The global Non-alcoholic Steatohepatitis (NASH) market is expected to reach USD 180.09 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with increasing consumption of fats globally. Based on statistics, Nonalcoholic Fatty Liver Disease (NAFFLD) affects around 80 million to 100 million Americans. NAFLD is expected to become the most common chronic liver condition globally in relation to the obesity and type 2 diabetes in the coming years. Estimates suggest that the incidence of NASH is projected to witness an increase of around 63% between 2015 and 2030.
Increase in the number of expected launch of pipeline drugs is also a significant factor stimulating market demand. The current statistics for the U.S. suggest that the healthcare cost associated with NASH is around USD 5 billion. Since the incidence of NASH is projected to rise significantly, estimates suggest that, if unchecked, the healthcare costs associated with NASH could rise up to USD 18 billion by 2030. Companies around the world have been focusing on bringing out new drugs in the market for the treatment of the disease.
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Increasing prevalence of obesity coupled with rising adoption of sedentary lifestyle is the major factor influencing market growth – Our Expert Opinion
North America is expected to be a key revenue generating region in the forecast period. The market is projected to grow at a CAGR of 53% in the forecast period. Increasing incidence of disease in the region has created a growth opportunity for the drug makers. Manufacturers have been focusing on bringing out new drugs. For instance: Recently in November 2019, Gilead Sciences, Inc. unveiled that its drug Selonsertib which is a dual anti-apoptotic and anti-inflammatory drug is currently undergoing Phase-3 trials for NASH compensated cirrhosis and NASH fibrosis.
Further key findings from the report suggest:
- Elafibranor is projected to be one of the fastest growing drugs of the NASH market. The segment is projected to grow at a CAGR of 55.4% in the forecast period. The drug which is an oral treatment is GENFIT’s lead pipeline product. It has been positioned as a first-in-class drug to treat NASH. The drug is currently being evaluated in the clinical Phase 3 study RESOLVE-IT.
- North American market is forecasted to grow at a CAGR of 53% in the coming years. The disease is considered to be one of the leading causes of cirrhosis in adults in the U.S. High incidence of diabetes and obesity in the region are considered to be the main reason behind increasing incidence of NASH. Based on American Liver Foundation’s National Medical Advisory Committee currently around 30 million Americans have been diagnosed with NASH. Additionally, around 90% of the NASH patients suffer from either obesity or diabetes.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on 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 regulations regarding safety and approvals 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, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
Genfit, Intercept Pharmaceuticals, Gilead Sciences, Galmed Pharmaceuticals, Inventiva, Allergan and Tobira Therapeutics
Non-Alcoholic Steatohepatitis (NASH) Market Segmentation:
Disease Cause Outlook (Revenue, USD Million; 2018-2028)
- Heart Disease
- High Blood Lipid
- Type 2 Diabetes
Drug Type Outlook (Revenue, USD Million; 2018-2028)
- Vitamin E & Pioglitazone
End-user Outlook (Revenue, USD Million; 2018-2028)
- Homecare settings
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., 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 & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Non-Alcoholic Steatohepatitis (NASH) market over the forecast period?
- What are the major factors driving the growth of the Global Non-Alcoholic Steatohepatitis (NASH) Market?
- What are the key challenges impacting the global Non-Alcoholic Steatohepatitis (NASH) market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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