The global cystic fibrosis therapeutics market is expected to reach USD 13.9 billion by 2025, according to a new report by Grand View Research, Inc. The rising prevalence of Cystic Fibrosis (CF) globally, research & development activities undertaken by key players, and favorable initiatives undertaken by nonprofit organizations are expected to boost the market over the forecast period.
The rising prevalence of CF indicates the rising demand for treatment alternatives, thereby uplifting the market. The key players operating in this market in collaboration with nonprofit organizations focus on the development of novel therapeutics for treatment. Some of the drugs that are under clinical studies are VX-445 + tezacaftor + ivacaftor, PTI-428, QR-010, AZD5634, and POL6014.
Favorable initiatives taken by regional and national nonprofit organizations is one of the key factors propelling growth. These initiatives ensure support to CF patients. These organizations aid in research & development activities of these therapeutics and help improve the quality of life of these patients. For instance, North American Cystic Fibrosis Conference (NACFC) was formed in 1986 to provide a collaborative and educational forum to CF professionals to share advances in R&D related to CF therapeutics.
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Further key findings from the report suggest:
The global CF therapeutics market size was estimated at USD 3,560.5 million in 2016 and is expected to grow at a CAGR of 16.7% from 2017 to 2025
The CFTR modulator segment emerged as the largest segment in 2016 and the same segment is anticipated to witness fastest growth over the next 8 years owing to the approval of CFTR modulator, Orkambi and the presence of various investigational compounds under the pipeline.
Oral route of administration emerged as the largest segment with revenue of USD 2,266.4 million due to the ease of administration and convenience
North America accounted for the largest market share owing to the presence of Caucasian descents in this region. Improved healthcare infrastructure, reimbursements, and initiatives undertaken by the nonprofit organizations is expected to propel the market over forecast period,
The key players include AbbVie Inc., F. Hoffmann-La Roche Ltd.; Gilead, Novartis AG, Vertex Pharmaceuticals Inc., AIT (Advanced Inhalation Therapies), Alaxia, Teva Pharmaceutical Industries Ltd, Merck & Co. Inc., Alcresta Therapeutics Inc., Allergan, and AstraZeneca
Grand View Research has segmented the cystic fibrosis therapeutics market on the basis of drug class, route of administration and region:
Cystic Fibrosis Therapeutics Drug Class Outlook (Revenue, USD Million, 2014 - 2025)
Pancreatic enzyme supplements
Cystic Fibrosis Therapeutics Route of Administration Outlook (Revenue, USD Million, 2014 - 2025)
Cystic Fibrosis Therapeutics Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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