Market Trends of Cystic Fibrosis (CF) Therapeutics Industry
This section covers the major market trends shaping the Cystic Fibrosis (CF) Therapeutics Market according to our research experts:
CFTR Modulators Dominates the Market and is Expected to Continue to Do the Same during the Forecast Period
CFTR modulators are expected to dominate the cystic fibrosis therapeutics market through the forecast period. This can be attributed to new product launch, high commercial availability, and huge demand for these drugs to treat CF are expected to drive the segment. These modulators are designed to correct the malfunctioning protein made by the CFTR gene. For instance, recently launched ORKAMBI lead the way for segmental growth. This drug class directly cures the underlying cause of the disease.
Thus, the CFTR modulators segment is witnessing a shift toward combination therapies that provide enhanced results to patients. Higher availability, positive results, and reimbursement policies by key players for the target disease are supplementing the growth of the segment. Focus on developing new drugs to address the changing needs of the patients, such as TRIKAFTA and KALYDECO, in the treatment poised to create a significant shift in prescription patterns.
North America Represents the Largest Market and Asia-Pacific is Expected to Register Fastest Growth.
North America is at the forefront of growth in the region and is also an important revenue contributor in the global arena. Heightened awareness of disease remittance therapies among patients, rising prevalence of CF, and high public and private healthcare spending are stimulating the growth of the region. The United States has most of the people affected with CF who are of Caucasian descent. Furthermore, initiatives taken by CF Foundation and Cystic Fibrosis Canada are one of the key reasons that can be accounted for its largest share. Moreover, easy access to quality healthcare, favorable reimbursement policies, strong clinical pipeline, and approval of novel drugs are projected to promote revenue growth in North America.
The Asia-Pacific is likely to witness the fastest growth throughout the forecast period. The growing adoption of the urban lifestyle is leading to expanding the base of patients in the region. This, coupled with increasing healthcare spending, is expected to propel the market in APAC. Favorable regulatory policies for biosimilars are estimated to boost demand for the regional market over the forecast period.
