Pune, Sept. 20, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that in 2022, the Cystic Fibrosis Market was valued at USD 7.13 billion in 2022 & is projected to reach USD 39.59 billion by 2030, with an anticipated compound annual growth rate of 23.9% from 2023 to 2030.”
Market Overview
Cystic fibrosis (CF) is a complex and debilitating genetic disorder that primarily affects the respiratory and digestive systems. Symptoms of cystic fibrosis can vary widely among individuals and may include persistent coughing, wheezing, shortness of breath, recurrent lung infections, poor growth, salty-tasting skin, and digestive issues like diarrhea and greasy stools. Advancements in medical research have led to the development of targeted therapies that aim to correct the underlying genetic defect, offering hope for improved outcomes and a higher quality of life for individuals with cystic fibrosis.
Market Analysis
The cystic fibrosis market is continually evolving, driven by several factors that play a pivotal role in shaping the landscape for patients, caregivers, and pharmaceutical companies. Ongoing research and development efforts have led to a better understanding of the genetic and molecular mechanisms underlying cystic fibrosis. This has paved the way for the development of innovative treatments targeting the root causes of the disease, such as CFTR modulators like Trikafta and Kalydeco. The emergence of personalized medicine approaches, enabled by genetic testing, has transformed the treatment landscape for cystic fibrosis patients. Tailored therapies that address specific mutations in the CFTR gene have shown remarkable efficacy, offering patients more targeted and effective treatment options. Pharmaceutical companies are expanding their presence in the market, both geographically and in terms of product offerings. This expansion increases accessibility to innovative therapies for patients in different regions and with varying genetic mutations.
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Major Players Listed in this Report are:
- Allergan plc
- GlaxoSmithKline Plc.
- Teva Pharmaceutical Industries Ltd.
- Pharmaxis Ltd
- Mylan N.V
- Vertex Pharmaceuticals Incorporated
- AbbVie Inc.
- F. Hoffmann-La Roche AG
- Novartis AG
- Gilead Sciences, Inc. & Other Players
Cystic Fibrosis Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 7.13 Bn |
| Market Size by 2030 | US$ 39.59 Bn |
| CAGR | CAGR of 23.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Cystic Fibrosis Market Study
- The hospital pharmacies segment to dominate the market owing to its convenience, comprehensive approach to care, and collaboration with specialized healthcare teams. As cystic fibrosis treatments continue to advance, hospital pharmacies are likely to remain at the forefront of delivering the best possible care to patients.
- The enzyme supplement segment has become a transformative force in the market by addressing a critical aspect of the disease: digestive problems. These supplements offer hope, improved nutrition, and enhanced quality of life for cystic fibrosis patients, making them a dominant and indispensable component of cystic fibrosis management.
Recent Developments
- Anoat Therapeutics, a promising biotechnology startup dedicated to developing innovative therapies for cystic fibrosis, has successfully secured €2 million in funding from a combination of venture capital firms and strategic investors. It will enable the company to accelerate preclinical studies, expand its team of researchers and scientists, and invest in state-of-the-art laboratory equipment and technology.
- Roche and AbbVie's recent partnership announcement to acquire the TMEM 16A product portfolio marks a significant milestone in the field of respiratory medicine, particularly in the treatment of cystic fibrosis (CF) with rare CFTR genotypes and related respiratory illnesses.
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Market Dynamics Analysis
The cystic fibrosis market dynamics are characterized by a complex interplay of drivers, restraints, challenges, and threats that shape the landscape of research, development, and treatment for this debilitating genetic disorder. On the driver's side, advances in our understanding of the genetic basis of cystic fibrosis have led to the development of targeted therapies like CFTR modulators, offering hope for improved patient outcomes. Additionally, increasing awareness and early diagnosis programs have expanded the patient pool, fueling market growth. However, there are significant restraints, such as the high cost of these innovative treatments, which raises concerns about accessibility and affordability. Challenges persist in the form of limited therapeutic options for certain genetic mutations, necessitating ongoing research. Furthermore, the threat of emerging infectious diseases, like COVID-19, poses a significant risk to cystic fibrosis patients with compromised respiratory systems.
Cystic Fibrosis Market Segmentation:
By Drug Class
- Enzyme Supplement
- Cystic Fibrosis Transmembrane Conductance Regulator
- Pancreatic
- Mucolytic
- Bronchodilators
- Others
By Route of Administration
- Parenteral
- Oral
By Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies & Drug Stores
Key Regional Developments
North America, especially the United States, has a well-established cystic fibrosis market. High healthcare expenditures, robust research funding, and a strong pharmaceutical industry drive innovation and treatment development. Germany is a key player in the European CF market. The country's robust healthcare infrastructure and pharmaceutical industry contribute to advanced treatments and research. Asia Pacific boasts a comprehensive healthcare system and dedicated CF centers. It has been actively participating in clinical trials for new CF therapies.
Impact of Recession on Cystic Fibrosis Market Growth
Recessions can have a multi-faceted impact on the cystic fibrosis market, affecting patients, caregivers, healthcare providers, and researchers. As hospitals and healthcare facilities face financial pressures during a recession, there may be reduced capacity and longer wait times for CF patients seeking treatment. This can lead to delayed care and potential complications. Addressing these challenges requires a collaborative effort to ensure that individuals with CF continue to receive the care and support they need, even in challenging economic times.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis 5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cystic Fibrosis Market Segmentation, By Drug Class
9. Cystic Fibrosis Market Segmentation, By Route of Administration
10. Cystic Fibrosis Market Segmentation, By Distribution Channel
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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