April 23, 2024

The Liver Fibrosis Treatment Market Poised for Steady Growth owing to Rising Alcohol Consumption

Antifibrotic drugs play a major role in slowing or arresting the progression of liver fibrosis by regulating wound healing and extracellular matrix production of liver cells. Growing cases of non-alcoholic steatohepatitis (NASH), mounting prevalence of chronic liver diseases, and increasing research & development activities are influencing the demand for new and effective therapies.

The Global Liver Fibrosis Treatment Market is estimated to be valued at US$ 18.77 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the liver fibrosis treatment market are Abbott Laboratories, Baxter International Inc., Fresenius Kabi AG, DANONE S.A., B.Braun Melsungen AG, Mead Johnson & Company, LLC, Perrigo Company PLC, Koru Nutrition Inc., and Koninklijke DSM N.V. Key players are focusing on new product launches and investments to strengthen their market position. For instance, in 2020, Novartis AG received FDA approval for its Jakafi drug to treat myelofibrosis, a type of bone marrow cancer.

The growing demand for antifibrotic therapies can be attributed to the rising alcoholic liver disease cases globally. According to the WHO, alcohol consumption accounted for approximately 3 million deaths each year between 2016 and 2019. The technological advancements in fibrosis detection and assessment have enabled early diagnosis of fibrosis progression, thereby driving the market growth. Novel non-invasive tools such as enhanced liver fibrosis test and transient elastography methods have improved diagnostic capabilities.

Market Trends

Increasing healthcare expenditure in emerging nations: Governments across developing countries are raising healthcare budgets to improve access to advanced medications. This is providing a fillip to market growth in countries with high unmet needs.
Combination therapy approaches: Clinical trials evaluating synergistic effects of combining different antifibrotic drugs are underway. The advantages of combination regimens over monotherapies could boost the market opportunity.

Market Opportunities

Development of anti-NASH drugs: NASH has emerged as a major cause of liver cirrhosis worldwide. Market players are investing in R&D of novel drugs targeting NASH resolution and liver fibrosis regression.
Cell-based therapies: Mesenchymal stem cells, cytokine-induced killer cells, and regulatory T cells show promise in tissue repair and inflammation modulation in chronic liver diseases. Their commercialization can create new avenues.

Impact of COVID-19 on Liver Fibrosis Treatment Market growth

The COVID-19 pandemic has significantly impacted the growth of the Liver Fibrosis Treatment Market Size . During the initial stages of the outbreak, with lockdowns imposed worldwide, outpatient clinic visits reduced substantially. This directly impacted the diagnosis and treatment of liver fibrosis. However, with the spread of the virus, many patients suffering from liver fibrosis were at high risk of developing severe complications if infected. This led to prioritization of liver fibrosis management. Telehealth solutions helped continue care delivery to some extent. Still, interrupted supply chains posed challenges in drug procurement. With economies gradually restarting, the market is recovering. However, risks of future waves persist. Maintaining COVID-19 appropriate behaviors and vaccination drives remain important to reduce disease burden and facilitate unhindered market growth.

Geographical Regions with High Market Concentration
In terms of value, North America holds the major share of the global liver fibrosis treatment market currently. This is attributed to the rising prevalence of non-alcoholic fatty liver disease (NAFLD) and a well-established healthcare system supporting early diagnosis and management. Europe is the second largest regional market. However, over the forecast period, the Asia Pacific region is expected to witness the fastest growth due to growing obesity, diabetes prevalence and improving access to healthcare in countries like India and China which are seeing massive economic development. Addressing lifestyle risk factors will be crucial to curb future disease burden in these regions.

Fastest Growing Region in the Liver Fibrosis Treatment Market
The Asia Pacific region presents most significant growth opportunities for players in the liver fibrosis treatment market. Hepatitis B virus infection is highly endemic in numerous Southeast Asian and East Asian countries like China which contributes majorly to liver fibrosis development. Increasing research funding for developing affordable treatment options is anticipated to boost drug adoption. Additionally, rising health awareness and healthcare expenditure are expanding access to diagnosis and care. A large patient pool and improving standards of living point towards continued strong market expansion prospects in the Asia Pacific over the coming years.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it