June 07, 2021
According to the research report titled ‘Global NASH Market - Analysis By Drug Type, Sales Chanel, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with Market Study Report LLC, global NASH market was appraised at USD 3369.12 million in 2020 and is anticipated to showcase lucrative growth trends between 2021 and 2026.
Increasing prevalence of NASH (nonalcoholic steatohepatitis), expected launch of pipeline drugs along with increasing demand for ideal therapeutics are the factors driving the growth of global NASH market. Additionally, increasing development in technology like advanced clinical trials and special MRI technology called MR-EFF (elastography fat fraction) which is non-invasive tool used for diagnosis will augment the market outlook.
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Based on sales channel, global NASH market is segmented into hospital pharmacy, retail pharmacy, and online providers. As cited in the report, retail pharmacy segment is anticipated to hold a major share in the overall NASH market owing to the advantage that many biopharmaceutical companies or manufacturers sell their drugs directly to retail pharmacies.
Speaking of drug type, the industry is divided into vitamin E & pioglitazone, elafibranor, ocaliva, and selonsertib & cenicriviroc among others.
However, lack of research and development along with inability to raise funds are the factors restraining the worldwide NASH market. Furthermore, due to the pandemic, the delay in clinical development efforts, and deferral of approval of product candidates may also act as growth arrestors for the business scenario.
Geographically, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa are the key contributors to the overall NASH industry value.
As cited in the report, North America held a significant market share in 2020 and is expected to show lucrative growth trends over the forecast duration, with countries like Canada being a major influencer.
Leading players in worldwide NASH industry include Horizon Therapeutics plc, AstraZeneca plc, Gilead Sciences Inc., GENFIT S.A., Allergan plc, Shire plc, Intercept Pharmaceuticals Inc., Cadila Healthcare Limited, 3M Company, and Novartis International AG.