According to the Cystic Fibrosis (CF) Therapeutics Market report published by the Allied Market Research, the study presents impending revenue forecast of the industry for the next few years coupled with imminent market trends and opportunities. Moreover, the study also doles out different logical tables and graphs to identify the complexities of the market.
The global cystic fibrosis therapeutics market size was valued at $4,615.4 million in 2018 and is expected to reach $9,277.3 million by 2026, registering a CAGR of 9.2% from 2019 to 2026. Cystic fibrosis is a hereditary disorder, which majorly affects lungs and other body parts such as pancreas, liver, and kidney. It is caused by the mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene. This gene is located in chromosome number 7, and is responsible for the regulation of sweat, mucus, and body secretions. However, mutation of this gene leads to absence of CFTR activity, which in turn results in loss of chloride and alters the protein structure.
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The global cystic fibrosis therapeutics market is expected to witness significant growth during the forecast period majorly due to availability of personalized drug therapy & molecular prosthetics for the treatment of cystic fibrosis. Furthermore, rise in prevalence of cystic fibrosis and surge in awareness about cystic fibrosis across the globe boost the cystic fibrosis market trend. For instance, according to the Cystic Fibrosis Foundation Patient Registry, in the U.S. more than 30,000 people are living with cystic fibrosis and more than 70,000 worldwide. In addition, approximately 1,000 new cases of CF are diagnosed each year and more than 75 % of people with CF are diagnosed by age 2. Moreover, increase in R&D investments made by government in the healthcare sector drives the cystic fibrosis therapeutics market growth.
The global cystic fibrosis therapeutic market is segmented on the basis of drug class, route of administration, top selling drug, and region. On the basis of drug class, the market is divided into pancreatic enzyme supplements, mucolytic, bronchodilators, and CFTR modulators. Depending on route of administration, it is classified into oral and inhaled. By top selling drug, the market is segregated into pulmozyme, Creon, kalydeco, cayston, azithromycin, tobramycin and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Europe constitutes the highest market share in the global cystic fibrosis therapeutics market in 2018, followed by North America owing to the increase in incidence of cystic fibrosis. Moreover, increase in governmental support for innovation and rise in funding of projects for R&D of various cystic fibrosis drugs further fuel the market growth in this region. UK is the highest revenue contributor due to increase in prevalence of cystic fibrosis in this region. Moreover, surge in national newborn screening program in the UK propels the market growth. In addition, many companies are involved in developing drugs for individuals who do not get benefitted with CFTR drugs. However, North America is projected to grow at the highest CAGR during the forecast period.
• The cystic fibrosis therapeutics market share is based on a comprehensive analysis of key developments in the cystic fibrosis industry.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global cystic fibrosis therapeutics market.
• The cystic fibrosis therapeutics market trends are studied from 2018 to 2026.
• Information about key drivers, restrains, and opportunities and their impact analysis on the cystic fibrosis therapeutics market size is provided.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global cystic fibrosis therapeutics market forecast from 2019 to 2026 is provided to determine the market potential.
The research offers an extensive analysis of key players operating in cystic fibrosis therapeutic markets are Genentech, Inc., Novartis AG, Gilead Sciences, Inc., Vertex Pharmaceuticals Incorporated, AbbVie Inc., GlaxoSmithKline Plc., Johnson & Johnson, Allergan plc, Pharmaxis Ltd., and Mylan N.V.
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