Global Liver Fibrosis Treatment Market, by Treatment Type (Peroxisome Proliferator-activated Receptors (PPAR)-alpha agonist, ACE Inhibitors, Hepatotropic Drug, and Others), by Condition (Chronic Liver Diseases, Hepatitis C, and Nonalcoholic Steatohepatitis), by Distribution Channel (Hospitals, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 14.7 Billion in 2022 and is expected to exhibit a CAGR of 10.8% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing number of clinical trials by key players focused on development of an efficient treatment option for liver fibrosis is expected to drive growth of the liver fibrosis treatment market over the forecast period. For instance, in July 2017, Department of Pediatrics, National Taiwan University Hospital Taipei, Taiwan initiated the clinical trial study for Sildenafil 20 MG for treatment of liver fibrosis. The study is in phase 4 clinical trial and is expected to complete by December 31 2023.
Global Liver Fibrosis Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a negative impact on the global liver fibrosis treatment market, owing to its overflowing admission of COVID-19 patients and unavailability of infrastructure or medical staff for other treatments apart from COVID-19. Moreover, during the pandemic, most of the countries imposed restrictions on supply chain and new drug development projects. For instance, in April 2021, National Center for Biotechnology Information, the acute stress of the COVID-19 pandemic had laid bare a series of long-term weaknesses in the U.S. public health system, including the fragility of supply of essential medications. The virus produced unprecedented shifts in demand for old as well as new drugs, while simultaneously introducing new uncertainties about the production and distribution of pharmaceutical products. COVID-19–related shortages extended beyond antivirals to include a range of drugs broadly used in intensive care and in general hospital management. These shortages point to serious vulnerabilities in the pharmaceutical supply chain that compromise readiness for new waves of the current pandemic and crises that are expected soon. Because drug inventories are confidential, it was not possible to ascertain whether scarce resources are being distributed equitably and to prioritize areas and facilities of higher demand. This acute stress reveals a series of chronic weaknesses in pharmaceutical production, distribution, regulation, and oversight, which need to be remedied—and remedied soon—if the United States was to emerge from the present pandemic.
Moreover, in May 2021, according to data published by PubMed, the overall impact on bulk supply is reportedly more heterogenous, both across drugs and across countries. Increased controls resulting from the implementation of measures to fight the spread of COVID-19 have had consequences on large-scale drug supply. Some countries, such as Italy and countries in Central Asia, have experienced a sharp decrease in drug seizures. Other countries, such as Nigeria, have reported a cease in drug trafficking.
Global Liver Fibrosis Treatment Market: Key Developments
In June 2022, Madrigal Pharmaceuticals, Inc., a biopharmaceutical company, announced the data from multiple resmetirom abstracts presented at the European Association for the Study of the Liver’s International Liver Congress (EASL 2022), including a late-breaking presentation of data from the Phase 3 MAESTRO-NAFLD-1 study and three additional oral presentations from the resmetirom clinical development program. The double-blind portion of the noninvasive Phase 3 MAESTRO NAFLD-1 study showed resmetirom to be safe and well-tolerated and to reduce liver fat, fibrosis measures on FibroScan and Magnetic resonance elastography and liver enzymes, as well as multiple atherogenic lipids.
Browse 24 Market Data Tables and 28 Figures spread through 168 Pages and in-depth TOC on “Global Liver Fibrosis Treatment Market ”- Forecast to 2030, Global Liver Fibrosis Treatment Market , by Treatment Type (Peroxisome Proliferator-activated Receptors (PPAR)-alpha agonist, ACE Inhibitors, Hepatotropic Drug, and Others), by Condition (Chronic Liver Diseases, Hepatitis C, and Nonalcoholic Steatohepatitis), by Distribution Channel (Hospitals, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/liver-fibrosis-treatment-market-2320
Key Takeaways of the Global Liver Fibrosis Treatment Market:
- Global liver fibrosis treatment market is expected to exhibit a CAGR of 10.8% during the forecast period, owing to increasing research and development activities and approval of liver fibrosis drugs from US Food and Drug Administration. For instance, in May 2022, Pfizer Inc., a pharmaceutical and Biotechnology Company, received the U.S. Food and Drug Administration, Fast Track designation for Pfizer’s investigational combination therapy used in the treatment of non-alcoholic steatohepatitis (NASH) with liver fibrosis: ervogastat (PF-06865571, a diacylglycerol O-acyltransferase 2 inhibitor, or DGAT2i) and clesacostat (PF-05221304, an acetyl-CoA carboxylase inhibitor, or ACCi). Fast Track is a process designed to facilitate the development and expedite the review of new drugs and vaccines intended to treat or prevent serious conditions and address unmet medical needs.
- Among distribution channel, hospitals segment is expected to account for major market share during the forecast period, as hospitals offer primary treatment options for patients suffering with liver fibrosis.
- Major players operating in the global liver fibrosis treatment market include Gilead Sciences, Inc., Merck & Co., Inc., Bristol-Myers Squibb, Johnson and Johnson, Novartis AG, Vertex Pharmaceuticals Incorporated, Pfizer Inc., FibroGen, Inc., and Pharmaxis Limited
