The global cystic fibrosis therapeutics market is subject to witness a substantial growth due to the growing occurrence of cystic fibrosis (CF) and increasing demand of advanced treatment associated with the disorder. Additionally, increase in the research & development and introduction of novel products in the market are anticipated to boost the market growth in the forecast period. Increase in number of initiatives and schemes carried out by government authorities and leading industry players to promote early adoption of cystic fibrosis therapeutics coupled with presence of favorable reimbursement policies are considered as some of the major factors driving market growth, in the recent years.
The cystic fibrosis therapeutics market is estimated to grow at a substantial CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development in the cystic fibrosis therapeutics market. As per Cystic Fibrosis Foundation (CPF), the number of patients suffering from cystic fibrosis disorders due to hereditary factors is on the rise, thereby driving the demand for highly advanced cystic fibrosis therapeutics, in the last decade. The recent advancements in the cystic fibrosis therapeutics and development of innovative techniques are anticipated to fuel the market growth in the upcoming years.
Introduction of enhanced drug CF transmembrane conductance regulator (CF-TCR) enhancer, bronchodilators medicine, mucolytic medicine, anti-infective enhancer, various antibiotics, anti-inflammatory medicine, and pancreatic enzyme supplements with approval form various local and international authorities are estimated to amplify overall market value of cystic fibrosis therapeutics industry during the forecast period.
Furthermore, recent R&D activities in regards to the development of innovative drug compositions in the pipeline by prominent industry players is considered as one of the major driving factors for market growth, in the last few years. Growing number of successful clinical trials is expected to expand consumer base for cystic fibrosis therapeutics industry with growing influence of drug portfolio. Increasing adoption of enhanced drugs such as VX-445, PTI-428, QR-010, AZD-5634, and POL-6014 for cystic fibrosis therapeutics is projected to propel market demand in the near future.
Growing awareness and rising per capita income in the developing and developed economies coupled with increasing presence of various nonprofit organizations such as Cystic Fibrosis Worldwide and Cystic Fibrosis Foundation are expected to widen market reach for cystic fibrosis therapeutics market. The organization like Cystic Fibrosis Worldwide and Cystic Fibrosis Foundation are substantially investing for development of different types of therapeutics to cure cystic fibrosis disorders.
The cystic fibrosis therapeutics market is broadly categorized into four major types based on the drug class such as pancreatic enzyme supplements, mucolytic, bronchodilators, and transmembrane conductance regulator (CF-TCR) enhancer. The cystic fibrosis therapeutics involves maintenance of various lung function during regulating respiratory disorders and management of airways in mucus, supervising the nutritional therapy, and controlling the complications.
The CF transmembrane conductance regulator (CF-TR) modulator is considered as one of the fastest growing segment in the cystic fibrosis therapeutics industry with significant revenue generation in the last couple of years. The cystic fibrosis therapeutics market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in the recent years owing to the rise in implementation of latest technologies in the pharmaceutical & medicine industry and existence of well-established healthcare infrastructure in the region.
Asia-Pacific region is predicted to hold major market share with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with growing awareness associated with the cystic fibrosis disorders & treatment options among general population, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the cystic fibrosis therapeutics market are AbbVie Incorporations, F. Hoffmann-La Roche Limited, Gilead Sciences, Inc., Novartis AG, Vertex Pharmaceuticals Incorporations, AIT (Advanced Inhalation Therapies) Inc., Alaxia SAS, Teva Pharmaceutical Industries Limited, Merck & Co., Alcresta Therapeutics Incorporations, Allergan plc, and AstraZeneca plc.
Research Support Specialist, USA