By 2023, it is anticipated that the worldwide cystic fibrosis therapeutics market would be worth US$ 12.5 billion. The market for cystic fibrosis is expected to rise globally at a CAGR of 25.0% between 2023 and 2033, reaching about US$ 116.42 billion by that time, thanks to the advent of cutting-edge treatment options for early detection.
The rising prevalence of CF indicates an increase in demand for treatment options, which will drive the Cystic Fibrosis Therapeutics Market in the near future. The key players in this market focus on the development of novel therapeutics for treatment in collaboration with nonprofit organisations. VX-445 + tezacaftor + ivacaftor, PTI-428, QR-010, AZD5634, and POL6014 are among the drugs in clinical trials.
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The rising prevalence of cystic fibrosis, advancements in screening and treatment, and the availability of modified drug therapy and molecular prosthetics to cure cystic fibrosis are the major factors driving the revenue share of the cystic fibrosis therapeutics market during the forecast period. Furthermore, rising awareness about this progressive genetic disease, as well as the increasing adoption of drug therapies, are important factors that are expected to accelerate market growth over the forecast period.
Key Companies Profiled :
•Novartis AG
•Vertex Pharmaceuticals Incorporated
•AbbVie Inc.
•Gilead Sciences, Inc.
•Mylan N.V.
•Pfizer Inc.
•Bayer AG
•Genentech, Inc.
•AstraZeneca
Recent Developments:
•In April 2018, Novartis Venture Fund along with Versant Ventures invested US$ 41 million for series B round in cystic fibrosis disease startup Enterprise Therapeutics. The financing will allow Enterprise Therapeutics to push three projects into clinical phase.
•In March 2018, US FDA approved product named Symdeko manufactured by Vertex Pharmaceuticals Incorporated. The product is a combination of Tezacaftor and Ivacaftor majorly used in the treatment of CF.
Key Segments Covered in the Cystic Fibrosis Industry Analysis:
Cystic Fibrosis Therapeutics Market by Drug Class:
•Cystic Fibrosis Transmembrane Conductance Regulator (CFTR)
•Bronchodilators
•Mucolytic
•Pancreatic Enzyme Supplement
•Others
Cystic Fibrosis Therapeutics Market by Route of Administration:
•Oral
•Parenteral
Cystic Fibrosis Therapeutics Market by Distribution Channel:
•Retail Pharmacies & Drug Stores
•Online Pharmacies
•Hospital Pharmacies
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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