PORTLAND, Oregon and PUNE, India, October 12, 2017 /PRNewswire/ --
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Idiopathic pulmonary fibrosis is a disease in which lung tissues become thick and stiff over time, which results in reducing the oxygen carrying capacity of the tissues. Increase in geriatric population and rise in number of patients suffering from idiopathic pulmonary fibrosis are expected to drive the market growth. In addition, rise in frequency of cigarette smoking population boosts the market growth. However, unavailability of the treatment options that can completely cure the disease restricts the market growth.
Perifenidone is expected to dominate the market throughout the analysis period, as this medication helps to slow scarring, and thus preserve lung function. Nintedanib is expected to register highest CAGR of 12.2% during the forecast period.
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KEY FINDINGS OF THE STUDY
Asia-Pacific is projected to register the highest CAGR of 13.0% during the forecast period, owing to increase in incidence of population suffering from fibrotic disease and rise in ageing population. In addition, increase in healthcare expenditure offers a lucrative opportunity for the market growth.
The major companies profiled in the report include MediciNova, Inc., Boehringer Ingelheim, F. Hoffmann-La Roche, FibroGen, Inc., Promedior, Inc., Merck & Co., Inc., Galapagos NV, Biogen, Bristol-Myers Squibb Company, Prometic Life Sciences Inc., and Cipla Inc.
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