New York, United States , April 12, 2024 (GLOBE NEWSWIRE) -- The Global Pulmonary Fibrosis Biomarkers Market Size is to Grow from USD 4.0 Billion in 2023 to USD 6.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.3% during the projected period.
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Pulmonary fibrosis biomarkers are molecules, substances, or characteristics found in biological samples such as blood, sputum, or lung tissue that can be used to predict the presence, severity, progression, or response to treatment for pulmonary fibrosis. Furthermore, with the lung condition, idiopathic pulmonary fibrosis (IPF) is dangerous. When a patient breathes in, oxygen enters the bloodstream via small air sacs in their lungs. It then makes its way into the organs. Idiopathic pulmonary fibrosis causes scar tissue to accumulate in the lungs, resulting in congestion. The pulmonary fibrosis biomarker market is expanding as regulatory frameworks promote the development and approval of biomarkers for diagnosis, prognosis, and treatment monitoring. As the world's population ages, age-related illnesses such as pulmonary fibrosis become more prevalent, increasing the demand for pulmonary fibrosis biomarkers that aid in disease management in older populations. Furthermore, patient organizations' advocacy efforts increase demand for biomarkers, raise public awareness of pulmonary fibrosis, and push for better monitoring and diagnostic technologies. Moreover, the high cost of biomarker discovery, development, and validation, combined with the unpredictable nature of reimbursement rules, limits R&D investment. Furthermore, despite significant progress, there is still much to learn about the underlying mechanisms of pulmonary fibrosis. This lack of knowledge makes it difficult to find and validate reliable biomarkers.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Pulmonary Fibrosis Biomarkers Market Size, Share, and COVID-19 Impact Analysis, By Test Type (Blood Test, Imaging Test, Lung Biopsy), By Indication (Idiopathic Pulmonary Fibrosis, Pneumoconiosis, Sarcoidosis), By End-user (Hospitals, Diagnostic Laboratories), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The imaging test segment dominates the market with the largest revenue share over the anticipation timeframe.
Based on the test type, the global pulmonary fibrosis biomarkers market is categorized into blood tests, imaging tests, and lung biopsy. Among these, the imaging test segment is dominating the market with the largest revenue share over the anticipation timeframe. The demand for imaging tests continues to rise as imaging facilities become more widely available in healthcare settings, accelerating market expansion. Furthermore, the ability of imaging tests to provide real-time information and allow for timely treatment decisions encourages greater use of pulmonary fibrosis biomarkers. Furthermore, imaging tests are widely accepted and dominate the market because they are less expensive than invasive alternatives.
The idiopathic pulmonary fibrosis segment is witnessing significant CAGR growth over the anticipation timeframe.
Based on the indication, the global pulmonary fibrosis biomarkers market is categorized into idiopathic pulmonary fibrosis, pneumoconiosis, and sarcoidosis. Among these, the idiopathic pulmonary fibrosis segment is witnessing significant growth over the anticipation timeframe. The aging population, which is one of the primary risk factors for idiopathic pulmonary fibrosis, is driving up demand for pulmonary fibrosis biomarkers for early detection and monitoring. Furthermore, market expansion helps to support diagnostic innovations that detect IDF at an early stage, allowing for timely management and disease mitigation.
The hospital segment is expected to hold the largest share of the global pulmonary fibrosis biomarkers market during the anticipation timeframe.
Based on the end-user, the global mixed reality market is classified into hospitals and diagnostic laboratories. Among these, the hospital segment is expected to hold the largest share of the pulmonary fibrosis biomarkers during the anticipation timeframe. The integration of hospitals into the current healthcare system encourages the widespread use of pulmonary fibrosis biomarker tests. Hospitals frequently serve as referral centers, simplifying diagnostic procedures and expanding market share in the pulmonary fibrosis biomarker sector.
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Asia Pacific is anticipated to hold the largest share of the global pulmonary fibrosis biomarkers market over the predicted timeframe.
Asia Pacific is projected to hold the largest share of the global pulmonary fibrosis biomarkers market over the forecast period. China's leadership in the pulmonary fibrosis biomarker market stems from collaboration between Chinese research institutions and multinational pharmaceutical companies, which promotes cross-cultural knowledge exchange. China is at the forefront of pulmonary fibrosis research, thanks to government initiatives and precision medicine funding that promote the use of cutting-edge biomarker technology. China's rapid advancement has significantly aided the discovery and validation of novel pulmonary fibrosis biomarkers in machine learning and artificial intelligence.
The North America market is expected to grow at the fastest CAGR growth during the forecast period. Significant clinical trials and a robust healthcare infrastructure are influencing the evolving landscape of pulmonary fibrosis biomarker discovery in the United States. The demand for pulmonary fibrosis biomarkers in the United States is growing as patients and doctors become more aware of the condition.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global pulmonary fibrosis biomarkers market are Biocartis NV, Biogen Inc, Bristol-Myers Squibb Company, F. Hoffman-La Roche Ltd, Galapagos NV, Lung Therapeutics, Inc., Myriad Genetics, Inc, OptiKira LLC, Respivant Sciences GmbH, Veracyte, Inc, and among others.
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Recent Development
- In October 2023, Bristol Myers Squibb announced that BMS-986278, a first-in-class oral lysophosphatidic acid receptor 1 (LPA1) antagonist, has been granted Breakthrough Therapy Designation by the FDA for the treatment of progressive pulmonary fibrosis (PPF), a devastating and life-threatening illness. As a result, it expanded the company's product line.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global pulmonary fibrosis biomarkers market based on the below-mentioned segments:
Global Pulmonary Fibrosis Biomarkers Market, By Test Type
- Blood Test
- Imaging Test
- Lung Biopsy
Global Pulmonary Fibrosis Biomarkers Market, By Indication
- Idiopathic Pulmonary Fibrosis
- Pneumoconiosis
- Sarcoidosis
Global Pulmonary Fibrosis Biomarkers Market, By End-User
- Hospitals
- Diagnostic Laboratories
Global Pulmonary Fibrosis Biomarkers Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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