The cystic fibrosis therapeutics market of Europe is anticipated to register a CAGR of 10.10% over the projected period of 2020-2028. Europe has the largest market share in the global market in terms of revenue. A rise in the incidence of cystic fibrosis has given rise to the need for newer and advanced therapeutics for its treatment leading to an increase in the number of pipeline drugs, which is expected to create opportunities for market expansion in the region.
In order to survey the strong growth of the European cystic fibrosis market further, the region is segmented into France, Belgium, Russia, Poland, the United Kingdom, Germany, Italy, and the rest of Europe that includes countries such as Finland, Bulgaria, Sweden, Greece, Switzerland, Spain, Portugal, and Czech Republic. In Russia, although the government provides insurance for cystic fibrosis, it does not cover all medications and treatments. Only ’Pulmozyme’ is covered at the federal level, which is hindering the market growth, and hence implying the Russian market will grow at a steady rate. In countries like Belgium, the rising incidences of cystic fibrosis across the country and initiating reimbursement is expected to propel the market growth. In Poland, CF may have a considerable impact on healthcare expenditures due to direct healthcare costs and low productivity, despite its low prevalence. Poland’s healthcare expenditure rose to 6.5% of GDP in 2016 from 6.3% in 2015. Hence, the high cost of cystic fibrosis treatment, together with increasing healthcare expenditure, is estimated to propel the market in Poland.
Abbott Laboratories, GlaxoSmithKline PLC, F. Hoffmann-La Roche Ltd, Novartis International AG, Agilent Technologies, Inc, etc. are some of the renowned companies operating in the region.
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