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Non-Alcoholic Steatohepatitis (NASH) Global Market is Booming Across the Globe and Witness Huge Growth By Key Players To 2033 | The Business Research Company
Non-Alcoholic Steatohepatitis (NASH) Global Market
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According to The Business Research Company's, The non-alcoholic steatohepatitis (NASH) market size has grown exponentially in recent years. It will grow from $3.33 billion in 2023 to $4.54 billion in 2024 at a compound annual growth rate (CAGR) of 36.3%. The growth in the historic period can be attributed to rising prevalence of NASH, obesity epidemic, growing awareness and diagnoses, shift in lifestyle and dietary patterns, healthcare infrastructure development.
The non-alcoholic steatohepatitis (NASH) market size is expected to see exponential growth in the next few years. It will grow to $14.53 billion in 2028 at a compound annual growth rate (CAGR) of 33.7%. The growth in the forecast period can be attributed to advancements in NASH drug development, increasing NASH screening initiatives, rising healthcare expenditure, collaborative research efforts, government support and regulations. Major trends in the forecast period include focus on lifestyle interventions and patient education, increased collaboration in clinical research, regulatory advancements and pathway designations, integration of artificial intelligence in diagnosis and monitoring.
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Market Drivers and Trends:
The rising cases of obesity is driving the demand for the non-alcoholic steatohepatitis (NASH) market going forward. Obesity is an aberrant or excessive fat build-up that poses a health concern, as well as body weight that is higher than what is deemed healthy or typical for a person of a specific height. As non-alcoholic fatty liver disease has become more prevalent due to the rising obesity pandemic, NASH may become the most widespread cause of severe liver disease in the ensuing decades, therefore, driving need for NASH treatment and related drugs. For instance, in April 2021, according to the COVID-19 and Obesity: The 2021 Atlas, a report published by the World Obesity Federation, a UK-based federation that represents professional members of the scientific 2021, percentage of overweight adults recorded more than 60% of the US population, however, the obesity percentage of male expected to reach 44.2% and female 44.4% by 2025 in the US population. Therefore, the rise in the cases of obesity will drive the growth of the Non-Alcoholic Steatohepatitis (NASH) market.
Technological advancement is a key trend gaining popularity in the non-alcoholic steatohepatitis (NASH) market. Major players in the non-alcoholic steatohepatitis (NASH) market are focused on technological advancement to sustain their marketplace. For instance, in May 2021, GENFIT Inc., a France-based biotechnology company launched NASHnext, a brand-new non-invasive test for diagnosing non-alcoholic steatohepatitis (NASH). NIS4TM, a GENFIT-exclusive screening technology that uses a revolutionary blood-based molecular biomarker test to detect NASH and severe fibrosis, powers NASHnext. The test is only made available in the United States and Canada by Labcorp, one of the top worldwide life sciences businesses.
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Major Key Players of the Market:
NGM Biopharmaceuticals Inc., Novartis AG, AstraZeneca plc., GlaxoSmithKline plc., F. Hoffmann-La Roche AG, The Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Novo Nordisk A/S, Genfit SA, Cadila Pharmaceuticals Ltd., Intercept Pharmaceuticals Inc., Enanta Pharmaceuticals Inc., Blade Therapeutics Inc., Cempra Pharmaceuticals Inc., Galmed Pharmaceuticals Inc., Immuron Limited, Terns Pharmaceuticals Inc., Tobira Therapeutics Inc., Arena Pharmaceuticals Inc., Vivus LLC, Arisaph Pharmaceuticals Inc., Galectin Therapeutics Inc., Raptor Pharmaceutical Inc., VERVA Technologies Pvt Ltd., Viking Therapeutics, Conatus Pharmaceuticals Inc., One Way Liver S.L., BioPredictive S.A.S., Madrigal Pharmaceuticals Inc., Cirius Therapeutics, Akero Therapeutics Inc., Echosens
Non-Alcoholic Steatohepatitis (NASH) Market 2024 Key Insights:
• The non-alcoholic steatohepatitis (NASH) market size is expected to see exponential growth in the next few years. It will grow to $14.53 billion in 2028 at a compound annual growth rate (CAGR) of 33.7%.
• The Growing Demand For NASH Treatment Amid Obesity Epidemic
• Non-Alcoholic Steatohepatitis (NASH) Market Embraces Technological Advances
• North America was the largest region in the non alcoholic steatohepatitis (NASH) market share in 2023
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