“Non-Alcoholic Steatohepatitis (NASH) Market”
Non-alcoholic steatohepatitis (NASH) market is expected to reach USD 180.09 billion by 2028, according to a new report from Reports and Data
The global non-alcoholic steatohepatitis (NASH) market is expected to reach USD 180.09 billion by 2028, according to a new report from Reports and Data. This can be mainly associated with the increase in fat consumption in the world. According to statistics, non-alcoholic fatty liver disease (NAFFLD) affects approximately 80 to 100 million Americans. NAFLD is expected to become the most common chronic liver disease in the world linked to obesity and type 2 diabetes in the coming years. Estimates suggest that the incidence of NASH is expected to increase by approximately 63% between 2015 and 2030.
The increase in the number of planned launches of drugs under development is also a significant factor driving the market demand. Current statistics for the United States suggest that the healthcare cost associated with NASH is approximately $5 billion. Given that the incidence of NASH is expected to increase significantly, estimates suggest that, if left unchecked, NASH-associated healthcare costs could reach $18 billion by 2030. The companies around the world have focused on bringing new drugs to the market for the treatment of the disease.
North America is expected to be a key revenue generating region during the forecast period. The market is expected to grow at a CAGR of 53% during the forecast period. The increasing incidence of diseases in the region has created a growth opportunity for drug manufacturers. Manufacturers focused on releasing new drugs. For example: recently in November 2019, Gilead Sciences, Inc. disclosed that its drug Accordingsertib, which is an anti-apoptotic and anti-inflammatory dual drug, is currently undergoing phase 3 trials for NASH-compensated cirrhosis and NASH fibrosis.
Other key findings from the report suggest:
- Elafibranor is expected to be one of the fastest growing drugs in the NASH market. The segment is expected to grow at a CAGR of 55.4% during the forecast period. The drug which is an oral treatment is the lead product in GENFIT’s pipeline. It has been positioned as a first class drug to treat NASH. The drug is currently being evaluated in the RESOLVE-IT Phase 3 clinical study.
- The North American market is expected to grow at a CAGR of 53% in the coming years. The disease is considered one of the leading causes of cirrhosis in adults in the United States. The high incidence of diabetes and obesity in the region is believed to be the main reason for the rising incidence of NASH. According to the National Medical Advisory Committee of the American Liver Foundation, approximately 30 million Americans have currently been diagnosed with NASH. In addition, approximately 90% of NASH patients suffer from obesity or diabetes.
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Asia-Pacific is expected to lead the market growth over the next few years owing to the rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is expected to witness the highest market growth over the forecast period, owing to increasing availability of robust healthcare facilities and clinics, legalization of medical marijuana, a favorable reimbursement scenario, presence of key market players and rapid technological advancements in the region.
Rising popularity of over-the-counter drugs is driving the growth of the market
Rising incidence of acute and chronic diseases and limited access to advanced medical facilities due to low levels of disposable income are driving the demand for over-the-counter drugs. The availability of inexpensive, generic alternatives to medical therapies is another factor that plays a major role in the demand for over-the-counter drugs.
Restriction on product launches and R&D activities to hamper market growth
Imposition of strict government regulations and lack of funds have halted product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing safety and approval regulations are also hampering the market growth.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, licensing agreements, partnerships, mergers and acquisitions, collaborations and joint ventures to gain a strong foothold in the market.
Key Companies Featured in the Report:
Genfit, Intercept Pharmaceuticals, Gilead Sciences, Galmed Pharmaceuticals, Inventiva, Allergan and Tobira Therapeutics.
Non-Alcoholic Steatohepatitis (NASH) Market Segmentation:
Insights into Disease Causes (Revenue, USD Million; 2018-2028)
- heart disease
- High blood lipids
- Type 2 diabetes
Drug Type Outlook (Revenue, USD Million; 2018-2028)
- Vitamin E & Pioglitazone
End User Outlook (Revenue, USD Million; 2018-2028)
- Home care settings
- North America (United States, Canada, Mexico)
- Europe (Germany, UK, Italy, France, BENELUX, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific)
- Latin America (Brazil, rest of LATAM)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of Middle East and Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Non-Alcoholic Steatohepatitis (NASH) market during the forecast period?
- What are the key growth drivers of the Global Non-Alcoholic Steatohepatitis (NASH) Market?
- What are the key challenges impacting the growth of the global Non-Alcoholic Steatohepatitis (NASH) market?
- What are the results of the SWOT analysis and Porter’s five forces analysis conducted in the report?
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