Fibrotic Diseases Treatment Market Top Players - AbbVie Inc., Gilead Sciences, Inc., KITHER BIOTECH S.R.L., BioMX.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Fibrotic Diseases Treatment Market - (By Treatment (Medication, Organ Transplantation, Oxygen Therapy, and Others), Application (Idiopathic Pulmonary Fibrosis, Hepatic Cirrhosis, Renal Fibrosis, Cutaneous Fibrosis, and Others), End User (Hospitals, Specialty Clinics, Academic and Research Institutes, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Fibrotic Diseases Treatment Market is valued at US$ 3.57 billion in 2023, and it is expected to reach US$ 5.40 billion by 2031, with a CAGR of 5.53% during the forecast period of 2024-2031.

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Fibrosis refers to the formation of fibrous connective tissue following injury or damage. It occurs when excessive tissue deposition takes place due to pathological conditions, as well as during the normal healing process. Fibrotic diseases, which are chronic and progressive in nature, arise from the overproduction of scar tissue in various organs such as the skin, kidneys, liver, and lungs. The global market for fibrotic disease treatments is driven by several factors, including the rising prevalence of fibrotic diseases, an increase in smoking rates, and ongoing advancements in treatment technologies. Additionally, the surge in healthcare expenditure across both developed and emerging markets is expected to provide manufacturers with a competitive advantage in the development of innovative and novel therapeutic solutions.

List of Prominent Players in the Fibrotic Diseases Treatment Market:
• 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
• Accord Healthcare
• Other Market Players

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Market Dynamics:
Drivers:
The increasing prevalence of fibrotic disorders, particularly due to factors such as aging and obesity, is emerging as a significant socioeconomic challenge globally. This trend is driving the demand for treatments, thereby fostering the expansion of the fibrotic disease treatment market. For example, the market for pulmonary fibrosis therapies is growing, particularly due to the rise in idiopathic pulmonary fibrosis (IPF) cases, which has heightened the demand for medications such as nintedanib and pirfenidone. Additionally, the growing incidence of cigarette smoking is exacerbating conditions like IPF. Studies indicate that smoking worsens IPF outcomes, as cigarette smoke contains harmful substances like reactive oxygen species (ROS) and nitrogen species, which contribute to inflammation and fibrosis. This trend underscores the need for innovative treatments, thereby expanding the market for fibrotic disease therapies, especially those targeting smoking cessation.

Challenges:
Rising treatment costs, driven by the increasing prevalence of fibrotic disorders and the escalating prices of prescription drugs and medical equipment, are a significant challenge for the market. Although advances in technology have improved the precision of care, they have also contributed to higher costs. These increasing expenses are expected to limit the market's growth, presenting challenges for patients seeking affordable fibrosis treatments. Additionally, the diagnosis and treatment of conditions such as IPF are hindered in developing regions due to limited access to reliable lung function tests and chest imaging. The lack of dependable biomarkers and diagnostic tools, coupled with challenges in accessing healthcare in remote areas, hampers accurate diagnosis and timely treatment, thus restricting market expansion in underserved regions.

Regional Trends:
North America is expected to hold a dominant share of the fibrotic disease treatment market in terms of revenue, driven by the aging population and the high prevalence of fibrotic diseases. The presence of leading companies in the region further strengthens the market, providing a conducive environment for the development of new therapies. In addition, the Asia-Pacific region is poised for significant market growth, driven by rapid technological advancements in developing countries. These developments are improving patient outcomes by addressing unmet medical needs and increasing access to advanced treatments, thereby contributing to the region's growing share in the fibrotic disease treatment market.

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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.

Segmentation of Fibrotic Diseases Treatment Market-
By Treatment-
• Medication
• Organ Transplantation
• Oxygen Therapy
• Others
By Application-
• Idiopathic Pulmonary Fibrosis
• Hepatic Cirrhosis
• Renal Fibrosis
• Cutaneous Fibrosis
• Others
By End User-
• Hospitals
• Specialty Clinics
• Academic and Research Institutes
• Others
By Distribution Channel-
• Hospital Pharmacy
• Retail Pharmacy
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/fibrotic-diseases-treatment-market/2876

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.