Fibrotic Diseases Treatment Market Industry Overview & Size, Share by Company, Trends and Growth Analysis

PRESS RELEASE
Published November 8, 2023

Fibrotic Diseases Treatment Market research report is the comprehensive analysis on the study of HEALTHCARE industry. In this regard, it estimates current CAGR of the Fibrotic Diseases Treatment Market. The report gives evaluations of the product and application that is expected to show the highest market growth in the HEALTHCARE industry. Moreover, the report figures out whether there will be any changes in market competition during the forecast period. It estimates the region that is foretold to create the most number of opportunities in the global market. A wide ranging Fibrotic Diseases Treatment Market report highlights exhaustive study of major market along with present and forecast market scenario with valuable business decisions.

The term fibrosis describes the development of fibrous connective tissue as a reparative response to injury or damage. Fibrosis may refer to the connective tissue deposition that occurs as part of normal healing or to the excess tissue deposition that occurs as a pathological process. Diseases characterized by uncontrolled, progressive fibrosis include Idiopathic Pulmonary Fibrosis (IPF), Non-Alcoholic Steatohepatitis (NASH), and Systemic Sclerosis (SSc).

The global fibrotic diseases treatment market is supportive and aims to reduce the progression of the diseases. Data Bridge Market Research analyses that the global fibrotic diseases treatment market will grow at a CAGR of 7.0% during the forecast period of 2023 to 2030.

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Market Overview:

The term fibrosis describes the development of fibrous connective tissue as a reparative response to injury or damage. Fibrosis may refer to the connective tissue deposition that occurs as part of normal healing or to the excess tissue deposition that occurs as a pathological process. Diseases characterized by uncontrolled, progressive fibrosis include Idiopathic Pulmonary Fibrosis (IPF), Non-Alcoholic Steatohepatitis (NASH), and Systemic Sclerosis (SSc).

Fibrosis is a group of serious organ/tissue diseases that affect the tissue system. Fibrosis scars and thickens the tissue. It impacts the connecting tissue, for instance, in the lung and the alveoli (air sacs inside the lungs). The lung damage gradually gets worse over time. Hard, stiff lung tissues don’t expand as well as they should, making it harder to breathe. Pulmonary fibrosis may cause shortness of breath when you do routine tasks that never seemed tiring before.

Surging Level of Investment in the Development of Innovative Fibrosis Disease Treatment

The market players operating their businesses in transfection are continuously investing their money to achieve the best outcome. These companies are also getting funding from third-party sources, boosting their activities. Several types of investments are accelerating the research and developmental activities of transfection products, and by time-to-time, new products are adding on to the existing established market.

For instance,

  • In May 2022, Boehringer Ingelheim, a leading research-driven biopharmaceutical company, and ArisGlobal, the global market leader in drug safety solutions worldwide, announced the acquisition of Boehringer Ingelheim’s digital innovation, BRASS, by ArisGlobal. This data insights engine will be integrated into ArisGlobal’s technology platform, LifeSphere, under the name of LifeSphere Clarity and will play a key role in driving industry-wide advancement of pharmacovigilance and patient safety. This has helped the company to expand its clinical diagnostics business across various regions of the world and helped to increase its global presence in the market.

The investments done by several companies allowed the development and introduction of new and innovative treatment products in the market. This thus signifies that the surging level of investment is acting as an opportunity for the global fibrotic diseases treatment market growth.

Drivers

  • Rising prevalence of fibrotic diseases

Due to various risk factors such as aging, obesity, high blood pressure (hypertension), or family history of fibrotic disease, patients with fibrotic diseases are rising globally and becoming a significant socio-economic issue. Thus, the rising number of patients with fibrotic diseases increases the demand for treatment, which act as a driver in the fibrotic diseases treatment market.

  • Increase in the number of people smoking cigarettes

Cigarette smoking is one of the most recognized risk factors for the development of Idiopathic Pulmonary Fibrosis (IPF). Furthermore, recent work suggests that smoking may have a detrimental effect on the survival of patients with IPF. The mechanism by which smoking may contribute to the pathogenesis of IPF is largely unknown. However, accumulating evidence suggests that increased oxidative stress might promote disease progression in IPF patients who are current and former smokers.

Thus cigarette smoke contains particulate matter as well as numerous chemicals, including highly toxic RONS, which increases the swelling inside the body and hence lead to various diseases, including pulmonary fibrosis, cancer among others, which is expected to drive the growth of fibrotic diseases treatment market.

