Cystic Fibrosis (CF) is a chronic genetic disease that affects the progress of the entire body and can cause severe disabilities and even early death in some cases. Market Research Future (MRFR) has published a research report about the global cystic fibrosis market, which anticipates a great increase in this market at a 13.8% CAGR (Compound Annual Growth Rate) between 2016 and 2022. In terms of value, the market is expected to be worth US $ 1,192.2 mn by the end of the forecast period.
The compelling factors ensuring an enriching growth for the global cystic fibrosis market include the development of new drugs & therapies and financial support from the Cystic Fibrosis Foundation (CFF) for the research and development of cystic fibrosis drugs. However, the high costs of many cystic fibrosis treatment procedures can dampen the market growth.
The key players in the global cystic fibrosis market include AbbVie (USA), Gilead Sciences (USA), F. Hoffmann-La Roche (Switzerland), Forest Laboratories (USA), Genentech (USA), Novartis (Switzerland), Pharmaxis (Australia), and Vertex Pharmaceuticals (USA).
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Latest Industry News:
- In an innovative partnership, NuvoAir and London’s Royal Brompton Hospital are helping cystic fibrosis patients to conduct tests at home. With the Air Next simple-to-use spirometer, patients can conduct tests on their own, with an app called Aria, to measure the state of the patient’s lungs and predict worsening. Aria has been developed by Nuvo Air. Patients can analyze the data on the app itself and can share them with the health care team. 4 DEC 2018
- According to a study published in the New England Journal of Medicine, cystic fibrosis lung function can be improved with triple therapy on the basis of chloride sweat concentrations where VX-659 is added to ivacaftor and tezacaftor. 9 DEC 2018
The global cystic fibrosis market has been segmented on the basis of diagnostic test, drug type, treatment, and lastly, region. Based on the diagnostic test, this market has been segmented into chest X-Ray, computed tomography (CT) scan, immunoreactive trypsinogen (IRT) test, pulmonary function test, sputum test, and sweat chloride test. By drug type, the market has been segmented into biologics and small molecules. The treatment-based segmentation segments the market into medical therapy, surgical treatment, and others.
The regional segmentation of the global cystic fibrosis market segments the market into the following regional markets: North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America is the largest regional market due to the availability of advanced medical facilities, large patient population, overall technological advancement, presence of strong economic conditions, the presence of many key market players, and lastly, the availability of government funding for research and development in the medical sector. The strongest economies in this region that can be important markets are the USA and Canada.
Europe is the second largest regional market, as it has the second highest patient population. Advanced medical facilities are available in most European countries. In this region, the strongest economies that can be the perfect markets are France, Germany, and the UK.
The Asia Pacific is a smaller market for cystic fibrosis than North America and Europe due to limited information, leading to the majority of cystic fibrosis cases going undiagnosed. Due to limited healthcare facilities, the market is limited in the region. Countries that have the potential to become lucrative markets by improving their healthcare facilities are China, India, and Japan. China and Japan have the lowest population of cystic fibrosis patients.
The MEA region has the smallest market share due to the presence of poor countries, lack of awareness, lack of education, low standard of medical facilities, lack of healthcare facilities, and a majority of governments not considering healthcare a priority.
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