Global Cystic Fibrosis Therapeutics Market – By Drug Class, By Route of Administration, and By Region - 2029
The global cystic fibrosis therapeutics market accounted for US$ 5.3 billion in 2019 and is estimated to be US$ 25.6 billion by 2029 and is anticipated to register a CAGR of 17.2%
The report "Global Cystic Fibrosis Therapeutics Market, By Drug Class (Pancreatic Enzyme Supplements, Mucolytics, Bronchodilators, and CFTR Modulators), By Route of Administration (Oral drugs and Inhaled drugs), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
- In Octber 2019, AbbVie, a research-based global biopharmaceutical company, and the Cystic Fibrosis Foundation announced a strategic collaboration in which AbbVie will develop a cystic fibrosis transmembrane conductance regulator (CFTR) potentiator compound licensed from the Foundation. Under the terms of the agreement, AbbVie will advance the potentiator into clinical development for potential use in combination treatments for cystic fibrosis (CF).
- In January 2020, AbbVie a research-based global biopharmaceutical company, and Allergan, a leading global pharmaceutical company, announced that Allergan has entered into definitive agreements to divest brazikumab (IL-23 inhibitor) and Zenpep (pancrelipase). These agreements are in conjunction with the ongoing regulatory approval process for AbbVie's acquisition of Allergan.
Growing prevalence of Cystic Fibrosis (CF)
According to the data published by the Cystic Fibrosis Foundation, the occurrence of these hereditary disorders is growing constantly. In 2015, in the U.S., there were 28,983 patients as compared to 26,366 patients in 2010. Swelling year-on-year growth in the number of patient’s additional results in the growing demand for efficient and effective CF therapeutics. Some of the commercially available approved drug class are Cystic Fibrosis Transmembrane Conductance Regulator (CFTR) modulators, mucolytic drugs, bronchodilators drugs, anti-infective, anti-inflammatory drugs, antibiotics (oral, inhaled, or parental feeding formulae), and pancreatic enzyme supplements.
Growth in the number of initiatives concerning to development of NASH drugs
Favourable initiatives taken by regional and national nonprofit organizations is one of the key factors boosting the growth of the target market. These initiatives provide funding to CF patients. These organizations help in research & development activities of these therapeutics and improve the patient’s quality of life. For example, the North American Cystic Fibrosis Conference (NACFC) was formed in 1986 to offer a collaborative and educational forum to CF professionals to share improvements in R&D related to CF therapeutics.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cystic Fibrosis Therapeutics Market”, By Drug Class (Pancreatic Enzyme Supplements, Mucolytics, Bronchodilators, and CFTR Modulators), By Route of Administration (Oral drugs and Inhaled drugs), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global cystic fibrosis therapeutics market accounted for US$ 5.3 billion in 2019 and is estimated to be US$ 25.6 billion by 2029 and is anticipated to register a CAGR of 17.2%. The market report has been segmented on the basis of drug class, route of administration, and region.
- By drug class, CFTR modulators estimated for the highest revenue due to the launch of new drug Orkambi. This drug is accountable for improving the function of defective protein caused by the CF gene. This drug class directly cures the primary cause of the disease. Additionally, CFTR modulators are projected to grow with a lucrative growth rate in the upcoming years.
- By route of administration, oral route estimated for the highest share of closely 63.7% in 2019 due to the benefits associated with its administration such as ease and convenience of consumption without the help of a healthcare professional. Increasing awareness in developing economies about the benefits of oral drugs, which include pancreatic enzyme supplements and CFTR modulators is one of the crucial factors expected to fuel the demand for these drugs.
- By region, North America estimated for the highest revenue share in 2019, owing to the growing number of patients suffering from cystic fibrosis. Additionally, initiatives taken by CF Foundation and Cystic Fibrosis Canada are one of the vital reasons that can be estimated for its maximum share. The Asia Pacific is projected to be the fastest-growing segment with a profitable growth rate. Moreover, growing awareness about CF disorders & treatment options is anticipated to fuel this segment throughout the forecast period.
To know the upcoming trends and insights prevalent in this market, click the link below:
The prominent player operating in the global cystic fibrosis therapeutics market includes AbbVie Inc., Hoffmann-La Roche Ltd., Allergan, Gilead Sciences, Inc., Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Novartis AG, Alcresta Therapeutics Inc., AstraZeneca Plc., and Alaxia.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
About Prophecy Market Insights
Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
To know more
Prophecy Market Insights