The Global Liver Fibrosis Treatment Industry is on the cusp of a remarkable surge, projected to reach a staggering US$46.65 billion by the year 2033. This translates to an unparalleled Compound Annual Growth Rate (CAGR) of 11% anticipated between 2023 and 2033. Fueled by this exceptional growth, the market, valued at US$16.43 billion in 2022, is poised to witness a significant expansion in the coming years.
Liver fibrosis, often regarded as a symptom rather than a standalone condition, is intricately linked with various liver disorders. Healthcare professionals are now placing a significant emphasis on the treatment of liver fibrosis by adopting strategies aimed at slowing down or halting the scarring process within the liver.
The management of liver fibrosis is crucial, considering the diverse risk factors associated with its development. Conditions such as autoimmune hepatitis, chronic alcoholism, and metabolic disorders including Galactosemia, Wilson disease, glycogen storage diseases, Gaucher disease, Fructosemia, iron-overload symptoms, as well as specific viral and parasitic infections, pose significant threats. These ailments directly impact hepatic blood flow, necessitating proactive measures for effective treatment.
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The global Liver Fibrosis Treatment Industry is actually witnessing an exponential pace in NASH (Non-alcoholic Steatohepatitis) treatment.
Several private research organizations are into research about the development of treatment for liver fibrosis with other fatty liver diseases. This factor is expected to take the liver fibrosis treatment market by storm in the forecast period. The US FDA, in April 2019, approved Mavyret (by AbbVie) as the very first treatment confirmed for pediatric Hepatitis C patients of every genotype.
At the same time, exorbitant costs involved in liver fibrosis treatment could hamper the liver fibrosis treatment market. The Centers for Disease Analysis states that the US alone invests US$ 5 Billion every single year on disease-related healthcare-related costs like hospitalizations, screening, transplants, and chemotherapy.
As per the National Institute of Health, NAFLD (nonalcoholic fatty liver disease) does represent liver disease that is the most prevalent one; accounting for 25% of cases at the global level. NAFLD has a variant called nonalcoholic steatohepatitis, which does influence 5% of those based out of the US.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Liver Fibrosis Treatment Market’. It has its team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With growing incidences of liver disorders, the global liver fibrosis treatment market is expected to grow on an unprecedented note going forward”, says an analyst from Future Market Insights.
Key Takeaways from the Global Liver Fibrosis Treatment Industry
- North America holds the largest market share with a plethora of drug molecules available for improving the treatment process with technological development in this region’s rehabilitation. Also, the key participants are into increasing spending on healthcare. Also, the fact that NAFLD (Non-Alcoholic Fatty Liver Disorder) ends up affecting close to 20% of Canadians can’t be let off.
- The Asia-Pacific is expected to grow at the quickest rate in the liver fibrosis treatment market on the back of advancements in the medical infrastructure in countries like India, China, and other South-East Asian economies. Also, there is a growing pool of people contracting Hepatitis C herein.
Global Liver Fibrosis Treatment Industry Competitive Treatment
- Aligos Therapeutics Inc., in December 2020, entered into collaboration with Merck & Co. Inc. to create a therapy regarding liver fibrosis treatment.
- Gilead Sciences Inc., in March 2019, launched the HepConnect Program to reduce Hepatitis C Infections in ‘Greater Appalachia’.
- Beijing Continent Pharmaceutical Co., Ltd., in January 2022, upgraded clinical trials regarding Hydronidone capsules to phase 3. It had finished with an effective Phase II clinical trial in December 2021. The Phase III trial is expected to be completed in June 2024.
- HepC, under its vector scheme, has its non-pathogenic double-stranded RNA virus behave as one of the expert inducers of anti-viral gene reactions. It is in the development of HC001 for curing chronic viral hepatitis caused due to HCV and HBV infections.
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What does the Report say?
- The research study is based on treatment type (Peroxisome Proliferator-activated Receptors (PPAR)-alpha agonist, ACE inhibitors, hepatotropic drug, and likewise), condition (chronic liver diseases, Hepatitis C, and non-alcoholic steatohepatitis), and end-user (hospitals, specialty clinics, and likewise).
- With fatalities out of cirrhosis of the liver on the rise, the global liver fibrosis treatment market is bound to grow on an astonishing note going forward.
Global Liver Fibrosis Treatment Industry Key Companies Profiled:
- Gilead Sciences, Inc.
- Merck & Co., Inc.
- Bristol-Myers Squibb
- Johnson and Johnson
- Novartis AG
- Vertex Pharmaceuticals Incorporated
- Pfizer Inc.
- FibroGen, Inc.
- Inventiva Pharma
- Pharmaxis Limited
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Key Segments Profiled in the Global Liver Fibrosis Treatment Industry Survey
By Treatment Type:
- Peroxisome Proliferator-activated Receptors (PPAR)-alpha agonist
- ACE Inhibitors
- Hepatotropic Drug
- Others
By Condition:
- Chronic Liver Diseases
- Hepatitis C
- Nonalcoholic Steatohepatitis
By End User:
- Hospitals
- Specialty Clinics
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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