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The market growth has been aided by an increase in the number of cystic fibrosis patients worldwide. Cystic fibrosis pharmacotherapy has resulted in a number of advancements in the treatment of this ailment, which is positively impacting the market growth.
Cystic fibrosis treatment market growth is expected to be driven by the rise in non-profit initiatives, increase in government-backed legislation, and increases in research and development funding. Researchers are expected to increase their investment in research and development activities in order to fuel market growth. There are a number of drugs in development, including Symdeko, VX-561, ELX-02, and ABBV-3067.
In terms of region, the global market is expected to be dominated by North America. The dominance can be attributed to the rapid increase in cystic fibrosis cases in the region, an increase in patients with various respiratory diseases affecting cystic fibrosis, and higher healthcare costs.
Europe is in the second position, following North America in terms of demand for advanced drugs due to the prevalence of the disease and the increased use of advanced drugs to achieve better results.
On the other hand, there are some factors which have been restricting the growth of the market. Along with the positive effects these medicines provide, there are some side effects that come with these medicines. These undesirable side effects include upper respiratory tract infections, liver problems, chest pain, and an increase in blood pressure, among other issues, and may obstruct the growth of the treatment market.
Cystic Fibrosis Treatment Market Size
Cystic Fibrosis Treatment Market Growth
Cystic Fibrosis Treatment Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Globally, Cystic Fibrosis market reached a value of USD 9.41 billion in 2023.
The market is projected to expand at a CAGR of 13.4% from 2024 to 2032, growing to USD 29.19 billion by 2032.
The major regions in the industry are North America, Latin America, the Middle East, Africa, Europe, and the Asia Pacific, with North America accounting for the largest share of the market.
Factors predicted to expand the market size include the rising prevalence of genetic disorders worldwide which will expand the market of cystic fibrosis treatment.
Hospital is the end-user that is dominating the global market.
The key players in the market include Genentech, Inc., Gilead Sciences, Inc., Novartis International AG, Vertex Pharmaceuticals Incorporated, Johnson & Johnson Services, Inc, Allergan Plc., Nestle Health Science S.A., AbbVie Inc., Horizon Therapeutics Plc., Chiesi Farmaceutici S.P.A., Pharmaxis Ltd., and Teva Pharmaceuticals Industries Ltd , among others.
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