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Global Non-Alcoholic Steatohepatitis(NASH) Market is Expected to Reach $1.6 Billion by 2020 - Allied
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The number of patients living with the diabetes worldwide is expected to soar from 371 million in 2012 to 552 million by 2030. This suggests that by 2030, there will be 3 new cases of diabetes every 10 seconds. "The rampant growth of diabetes and obesity has prompted pharmaceutical manufacturers to seek out novel pharmaceutical solutions to tap promising potential in NASH," states AMR analyst Roshan Deshmukh. "Instrumental initiatives and increasing clinical trials for the development of novel NASH therapeutics will steer its faster commercialization,"
AMR analysis suggests that commercialization of NASH therapeutics and diagnostics in the market would not only lower healthcare expenses of patients but would also increase its (NASH therapeutics)
In Europe, NASH is most prevalent in Germany, Italy, Spain, France and the United Kingdom. Intercept Pharmaceuticals, in collaboration with DSP, is developing obeticholic acid for commercialization in the United States and European countries. This drug is expected to receive commercial approval by the end 2017. Developing economies, particularly in the Asia-Pacific region, are the fastest growing markets for NASH therapeutics and are expected to have a double digit growth rate during the analysis period. The chief reason behind this growth is the high prevalence of nonalcoholic fatty liver diseases in densely populated countries such as China, Japan and Korea with prevalence rate of 12% to 24% per year. In western industrialized countries, the prevalence rate is estimated to be approximately 20% to 40%.
Most giant biopharmaceutical manufacturing companies are currently attempting to develop novel therapeutics for the treatment of NASH. These companies are adopting clinical trials and approval as key strategies in order to gain competitive edge. Most of these companies operate from the United States and are collaborating with private research and academic institutes to conduct clinical trials. Key companies profiled in the report are: Genfit, Gilead Science, Novo Nordisk, Intercepts Pharmaceuticals, Enzo Biochem, Inc. and Raptor Pharmaceutical Corp.
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