Cystic Fibrosis CF Therapeutics Market Size, Share, And Growth Rate Analysis 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s cystic fibrosis CF therapeutics market report forecasts the cystic fibrosis CF therapeutics market size to grow to $10.11 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.
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Cystic Fibrosis CF Therapeutics Market Size Forecast
The global cystic fibrosis CF therapeutics market is expected to grow from $5.82 billion in 2022 to $6.54 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cystic fibrosis (CF) therapeutics market size is expected to reach $10.11 billion in 2027 at a CAGR of 11.4%.
North America held the largest cystic fibrosis CF therapeutics market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Cystic Fibrosis CF Therapeutics Market Driver – Increase In The Number Of Patients Suffering From Cystic Fibrosis
According to a report shared by The Cystic Fibrosis (CF) Foundation, a non-profit organisation based in the United States, there has been an increase in the number of people diagnosed with cystic fibrosis in July 2022; in 2022, cystic fibrosis affects nearly 40,000 children and adults in the United States, and over 105,000 people worldwide have been diagnosed. As a result, an increase in the number of cystic fibrosis (CF) patients is driving the expansion of the cystic fibrosis (CF) therapies market.
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Key Cystic Fibrosis CF Therapeutics Market Trend – Product Innovations
Major companies in the cystic fibrosis (CF) therapeutics sector are focused on creating innovative products to acquire a market edge. For example, in March 2021, Chiesi USA, a specialised pharmaceutical firm based in the United States, developed Bronchitol (mannitol) powder, the ‘First and Only’ inhalation powder for cystic fibrosis patients. It is the only dry-powder inhaled mucoactive agent that is small, covert, and portable, does not require refrigeration, and does not require frequent cleaning.
Cystic Fibrosis CF Therapeutics Market Segment
1) By Drug Class: Pancreatic Enzyme Supplements, Mucolytic, Bronchodilators, CFTR Modulators
2) By Route Of Administration: Oral, Inhaled
3) By Treatment Method: Medication, Devices
Cystic Fibrosis CF Therapeutics Market Major Players and Strategies
Major players in the cystic fibrosis CF therapeutics market are Teva Pharmaceutical Industries Ltd., Gilead Sciences, Inc., Mylan N.V, Novartis AG, F. Hoffmann-La Roche AG, AbbVie Inc., Vertex Pharmaceuticals Incorporated, GlaxoSmithKline PLC, Allergan PLC, AbbVie, Pharmaxis Ltd., Johnson & Johnson, Mylan N.V., Chiesi Farmaceutici SpA, PTC Therapeutics, and Genentech Inc.
Roche, a Swiss multinational healthcare business, bought Enterprise Therapeutics’ cystic fibrosis therapy in October 2020 for an unknown sum. Roche will receive ETD002, the lone Enterprise product now in clinical trials, as part of this transaction. The portfolio’s therapy possibilities for cystic fibrosis are the primary focus, but there is also potential for use in other severe respiratory illnesses characterised by excessive mucus production. Enterprise medicines is a drug discovery firm established in the United Kingdom that specialises on cystic fibrosis (CF) medicines.
The Cystic Fibrosis CF Therapeutics Global Market Report 2023 covers regional data on cystic fibrosis CF therapeutics market size, cystic fibrosis CF therapeutics market trends and drivers, opportunities, strategies, and cystic fibrosis CF therapeutics market competitor analysis. The countries covered in the cystic fibrosis CF therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Cystic fibrosis (CF) therapies are drugs that thin and make coughing up lung mucus easier. It is a hereditary condition that damages the lungs, digestive system, and other organs in the body severely.
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