LONDON--(BUSINESS WIRE)--The global cystic fibrosis therapeutics market is expected to grow at a CAGR of above 17% during the period 2018-2022, according to a new market research study by Technavio.
The report categorizes the global cystic fibrosis therapeutics market by drug class, including CFTR modulators, mucolytics, PERT, anti-infectives, and bronchodilators. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
Save more with Technavio. Buy 2 reports and get the third for free: View Technavio’s latest discounts and promotions
Market driver: improved diagnostic technologies
CF is a genetically inherited disease and consists of several diagnostic tests to detect the disease. Antenatal testing, carrier testing, and other tests such as genetic tests and sweat tests are some of the popular methods of diagnosis. Improvement in diagnostic technologies is expected due to the growing investment and awareness about genetic diseases, which will drive the growth of the market.
According to a senior lead analyst at Technavio for cardiovascular and metabolic disorders research, “In the last few years, several novel diagnostic methods for CF have been developed. For example, scientists at Stanford University have developed a DNA test for the comprehensive and accurate screening of newborns for CF. This test uses next-generation DNA sequencing, which identifies the entire CFTR gene instead of just looking for selected mutations. When compared to diagnostic tests presently being used such as sweat test, this is less time-consuming.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: strategic collaboration
M&A is usually intended to enhance a company's product portfolio and increase the acquiring company's market penetration. Established pharmaceutical companies acquire late-stage products from small companies where the efficacy of products has already been demonstrated, thereby cutting down on initial R&D expenditure. Joint ventures between companies enable the use of technical expertise from both companies for mutual benefits, allowing the use of regulatory and developmental experience gained by one company to support the pipeline candidates of the other. It also ensures the inflow of adequate funds for R&D. Further, the distribution networks of both partners can be used to commercialize products. Vendors are currently making acquisition strategies to increase their presence in the global market, expand their product portfolios, and achieve economies of scale in production.
Market challenge: drug discontinuation
Discontinuation of drugs from the development stage or from the market after their launch is a major challenge for investors and drug manufacturers. The discontinuation of drugs from the late-stage development or after approval due to reasons such as safety concerns leads to a significant financial loss for investors because of the high R&D and marketing costs involved in the process of drug development. The discontinuation of CF therapeutic drugs from the development stage has been due to the lack of proper understanding of drug targets. Moreover, drugs can be discontinued in the late-stage trial due to their potential side effects.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Some of the major contributors in the global cystic fibrosis therapeutics market
- AbbVie
- Gilead
- F. Hoffmann-La Roche
- Vertex Pharmaceuticals
The global cystic fibrosis therapeutics market is moderately concentrated. Though there are few leading vendors, new vendors look at capturing the market share. With many new players entering the market the competition is expected to intensify with players investing heavily in R&D activities. As a result, the key players are increasing their number of partnerships and acquisitions to integrate various technologies and increase their foothold in the market.
Get a sample copy of the global cystic fibrosis therapeutics market report free of cost
Access Technavio’s continuously growing cardiovascular and metabolic disorders research library and find expert analysis on hundreds of markets.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
