The global Cystic Fibrosis Market size is expected to reach USD 37.04 billion by 2030, according to a new study by 24.3% Market Research.
Rising awareness about cystic fibrosis and growing adoption of drug therapies are the prominent factors driving the cystic fibrosis market growth. A variety of oral and inhaled drugs are available for the treatment that increases compliance to the treatment owing to the ease and convenience of administering it. The widespread availability of different cystic fibrosis treatment options will expand the market size over the coming years.
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Cystic fibrosis is a genetic disorder that affects more than 30,000 people in the U.S. and over 70,000 people are suffering from it worldwide. Additionally, more than approximately 1000 new cases of the disease are diagnosed every year.
Favorable technological advancements in this therapeutic area will open new avenues of growth for industry participants. Rising innovation in the development of new therapies and drug products to cure cystic fibrosis is anticipated to foster growth in the cystic fibrosis market over the analysis period.
Rising number of cases of respiratory illness post Covid-19 pandemic has spurred the cystic fibrosis market growth. It has given the key industry players an opportunity to focus on the development of new drugs that can enable fast recovery and reduce mortality rates across the globe.
High cost of treatment, stringent regulations prolong approval of drugs, and adverse effects of currently available drugs such as liver problems, upper respiratory tract infection, chest pain, and increased blood pressure among others will hinder the future market growth.
Cystic Fibrosis Market Report Highlights
- CFTR modulators segment is anticipated to grow at a significant CAGR over the forecast period owing to their efficacy in improving body function at the cellular level and positively impact the quality of life.
- Oral drugs accounted for a significant share owing to the preference among patients and medical practitioners due to the ease and convenience associated with administering the cystic fibrosis drugs
- Hospital segment is expected to hold a significant market share among the distribution channels over the forecast period owing to the rising need for precise diagnosis and required medical supervision associated with the treatment. Moreover, the rising number of patient hospital visits will fuel the hospital segment growth.
- North America is expected to grow at a significant CAGR over the projected period on account of the increasing incidence of cystic fibrosis and the availability of multiple treatment options in the region.
- Global players include Vertex Pharmaceutical, Genentech Inc., Teva Pharmaceuticals, Gilead Sciences, Roche, Nestle Health Science, AbbVie, Vitric Inc., Novartis AG, Mylan N.V, Pfizer Inc., Bayer, AstraZeneca, and Horizon Therapeutic, among others.
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Polaris Market Research has segmented the cystic fibrosis market report based on drug class, route of administration, distribution channel, and region:
Cystic Fibrosis Market, By Drug Class (Revenue – USD Billion, 2018 – 2030)
- CFTR modulators
- Mucolytics
- Bronchodilators
- Pancreatic enzyme supplements
- Others
Cystic Fibrosis Market, By Route of Administration (Revenue – USD Billion, 2018 – 2030)
- Oral drugs
- Parenteral drugs
Cystic Fibrosis Market, By Distribution Channel (Revenue – USD Billion, 2018 – 2030)
- Hospital
- Retail pharmacies
- Others
Cystic Fibrosis Market, By Region (Revenue – USD Billion, 2018 – 2030)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
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