CFTR Correctors/Modulators Market Size to Surpass US$ 22.70 Billion by 2031

Newark, New Castle, USA, June 06, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global CFTR correctors/modulators market was conducted by Growth Plus Reports in 2022 and is valued at US$ 8.93 billion . The market is expected to hit a revenue CAGR of 10.1% to reach US$ 22.70 billion by 2031 .

Analysis of the global market for CFTR correctors/modulators indicates that the market revenue share is likely to expand during the forecast period. The chloride ions are transported into and out of cells by the protein known as the cystic fibrosis transmembrane conductance regulator (CFTR).

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CFTR Correctors/Modulators Market Scope

Key Takeaways:

Recent Development in the CFTR Correctors/Modulators Market:

Competitive Landscape

A list of the prominent players operating in the global market for CFTR correctors/modulators includes:

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Market Drivers and Restraints:

The global CFTR correctors/modulators market revenue is driven by the development of new drugs and the increasing availability of genetic testing that can identify patients who may benefit from these treatments. The market is also likely to be shaped by regulatory changes, such as the FDA's recent approval of Trikafta (elexacaftor/tezacaftor/ivacaftor) for a broader range of CF mutations.

However, these drugs are comparatively expensive and are not accessible to all patients. There is still a need for additional research and development to identify new treatments for Cystic Fibrosis. These factors can restrain the market revenue growth.

Market Segmentation:

Segmentation By Drugs

Based on the drugs, the ivacaftor segment dominates the global CFTR correctors/modulators market with the largest revenue share. This large revenue share is attributed to improved effectiveness in addressing the underlying genetic flaw that causes cystic fibrosis and has also shown improved lung function with reduced exacerbations in patients.

Regional Growth Dynamics

Based on the region, North America, with the largest revenue share, dominates the global CFTR correctors/modulators market. This large revenue share is because of the high population of patients suffering from cystic fibrosis, increasing healthcare standards, and the presence of key market players in this region.

Report Coverage

Growth Plus Reports carried out extensive market research on the CFTR correctors/modulators market globally. We examined the fundamental market characteristics, significant investment opportunities, regional growth patterns, ten-year revenue estimates, competing market players, and mergers and acquisitions.

Table of Content

CFTR CORRECTORS/MODULATORS MARKET TOC

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