Rising Prevalence of Fibrotic Diseases Drives the Demand for the Global Fibrotic Diseases Treatment Market

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).

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For instance,

• In July 2022, according to the article published in National Center for Biotechnology Information (NCBI), the study included a total of 2,005 subjects (mean age, 50.7 years; 47% men), Sarcoidosis (37.3%) was the most common ILD subtype followed by connective tissue disease (CTD)-related ILDs (19.3%), idiopathic pulmonary fibrosis (IPF, 17.0%), and hypersensitivity pneumonitis (HP, 14.4%).
• In October 2021, according to the article published by National Center for Biotechnology Information (NCBI), Nintedanib-treated patients were slightly older than pirfenidone-treated patients. Pirfenidone-treated patients presented a shorter latency from diagnosis to treatment. Apart from a few exceptions, the comorbidity profile was similar in both groups.

Data Bridge Market Research analyzes that the Global Fibrotic Diseases Treatment Market is expected to grow with a CAGR of 6.99% respectively in the forecast period of 2023 to 2030 and is expected to reach USD 87,26,018.84 thousand, respectively. The treatment segment is projected to propel market growth as the development of fibrotic diseases drug products is rising worldwide.

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.

Report Scope and Market Segmentation

Segment Analysis:

The global fibrotic diseases treatment market is categorized into four notable segments such as treatment, application, end user, and distribution channel.

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

In 2023, the medication segment is expected to dominate in the global fibrotic diseases treatment market due to a rise in different types of effective fibrotic diseases drug products

In 2023, the medication segment is expected to dominate the global fibrotic diseases treatment market with an 84.88% market share and is expected to reach USD 7,478,703.18 thousand by 2030, growing with a CAGR of 7.1% in the forecast period of 2023 to 2030.

• On the basis of application, the global fibrotic diseases treatment market is segmented into idiopathic pulmonary fibrosis, hepatic cirrhosis, renal fibrosis, cutaneous fibrosis, and others. In 2023, the idiopathic pulmonary fibrosis segment is expected to dominate the global fibrotic diseases treatment market with a 41.89% market share and is expected to reach USD 39,29,537.88 thousand by 2030, growing with a CAGR of 8.1% in the forecast period of 2023 to 2030.
• On the basis of end user, the global fibrotic diseases treatment market is segmented into hospitals specialty clinics, academic and research institutes. In 2023, the hospitals segment is expected to dominate the global fibrotic diseases treatment market with a 48.33% market share and is expected to reach USD 43,47,571.19 thousand by 2030, growing with a CAGR of 7.5% in the forecast period of 2023 to 2030.
• On the basis of distribution channel, the global fibrotic diseases treatment market is segmented into hospital pharmacy, retail pharmacy, and others. In 2023, the hospital pharmacy segment is expected to dominate the global fibrotic diseases treatment market with a 50.54% market share and is expected to reach USD 45,22,567.14 thousand by 2030, growing with a CAGR of 7.4% in the forecast period of 2023 to 2030.

Major Players

Data Bridge Market Research recognizes the following companies as the market players in the global fibrotic diseases treatment market that include Genentech, Inc. (U.S.), C.H. Boehringer Ingelheim International GmbH (Germany), AbbVie Inc. (U.S.), Redx Pharma Plc (U.K.), Bristol-Myers Squibb Company (U.S.), BellBrook Labs (U.S.), Enveda Biosciences (U.S.), BioMX (Israel), Gilead Sciences, Inc. (U.S.), KITHER BIOTECH S.R.L. (Itlay), Verona Pharma plc (U.K.), Alpine Immune Sciences (U.S.), Intercept Pharmaceuticals, Inc. (U.S.), Pharmaxis Ltd (Austrailia), Teva Pharmaceutical Industries Ltd. (Israel), Sandoz International GmbH (Switzerland), Accord Healthcare (U.S.), and Camber Pharmaceuticals, Inc. (U.S.) among others.

Market Development

• In December 2022, AbbVie and HotSpot Therapeutics, Inc., a biotechnology company pioneering the discovery and development of small molecule allosteric therapies for the treatment of cancer and autoimmune diseases, announced an exclusive worldwide collaboration and option to license agreement for HotSpot's discovery-stage IRF5 program for the treatment of autoimmune disease. This collaboration has helped the company to expand globally.
• In October 2022, Verona Pharma plc announced additional exacerbation* subgroup analyses from the Phase 3 ENHANCE-2 ("Ensifentrine as a Novel inHAled Nebulized COPD thErapy") trial in chronic obstructive pulmonary disease ("COPD"). This has helped the company to get established in the market.
• 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 will acquire 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 is anticipated to close during the third quarter of 2022. This acquisition has helped the company to increase its global presence in the market.
• In March 2022, Genentech, a member of the Roche Group announced that the Phase III SKYSCRAPER-02 study, evaluating the investigational anti-TIGIT immunotherapy tiragolumab plus Tecentriq (atezolizumab) and chemotherapy (carboplatin and etoposide) as an initial (first-line) treatment for people with extensive-stage small cell lung cancer (ES-SCLC), did not meet its co-primary endpoint of progression-free survival. This has helped the company to expand globally.

Regional Analysis

Geographically, the countries covered in the global fibrotic diseases treatment report are (U.S., Canada, Mexico, Dominican Republic, Jamaica, Panama, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Taiwan and Rest of Asia-Pacific, Brazil, Ecuador, Chile, Colombia, Venezuela, Argentina, Peru, Curaçao, Paraguay, Uruguay, Trinidad And Tobago, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Kuwait, Bahrain, Israel, Rest of Middle East and Africa).

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in the fibrotic diseases treatment market during the forecast period 2023 - 2030

In 2023, Asia-Pacific is expected to dominate the fibrotic diseases treatment market owing to the higher level of investments by Japan manufacturers and the increasing prevalence of treatment products in Japan. Asia-Pacific will continue to dominate the fibrotic diseases treatment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and the launch of new products in this region.

North America is expected to be the fastest-growing region with the highest CAGR in the global process safety services market during the forecast period 2023 - 2030

Additionally, the increasing number of cases of fibrotic diseases and the rising development of medication products are expected to further enhance the market's growth rate in this region.

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