Other factors such as increasing awareness and better healthcare facilities are driving the cystic fibrosis therapeutics market.
New York, NY -- (SBWIRE) -- 02/06/2017 -- North America dominates the global market for cystic fibrosis therapeutics due to large number of aging population and high technological awareness and advancement in the region. Asia, followed by the Europe, is expected to experience high growth rates in the next five years in global cystic fibrosis market. China and India are expected to be the fastest growing cystic fibrosis markets in Asia. Some of the key driving forces for cystic fibrosis market in emerging countries are large pool of patients, rising government funding and increasing R&D investment.
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Increasing prevalence of cystic fibrosis, rising awareness about cystic fibrosis therapy, technological advancement and high rate of R&D initiatives are some of the major factors that are driving cystic fibrosis therapeutics market. In addition, other factors such as increasing awareness and better healthcare facilities are driving the cystic fibrosis therapeutics market. However, high cost involved in treatment, increase in complexity of disease are restraining the cystic fibrosis therapeutics market. In addition, patent expiries from many companies and introduction of generic drugs is expected to restrain the growth of cystic fibrosis therapeutics market.
Innovation of some new drug with better efficacy and results is expected to offer good opportunity for cystic fibrosis therapeutics market. In addition, emerging markets hold a great potential for growth of cystic fibrosis therapeutics market due to their large population base and growing economy. Some of the major trends that have been observed in the cystic fibrosis therapeutics market include introduction of various medications in antibiotics segment. In addition, companies are involved in R&D of novel products for the treatment of cystic fibrosis.
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Some of the major companies that have been involved in cystic fibrosis therapeutics market are Novartis International AG, Chiesi Farmaceutici SpA, Vertex Pharmaceuticals, Genentech, Inc., Gilead Sciences, Inc. and Pharmaxis Ltd.