Liver fibrosis is a condition characterized by excessive deposition of extracellular matrix proteins in the liver. It is caused due to long term damage to the liver due to various reasons such as alcoholic liver disease, viral hepatitis infections, non-alcoholic fatty liver disease and others. Treatment of liver fibrosis relies on addressing the underlying cause of injury and preventing progression to cirrhosis or liver cancer. The global liver fibrosis treatment market offers drugs which prevent further scarring of the liver and helps in regenerating lost liver cells.
The global liver fibrosis treatment Market is estimated to be valued at US$ 16.29 Bn in 2023 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 Opportunity:
According to World Health Organization (WHO), chronic liver diseases caused 2 million deaths in 2015 globally with mortality rates increasing in many countries due to non-communicable diseases. Conditions causing liver fibrosis such as alcohol abuse, hepatitis B and C infections, and non-alcoholic fatty liver disease (NAFLD) are on the rise attributing to high risk of progression to end stage liver diseases. The growing disease burden provides scope for development and commercialization of new drug molecules and advanced treatment options for efficient management of liver fibrosis. Development of novel anti-fibrotic drugs targeting molecular pathways involved in scar formation can help curb the rising mortality rates associated with liver cirrhosis and cancer.
Porter’s Analysis
Threat of new entrants: The liver fibrosis treatment market has significant barriers to entry due high research and development costs for new treatment drugs and therapies. Existing key players have established brand name and distribution channels.
Bargaining power of buyers: The bargaining power of buyers is moderate in this market. However, the availability of alternative treatment options provides buyers with some bargaining power.
Bargaining power of suppliers: A few major suppliers dominate the raw material components for liver fibrosis treatments. This gives them significant bargaining power over buyers.
Threat of new substitutes: The threat of new substitutes is moderate as researchers continue exploring new drugs and combination therapies for treating liver fibrosis.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of multinational established brands.
SWOT Analysis
Strengths: The increasing global prevalence of chronic liver diseases and the lack of effective curative treatments present a large growth opportunity.
Weaknesses: High costs associated with R&D, clinical trials and production of liver fibrosis drugs make them inaccessible for many patients. Side effects of existing drugs hamper treatment compliance.
Opportunities: Advances in research focusing on developing more effective and affordable therapies can boost the market potential. Growing alcoholic and non-alcoholic liver disease populations also present opportunities.
Threats: Stringent regulatory processes and delays in drug approvals can negatively impact market revenues. Patent expiries of blockbuster drugs introduce competition from generics.
Key Takeaways
The global liver fibrosis treatment market is expected to witness high growth over the forecast period driven by the rising load of non-alcoholic fatty liver disease and increasing research into new treatment targets and drugs. The global liver fibrosis treatment Market is estimated to be valued at US$ 16.29 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030.
Regional analysis shows North America dominates currently due to advanced healthcare infrastructure and high treatment costs. However, Asia Pacific is likely to see the fastest gains owing to improving access to healthcare and a huge patient population in China and India.
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. Major players are focusing on collaborations to develop novel therapies.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it