Industry Background:
Liver fibrosis is the scarring process that signifies the livers response to injury. As skin and other organs heal injuries through deposition of collagen same way the liver repairs injury through the deposition of new collagen. Fibrosis is the term used to describe mild scarring in the liver, which happens when the liver is repeatedly or continuously damaged. Hepatotropic drug enables safe and efficient treatment for reducing fibrosis in patients.
According to AMA Research, the market for Liver Fibrosis Drug is expected to register a CAGR of 11.0% during the forecast period to 2030. This growth is primarily driven by Increasing Prevalence of Liver Diseases.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Diseases & Therapeutic Areas sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Bristol-Myers Squibb Company (United States), Gilead Sciences, Inc. Company (United States), Pharmaxis Limited (Australia), LG Life Science Ltd. (South Korea), Novartis AG (Switzerland), Vertex Pharmaceuticals Incorporated (United States), Biotest (Germany), GlaxoSmithkline (United Kingdom), Merck & Co. (United States) and Digna Biotech, S.L. (Spain), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
January 9, 2019: Gilead Sciences, Inc. and Yuhan Corporation announced that the companies have entered into a licensing and collaboration agreement to co-develop novel therapeutic candidates for the treatment of patients with advanced fibrosis due to nonalcoholic steatohepatitis (NASH).
In January 2024, Boehringer Ingelheim signed a partnership deal with Suzhou Ruibo Biotechnology and its subsidiary Ribocure Pharmaceuticals to discover and develop siRNA therapeutics for liver fibrosis.The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined collaborations.
Regulatory Insights:
FDA encourages the sponsor to use animal models for NASH to screen and identify potential investigational drugs. The sponsor should select a specific animal model based on the mechanism of action of the investigational drug.
Influencing Trend:
Increasing Risk of Lung Cancer
Market Growth Drivers:
Increasing Prevalence of Liver Diseases
Challenges:
Risks of Side-Effects Associated with Liver Disease Medications and Liver Fibrosis may cause Liver Cirrhosis
Restraints:
High Cost Incurred in Research and Development
Opportunities:
Rising R&D Investments for the Development of Novel Therapies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Liver Fibrosis Drug Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Liver Fibrosis Drug Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Liver Fibrosis Drug players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Liver Fibrosis Drug Study Sheds Light on
The Liver Fibrosis Drug Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Liver Fibrosis Drug industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Liver Fibrosis Drug industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.