Market Overview:
The liver fibrosis treatment market involves products like anti-fibrotics, anti-scarring agents and other therapeutics which prevent progression of scarring of the liver. Liver fibrosis results from chronic liver damage leading to excessive deposition of extracellular matrix proteins in the liver. It is prevalent in conditions like hepatitis B & C, non-alcoholic fatty liver disease, alcoholic liver disease and hereditary hemochromatosis. Early and accurate diagnosis is crucial for effective management of liver fibrosis.
Market key trends:
Technological advancements in diagnostic tests allow accurate staging of liver fibrosis without liver biopsy. Introduction of transient elastography tests like fibroscan and magnetic resonance elastography provides pain-free, rapid and reproducible measurement of liver stiffness. Non-invasive tests help in frequent monitoring of disease progression and response to therapy. This reduces the need for liver biopsies and risk of associated complications. Widespread availability and easy usability of such tests is expected to drive greater screening and early treatment seeking behaviour. This will boost demand for anti-fibrotic therapies in the forecast period.
The global Liver Fibrosis Treatment Market Size is estimated to be valued at US$ 16.29 Bn in 2023 and is expected to exhibit a CAGR of 10.8 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: New entrants face high threat as the market requires huge R&D investments for drug development along with clinical trials. Stringent regulatory requirements further act as a barrier.
Bargaining power of buyers: The bargaining power of buyers is moderate as there exist many treatment alternatives for liver fibrosis. However, buyers prefer cost-effective therapies with high efficacy rates.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as buyers can switch between suppliers. Suppliers need to continuously invest in innovations to remain competitive.
Threat of new substitutes: The threat of new substitutes is moderate as new substitute therapies take time to get approved and established in the market. Existing treatments also work on different mechanisms.
Competitive rivalry: The competitive rivalry is high among major players due to their focus on new product launches and partnerships.
Key Takeaways
The global liver fibrosis treatment market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing alcohol consumption and rising obesity rates.
Regional analysis: North America dominates the global market owing to increasing healthcare spending and presence of major players in the region. Asia Pacific is expected to exhibit the fastest growth over the coming years attributed to growing medical tourism industry and rising chronic liver disease prevalence in countries like China and India.
Key players operating in the liver fibrosis treatment market are Gilead Sciences, Inc., Merck & Co., Inc., Bristol-Myers Squibb, Johnson and Johnson, Novartis AG, Vertex Pharmaceuticals Incorporated, Pfizer Inc., FibroGen, Inc., and Pharmaxis Limited. Key players are majorly focused on new product launches, acquisitions and partnerships to strengthen their market position. For instance, in 2022, Novartis announced the launch of drugs like Jakavi to treat liver fibrosis associated with myelofibrosis.
For more details on the report, Read-
https://www.insightprobing.com/liver-fibrosis-treatment-market-demand-share-analysis/
Chronic liver disease, on the other hand, occurs over time, sometimes due to a reaction to certain medications or a mild genetic enzyme deficiency.
The two types of the disease are separated by a difference in symptoms, severity, and the treatment of the disease.The possible treatment options for liver fibrosis comprise the use of therapeutic immunosuppressive agents, surgical removal or dissolution of an obstruction in the bile channel, change in diet, lifestyle modifications like lower intake of alcohol and cholesterol, control of blood sugar and lipid levels, and even medications for symptomatic treatment.
Therapy options include combinations of pharmacological, nutritional, surgical, or complementary and alternative treatments.
For example, the Ayurvedic combination of Gastrodiazza (Moringa pteridosperms), Kutki (Picrorrhiza kurroa), Shatavari (Asparagus racemosus), Abhrak Bhasma, Suvarna Bhasma, Yashtimadhuk (Glycyrrhiza glabra), Chandan (Santalum album), Manjishtha (Rubia cordifolia), Saraiva (Hemidesmus indicus), Haridra (Curcuma longa), Amalaki (Emblica Officinalis), Patol (Tricosanthe dioica), Patha (Cissampelos pareira), Musta (Cyperus rotundus) and Nimba (Azadirachta indica).
This combination includes chemotherapy with carboplatin, bromocriptine, methotrexate, cisplatin, vincristine, vinblastine, gemcitabine, intravenous immunoglobulin, vitamin K, methotrexate, or combination treatment.
The combination of these two drugs reduces the amount of protein produced by the liver and thus prevents or delays the progression of liver fibrosis.
