Cystic Fibrosis Market Growth at a Strong CAGR of 8.3% During The Forecast Period 2017-2023

Cystic fibrosis (CF) is a chronic, genetic disease which affects the overall progress of entire body leading to severe disability and early death in many cases. CF is mainly caused due to several mutations in the gene which encodes for cystic fibrosis transmembrane conductance regulator (CFTR) protein. According to the Cystic Fibrosis foundation (CFF), currently there are approximately 70,000 people who are suffering from cystic fibrosis worldwide.
Chest Physical Therapy (CPT) is a technique which is mainly done in cases of cystic fibrosis to drain out the mucus out of the body. In CPT, patient uses gravity to pull out the mucus by getting into different positions. While the patient is lying, the caretaker or the medical nurse taps or vibrates the chest of the patient in order to dislodge the thick mucus inside the lungs.
Development of new drugs and therapies, and financial support from CFF in research and development of CF drugs are the key drivers fueling the growth of the market. In 2015, CFF announced a grants of $23 Million to 11 cystic fibrosis research and development centers in the United States. In total, CFF has invested around $425 Million in order to boost the drug development for this disorder. The constant financial support from the foundation encourages the biopharmaceutical companies to involve in the research of rare disease leading to the development of novel drugs. Despite these drivers, high cost of the drugs and treatment may hamper the growth of the market. The two most effective drug treatments for cystic fibrosis come with huge price tags, Kalydeco ($311,000/year) and Orkambi ($259,000/year). These high prices makes the CF treatment unaffordable for most of the patients.
It is estimated that cystic fibrosis market is expected to grow at a CAGR of 13.5% during the forecast period 2016-2022.
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Segmentation
The global cystic fibrosis market is segmented on the basis of treatment method. Treatment method is further segmented into medication, devices, and other treatments.

Key Findings
• The global cystic fibrosis market is expected to reach USD 1,192.2 million by 2022 at a CAGR of 13.8%
• On the basis of treatment method, medication market is expected to command the largest market share of 76.4% over the review period and it is also expected to grow at the fastest CAGR of 14% during the forecast period 2016-2022
• The North America hold the largest share of the cystic fibrosis market and is expected to reach USD 521.0 million by 2022
• Europe is the fastest growing market, which is expected to grow at a CAGR of 14.1% over the 2017-2023

Regional Analysis
The North America dominates the cystic fibrosis market owing to the high incidence rate of cystic fibrosis. According to cystic fibrosis foundation, more than 30,000 patients are living with cystic fibrosis in the U.S. and nearly, 1000 new cystic fibrosis cases are diagnosed each year. According to CFF’s national patient registry, the median age of the person with cystic fibrosis is currently 33.4 years.
European region stands second in the regions affected by cystic fibrosis. According to the European Cystic Fibrosis Society (ECFS), considering the 26 major countries in Europe, more than 35,500 people were suffering from cystic fibrosis in 2014. Among the CF patients in Europe, 51.8% were adults with age 18 years or more and 48.2% were less than 18 years old. Countries like the United Kingdom, Ireland, Romania, and Bulgaria have higher birth prevalence of CF.
The prevalence of cystic fibrosis is seen to be very low in the Asian region. The exact prevalence is not known but the risk of child birth with cystic fibrosis in Asian people is 1 in 100,000. The prevalence of CF is rare in the East Asian countries like China and Japan.
The Middle East and Africa holds the least share in the market owing to the presence of poor and slow developing countries, especially countries in the African region.
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Key Players
Some of the key players in this market are Vertex Pharmaceuticals, F. Hoffmann-La Roche, AbbVie, Gilead Sciences, Novartis, Genentech, Pharmaxis, Chiesi Farmaceutici, Forest Laboratories and others.


Major Key Players in Global Cystic Fibrosis Market
Some of the key players in this market are: Vertex Pharmaceuticals, F. Hoffmann-La Roche, AbbVie, Gilead Sciences, Novartis, Genentech, Pharmaxis, Chiesi Farmaceutici, Forest Laboratories and others.
The North America is the leading market across the globe on account of increasing patient population. According to cystic fibrosis foundation, more than 30,000 patients are living with cystic fibrosis in the US.
Europe accounts for the second largest market in the world. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K, and France. The increasing government support for development of the healthcare domain drives the European market.
Asia Pacific region is projected to be the fastest growing region during the forecast period. Increasing need for cost-effective glucose monitoring devices, rapidly improving technology, and the presence of huge patient pool drive the growth of this market in Asia Pacific region.
The Middle East and Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region.
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List of Figure
FIGURE 1 RESEARCH PROCESS
FIGURE 2 PORTERS FIVE FORCES MODEL
FIGURE 3 GLOBAL CYSTIC FIBROSIS MARKET, BY DIAGNOSTIC TEST
FIGURE 4 GLOBAL CYSTIC FIBROSIS MARKET, BY TREATMENT
FIGURE 5 GLOBAL CYSTIC FIBROSIS MARKET, BY DRUG TYPE
FIGURE 6 GLOBAL CYSTIC FIBROSIS MARKET, BY REGION
FIGURE 7 GLOBAL CYSTIC FIBROSIS MARKET: COMPANY SHARE ANALYSIS, 2015 (%)

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