The Australian Cystic Fibrosis Market size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Cystic Fibrosis is a hereditary disorder, which majorly affects lungs and other body parts such as pancreas, liver, and kidney. It is caused by the mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene. This gene is located in chromosome number 7, and is responsible for the regulation of sweat, mucus, and body secretions. The average life expectancy for Australians with CF is 38. Approximately 3,500 people in Australia have CF.
According to the Australian Cystic Fibrosis patient registry report out of the whole population, more than 3446 people are suffering from this disease & 85 % of patients are diagnosed within 1 year after the presence of symptoms are the growth drivers of this market.
Increased government backing for innovation, as well as increased funding for R&D projects for various Cystic Fibrosis treatments, will propel the market forward. The market’s expansion would be hampered by the high cost of Cystic Fibrosis therapy and the emergence of generic medications along with the side effects caused by drugs available.