The Global Liver Fibrosis Treatment Market Is Driven By Rising Alcohol Consumption
Liver fibrosis is a condition where excessive amounts of collagen are deposited in the liver, often caused by conditions like hepatitis or alcohol abuse. Treatments for liver fibrosis aim to slowdown or stop the progression of scarring by addressing the underlying cause of injury to the liver cells. This involves medications, lifestyle changes and in some cases procedures. The global liver fibrosis treatment market consists of drugs for treating fibrosis directly by halting the activation of hepatic stellate cells or reducing collagen production and deposition in the liver. Some key drugs are novel antifibrotics, anti-inflammatory and immunosuppressant's. The need for effective treatment of liver diseases is growing due to risk factors like rising alcohol consumption and growing viral hepatitis prevalence.
The global Liver Fibrosis Treatment Market is estimated to be valued at US$ 16.29 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Currently approved drugs have limited efficacy in reversing fibrosis and halting progression to cirrhosis. Most treatments only slow progression. Hence, there is significant research ongoing to identify new molecular targets and develop first-in-class oral antifibrotic therapies. Some molecules in clinical trials include simtuzumab (GS-6624), GR-MD-02, Cendakimab (M36), and ANG-3777. These novel antifibrotics aim to directly halt activation of hepatic stellate cells and reduce deposition of collagen fibres in the liver by modulating key molecular pathways involved in fibrogenesis. Their success in late stage trials could significantly improve treatment outcomes for liver fibrosis patients and drive market growth during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the liver fibrosis treatment market is low due to the high capital requirement to establish manufacturing facilities and need for regulatory approval. Also, the established players dominate the market due to their strong brand image and distribution network.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are few alternative treatments available in the market. Also, switching costs are low for buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have the threat of forward integration.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment alternatives available to treat liver fibrosis currently.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of numerous regional and global players competing for larger market share.
Key Takeaways
The global liver fibrosis treatment market is expected to witness high growth over the forecast period. The global Liver Fibrosis Treatment Market is estimated to be valued at US$ 16.29 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030.
Regional analysis- North America dominates the liver fibrosis treatment market currently due to growing prevalence of chronic liver diseases and technological advancements in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing healthcare spending and patient awareness in countries like China and India.
Key players- Key players operating in the liver fibrosis treatment market are Abbott Laboratories, Baxter International Inc., Fresenius Kabi AG, NESTLÉ S.A., DANONE S.A., B.Braun Melsungen AG, Mead Johnson & Company, LLC, Perrigo Company PLC, Koru Nutrition Inc., and Koninklijke DSM N.V. Abbott Laboratories holds the largest market share due to its diverse product portfolio in liver fibrosis treatment segment.
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