Report ID: SQMIG35I2224
Report ID:
SQMIG35I2224 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
62 |
Figures:
75
Cystic Fibrosis Therapeutics Market size was valued at USD 6.02 Billion in 2023 and is poised to grow from USD 6.83 Billion in 2024 to USD 18.81 Billion by 2032, growing at a CAGR of 13.50% during the forecast period (2025-2032).
One of the important factors boosting the demand for cystic fibrosis treatments during the forecast period is the rising prevalence of cystic fibrosis (CF) combined with the rising treatment rate. Furthermore, an increase in R&D financing by both private and governmental organizations, an increase in the number of projects performed by nonprofit organizations, and the availability of favorable reimbursement policies represent a few of the critical aspects projected to drive the marketplace in years to come.
Increased year-on-year patient growth results in increased demand for effective and efficient CF therapies. Cystic fibrosis Transmembrane Conductivity Regulator (CFTR) modulators, bronchodilators, mucolytic medications, anti-infective, antibiotics (oral, breathed in, or parents feeding formulae), anti-inflammatory medications, and pancreatic enzyme supplements are just a few of the readily accessible approved drug classes.
One of the critical aspects projected to drive market expansion is the increasing number of medication compositions in the pipelines of the leading players. Furthermore, a growing number of studies conducted to extend its target client base with its existing therapeutic portfolio is one of the market's drivers. Increasing R&D activities are projected to drive market expansion.
The presence of various charitable organizations such as CF Worldwide, Cystic Fibrosis Organization, Cystic Fibrosis Canada as well, South African Cystic Fibrosis confidence, and South African Cystic Fibrosis Organization, that are consistently involved in CF-related activities, is another important factor that can account for promoting growth of the cystic fibrosis therapeutics market. These organizations are investing large sums of money to find various therapies for CF and to assist major actors' research and development operations.
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Report ID: SQMIG35I2224