Skin Fibrosis Treatment Market to Surpass US$ 1,038.5 Mn by 2030 With CAGR of 6.9% | Bristol-Myers Squibb Company, Pharmaxis, Boehringer Ingelheim

Skin fibrosis disease is a major clinical condition that mostly affects skin-restricted and systemic illnesses, such as localised scleroderma, systemic sclerosis (SSc), and chronic graft-versus-host disease. It causes severe impairment and adversely affects morbidity. Epidermal or dermal damage brought on by repeated chemical exposure or trauma commonly results in the development of fibrosis. It’s characterised by an increase in fibrous connective tissues in the dermis or subcutis and commonly coexists with chronic inflammation.

The market for skin fibrosis treatments is anticipated to reach US$ 609.6 million in 2022 and grow at a CAGR of 6.9% during the following five years (2022-2030).

The worldwide market for skin fibrosis treatments is anticipated to be driven by the rising incidence of systemic sclerosis, which is one of the major causes of skin fibrosis in the population.

Over the course of the projected period, the market is anticipated to rise due to the rising prevalence of systemic sclerosis. According to statistics from BioMed Central Ltd, a division of Springer Nature, the prevalence of systemic sclerosis in Italy was determined to be 22.2 per 100,000 people in February 2021, with individuals younger than 65 years old having the greatest frequency. SSc predominated in females (86.7% of the total), with a 6.5 overall sex ratio between the sexes. However, the condition was more severe in men, with a poorer rate of survival and distinct variations in respiratory and metabolic comorbidities. The prevalence of systemic sclerosis was reported to be 13.5-44.3 and 7.2-33.9 per 100,000 people, respectively, in Europe and North America in 2019, according to the Center for Disease Control and Prevention.

During the projected period, the market expansion is anticipated to be driven by an increase in research and development efforts for the development of skin fibrosis medications.

Over the course of the forecast period, the main market players are anticipated to increase their research and development efforts in order to create new treatments for skin fibrosis. For instance, on March 14, 2022, Chemomab Medicines, Ltd., a biotechnology business in clinical development, was devoted to the research and discovery of novel therapeutics for inflammatory and fibrotic disorders with significant unmet medical needs. The preclinical data and patient sample data for CM-101, a new medication for the treatment of systemic sclerosis, were presented.

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Impact

Three key ways that COVID-19 might effect the economy include directly impacting medication demand and production, disrupting the flow of goods through distribution networks, and having an economic impact on businesses and financial markets. Several nations, including China, India, Saudi Arabia, the United Arab Emirates, Egypt, and others, are having issues with the shipment of pharmaceuticals due to countrywide lockdowns.

However, because of the decline in research and development activity for the treatment of skin fibrosis, the COVID-19 pandemic had a detrimental effect on the global market for skin fibrosis treatments. For instance, research and development efforts for the creation of vaccines for the prevention of the coronavirus were given priority in December 2020, according to data provided by the National Center for Biotechnology Information. Clinical studies and Food and Drug Administration clearance for the vaccines used in COVID-19 vaccination were conducted by clinicians and medical doctors. As a result of the Covid-19’s effects and reaction, the research and development for skin fibrosis medications slowed down. Lockdown measures implemented by several governments limited the supply of biological molecules needed for the creation of medications to cure skin fibrosis.

Key Developments

Studies on epigenetic medications were conducted in May 2022 at Michigan Medicine, University of Michigan Hospital. These studies have showed promising outcomes in the treatment of cancer by considerably decreasing scarring in the cells of patients with scleroderma. The trials showed that fibrosis in scleroderma can be treated with medicines that inhibit Bromodomain-containing protein 4 (BRD4). The BRD4 inhibitors were tested by the researchers on the skin fibroblasts of scleroderma patients and in mouse skin fibrosis models, and the results revealed that the therapy stopped scarring in both animal models and human-derived cells.

Market Restraint

The high cost of skin fibrosis medications is one of the main issues impeding the growth of the worldwide market for skin fibrosis treatments. For instance, Orkambi (ivacaftor/lumacaftor) and Trikafta (ivacaftor/tezacaftor/elexacaftor) bear high list costs between US$ 270,000 and US$ 310,000 per year, according to statistics released by Vertex Pharmaceuticals, Biotech Company, in April 2017. People with modest incomes find it challenging to continue with the skin fibrosis treatment therapy since individuals with the condition require ongoing care.

Key Players

Bristol-Myers Squibb Company, Pharmaxis, Boehringer Ingelheim, Jubilant Cadista, F. Hoffmann-La Roche, Horizon Pharma USA, Sanofi, and Pfizer, are significant market participants in the skin fibrosis therapy industry.

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Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Skin Fibrosis Treatment Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Skin Fibrosis Treatment Industry Impact

Chapter 2 Global Skin Fibrosis Treatment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Skin Fibrosis Treatment (Volume and Value) by Type
2.3 Global Skin Fibrosis Treatment (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Skin Fibrosis Treatment Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Skin Fibrosis Treatment Market Analysis
Chapter 6 East Asia Skin Fibrosis Treatment Market Analysis
Chapter 7 Europe Skin Fibrosis Treatment Market Analysis
Chapter 8 South Asia Skin Fibrosis Treatment Market Analysis
Chapter 9 Southeast Asia Skin Fibrosis Treatment Market Analysis
Chapter 10 Middle East Skin Fibrosis Treatment Market Analysis
Chapter 11 Africa Skin Fibrosis Treatment Market Analysis
Chapter 12 Oceania Skin Fibrosis Treatment Market Analysis
Chapter 13 South America Skin Fibrosis Treatment Market Analysis
Chapter 14 Company Profiles and Key Figures in Skin Fibrosis Treatment Business
Chapter 15 Global Skin Fibrosis Treatment Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology