Cystic Fibrosis Market Outlook 2020 to 2025: Information by Treatment Method (Medication, Devices, Others) and Region (North America, Europe, Asia-Pacific and the Middle East & Africa) – Forecast – Size, Share, Demand, Comprehensive Analysis and Regional Trends
Cystic Fibrosis Market Overview:
Cystic fibrosis is a genetic disorder that commonly affects the lungs and also the other secretory glands such as pancreas, liver, kidneys and intestine. As per the report that has been published by Market Research future (MRFR), the global cystic fibrosis market is anticipated to expand significantly at a CAGR of 13.5% during the forecast period of 2016-2022.
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Cystic fibrosis is a genetic disease caused by mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene, resulting in the CFTR protein not functioning properly. This results in inadequate retention of water near the cell surface, which makes the mucus in the human body thick and sticky. Cystic fibrosis presents as a series of lung infections making it progressively harder for the patient to breathe. The mucus accumulates in the lungs and can also trap pathogens and other foreign bodies, which can lead to inflammation, respiratory failure, and other problems.
The growing support from the Cystic Fibrosis Foundation (CFF) to research efforts is likely to be a major driver for the global cystic fibrosis market over the forecast period. CFF has invested more than USD 400 million in research efforts into finding out more about cystic fibrosis and is likely to remain a powerful driver for the cystic fibrosis market over the forecast period. On the other hand, the cystic fibrosis market is hindered by the high costs of the drugs currently available in the market.
Cystic Fibrosis Market Segmentation:
On the basis of treatment method, the global cystic fibrosis market is segmented into medication, devices, and other treatments.
The medication treatment segment accounted for a dominant 76.4% of the global cystic fibrosis market in 2016 and is likely to exhibit the highest 14% CAGR over the forecast period. Despite the high share of the medication segment, the global cystic fibrosis market’s growth prospects are hindered by the high costs of the medication available in the market, as this prices out several consumer demographics, particularly in emerging, high-volume markets such as Asia Pacific. The medication segment accounted for USD 2,802.7 million in 2016.
Cystic Fibrosis Market Regional Analysis:
The global cystic fibrosis market is geographically segmented into North America, Europe, Asia Pacific and the Middle East and Africa. The North America region is dominating the global cystic fibrosis market owing to the high prevalence of cystic fibrosis in this region.
Increasing incidences of cystic fibrosis and rise in demand for proper treatment are driving the cystic fibrosis market in the Europe region. The Asia Pacific region is projecting steady growth in the global cystic fibrosis market owing to the low prevalence of this disease in this region.
The Middle East and Africa region accounts for the least share in the global cystic fibrosis market owing to the lack of awareness and poor healthcare facilities in the underdeveloped area of this region.
Cystic Fibrosis Market Competitive Analysis:
Leading players in the global cystic fibrosis market include
- Vertex Pharmaceuticals
- AbbVie
- Novartis
- Pharmaxis
- Forest Laboratories
- Chiesi Farmaceutici
- Genentech
- Gilead Sciences
- F. Hoffman-La Roche
Industry Updates:
In 2019, the U.K. NHS presented an offer to Vertex for its cystic fibrosis drug Orkambi. The first offer of more than GBP 500 million was rejected by Vertex, with more talks planned in March 2019.
Intended Audience
- Medical device manufacturers and distributors
- Government research organizations
- Hospitals and clinics
- Regulatory agencies
- Pharmaceutical companies
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