The global cystic fibrosis drug market size was USD 8.85 Billion in 2021 and is expected to register a revenue CAGR of 24.5% during the forecast period.
NEW YORK, NEW YORK, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- In 2021, the Global Cystic Fibrosis Drugs Market size was valued at USD 8.85 billion, and it is projected to have a revenue compound annual growth rate (CAGR) of 24.5% during the forecast period, which can be attributed to new technologies and advancements in therapeutic treatments. One of the primary drivers for market revenue growth is the increasing demand for bronchodilator drugs. Cystic fibrosis damages cells responsible for producing mucus, perspiration, and digestive fluids, and 80% of individuals with cystic fibrosis are prescribed inhaled bronchodilators to alleviate symptoms by widening the airways. These drugs are also used to treat long-term conditions such as asthma, which is caused by airway inflammation, and Chronic Obstructive Pulmonary Disease (COPD), a lung disease that causes airway obstruction. According to the World Health Organization (WHO), roughly 50% of children with cystic fibrosis in developed countries are identified in their first year of life based on clinical or family history. Cystic fibrosis is a hereditary condition that affects the lungs, pancreas, liver, kidneys, and gut, resulting in breathing difficulties and thick, viscous secretions that can be fatal to the lungs, pancreas, liver, and gut, as well as impairing pancreatic enzymatic functions in the body. For instance, research indicates that approximately 40,000 children and adults in the United States are affected by cystic fibrosis each year.
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Segments Covered in the Report –
This report provides comprehensive analysis and forecasts of revenue growth for the global cystic fibrosis drug market from 2019 to 2030. The report examines market trends at a global, regional, and country level, offering historical data and projections for each sub-segment.
The global cystic fibrosis drug market has been segmented by Reports and Data based on drug class, route of administration, distribution channel, and region. The drug class outlook includes Cystic Fibrosis Drug Transmembrane Conductance Regulator (CFTR), Bronchodilators, Mucolytic, Pancreatic Enzyme Supplement, and Others. The route of administration outlook includes Oral and Parenteral, while the distribution channel outlook covers Retail Pharmacies & Drug Stores, Online Pharmacies, and Hospital Pharmacies.
The report also includes a regional outlook for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Country-level analysis is provided for the U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, and Turkey.
The growing demand for cystic fibrosis drugs is attributed to the increasing prevalence of the disease and advancements in therapeutic treatments. Bronchodilators are the most commonly prescribed drugs for cystic fibrosis, and they are also used to treat long-term respiratory conditions such as asthma and COPD.
According to the World Health Organization, approximately 50% of children with cystic fibrosis in developed countries are identified in their first year of life based on clinical or family history. Cystic fibrosis is a hereditary condition that affects the lungs, pancreas, liver, kidneys, and gut, causing breathing difficulties and thick, viscous secretions that can be fatal to various organs in the body.
Overall, this report offers valuable insights into the global cystic fibrosis drug market, providing historical data and forecasts for revenue growth, as well as analysis of market trends across various sub-segments and regions.
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Strategic development:
A strategic research collaboration and licensing agreement was announced by Moderna, Inc. and Vertex Pharmaceuticals Incorporated on September 16, 2020. The agreement aims to develop lipid nanoparticles (LNP) and mRNAs for gene-editing treatments to cure cystic fibrosis (CF). The focus of the three-year research collaboration is on discovering and improving novel LNPs and mRNAs that can transport gene-editing therapies to lung cells, enabling the production of functional cystic fibrosis transmembrane conductance regulator (CFTR) protein.
Competitive Landscape:
The global cystic fibrosis drug market is highly competitive, with a fragmented competitive landscape, and many key players operating on both global and regional levels. These players are heavily involved in product development and strategic alliances in order to broaden their product portfolios and establish a strong position in the global market. Major companies operating in this market include F. Hoffmann-La Roche Ltd, Novartis AG, Gilead Sciences, Inc., Vertex Pharmaceuticals Incorporated, AbbVie Inc., Teva Pharmaceutical Industries Ltd, Pharmaxis Ltd, Mylan N.V, Genentech, Inc., and AstraZeneca.
In a major development on September 16, 2020, Moderna, Inc. and Vertex Pharmaceuticals Incorporated announced a strategic research cooperation and licensing agreement. The collaboration is aimed at developing lipid nanoparticles (LNP) and mRNAs for the delivery of gene-editing treatments to cure cystic fibrosis (CF). The three-year research cooperation is initially focused on discovering and optimizing novel LNPs and mRNAs that can deliver gene-editing therapies to lung cells, thus enabling the production of functional cystic fibrosis transmembrane conductance regulator (CFTR) protein. This agreement is expected to create significant opportunities for both companies to advance research and development in the field of gene therapy for cystic fibrosis, ultimately leading to the introduction of effective treatments for patients.
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