Cystic Fibrosis Therapeutics Market Outlook to 2022: Top Manufacturer Analysis, Industry Overview and Forecast Report
21st October 2019 – The global Cystic Fibrosis Therapeutics Market is subject to witness a substantial growth due
to the growing occurrence of cystic fibrosis (CF) and increasing demand of
advanced treatment associated with the disorder. Additionally, increase in the
research & development and introduction of novel products in the market are
anticipated to boost the market growth in the forecast period. Increase in
number of initiatives and schemes carried out by government authorities and
leading industry players to promote early adoption of cystic fibrosis
therapeutics coupled with presence of favorable reimbursement policies are
considered as some of the major factors driving market growth, in the recent
years.
The cystic fibrosis therapeutics market is estimated to grow at a
substantial CAGR in the forecast period, providing numerous opportunities for
market players to invest in research and development in the cystic fibrosis
therapeutics market. As per Cystic Fibrosis Foundation (CPF), the number of
patients suffering from cystic fibrosis disorders due to hereditary factors is
on the rise, thereby driving the demand for highly advanced cystic fibrosis
therapeutics, in the last decade. The recent advancements in the cystic
fibrosis therapeutics and development of innovative techniques are anticipated
to fuel the market growth in the upcoming years.
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Introduction of
enhanced drug CF transmembrane conductance regulator (CF-TCR) enhancer,
bronchodilators medicine, mucolytic medicine, anti-infective enhancer, various
antibiotics, anti-inflammatory medicine, and pancreatic enzyme supplements with
approval form various local and international authorities are estimated to amplify
overall market value of cystic fibrosis therapeutics industry during the
forecast period.
Furthermore,
recent R&D activities in regards to the development of innovative drug
compositions in the pipeline by prominent industry players is considered as one
of the major driving factors for market growth, in the last few years. Growing
number of successful clinical trials is expected to expand consumer base for
cystic fibrosis therapeutics industry with growing influence of drug portfolio.
Increasing adoption of enhanced drugs such as VX-445, PTI-428, QR-010,
AZD-5634, and POL-6014 for cystic fibrosis therapeutics is projected to propel
market demand in the near future.
Growing awareness
and rising per capita income in the developing and developed economies coupled
with increasing presence of various nonprofit organizations such as Cystic
Fibrosis Worldwide and Cystic Fibrosis Foundation are expected to widen market
reach for cystic fibrosis therapeutics market. The organization like Cystic
Fibrosis Worldwide and Cystic Fibrosis Foundation are substantially investing
for development of different types of therapeutics to cure cystic fibrosis
disorders.
The
cystic fibrosis therapeutics market is broadly categorized into four major
types based on the drug class such as pancreatic enzyme supplements, mucolytic,
bronchodilators, and transmembrane conductance regulator (CF-TCR) enhancer. The
cystic fibrosis therapeutics involves maintenance of various lung function
during regulating respiratory disorders and management of airways in mucus,
supervising the nutritional therapy, and controlling the complications.
The CF
transmembrane conductance regulator (CF-TR) modulator is considered as one of
the fastest growing segment in the cystic fibrosis therapeutics industry with
significant revenue generation in the last couple of years. The
cystic fibrosis therapeutics market is divided by region as North America,
Europe, Asia-Pacific, Latin America and Africa. North America has shown major
growth in the recent years owing to the rise in implementation of latest
technologies in the pharmaceutical & medicine industry and existence of
well-established healthcare infrastructure in the region.
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Asia-Pacific region is predicted to hold
major market share with massive growth in forecast period. Countries such as
India, China and Singapore are leading the Asia-Pacific market with growing
awareness associated with the cystic fibrosis disorders & treatment options
among general population, strong economic growth, and significant investment by
leading industry players considering potential growth opportunities in the
region.
The key players in the cystic fibrosis
therapeutics market are AbbVie
Incorporations, F. Hoffmann-La Roche Limited, Gilead Sciences, Inc., Novartis
AG, Vertex Pharmaceuticals Incorporations, AIT (Advanced Inhalation Therapies)
Inc., Alaxia SAS, Teva Pharmaceutical Industries Limited, Merck & Co.,
Alcresta Therapeutics Incorporations, Allergan plc, and AstraZeneca plc.
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