The Fibrotic Diseases Treatment Market Size is valued at USD 3.57 billion in 2023 and is predicted to reach USD 5.40 billion by the year 2031 at a 5.53% CAGR during the forecast period for 2024-2031.
Treatment for fibrotic Diseases aims to manage and decelerate the progression of fibrosis, a condition characterized by the accumulation of extra connective tissue in organs, resulting in scarring and diminished functionality. These disorders can impact multiple organs, including the lungs (as seen in pulmonary fibrosis), liver (hepatic fibrosis or cirrhosis), kidneys, heart, and skin. Therapies for fibrotic disorders seek to diminish inflammation, prevent tissue fibrosis, and tackle underlying etiologies or related conditions.
Treatment options are being increased by ongoing research into innovative medicines such as targeted molecular agents. The need for efficient treatment drugs is anticipated to rise in response to the incresing prevalence of fibrotic disorders, including hepatic cirrhosis, pulmonary fibrotic diseases, renal fibrosis, and cutaneous fibrosis. This is anticipated to propel the fibrotic disease treatment market over the projected period.
Furthermore, since smoking is one of the risk factors for fibrotic disorders such as lung fibrosis and pulmonary fibrosis, the growing number of smokers is anticipated to support the fibrotic disease treatment market. Product introductions, alliances, and mergers and acquisitions will assist the businesses in broadening their geographic reach and range of products offered, which will support the fibrotic disease treatment market's profitable expansion.
Competitive Landscape
Some Major Key Players In The Fibrotic Diseases Treatment Market:
- AbbVie Inc.
- Accord Healthcare
- Alpine Immune Sciences
- BellBrook Labs
- BioMX
- Bristol-Myers Squibb Company
- H. Boehringer Ingelheim International GmbH
- Camber Pharmaceuticals, Inc.
- Enveda
- Genentech, Inc.
- Gilead Sciences, Inc.
- Intercept Pharmaceuticals, Inc.
- KITHER BIOTECH S.R.L.
- Pharmaxis Ltd
- Redx Pharma Plc
- Sandoz International GmbH
- Teva Pharmaceutical Industries Ltd.
- Verona Pharma plc
- Other Market Players
Market Segmentation:
The market of fibrotic disease treatment is segmented into treatment, application, end user, & distribution channel. As per the treatment, the market is segmented into Organ Transplantation, Medication, Oxygen Therapy, and Others. By application, the market is segmented into Hepatic Cirrhosis, Renal Fibrosis, Cutaneous Fibrosis, Idiopathic Pulmonary Fibrosis, and Others. By end user, the market is segmented into Specialty Clinics, Hospitals, Academic and Research Institutes, and Others. According to distribution channel, the market is categorised into Hospital Pharmacy, Retail Pharmacy, and Others.
Based On The Treatment, The Medication Segment Accounts For A Major Contributor To The Fibrotic Disease Treatment Market.
The medication category is expected to hold a major global market share in 2023. Fibrotic diseases can be treated with a variety of medications, such as nintedanib and pirfenidone. The category is driven by rising rates of fibrotic diseases, increased R&D efforts to introduce new and creative medicines to the market, and market participants' strategic initiatives that are anticipated to spur the fibrotic disease treatment market expansion throughout the projection period. Research and development efforts have made many new treatment options for a variety of ailments possible. Many medications for the treatment of illnesses have been developed as a result of developing technology developments and relevant research. The drug efficiently heals illnesses and stops their progression.
Hospitals Segment To Witnessed A Rapid Growth.
The market for fibrotic disease treatment is seeing expansion in the hospital sector due to a number of important considerations. Complex fibrotic disorders, like lung fibrosis, liver cirrhosis, and systemic sclerosis, which call for specialist medical care, are largely managed and treated in hospitals. Advancements in diagnostic technologies have resulted in hospitals increasingly employing biomarker-based assays and imaging modalities, facilitating earlier and more accurate diagnoses of fibrotic illnesses. Hospital care volumes have risen due to an aging population, an increase in chronic illnesses, as well as heightened awareness of the significance of early intervention.
In The Region, The North American Fibrotic Disease Treatment Market Holds A Significant Revenue Share.
The North American fibrotic disease treatment market is expected to record the biggest market share in the near future. Due to the high frequency of fibrotic disorders and the presence of significant industry players, the fibrotic disease treatment market in the region is expanding and providing a good environment for the development of new therapeutics. In addition, Asia Pacific is likely to grow rapidly in the global fibrotic disease treatment market because pulmonary fibrosis is becoming more common and because medical technology has advanced in the industry under study. The introduction of new products and calculated moves by major competitors in the industry will also help the fibrotic disease treatment market expand. Over the course of the projected period, the market is anticipated to rise as a result of the rising prevalence of fibrotic disorders like cystic fibrosis (CF). Additionally, the increased focus on fibrotic disease research and development may result in the release of improved medications, increasing patient access to the treatment.
Recent Developments:
- In Oct 2022, AbbVie declared the acquisition of D.J.S. Antibodies Ltd. D.J.S.'s primary program is DJS-002, a prospective first-in-class lysophosphatidic acid (L.P.A.) receptor 1 (LPAR1) antagonist antibody now undergoing experimental preclinical research for the treatment of Idiopathic Pulmonary Fibrosis (I.P.F.) and other fibrotic disorders. Idiopathic pulmonary fibrosis (I.P.F.) is a severe, high-mortality condition characterized by fibrotic lung scarring and continues to represent a significant unmet medical need.
Fibrotic Diseases Treatment Market Report Scope
|
Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 3.57 Bn |
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Revenue Forecast In 2031 |
USD 5.40 Bn |
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Growth Rate CAGR |
CAGR of 5.53% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Treatment, Application, End-User and Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
AbbVie Inc., Gilead Sciences, Inc., KITHER BIOTECH S.R.L., BioMX, Verona Pharma plc, Genentech, Inc., C.H. Boehringer Ingelheim International GmbH, Redx Pharma Plc, Alpine Immune Sciences, Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Camber Pharmaceuticals, Inc., Bristol-Myers Squibb Company, BellBrook Labs, Enveda, Intercept Pharmaceuticals, Inc., Pharmaxis Ltd, and Accord Healthcare |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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