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.
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.
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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.
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.