With increasing prevalence of cystic fibrosis and its growing awareness among people, the global market for cystic fibrosis is expected to grow at a steady pace. Cystic fibrosis is a genetic condition where the lungs and digestive system becomes clogged with excess mucus. This condition is more common among Caucasian population than people of Asian or African descent. The global market for cystic fibrosis is expected to grow at a compound annual growth rate of 32.50 percent during the period from 2014 and 2019. In recent years, there has been greater awareness about cystic fibrosis and its treatment. This has in turn fueled the growth of the global cystic fibrosis market. Some other factors which are propelling the growth of the market are better healthcare facilities, technological advancement and greater emphasis on research and development.
The global market for cystic fibrosis can be segmented on the basis of molecule type, route of administration, dosage form and geographical regions. On the basis of molecule type, the global cystic fibrosis can be segmented into biologics and small molecules. According to route of administration, the market can be segmented into oral, parenteral and topical. By dosage form, the market can be segmented into solid and liquid. Key players in the global cystic fibrosis market are Novartis, Actavis, Vertex Pharmaceuticals, F. Hoffmann-La Roche, Johnson & Johnson, Novo Nordisk, and Abbot Pharmaceuticals. Major pharmaceutical companies are increasing their R&D activities and coming up with innovative drugs. This is in turn contributing to the growth of the global market for cystic fibrosis.
In North America, an ever-increasing aging population and better awareness of the condition, has made it the dominant region in the global cystic fibrosis market. In the coming years, Asia-Pacific, particularly China and India are expected to fastest growing market for cystic fibrosis. However, some factors such as high cost of treatment and increase in the complexity of cystic fibrosis are restraining the growth of the market. In the coming years, a number of drugs which are administered for the treatment of cystic fibrosis will lose their patent. This will also expected to act as a restrain for the growth of the market. Increasing research and development for the launch of new medications and introduction of various medications in the antibiotic segment is going to contribute to the growth of the market.
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