Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "Cystic Fibrosis Therapeutics Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Cystic Fibrosis industry was valued at US$ 10.86 Billion in 2022 and is expected to reach US$ 24.35 Billion by 2028, at a CAGR of 14.4%
Cystic Fibrosis is an ongoing genetic disease that affects the lungs and other body systems (Pancreas, Liver, and Kidney) and for which there is currently no cure. It mainly affects the digestive and respiratory systems in children and young adults. About half of the population with cystic fibrosis will live past 40. It can cause problems with digestion and breathing from childhood age.
Over a decade, the lungs become increasingly damaged and may eventually stop working correctly. The primary target organs in cystic fibrosis are the sweat glands, the lungs, and the gastrointestinal tract, particularly the pancreas.
Although clinically the least serious problem, increased sodium and chloride concentration in sweat is the undisputed hallmark of cystic fibrosis. The main symptoms of cystic fibrosis include chest infections, difficulty putting on weight, wet-sounding coughs, and others. Physical therapy is used to treat cystic fibrosis, which helps reduce mucus from the lungs, Provide complete nutrition, etc.
The outlook for cystic fibrosis has improved considerably in recent five years due to advancements in RD of treatment, although most people with cystic fibrosis will have shorter-than-average life assurance. According to Cystic Fibrosis Patient Registry, more than 30,000 people are currently suffering from this condition in the U.S., while more than 70,000 people are suffering from Cystic Fibrosis across the globe. In addition to this, more than approximately 1000 new cases of the disease are diagnosed every year.
Rising spending on R&D research and other technological advancements in these therapeutic areas will open a new source of growth for industry participants. However, the higher cost of therapy, and several adverse effects of currently available drugs, such as liver problems, upper respiratory tract infection, chest pain, and increased blood pressure, among others, will restrain the industry growth.
By Route of Administration: Inhale market will capture maximum share in the forecast Period
Based on the Route of Administration, The Global Cystic Fibrosis market has been divided into two types oral and inhaled. The Inhale holds significant share due to their use leading to high drug levels within the airways, with lean systemic effects, and High-quality devices providing safe and convenient antibiotic and mucolytic therapy for individuals with Cystic Fibrosis dominate the market.
Medication Treatment Method holds Largest Market
Based on Treatment, Medication captured the largest share during the forecast period due to antibiotics to prevent and treat chest infections, to make the mucus easier to cough up, the lungs thinner, and medicines to reduce inflammation and widen the airways.
In addition, other factors such as rising demand and awareness about advance help stimulate the industry's expansion and significantly affect market share. The market has been categorized into Medication, Devices, and Other Treatments. Devices also hold the significant market revenue as the most commonly used pieces of equipment for CF treatments are compressors, nebulizers, and airway clearance devices. These are readily available in the market and convenient for patients.
By Test Type: Pulmonary Function Test Type holds the Significant Market
On the Test Type segment, the Global Cystic Fibrosis Therapeutics Market has been differentiated into Pulmonary Function, Sweat, IRT, Fecal, and Genetic.
The Pulmonary Function Test holds the most significant revenue in 2022 due to the tests measuring lung volume, capacity, rates of flow, and gas exchange. This information can help healthcare providers diagnose and decide the treatment of certain lung disorders has significantly dominated the segment.
By Distribution Channels: Hospitals holds the Maximum Revenue
By Distribution Channels, Hospitals hold the maximum revenue due to the growing demand for the disease and the need for the right diagnosis and follow-up treatments under medical supervision.
This leads to an increase in patient hospital visits, moving the growth of the hospital segment. Moreover, earnings generated by hospital pharmacies are proportionately high because infected people commonly visit nearby hospitals for doctor's prescription medicines and appointments. Therefore, the market is segmented into Hospitals, Retail Pharmacies, and Others.
CFTR Modulators Drug Class will gain the maximum revenue in upcoming years
Subjected to drug class, the Global Cystic Fibrosis industry has been grouped into Pancreatic Enzyme Supplements Drug, Mucolytic Drugs, Bronchodilators Drug, and CFTR Modulators Drug.
The CFTR Modulators Drug holds the maximum revenue because CFTR modulator drugs are novel-specialized therapies that enhance the functional expression of CFTR mutants and have been approved for clinical use for individuals with specific CF genotypes. Highly effective CFTR modulator drugs are expected to modify the disease course for most individuals with CF profoundly.
In addition, advanced experimental approaches have been established to accelerate the development of novel modulators, effectively boosting the Cystic Fibrosis Therapeutics Market.
North America will capture the maximum market in forecast period
By Region, the Global Cystic Fibrosis Market has been divided into North America, Latin America, Europe, Asia Pacific, and Others. However, North America dominated the market share due to demand from the increasing occurrence of cystic fibrosis and the accessibility of several treatment options in the Region.
Moreover, rising government initiative such as increasing funding for innovations and R&D projects on cystic fibrosis drug drives the industry revenue. For instance, the North American Cystic Fibrosis Conference (NACFC gives an educational forum for cystic fibrosis specialists to share developments in R&D related to cystic fibrosis therapeutics.
In addition, other factors, such as the presence of foremost market leaders, reimbursements, and well-established healthcare infrastructure, will propel the North American market demand over the forecast timeframe.
|No. of Pages||160|
|Forecast Period||2022 - 2028|
|Estimated Market Value (USD) in 2022||$10.86 Billion|
|Forecasted Market Value (USD) by 2028||$24.35 Billion|
|Compound Annual Growth Rate||14.4%|
Company Profiles: Overviews, Recent Developments, Revenues
- Vertex Pharmaceuticals
- Abbvie Inc.
- Novartis Ag
- Gilead Sciences
- Viatris INC
Route of Administration - Cystic Fibrosis Therapeutics Market Analysis have been Covered from 2 Viewpoints
Treatment - Cystic Fibrosis Therapeutics Market Analysis have been Covered from 3 Viewpoints
- Other Treatment
Test Type - Cystic Fibrosis Therapeutics Market Analysis have been Covered from 5 Viewpoints
- Plumonary Function
- Sweat Calories
- IRT Test
- Faceal Tests
- Genetic Tests
Distribution - Cystic Fibrosis Therapeutics Market Analysis have been Covered from 3 Viewpoints
- Retail Pharmacies
Drug Class - Cystic Fibrosis Therapeutics Market Analysis have been Covered from 4 Viewpoints
- Pancreatic Enzyme Supplements
- CFTR Modulators
For more information about this report visit www.researchandmarkets.com/r/eydf72
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