Radiant InsightsThe factors that propel the growth of the Cystic Fibrosis Therapeutics Market include rise in geriatric population and rising consciousness about the cystic fibrosis therapy.
Global Cystic Fibrosis Therapeutics Market is estimated to grow at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. Cystic fibrosis (CF) is a hereditary syndrome. Patients with CF have hereditary two replicas of the faulty CF gene, one copy each from individual parent.
The factors that propel the growth of the Cystic Fibrosis Therapeutics Market include rise in geriatric population and rising consciousness about the cystic fibrosis therapy. Furthermore, technological advancements, R&D initiatives, better-quality healthcare services, and increase in administration support are anticipated to fuel industry demand. On the other hand, factors that may hamper the growth of the market include introduction of generic medicines.
Cystic Fibrosis Therapeutics Market could be explored by drug class, route of administration, and geography. Cystic Fibrosis Therapeutics Market may be explored by drug class as CFTR modulators, Pancreatic enzyme supplements, Bronchodilators, and Mucolytics. The “CFTR Modulators” segment led the Cystic Fibrosis Therapeutics Market in 2016 and is anticipated to maintain its dominance by 2022 due to increasing acceptance.
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The Cystic Fibrosis Therapeutics Market could be explored based on route of administration as inhaled drugs, and Oral drugs. The “Oral drugs” segment led the Cystic Fibrosis Therapeutics Market in 2016 and is anticipated to maintain its dominance by 2022 due to the benefits related to its administration such as ease of consumption.
Cystic Fibrosis Therapeutics Market is categorized based on geography into North America, Latin America, Japan, Middle East and Africa, Western Europe, Asia Pacific, and Eastern Europe. North America accounted for the major share of the Cystic Fibrosis Therapeutics Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include the occurrence of Caucasian descents in this area. Enhanced healthcare reimbursements, infrastructure, and enterprises accepted by the nonprofit administrations are anticipated to drive the market in the forthcoming period.
Some of the key players that fuel the growth of the Cystic Fibrosis Therapeutics Market comprise F. Hoffmann-La Roche Ltd., Alcresta Therapeutics Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd, Novartis AG, Gilead, AIT (Advanced Inhalation Therapies), Vertex Pharmaceuticals Inc., Alania, Merck & Co. Inc., AstraZeneca, and Allergan. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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The Global Cystic Fibrosis Therapeutics industry has reported a tremendous growth in the recent years, and is presenting ample opportunities to the industry players. With improving life expectancy and rising awareness, the global cystic fibrosis therapeutics market is poised to scale newer acmes. Also, there lies enormous opportunity for industry participants to tap the fast growing market, which would garner huge revenue on the back of rising strategic consolidations and commercialization of the new drugs targeting the CFTR gene or protein.
The latest research by RNCOS titled, ""Global Cystic Fibrosis Therapeutics Market Outlook 2022”, unfolds the market dynamics of the cystic fibrosis therapeutics market. According to this new research report, the market for cystic fibrosis therapeutics was valued at US$ 1.94 Billion in 2016.
The report showcases the segmentation of cystic fibrosis therapeutics market on the basis of the pharmacological class, mutation class, drug molecule type, and geographical penetration. It also provides an insight on the current market scenario, as well as forecasts of the aforementioned segments till 2022. The report provides an in-depth analysis of all the major segments, taking into account the major developments taking place at global level in the respective segments that will further boost the growth of cystic fibrosis therapeutics market.
Based on pharmacological class, the report broadly categorizes cystic fibrosis therapeutics market into Cystic Fibrosis Transmembrane Conductance Regulator (CFTR) Modulators, Mucolytic agents, Pancreatic Enzymes products, Antibiotics, and Other therapies. CFTR modulators emerged as the major revenue earners of the industry, holding the largest share. This large share of the market is attributed to recent market approvals of Kalydeco (ivacaftor) and Orkambi (lumacaftor and ivacaftor) for the treatment of patients with CF and robust pipeline.
Based on CF mutation class, the cystic fibrosis therapeutics market is further categorized into commercialized and non-commercialized mutation class specific therapies. CFTR mutation Class II accounted for largest share in the total cystic fibrosis therapeutics market in 2016.
Based on drug molecule type, the cystic fibrosis therapeutics market is further categorized into small molecule and biologic. The small molecule segment accounted for largest share in the total cystic fibrosis therapeutics market in 2016.
Additionally, the report covers the geographic analysis of the global cystic fibrosis therapeutics market by segmenting into three major geographic regions - North America, Europe, and Asia Pacific. North America is the largest market for cystic fibrosis. This high share is attributed to increasing awareness in the market, coupled with growing research initiatives. However, the European market is poised to witness the highest growth owing to increasing focus of players in this region.
Besides, the report covers the profiles of key players like Genentech, Inc. (A Member of the Roche Group), Novartis, Vertex Pharmaceuticals Incorporated, Abbott Laboratories, Gilead Sciences, Inc., Allergan plc, etc. with the key financials, providing a comprehensive outlook of global cystic fibrosis therapeutics industry. In addition, the report elucidates key developments of players related to cystic fibrosis industry. Overall, the report provides all the pre-requisite information for clients looking to venture in this industry, and facilitate them to formulate schemes while going for an investment/partnership in the industry.
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