Market Research Report
Cystic Fibrosis Therapeutics Market Size By Treatment Method, By Distribution Channel, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Cystic Fibrosis Therapeutics Market Size By Treatment Method, By Distribution Channel, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
Published: September 6, 2021
Global Market Insights Inc.
Content info: 100 Pages
Delivery time: 2-3 business days
The cystic fibrosis therapeutics market is projected to observe substantial growth by 2027 owing to surging focus on the discovery and development of novel treatment therapies around the world.
Cystic fibrosis (CF) is a genetic condition that makes patients susceptible to recurrent and chronic lung infections. In patients suffering from cystic fibrosis, the CFTR protein becomes dysfunctional as a result of mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene. This condition causes glands to produce mucus and sweat that is sticky and thick, thereby clogging airways and damaging organs.
The ongoing COVID-19 outbreak has necessitated the development of innovative therapies for the treatment of various types of lung infections and diseases. As a result, multiple scientific investigations undertaken by medical laboratories have facilitated market expansion in key regions across the globe.
Notably, prominent industry participants are employing lucrative business tactics to monetize favorable market trends by introducing new products, building strategic partnerships, and acquisitions, which have enhanced overall market dynamics. For instance, in March 2021, Pharmaxis Ltd., an Australian pharmaceutical company, announced that its cystic fibrosis treatment, Bronchitol, had been launched in the U.S. by Chiesi USA, Ltd., a leading pharmaceutical firm. Pharmaxis received a total payment of USD 10 million for the stock of Bronchitol that is being commercialized in the United States by Chiesi.
In another instance, in July 2021, biopharmaceutical giant AstraZeneca completed the acquisition of Alexion Pharmaceuticals, Inc., a global biopharmaceutical company. Through the acquisition, AstraZeneca improved scientific discoveries and developed suitable medications for people with rare diseases using Alexion's strong pipeline and innovative complement-biology platform.
The cystic fibrosis therapeutics market has been segmented on the basis of distribution channel, treatment method, and region. In terms of treatment method, the market has further been categorized into devices, medications, and others.
The devices sub-segment held a market share of around 9% in 2020 and is expected to grow at a steady pace over 2021-2027. Soaring demand for devices used to cure cystic fibrosis is likely to drive segmental growth in the forthcoming years.
With respect to distribution channel, the cystic fibrosis therapeutics market has been bifurcated into retail pharmacies, hospitals, and others. In 2020, the retail pharmacies sub-segment accounted for nearly 35% market share and is slated to observe optimistic growth over the forecast timeline. Mounting prevalence of retail pharmacies in developed economies is slated to bolster segmental adoption over the following years.
From the regional point of view, the North America cystic fibrosis therapeutics market attained a valuation of more than USD 6 billion in 2020 and is estimated to amass considerable gains by the end of 2027. Growing number of CF patients in the region is set to drive market expansion through the review period.