advancements, along with the appropriate research, led to the formation of several drugs for the treatment of diseases. The medication slows illness progression and effectively treats diseases. Nintedanib (Ofev) and pirfenidone (Esbriet) inhibit a physiological process that contributes to lung scarring. They may prevent the progression of IPF and aid in breathing. While oxygen therapy can assist those, who are short of breath to stay active.
Most people associate a company's research and development function with the invention of new products. While inventions are important, the development of existing products is of equal significance, as consumer preferences are continually changing. For instance, according to ClinicalTrial.gov, as of April 2023, there were 5,001 trials under development for fibrotic diseases across 207 countries. Hence, the rising development of new and more effective therapies for fibrotic diseases will provide new opportunities in the fibrotic disease treatment market.
Moreover, increasing launches of the medication are expected to boost the segment's growth over the forecast period. For instance, in May 2022, Sandoz announced the United States launch of generic pirfenidone, which is an AB-rated (fully substitutable) equivalent to Genentech's Esbriet for the treatment of patients with idiopathic pulmonary fibrosis (IPF). Moreover, in June 2021, Genentech, a member of the Roche Group, announced the United States Food and Drug Administration's (FDA) supplemental new drug application (sNDA) and granted priority review for Esbriet (pirfenidone). In June 2022, another company, Accord Healthcare, Inc., also announced the addition of pirfenidone to its solid oral products portfolio. This new drug is therapeutically equivalent to Genentech's Esbriet and is approved to treat idiopathic pulmonary fibrosis (IPF).
Thus, the factors mentioned above, such as growing research and development activities and the introduction of new medications, are expected to boost the segment's growth over the forecast period.
North America hold Significant Share in Fibrotic Disease Treatment Market Over the Forecast Period
The market for fibrotic diseases in North America is expected to experience lucrative growth during the study period due to the rising burden of pulmonary fibrosis and technological advancements in treatment in the studied market. In addition, product launches and strategic initiatives by key market players will also contribute to market growth.
The growing burden of fibrotic diseases such as cystic fibrosis (CF) is expected to boost the market for fibrotic disease treatment over the forecast period. According to the Cystic Fibrosis Report 2021, there were a total of 4,338 people with cystic fibrosis who visited one of Canada's 41 authorized CF clinics. There were 98 people newly diagnosed with cystic fibrosis, including 1,517 (35.0%) children and 2,821 (65.0%) adults, as well as 2,025 (46.7%) females and 2,313 (53.3%) men. In 2021. The entire Canadian CF population has been constantly growing. Thus, the growing burden of fibrotic diseases is projected to increase demand for fibrotic disease treatment medicine for effective control and management of the diseases, which is likely to contribute to the market throughout the forecast period.
The rising research and development operations for the treatment of fibrotic diseases may bring enhanced medicines to the market, making the drug available and accessible to patients. For instance, in September 2022, Bellerophon Therapeutics, Inc. stated that the FDA has accepted application to lower the study size for its current registrational REBUILD Phase 3 trial of INOpulse for the treatment of fibrotic interstitial lung disease (LD). Similarly, in October 2022, Boehringer Ingelheim reported that the first patient from the United States has enrolled in FIBRONEER-IPF, a global Phase III trial assessing BI 1015550, an experimental phosphodiesterase 4B (PDE4B) inhibitor, in persons with idiopathic pulmonary fibrosis (IPF). The trial is part of the FIBRONEER global program, which includes two Phase III studies: FIBRONEER-IPF in patients with IPF and FIBRONEER-ILD in adults with other progressive fibrosing interstitial lung disorders (ILDs).
Furthermore, considerable FDA approval in the country encourages companies to bring technologically sophisticated products to market, implying that increasing the availability of modern therapies to customers is projected to drive market growth. For instance, the FDA has given Istesso's BS2320 drug candidate Fast Track status for the treatment of individuals with idiopathic pulmonary fibrosis (IPF), a chronic illness that causes lung scarring. BS2320 is a metabolic reprogramming agent that has previously shown promise in treating rheumatoid arthritis symptoms and remodeling fibrotic tissue. Thus, due to the abovementioned factors, the studied market is expected to witness significant growth.
