Global Cystic Fibrosis Therapeutics Market to Reach US$ 14.7 Billion by 2032, Propelled by the Increasing Number of Individuals Diagnosed with Cystic Fibrosis

The latest report by IMARC, titled “Cystic Fibrosis Therapeutics Market Report by Drug Class (Pancreatic Enzyme Supplements, Mucolytics, Bronchodilators, CFTR Modulators, Antibiotics, and Others), Drug Molecule Type (Small Molecule Drugs, Biologics), Route of Administration (Oral Drugs, Inhaled Drugs), End-User (Hospitals, Clinics, and Others), and Region 2024-2032”, finds that the global cystic fibrosis therapeutics market size reached US$ 7.2 Billion in 2023. Cystic fibrosis therapeutics refers to the range of medical treatments and therapies used to manage the symptoms and complications of Cystic Fibrosis, which is a genetic disorder that affects various organs in the body, primarily the lungs and digestive system. Cystic fibrosis (CF) is caused by a mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene, which leads to the production of thick, sticky mucus in the lungs, pancreas, and other organs. The build-up of mucus can cause chronic lung infections, breathing difficulties, and digestive problems, among other complications. CF therapeutics may include medications such as antibiotics to prevent or treat infections, bronchodilators to open the airways, and mucolytics to help loosen and clear the thick mucus. Other therapies may include physical therapy and exercise to help clear mucus from the lungs, airway clearance techniques, and oxygen therapy. In recent years, cystic fibrosis therapeutics have gained traction as they help in improving lung function and reducing the frequency of pulmonary exacerbations, thus enhancing the overall quality of life for people with CF.

Global Cystic Fibrosis Therapeutics Market Trends:

One of the primary factors driving the market is the increasing number of individuals diagnosed with cystic fibrosis. Additionally, the increasing healthcare expenditure globally, on account of the rising aging population, increasing chronic disease burden and growing access to healthcare services, is creating a positive market outlook. Other than this, the rapid development of CFTR modulator therapies, such as ivacaftor, lumacaftor/ivacaftor, and tezacaftor/ivacaftor is vastly improving the treatment outcomes for patients, thus positively influencing the market growth. Besides this, various regulatory bodies, such as the United States Food and Drug Administration (USFDA) and the European Medicines Agency (EMA), are streamlining the approval procedures for CF therapeutics, thus making it easier for pharmaceutical companies to introduce new drugs into the market. In line with this, extensive investments in research and development (R&D) of new CT therapeutics, including gene therapies and next-generation CTFR modulators, are propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 14.7 Billion by 2032, expanding at a CAGR of 7.9% during the forecast period (2024-2032).

Market Summary:

• On the basis of the drug class, the market has been divided into pancreatic enzyme supplements, mucolytics, bronchodilators, CFTR modulators, antibiotics, and others.
• Based on the drug molecule type, the market has been segmented into small molecule drugs and biologics.
• On the basis of the route of administration, the market has been bifurcated into oral and inhaled drugs.
• Based on the end user, the market has been categorized into hospitals, clinics, and others.
• Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom. Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
• The competitive landscape of the market has also been analyzed, with some of the key players being AbbVie Inc., Alaxia, Alcresta Therapeutics Inc., Allergan, AstraZeneca, F. Hoffmann-La Roche Ltd., Gilead Sciences Inc., Merck & Co. Inc., Novartis AG, Teva Pharmaceutical Industries Ltd. and Vertex Pharmaceuticals Inc.

Report Coverage:

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