  • Technological advancement in the treatment of fibrosis diseases

IPF is characterized by the progressive accumulation of scar tissue in the lung and is associated with a median life expectancy of 2–4 years. Until recently, treatment options were limited, focusing on ineffective anti-inflammatory therapy, palliation, transplant, or trial recruitment. Significant recent advances in the field have led to two novel anti-fibrotic agents, pirfenidone and nintedanib, which have been shown to significantly slow disease progression in IPF.

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Recent Development

  • In May 2022, Boehringer Ingelheim, a leading research-driven biopharmaceutical company, and ArisGlobal, the global market leader in drug safety solutions worldwide, announced the acquisition of Boehringer Ingelheim’s digital innovation, BRASS, by ArisGlobal. This data insights engine will be integrated into ArisGlobal’s technology platform, LifeSphere, under the name of LifeSphere Clarity and will play a key role in driving industry-wide advancement of pharmacovigilance and patient safety. This has helped the company to expand its clinical diagnostics business across various regions in the world and helped to increase the global presence in the market
  • In March 2022, Bristol Myers Squibb and Turning Point Therapeutics, Inc. announced a definitive merger agreement under which Bristol Myers Squibb acquired Turning Point Therapeutics for USD 76.00 per share. The transaction was unanimously approved by both the Bristol Myers Squibb and Turning Point Therapeutics Boards of Directors and was anticipated to close during the third quarter of 2022. This acquisition has helped the company to increase its global presence in the market.

 What benefits does the DBMR study is going to provide?

  • Latest industry influencing trends and development scenario
  • Open up New Markets
  • To Seize powerful market opportunities
  • Key decision in planning and to further expand market share
  • Identify Key Business Segments, Market proposition & Gap Analysis
  • Assisting in allocating marketing investments

The global fibrotic diseases treatment market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies’ focus on the global fibrotic diseases treatment market.

Some players in the global fibrotic diseases treatment market are Genentech, Inc., C.H. Boehringer Ingelheim International GmbH, AbbVie Inc., Redx Pharma Plc, Bristol-Myers Squibb Company, BellBrook Labs, Enveda Biosciences, BioMX, Gilead Sciences, Inc., KITHER BIOTECH S.R.L., Verona Pharma plc, Alpine Immune Sciences, Intercept Pharmaceuticals, Inc., Pharmaxis Ltd, Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Accord Healthcare, and Camber Pharmaceuticals, Inc among others.

Fibrotic Diseases Treatment Market Segmentation

Treatment

  • Medication
  • Organ Transplantation
  • Oxygen Therapy
  • Others

On the basis of treatment, the fibrotic diseases treatment market is segmented into medication, organ transplantation, oxygen therapy, and others.

Application

  • Idiopathic pulmonary fibrosis
  • Hepatic cirrhosis
  • Renal fibrosis
  • Cutaneous fibrosis
  • Others

On the basis of application, the fibrotic diseases treatment market is segmented into idiopathic pulmonary fibrosis, hepatic cirrhosis, renal fibrosis, cutaneous fibrosis, and others.

End User

  • Government organization
  • Hospitals
  • Academic and research institutes
  • Others

On the basis of end user, the fibrotic diseases treatment market is segmented into hospitals, specialty clinics, academic and research institutes, and others.

Distribution Channel

  • Hospital pharmacy
  • Retail pharmacy
  • Others

Key Advantages of the Report: 

  • This study provides an analytical overview of the industry, including current trends and future predictions to identify potential investment opportunities.
  • The report offers insights into key drivers, limitations, and prospects, along with a comprehensive market share analysis.
  • The report quantitatively assesses the current market, shedding light on its growth prospects.
  • A Porter’s five forces analysis gauges the bargaining power of buyers and suppliers in the market.
  • The report delivers an in-depth market analysis that considers competitive dynamics and forecasts the future competitive landscape.

What to Anticipate from the Report – A 7-Point Guide:

  • The report delves into the holistic strategy and innovation within the market ecosystem.
  • It highlights prominent market drivers and obstacles, providing clarity on technological standardization and regulatory frameworks.
  • The report evaluates various implementation models and examines numerous use cases.
  • Serving as a valuable resource, the report offers essential industry insights, showcasing information on new investments, stakeholders, relevant contributors, and market participants.
  • Through the forecast period, the report conducts a thorough market analysis, referencing historical developments, ongoing events, and future growth prospects.

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