Cystic Fibrosis Therapeutics Market
In 2023, the global Cystic Fibrosis Therapeutics Market is expected to be worth US$ 12.5 billion. The overall demand for Cystic Fibrosis is expected to grow at a CAGR of 25.0% between 2023 and 2033, totaling around US$ 116.42 Billion by 2033, with the implementation of innovative 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
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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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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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