Market Research Future Introduces the “Global Cystic Fibrosis Market” Research Report. Reports Provides the classifications and industry Structure with Top Industry Players, Recent Trends and Industry Dynamics up to 2023.
Cystic Fibrosis Market – Scenario
According to a recent study report published by the Market Research Future analysts, the global cystic fibrosis market is growing at a double digit CAGR. The major growth in the cystic fibrosis market was observed with the introduction of Kalydeco drug by Vertex pharmaceutical in 2012. There has been constant development of new drugs and therapies for treating cystic fibrosis. Cystic fibrosis foundation (CFF) has always been in support of the companies involved in the research and development of the cystic fibrosis drugs. The financial support from CFF is influential in the growth of the cystic fibrosis market worldwide. It is estimated that cystic fibrosis market is expected to grow at a CAGR of 13.5% during the forecast period 2016-2022.
That being said, there are few hurdles as well in growth of this market. Currently there are approximately 1900 identified CFTR mutations that are responsible for the development of the disease condition. Many are yet to be identified.
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At present, treatments are available for nearly half the mutations. CF being the rare disease, and due to the limited information available, the extensive research is required. The research and development cost for the cystic fibrosis is very high leading to the massive prices of the end products. High cost of the drugs and treatments is one of the factors that hinder the growth of the cystic fibrosis market.
Global Cystic Fibrosis Market – Competitive Analysis:
The global market for cystic fibrosis is dominated by American pharmaceutical company Vertex Pharmaceuticals Incorporated. With two FDA approved CFTR modulator drugs Kalydeco & Orkambi, Vertex Pharmaceuticals secured a top spot with the market share of 46% in the global cystic fibrosis market. Kalydeco and Orkambi are the drugs that affect the disease at a genetic level where as all the other drugs from different companies deal with the disease symptoms and associated problems. Currently there is no competition for the Kalydeco and Orkambi. Moreover the Vertex is on the verge of developing their next and better drug “triple combo” which is expected to cover 90% of the total identified CFTR mutations. This development is the strong reason for Vertex pharmaceutical to be on top of the table in the near future as well.
Apart from the Vertex, there are some companies which are manufacturing different drugs for the treatment for the cystic fibrosis. These companies have drug products such as Roche- Pulmozyme, Abbvie- Creon, Gilead- Cayston, Novartis- TOBI Podhaler, Allergan- Zenpep, Chiesi- Pertzye, and few others. As these products help patients in managing the cystic fibrosis symptoms and are consumed daily, these companies have fair amount of share in the market. Additionally, there are other companies which such as Pharmaxis, PTC therapeutics, Janssen Pharmaceuticals, Inc which are involved in the development of the treatments for the symptoms of cystic fibrosis.
The global cystic fibrosis market is segmented on the basis of treatment method. Treatment method is further segmented into medication, devices, and other treatments.
Global Cystic Fibrosis Market – Regional Analysis;
Cystic fibrosis can occur in both genders as well as in all ethnic groups and races. However the incidences of cystic fibrosis varies across the globe. Cystic fibrosis is more common among the Caucasians. Hence the disease is more prevalent in North America, Europe, and Australia. However cystic fibrosis can also affect Latinos, American Indians, African, and Middle Eastern population.
North America is one of the majorly affected region by the deadly disease cystic fibrosis. The United States is among the countries with highest incidence rates of cystic fibrosis. According to cystic fibrosis foundation, more than 30,000 patients are living with cystic fibrosis in the United States. Nearly, 1000 new cystic fibrosis cases are diagnosed each year. According to CFF’s national patient registry, the median age of the person with cystic fibrosis is currently 33.4 years. The average life expectancy of the CF patients has increased significantly as compared to the patients 30 years back.
European region is also largely affected by cystic fibrosis. According to European Cystic Fibrosis Society (ECFS), considering the 26 major countries in Europe, more than 35,500 people were suffering from cystic fibrosis in 2014. Among the CF patients in Europe, 51.8% were adults with age 18 years or more and 48.2% were less than 18 years old. Countries like United Kingdom, Ireland, Romania, and Bulgaria have the high birth prevalence of CF.
The prevalence of cystic fibrosis is seen to be very low in the Asian region. There is limited information available about CF in Asia, it is likely that the disease is highly underdiagnosed in this region including the Indian subcontinent. It is due to medical community’s lack of knowledge about CF and poor access to the medical and healthcare facilities for cystic fibrosis patients.
The incidence of cystic fibrosis in Middle East varies according to the ethnic background. However, the CF prevalence in Middle East is low as compared to the North American and European region. There are no accurate CF prevalence number for the Northern African countries, but it is expected to be low due to the racial factor and no European genetic mixture.
Major TOC of Cystic Fibrosis Market Research Report- Global Forecast till 2022
2 RESEARCH METHODOLOGY
3 MARKET DYNAMICS
4 MARKET FACTOR ANALYSIS
5 GLOBAL CYSTIC FIBROSIS MARKET, BY DIAGNOSTIC TEST
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