Visiongain has published a new report entitled NASH Treatment & Therapeutics Market Report 2023-2033: Forecasts by Product Type (Vitamin E and Pioglitazone, Ocaliva, Elafibranor, Selonsertib, Cenicriviroc, Others), by Application (Treatment, Diagnosis), by Sales Channel (Hospital Pharmacy, Online Provider, Retail Pharmacy, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The NASH treatment & therapeutics market is valued at US$4,657.7 million in 2023 and is projected to grow at a CAGR of 38.6% during the forecast period 2023-2033.
Increasing Healthcare Expenditure to Boost Industry Growth
The increasing healthcare expenditure related to NASH has become a significant financial burden on healthcare systems worldwide, as the prevalence and impact of the disease continue to rise. Recent instances highlight the escalating costs associated with NASH, which encompasses various aspects of healthcare spending. For instance, increasing NASH healthcare expenditure is observed in developed countries like the United States and Europe. The rising prevalence of NASH, driven by the global obesity epidemic and the increasing incidence of metabolic syndrome, has resulted in a substantial economic burden. The costs associated with NASH diagnosis, including imaging tests, blood work, and liver biopsies, are significant. Moreover, managing NASH-related complications such as liver fibrosis, cirrhosis, and hepatocellular carcinoma requires ongoing monitoring, specialist consultations, and potentially liver transplants, all of which add to the healthcare expenditure. In addition to diagnostic and treatment costs, the indirect costs associated with NASH contribute to the increasing healthcare expenditure.
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How has COVID-19 had a Significant Impact on the NASH Treatment & Therapeutics Market (Pipeline Analysis)?
The COVID-19 pandemic has had a significant impact on the NASH treatment and therapeutics market. The diversion of healthcare resources and focus towards managing the pandemic has led to disruptions in clinical trials, delayed regulatory processes, and decreased patient engagement. Clinical trial delays have hindered the progress of potential NASH therapies, while postponed or cancelled appointments have resulted in delayed diagnosis and treatment initiation for NASH patients. Additionally, the economic challenges caused by the pandemic have affected the affordability and accessibility of NASH treatments. Despite these challenges, the pandemic has also spurred innovation in the form of telemedicine and remote monitoring, which have facilitated continued patient care and knowledge exchange. As the healthcare system recovers, efforts are being made to resume clinical trials and address the backlog, ensuring progress in the development of NASH treatments.
How will this Report Benefit you?
Visiongain’s 226-page report provides 78 tables and 111 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the NASH Treatment & Therapeutics Market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for NASH Treatment & Therapeutics. Get financial analysis of the overall market and different segments including product type, application, and sales channel and capture higher market share. We believe that there are strong opportunities in this fast-growing NASH Treatment & Therapeutics Market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Prevalence of NASH to Fuel Market Growth
The increasing prevalence of NASH has become a concerning trend in recent years, with numerous instances highlighting its growing impact on global health. Studies indicate a substantial rise in the incidence and prevalence of NASH, making it a significant public health issue. Studies have revealed the escalating burden of NASH on various populations worldwide. For example, in developed countries such as the United States and Europe, NASH has emerged as the leading cause of chronic liver disease, surpassing hepatitis C. The prevalence of obesity, type 2 diabetes, and metabolic syndrome, all risk factors for NASH, has been steadily increasing, contributing to the rise in NASH cases. Additionally, rapid urbanization, sedentary lifestyles, and changes in dietary patterns, including the consumption of high-calorie, processed foods, have further fueled the epidemic. Furthermore, NASH is not limited to developed nations but has also become a growing concern in developing countries. As these countries undergo rapid economic growth, urbanization, and the adoption of Westernized lifestyles, there has been a simultaneous increase in the prevalence of NASH.
Growing Awareness and Diagnosis to Spur Market Growth
Over the past decade, there has been a significant increase in the growing awareness and diagnosis of NASH. One key factor contributing to the growing awareness of NASH is the rising prevalence of obesity and metabolic syndrome. As these conditions become more prevalent, so does the incidence of NAFLD and subsequently NASH. Medical professionals and researchers have begun to recognize the potential consequences of NASH, such as liver fibrosis, cirrhosis, and even liver cancer. This awareness has sparked a sense of urgency to identify and treat NASH early to prevent further liver damage.
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Where are the Market Opportunities?
Technological advancements have played a crucial role in the understanding, diagnosis, and treatment of NASH. Recent instances have witnessed significant progress in the application of various technologies to advance our knowledge and improve patient care in the field of NASH. One notable technological advancement is the use of non-invasive imaging techniques for the assessment of liver fibrosis and steatosis. Transient elastography, such as FibroScan, and magnetic resonance imaging (MRI) with proton density fat fraction (PDFF) mapping have gained popularity as non-invasive tools to quantify liver stiffness and fat content, respectively. These imaging techniques provide valuable insights into the severity of liver disease and can aid in the diagnosis, monitoring, and risk stratification of NASH patients. Furthermore, advancements in molecular diagnostics and omics technologies have revolutionized our understanding of the underlying molecular mechanisms involved in NASH.
Competitive Landscape
The major players operating in the NASH treatment & therapeutics market are Intercept Pharmaceuticals, Gilead Sciences, AbbVie Inc., Enanta, Genentech. BioPredictive S.A.S, Galmed Pharmaceuticals, Cadila Pharmaceuticals, Prometheus Laboratories, and Genfit. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- In May 2023, Galmed announced initiation of a clinical development program to evaluate aramchol meglumine for the treatment of primary sclerosing cholangitis (PSC). PSC is a chronic liver disease characterized by progressive fibrosis in the biliary system, often leading to cirrhosis and fibrotic liver disease.
- In January 2023, Intercept Pharmaceuticals, a biopharmaceutical company specializing in treatments for progressive non-viral liver diseases, announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for obeticholic acid (OCA) seeking accelerated approval.
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To find more Visiongain research reports on the Pharma sector, click on the following links:
- Non-alcoholic Fatty Liver Disease (NAFLD) & NASH Market Report 2021-2031
- Amino Acid Metabolism Disorders Treatment Market Report 2021-2031
- Metabolic Disorder Therapeutics Market Report 2020-2030
- Cholestrol Lowering Drugs Market Report 2021-2031
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