Cystic Fibrosis Market Size To Expand at a Notable CAGR Of 13.5% During 2023-2030

August 2022, Market Research Future has published a Report on the Global Cystic Fibrosis Market.

Cystic Fibrosis Market Highlights

The cystic fibrosis market is witnessing exponential growth as the investment in the field for further drug development is increasing. Cystic fibrosis is a genetic disease that impacts the entire body turning on disability and causing death at an early age in many cases. It is mainly caused by mutations in the gene encoded as cystic fibrosis transmembrane conductance regulator (CFTR) protein. The cure involves draining of the mucus out of the body. The thick layer of sedimented mucus in the lungs gets cleared in the process for a further healthier living. 

The global Cystic Fibrosis Market is expected to be valued at USD 12.9 billion by 2030, growing at an 13.50% CAGR during forecast 2023-2030

The report further encompasses segmental analysis, studies factors that can have far-reaching impacts, and introduces expert opinions to provide a comprehensive understanding of the market.

Increasing investment in the research and development for better drugs and therapies can take the cystic fibrosis market forward. At the same time, the Cystic Fibrosis Foundation (CFF) is spending in millions to aid the healthcare system. In the U.S., CFF has invested USD 425 million for the drug development of this particular disease which in itself is an affirmative step. As a result, a lot of medicines are now waiting in the pipeline for approval from which patients can benefit.

But among the chief detractors, heavy cost of therapy and medicines can pull back the cystic fibrosis market growth considerably. The pathophysiology process is also complex which requires a deft hand, and that is lacking. These factors can affect the projected cystic fibrosis market growth rate.

Segmentation Analysis:

The global cystic fibrosis market can be segmented by treatment method for a comprehensive understanding. 

Based on the treatment method, the cystic fibrosis market can be segmented into medication, devices, and other treatments. Medication segment commands the maximum share. The 76.4% it has as share is assisting the segment in generating substantial revenue. The segment can also record the fastest growth rate by clocking a 14% CAGR during the forecast period.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Cystic Fibrosis Market Research Report

Regional Analysis:

Region-specific cystic fibrosis market can be segmented into North America, Asia Pacific, Europe, and Rest-of-the-World (RoW).

North America is leading the market with substantial market revenue. At present, the region is predicted to command USD 531 million by 2022. The region’s superior technology and infrastructure are amply backing the growth of the market.

Europe, on the other hand, is the fastest growing market. It has the similar structural benefit and government support like that of North America which are driving the market ahead. The regional market can achieve an astounding 14.1% CAGR during the forecast period.

The APAC market is showing significant progress. However, reported cases regarding the disease is rare. China and Japan are countries where the disease is extremely rare. But the MEA market can only contribute a meager sum as countries here are mostly very slow in developing their economy and healthcare infrastructure.

Competitive Landscape:

Prominent players in this cystic fibrosis market are Vertex Pharmaceuticals, F. Hoffmann-La Roche, AbbVie, Gilead Sciences, Novartis, Genentech, Pharmaxis, Chiesi Farmaceutici, Forest Laboratories, and others. 

In 2018, the Cambridge University opened the door of Cystic Fibrosis Innovation Hub that will do exciting researches regarding treatments and countermeasures for the disease. It has already received funding of USD 7million. The department will also continue the partnership with Wellcome Trust Sanger Institute.

In 2018, Boehringer Ingelheim, the UK Cystic Fibrosis Gene Therapy Consortium (GTC) that includes the Imperial College London, the Universities of Oxford and Edinburgh, Imperial Innovations, and Oxford BioMedica (OXB) announced their plan to launch a global collaboration to find out therapies for cystic fibrosis patients.