Cystic Fibrosis Therapeutics Market Analysis

Cystic Fibrosis Therapeutics Market Analysis

The medication segment in the cystic fibrosis therapeutics market accounted for around USD 6.1 billion in 2020. The medications such as aerosolized antibiotic, bronchodilators, mucus thinner, and CFTR modulator among others helps to reduce lung flare-ups, respiratory symptoms, and enhanced patients' short-term quality of life. Such factors increase the demand for medications. Other factors such as rising demand as well as awareness about the advanced medications helps to stimulate the industry expansion. New product launches and regulatory approvals for commercialization of cystic fibrosis therapeutics will further impact the industry progression.

The hospital segment will capture 49% of the cystic fibrosis therapeutics market share from 2021 to 2027 led by the rising prevalence of cystic fibrosis and need for precise diagnosis and follow-up treatments under the supervision of physicians. This increases the patient hospital visits accelerating the segment growth. Additionally, revenue generated by hospital pharmacies is relatively high because infected people commonly visit nearby hospitals for doctor's prescription medicines and appointment.

North America cystic fibrosis therapeutics market held over 76% of revenue share in 2020 impelled by the increasing incidence of cystic fibrosis and the availability of several treatment options in the region. Moreover, rising government initiative such as increasing funding for innovations and R&D projects on cystic fibrosis drug drives the industry revenue. For instance, North American Cystic Fibrosis Conference (NACFC) offer educational forum to cystic fibrosis specialists to share developments in R&D related to cystic fibrosis therapeutics. Other factors such as, well established healthcare infrastructure, presence of major market leaders and reimbursements will propel the North America market demand over the forecast timeframe.