Dublin, July 04, 2024 (GLOBE NEWSWIRE) -- The "Cystic Fibrosis Therapeutics Market Report by Drug Class, Route of Administration, Distribution Channel, Regions and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
Cystic Fibrosis Therapeutics Market share is anticipated to be about US$ 15.42 billion by 2032. The CAGR for the market from 2024 to 2032 is 9.05%. According to the publisher, it was valued US$ 7.07 billion in 2023.
Approximately 70,000 people worldwide suffer with cystic fibrosis (CF), one of the most prevalent hereditary disorders, according to the NIH.
The growing prevalence of cystic fibrosis (CF) is one of the key factors driving the cystic fibrosis therapeutics market over the forecast period.
The CF Foundation said that approximately 40,000 adults and children in the US have cystic fibrosis, and 105,000 people worldwide are thought to have received a CF diagnosis. Growing awareness of this degenerative genetic illness and the growing use of pharmaceutical therapy are the also the factors driving the cystic fibrosis therapeutics industry.
For instance- The cystic fibrosis community gathers for CF Awareness Month in May. "Resilient" is this year's CF Awareness Month theme. Regardless of people's relationship to cystic fibrosis, the Cystic Fibrosis Foundation offers shareable resources to assist them in sharing their story on social media this month and throughout the year.
The market for cystic fibrosis therapeutics is expanding thanks to the numerous advances in cystic fibrosis pharmacotherapy. The other elements anticipated to propel the cystic fibrosis therapeutics market in the next years are also an increase in R&D investment and legislation that is supportive of the industry.
In March 2023 - To speed up the development of novel medicines for cystic fibrosis patients, LifeArc, a member of the CF AMR Syndicate, is offering drug discovery innovators £3 million in joint funding. About five collaborative initiatives that seek to quickly discover novel antimicrobial medicines to treat chronic respiratory infections in individuals with cystic fibrosis will be supported by the CF AMR Syndicate's Collaborative Discovery Programme.
Asia-Pacific Cystic Fibrosis Therapeutics Market
- Both the number of patients and the popularity of the urban lifestyle are rising in the area. This is anticipated to drive the cystic fibrosis therapeutics market in Asia-Pacific.
- According to the NIH, China has been steadily recognizing cystic fibrosis (CF) in recent years. The number of CF patients reported in China in the last ten years is more than 2.5 times the total number in the preceding thirty years, and the projected total number of CF patients in China is more than 20 000.
- According to a research released by four United Nations organizations, Asia's cities are expanding so quickly that by 2030, over half of the vast population of the region is predicted to live in urban settings. This will have similarly significant effects on urban food security and nutrition.
- Rising healthcare expenditures are anticipated to fuel the cystic fibrosis treatment market in the Asia-Pacific region.
- Asia-Pacific will have the highest growth in healthcare spending, making up over 20% of global spending by 2030, predicts Bain & Company. Customers are willing to spend more and take a more proactive role in maintaining their health. In exchange for improved health outcomes, better experiences, and greater efficiency, about 50% of all consumers - 58% of whom are Gen Z - plan to increase their healthcare spending.
- Increased funding for CF pharmaceutical research and development studies, along with other helpful government initiatives, will propel the growth of the Asia-Pacific cystic fibrosis medicines market.
- In February 2023 - An international patient-led movement has been launched in several nations, including India, to gain access to Vertex Pharmaceuticals' (American biotech business) Trikafta, a treatment for cystic fibrosis (CF).
Cystic Fibrosis Therapeutics Industry News
- In March 2024 - Israeli business BiomX purchased American startup Adaptive Phage Therapeutics to establish a biotech company dedicated on advancing two genetically modified viruses that eradicate bacteria through clinical trials.
- In November 2023 - Arcturus Therapeutics's ARCT-032 has been designated as an orphan drug by the US Food and medication Administration (FDA) to treat cystic fibrosis (CF).
- In November 2023 - The licenses for the cystic fibrosis medications Kaftrio (ivacaftor, tezacaftor, and elexacaftor) and Kalydeco (ivacaftor) for children two to five years old have been renewed by the Medicines and Healthcare Products Regulatory Agency (MHRA).
- In October 2023 - ATUM has extended its collaboration with Anagram Therapeutics Inc., a clinical-stage biopharmaceutical enterprise committed to enhancing the quality of life for individuals afflicted with cystic fibrosis (CF) and other uncommon illnesses. The extended collaboration comes after a fruitful collaboration that expedited the introduction of ANG003 into a clinical trial that was just started in individuals with cystic fibrosis.
- In May 2023- Tavanta Therapeutics at Two Renowned Scientific Conferences Released New Preclinical Data for Their Cystic Fibrosis Candidate, TAVT-135.
- In April 2023 - The previously disclosed merger of Vallon Pharmaceuticals, Inc. (now GRI Bio, Inc.) and GRI Bio, Inc. has been completed. The united business will be known as "GRI Bio, Inc." and its primary goal will be to further GRI Bio's cutting-edge NKT cell modulator pipeline for the management of autoimmune, fibrotic, and inflammatory illnesses.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 220 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $7.07 Billion |
| Forecasted Market Value (USD) by 2032 | $15.42 Billion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
Key Players Analysis: Business Overview, Recent Developments, SWOT Analysis, Revenue Analysis
- Vertex Pharmaceuticals
- Abbvie Inc.
- Novartis Ag
- Gilead Sciences
- Viatris INC
- Pfizer
- Astrazeneca
- F. Hoffmann-La Roche Ltd
Drug Class
- Cystic Fibrosis Transmembrane Conductance Regulator (CFTR)
- Bronchodilators
- Mucolytic
- Pancreatic Enzyme Supplement
- Others
Route of Administration
- Oral Drugs
- Inhaled Drugs
Distribution Channel
- Hospitals
- Retail Pharmacies
- Others
Countries
- North America
- United States
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherland
- Turkey
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/i6hgxu
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