As stated in our extensive report, providing insights on Drug Type and Sales Channel; the global Market accounted forUSD 1,569 Millionin 2021.
A nonalcoholic steatohepatitis is a form of liver disease observed in not alcoholic patients. It is also called silent liver disease and the main feature of this NASH is inflammation and fat deposition in the liver.
High demand for ideal NASH therapeutics, the launch of new drugs in the market, and the rising prevalence of NASH are factors that bolster the growth of the Market in the coming years. In addition, increasing diabetes & obesity patients, and raising awareness about in developing regions are propelling the growth of Market over the projected period. On the other hand, lack of ideal diagnostic techniques and less diagnosis of the disease is expected to hinder the growth of the Market.
The COVID-19 outbreak has affected various industries worldwide. The Market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the sand control solutions market. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online.
As no FDA approval for any drug to treat NASH, the first line of approach to treating the patients with NASH is nothing but lifestyle improvement. With this regard, pioglitazone and vitamin E are used as first-line of drugs and these drugs provide high efficacy. Nonalcoholic fatty liver disease has become a major focal point in countries like the United States. Extreme obesity, the quality of fast foods, and lack of attention to overall health continue to raise concerns in the general population. However, resolving this challenge is not a straightforward matter.
North America is accounted to witness the fastest growth of market during the forecast period. Some factors such as the rapid rise in prevalence of NASH, growth in diagnostic techniques, growth in economies, and increase in demand for NASH therapeutics are bolstering the market growth in this region. Some other factors such as emerging economies, developing healthcare infrastructure, and rate of diagnosis are further expected to create lucrative growth opportunities for Market in this region. Moreover, an increase in healthcare awareness in the emerging economies such as India and China, further propelling the growth of Market.
Some of the prominent players operating in the Global Marketare -Genfit, Allergan plc (Tobira Therapeutics, Inc.), Bristol-Myers Squibb Company, Conatus Pharmaceuticals, Galectin Therapeutics, Inc..