Cystic Fibrosis Market
Cystic Fibrosis (CF) is a genetic disorder that affects the respiratory, digestive, and reproductive systems. CF causes the production of thick, sticky mucus that can clog the airways and block the ducts in the pancreas, leading to lung infections, digestive problems, and other complications.
The Cystic Fibrosis Market is expected to exhibit at 13.5% CAGR to reach USD 12.9 Billion over the forecast period 2023-2030
Increasing investment in the research and development for better drugs and therapies can take the cystic fibrosis market forward. At the same time, the Cystic Fibrosis Foundation (CFF) is spending in millions to aid the healthcare system. In the U.S., CFF has invested USD 425 million for the drug development of this particular disease which in itself is an affirmative step. As a result, a lot of medicines are now waiting in the pipeline for approval from which patients can benefit.
But among the chief detractors, heavy cost of therapy and medicines can pull back the Cystic Fibrosis Market considerably. The pathophysiology process is also complex which requires a deft hand, and that is lacking. These factors can affect the projected Cystic Fibrosis Market rate.
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Segment Analysis
The global cystic fibrosis market can be segmented by treatment method for a comprehensive understanding.
Based on the treatment method, the cystic fibrosis market can be segmented into medication, devices, allergan cystic fibrosis and other treatments. Medication segment commands the maximum share. The 76.4% it has as share is assisting the segment in generating substantial revenue. The segment can also record the fastest growth rate by clocking a 14% CAGR during the forecast period.
Major Key Players:
Prominent Cystic Fibrosis Market Players are Vertex Pharmaceuticals, F. Hoffmann-La Roche, AbbVie, Gilead Sciences, Novartis, Genentech, Pharmaxis, Chiesi Farmaceutici, Forest Laboratories, and others.
Regional Analysis
The global cystic fibrosis market is segmented by region into North America, Europe, Asia Pacific, and the Middle East and Africa.
North America is likely to remain the major regional segment of the global cystic fibrosis market over the forecast period due to the growing medical research sector in the region. The strong presence of the CFF in North America as well as the growing interest in cystic fibrosis research in the region are likely to be the major drivers for the cystic fibrosis market in North America over the forecast period. The North America cystic fibrosis market is expected to reach a value of USD 521 million by 2023. Cystic fibrosis is a relatively rare disease, with around 70,000 people estimated to be suffering from it in 2017. The CFF has played a vital role in the development of the global cystic fibrosis market, as before the initiation of the foundation, research into cystic fibrosis was severely lacking. In 2018, the CFF provided USD 100 million to the Infection Research Initiative, along with funding research into other aspects of cystic fibrosis, such as the inflammation and gastrointestinal problems associated with the disease.
Europe is expected to exhibit the fastest growth in the global cystic fibrosis market, growing at a robust 14.1% CAGR over the forecast period. Europe and North America hold comparable shares in the global cystic fibrosis market and are likely to remain the leading regional parties over the forecast period.
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