The main market players’ increased R&D efforts are anticipated to fuel the expansion of the global market for skin fibrosis treatments. For instance, a monoclonal antibody targeting the IL-11 receptor (IL-11R), LASN01, is presented by the biotech business Lassen Therapeutics in June 2022 at the Keystone Symposia Conference on Tissue Fibrosis, which is hosted in the United States.
The Global Skin Fibrosis Market is forecast to record an increase in its revenue from US$ 609.6 Mn in 2022 to US$ 1,038.5 Mn by 2030. The market is registering growth at a CAGR of 6.9% during the forecast period from 2022 to 2030.
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Key Developments
According to statistics released by the National Center for Biotechnology Information in October 2021, the new treatment method has been effective in treating skin fibrosis. Researchers from the CNRS, Université Toulouse III – Paul Sabatier, and Toulouse INP studied the therapy of skin fibrosis by applying an electric field to the skin, which may assist to treat skin fibrosis by reducing excessive collagen levels. New therapies for the topical treatment of skin fibrosis are revealed by the study.
Key Takeaways
The market for skin fibrosis treatments is anticipated to grow at a CAGR of 6.9% over the course of the projected period as a result of the main market players’ increased investment in research & development. For instance, positive Phase 3 data for BIIB800 (BAT1806), a biosimilar candidate for tocilizumab anti-interleukin-6 receptor monoclonal antibody, were presented in June 2022 by Biogen Inc., a biotechnology company, and Bio-Thera Solutions, a biotechnology company. According to the clinical trial investigation, the biosimilar candidate BIIB800 (BAT1806) exhibits an immunogenicity profile, effectiveness, and safety profile that is comparable to the reference tocilizumab product used to treat skin fibrosis.
Due to the rising frequency of systemic sclerosis, hospital pharmacies are anticipated to have a dominating position in the global market for the treatment of skin fibrosis during the course of the projected period. For instance, the National Center for Biotechnology Information reports that in June 2022, there would be 307 cases of systemic sclerosis per million people in Europe, with the 70–80 age group having the highest prevalence. In August 2021, European Scleroderma Trials and Research (EUSTAR) reported that 1,021 participants were involved in the study, 78 of whom had increasing skin fibrosis.
Due to increased research and development for skin fibrosis by the major companies in that region, North America is anticipated to hold the biggest market share among the regions in the global market for skin fibrosis treatments throughout the forecast period. For instance, in October 2021, Horizon Therapeutics plc, a biopharmaceutical company with U.S. headquarters, announced the start of the Phase 2b trial and the enrollment of the first patient in the Phase 2b pivotal trial to assess the efficacy of its in-development drug HZN-825, an antagonist of the lysophosphatidic acid receptor 1 (LPAR1) used to treat skin fibrosis.
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The financial standing of companies in all industries, including the private healthcare sector, has been harmed by the COVID-19 epidemic and lockdowns in numerous nations throughout the world. Due to rigorous lockdown in certain areas, the COVID-19 pandemic has affected the whole supply chain of the healthcare business. One area where the COVID-19 epidemic has had a big influence is private healthcare.
However, the COVID-19 pandemic had a detrimental effect on the skin fibrosis treatments market due to a decline in skin fibrosis diagnosis and a disturbance in the supply chain of the medications used to treat skin fibrosis. For instance, the COVID-19 pandemic hampered healthcare in July 2020, which had an impact on the diagnosis and follow-up of other pathologies, according to data from the National Center for Biotechnology Information. Prioritizing testing and diagnosis for COVID-19 patients was a practise of the pathology labs. The pandemic had a negative impact on funding opportunities for research into fibrosis imaging, cancer, hepatic, and cardiac disorders. Additionally, the steps used to stop the spread of COVID-19 had a detrimental effect on the supply of drugs in the chain. The COVID-19 pandemic’s impact on global trade also resulted in a shortage of key medications for chronic conditions.
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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 treatment industry.
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 2030
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 (2022-2030)
Chapter 16 Conclusions
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