Skin Fibrosis Treatment Market to Surpass US$ 1,038.5 Mn by 2030
Global Skin Fibrosis Treatment Market, by Drug Type (Corticosteroids, Antifibrotic, Immunotherapy Drugs, Other(Immunosuppressant)), by Route of Administration (Oral, Parenteral, Other(Topical)), by Application (Localized forms of scleroderma, Eosinophilic fasciitis, Scleromyxedema (papular mucinosis), and Scleredema), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 609.6 Million in 2022 and is expected to exhibit a CAGR of 6.9% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing research and development activities by the key players in the market is expected to drive the global skin fibrosis treatment market growth. For instance, in June 2022, Lassen Therapeutics, a biotech company presents new preclinical data in preclinical models of skin fibrosis on a monoclonal antibody targeting IL-11 receptor (IL-11R), LASN01 at the Keystone Symposia Conference on Tissue Fibrosis held in the U.S.
Global Skin Fibrosis Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a negative impact on the global skin fibrosis treatment market, owing to decrease in diagnosis of skin fibrosis and supply chain disruption of the drugs used in treatment of skin fibrosis. For instance, in July 2020, according to the data published by the National Center for Biotechnology Information, COVID-19 pandemic had compromised health care, with consequences for the diagnosis and follow-up of other pathologies. The pathology Labs during COVID -19 were prioritizing the testing and diagnosis for the COVID-19 patients. The pandemic had negatively impacted cancer, hepatic, cardiac disorder, fibrosis imaging research and funding opportunities. Furthermore, the measures implemented to avoid spread of COVID-19 had negatively impacted drug chain supply. The decline in the international trade resulted from the COVID-19 pandemic also lead to lack of supply of essential drug for chronic diseases.
Global Skin Fibrosis Treatment Market: Key Developments
In October 2021, according to the data published by the National Center for the Biotechnology Information, the new technique for treatment has showed positive results in the treatment of skin fibrosis. In these study of skin fibrosis treatment the researchers from the CNRS, Université Toulouse III - Paul Sabatier and Toulouse INP, used electric field to the skin which could help to treat skin fibrosis by decreasing overly high collagen levels. The study reveals new therapeutics for topical skin treatment of skin fibrosis.
Browse 39 Market Data Tables and 28 Figures spread through 156 Pages and in-depth TOC on “Global Skin Fibrosis Treatment Market”- Forecast to 2030, Global Skin Fibrosis Treatment Market, by Drug Type (Corticosteroids, Antifibrotic, Immunotherapy Drugs, Other(Immunosuppressant)), by Route of Administration (Oral, Parenteral, Other(Topical)), by Application (Localized forms of scleroderma, Eosinophilic fasciitis, Scleromyxedema (papular mucinosis) and Scleredema), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Skin Fibrosis Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/skin-fibrosis-treatment-market-5255
Key Takeaways of the Global Skin Fibrosis Treatment Market:
- The global skin fibrosis treatment market is expected to exhibit a CAGR of 6.9% during the forecast period due to the increasing research and development by the key players in the market. For instance, in June 2022, Biogen Inc., Biotechnology Company and Bio-Thera Solutions, Biotechnology Company, presented Positive Phase 3 data for BIIB800 (BAT1806), a biosimilar candidate for tocilizumab anti-interleukin-6 receptor monoclonal antibody. The clinical trial study for biosimilar candidate BIIB800 (BAT1806) represented that it has equivalent immunogenicity profile, efficacy and comparable safety to the reference tocilizumab product used in the treatment of skin fibrosis.
- Among distribution channel, the hospital pharmacies segment is estimated to hold a dominant position in the global skin fibrosis treatment market over the forecast period, owing to the increased prevalence of systemic sclerosis. For instance, in June 2022, according to the data published by the National Center for Biotechnology Information, the prevalence of systemic sclerosis in Europe is 307 per million in year 2019 with the highest prevalence in the geriatric population of 70-80 age group. According to European Scleroderma Trials and Research (EUSTAR) in August 2021, the research included 1,021 patients, out of which 78 had progressive skin fibrosis.
- Among regions, North America is estimated to account for the largest market share in the global skin fibrosis treatment market over the forecast period, owing to the increasing research and development for the skin fibrosis by the key players in that region. For instance, in October 2021, Horizon Therapeutics plc, Biopharmaceutical Company based in the U.S., announced the initiation of the Phase 2b trial and first patient enrollment in Phase 2b pivotal trial to evaluate its development-stage medicine HZN-825, a lysophosphatidic acid receptor 1 (LPAR1) antagonist to treat people with skin fibrosis.
- Major players operating in the global skin fibrosis treatment market include Pharmaxis, Jubilant Cadista, Horizon Pharma USA, Pfizer, Sanofi, F. Hoffmann-La Roche, Boehringer Ingelheim, , Bristol-Myers Squibb Company
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