July 24, 2024
Liver Fibrosis Treatment Market

Cloud computing is fastest growing segment fueling growth of Liver Fibrosis Treatment Market

Liver fibrosis is characterized by the excessive accumulation of extracellular matrix in the liver leading to distortion of normal liver architecture and development of scar tissue known as fibrosis. Liver fibrosis can progress to cirrhosis, which is advanced scarring of the liver. If left untreated, it can increase the risk of life-threatening complications such as liver cancer or liver failure. Liver fibrosis treatments aim to reduce or reverse the formation of scar tissue in the liver.

Market Overview:
Liver fibrosis treatments include antifibrotic drugs, gene therapies, and regenerative therapies. Antifibrotic drugs such as combinations of interferon & ribavirin and DAAs (Direct-Acting Antivirals) target the underlying cause of liver disease by fighting viral infections. Gene therapies are novel molecular therapies that introduce genetic material into liver cells to reduce fibrosis. Regenerative therapies involving cell & gene therapies help repair damaged liver tissue.

Market key trends:
One of the key trends in the liver fibrosis treatment market is the growing adoption of cloud-based treatment models. The increasing digitization of healthcare has led to more treatment providers adopting cloud computing solutions for delivery of advanced therapies. Cloud platforms help streamline treatment processes, enable remote patient monitoring, and facilitate collaboration between providers and biotech firms developing novel therapies. This is expected to drive the demand for cloud-based liver fibrosis treatment solutions over 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.

Segment Analysis
The global liver fibrosis treatment market is segmented by drug class into antiviral drugs, antifibrotic agents, immunomodulators, and others. The antiviral drugs segment currently dominates the market due to the high prevalence of viral hepatitis as a primary cause of liver fibrosis. Antiviral drug treatments targeting hepatitis B and C viruses are widely adopted to prevent progression of fibrosis by inhibiting viral replication.

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 research focus on developing novel antifibrotic therapies.

Regional analysis
North America currently dominates the global liver fibrosis treatment market due to strong healthcare infrastructure and high adoption of advanced treatment options in the region. Asia Pacific is expected to be the fastest growing market, exhibiting a CAGR of over 12% during the forecast period. This can be attributed to rising prevalence of chronic liver disease in developing economies of China and India.

Key players
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. Gilead’s antiviral drugs for hepatitis B and C are a dominant treatment option for inhibiting disease progression and reducing liver fibrosis. Merck has a strong pipeline of novel antifibrotic therapies that could drive future market growth.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it