Nonalcoholic Steatohepatitis Therapeutics Market: Developed Economies Serve as a Fertile Ground for Growth in Nonalcoholic Steatohepatitis Therapeutics
Non-alcoholic Steatohepatitis Therapeutics Market
Non-alcoholic steatohepatitis is a type of liver disease diagnosed in people who are non-alcoholic or consume alcohol in very low amount. Non-alcoholic steatohepatitis (NASH) is one of the commonly diagnosed liver diseases. The diseases is also referred to as silent liver disease. Fat deposition in liver along with inflammation is one of the significant condition that occurs during the disease.
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With the surge in the number of non-alcoholic steatohepatitis incidence, demand for non-alcoholic steatohepatitis therapeutics is also increasing subsequently. As a result, multiple drugs are being launched. These drugs aim to provide relief from the disease. According to market analysts, the non-alcoholic steatohepatitis therapeutics market is anticipated to witness double digit growth in coming years.
In addition, growing prevalence of diabetes and obesity will also supplement the growth rate of the market. Rising awareness among people about therapeutics also play vital role in propagating expansion of the market in various regions across the world.
However, poor diagnostics and lack of proper diagnostic technique may restrain growth of the market in coming years.
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For treatment of non-alcoholic steatohepatitis (NASH), lifestyle intervention is the first step to manage the disease. There is no FDA-approved drug for treatment of NASH till now. Further, medical practitioners recommend vitamin E and pioglitazone. They are considered as first line drugs. Thus, vitamin E & pioglitazone is the leading drug segment in NASH therapeutics market due to its high efficacy. Other segments are elafibranor, obeticholic acid (OCA), selonsertrib & cenicriviroc.
Moving forward, seloncertib & ceniccriviroc and elafibranor are anticipated to show substantial growth in coming years. This is due to its effectiveness in case of severely affected NASH patients.
Distribution channel is playing a major role in the growth of NASH market. It is estimated that retail pharmacy has emerged a leading contributor to the market, in terms of revenue. It is anticipated to dominate in future as well, due to presence of drug stores and retail pharmacies around the world.
Recently, the online provider segment is an emerging sector. The segment is anticipated to contribute substantially to non-alcoholic steatohepatitis therapeutics market.
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Nonalcoholic Steatohepatitis Therapeutics Market: Overview
The nonalcoholic fatty liver diseases (NAFLD) at times may lead to nonalcoholic steatohepatitis (NASH), which is a chronic condition that may be as severe to be fatal as well. To avoid these conditions, there is an urgent demand of nonalcoholic steatohepatitis therapeutics in the global market. Another reason for the rise in demand for nonalcoholic steatohepatitis therapeutics is the increase in the number of people suffering from obesity and diabetes, which damages the liver. The disease is more prevalent in western nations. Although the symptoms of is found almost in all the regions and other demographics, the disease still prevails in younger children. The initial stage of cirrhosis can be cured with proper treatments and medications, for which the healthcare centers and physicians need proper therapeutics. This boosts the market growth significantly for nonalcoholic steatohepatitis (NASH) therapeutics in the market.
The several factors affecting the market demand is also contributing in the global expansion in coming years with a significant CAGR of 10.7% during the forecast period from 2015 to 2025. The market value is also estimated to be worth US$ 20.27 bn by the end of predicted time frame 2025. The rise in over-weight people and the cases of diabetes in the US people are prevailing steadily boosting the market demand for nonalcoholic steatohepatitis therapeutics.
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Increased cases of Diabetes and Obesity Stirs up the Market Demand
The rise in number of cases suffering from NAFLD and NASH are quite common all over the globe. However, the number increases in developed economies such as North America. This gives a perfect scope to the firms and research centers looking to invest in the market. Not just that, the population of children suffering from obesity has increased almost thrice in number in past few years that calls for the urgent treatment methods to keep a check and cure the disease in its initial stages. People in America also suffer commonly from high cholesterol levels in their body. Although, there is no exact cure for the disease, the treatment are still being developed and worked upon. Moreover, the advancement in technology and the continuous effort by the research firms to find out a more effective treatment methods drives the market growth of nonalcoholic steatohepatitis therapeutics.
Developed Economies Serve as a Fertile Ground for Growth in Nonalcoholic Steatohepatitis Therapeutics
Based on the type of drug, the global market is segmented into potential phase III candidates for example Obeticholic acid (OCA), Saroglitazar, Elafibranor, and Aramchol. Elafibranor demonstrate the highest growth rate, accounting to maximum shares in the market. The drug is favored widely as it is the most advanced drug discovered till now that helps in reducing the effects of the disease. Obeticholic acid (OCA) follows Elafibranor in terms of most used drug and market revenue. There are other drugs as well in phase I and phase II trials.
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On the basis of geographical regions, the market is segmented into North America, Middle East and Africa, Latin America, Europe, and Asia Pacific. Europe and North America regiona re the major regions being affected by NASH due to increase in population suffering from diabetes and obesity. Moreover, prevailing cases of high cholesterol, change in lifestyle, also makes North America a fertile ground for the future scope of development and market growth. In Europe region, countries such as Italy, Spain, Germany, the UK and France are the major areas where the disease is prevalent. They serve as high growth areas for of nonalcoholic steatohepatitis therapeutics market.
Intercept Pharmaceuticals Inc., GENFIT SA, Zydus Cadila, Conatus Pharmaceuticals, and Tobira Therapeutics, Inc., Astazeneca Plc., Galmed Pharmaceuticals Ltd., Gilead Sciences, Inc., and Immuron Ltd. are some of the major companies leading the nonalcoholic steatohepatitis therapeutics market. All of them and even new entrants are striving to develop more effective treatment for NASH disease.
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