Future Growth of Skin Fibrosis Treatment Market: Emerging Therapies, Market Dynamics, and Growth Forecast 2024-2031

skin fibrosis treatment market 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 2022-2030

BURLINGAME, CALIFORNIA , UNITED STATES, May 21, 2024 /EINPresswire.com/ -- Market Overview:

Skin fibrosis is a condition characterized by thickening and tightening of the skin caused due to excessive deposition of collagen in the dermis and subcutaneous tissues. Treatments for skin fibrosis aim to reduce scar formation and relieve associated symptoms.

Market Dynamics:

Skin fibrosis treatment market is driven by increasing awareness about skin disorders and their treatment options. According to the American Academy of Dermatology, around 100 million people in the U.S. are affected by some type of skin disease or skin conditions annually. Moreover, rising geriatric population is also expected to aid market growth as elderly people are more prone to develop skin fibrosis. According to the United Nations (UN), the global population aged over 65 will grow to over 1.5 billion by 2050, which is nearly double the number in 2017. Ageing is one of the major risk factors for skin fibrosis condition.

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List of TOP Players in Market Report are: –

◘ Pharmaxis
◘ Jubilant Cadista
◘ Horizon Pharma USA
◘ Pfizer
◘ Sanofi
◘ F. Hoffmann-La Roche
◘ Boehringer Ingelheim
◘ Bristol-Myers Squibb Company

Note: Major Players are sorted in no particular order.

Market Detailed Segmentation:

By Drug Type: Corticosteroids, Antifibrotic Drugs, Immunotherapy Drugs, Other (Immunosuppressant)
By Route of Administration: Oral, Parenteral, Other (Topical)
By Application: Localized forms of scleroderma, Eosinophilic fasciitis, Scleromyxedema (papular mucinosis), Scleredema
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

Market Driver: Rising Global Prevalence of Skin Fibrosis

The global prevalence of skin fibrosis has been steadily increasing over the past few decades. Skin fibrosis can result from conditions such as scleroderma, nephrogenic systemic fibrosis, keloid scarring, and eosinophilic fasciitis. The increasing incidence and prevalence of these underlying conditions is a major factor driving the growth of the skin fibrosis treatment market. For instance, it is estimated that around 300,000 people in the US and millions worldwide suffer from scleroderma. The occurrence of scleroderma is higher among women compared to men. The increasing aging population across major markets like US, Europe, and Japan is another demographic driver for skin fibrosis as the risk of developing these conditions increases with age.

Market Driver: Growing Research into Novel Therapy Approaches

Considerable research efforts are underway to develop more effective treatment options for skin fibrosis. The current treatment landscape mainly involves the use of corticosteroids and immunosuppressants which have limited efficacy. This has prompted major investments by pharmaceutical companies and research institutes to identify novel targets and develop first-in-class drugs. Several biological therapies targeting key pathways involved in fibrosis are in clinical trials. Promising candidates include drugs targeting CTGF, IL-13, αvβ6 integrin, and LOXL2 enzymes. The success of these new therapies in clinical testing would significantly expand treatment choices available to patients and physicians. This growing R&D activity focused on cutting-edge treatments is a key factor fueling growth in the skin fibrosis treatment market.

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Market Restrain: High Cost of Novel Therapies

While the research pipeline for skin fibrosis therapies holds much promise, the development and commercialization of innovative drugs involves huge costs which ultimately impact the prices of new treatments. Most advanced therapies in development are likely to be priced well above existing treatment options once approved. This creates a major barrier to market adoption, especially in developing regions with lower healthcare budgets. Biologic therapies for other fibrosis conditions are known to cost anywhere between $50,000 to $150,000 per patient annually. Such steep prices put novel anti-fibrotic drugs out of reach for many patients and healthcare systems globally. High development and regulatory costs translates to sky-high drug prices which restrain broader market uptake and growth to some extent.

Market Opportunity: Expanding into Novel Indications

While skin fibrosis is currently the primary clinical application area, many investigational anti-fibrotic drugs in the pipeline are being studied for efficacy in other fibrotic conditions affecting various organs. Fibrosis of the liver, kidneys, lungs and other tissues share common biological pathways with skin fibrosis, providing an opportunity to expand the use of anti-fibrotic therapies into new treatment areas. A drug approved for skin fibrosis indication has a high chance of gaining subsequent approvals for novel fibrosis-related conditions based on repurposing. This significantly expands the commercial scope and market potential. With many ongoing trials, successful demonstration of clinical benefits in areas like liver cirrhosis, pulmonary fibrosis and renal fibrosis could open up new multi-billion dollar markets for leading skin fibrosis drugs in the years ahead.

Emerging Market Trend: Combination Therapy Approaches

With a growing understanding that fibrosis is a complex condition involving multiple pathways, single target therapies are increasingly being viewed as inadequate. This has led research to explore combination drug regimens that simultaneously impact two or more pro-fibrotic mechanisms. Some of the ongoing studies involve combining immunomodulators with anti-TGFβ or anti-CTGF agents. There is also interest in evaluating drug combinations against developmental targets like integrins and lysyl oxidases. Combination regimens are predicted to provide enhanced anti-fibrotic efficacy over monotherapy alone. This emerging trend of evaluating multi-pathway combinatorial approaches is expected to define future treatment strategies and pipeline development activities in skin fibrosis. Combination drug formulations may also help address the high costs issues through lower individual drug doses.

Furthermore, the years considered for the study are as follows:

Historical data - 2016-2022
The base year for estimation - is 2022
Estimated Year - 2024
Forecast period** - 2024 to 2031

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This Skin Fibrosis Treatment Market Research/Analysis Report Contains Answers to your following Questions:

◈What are the current global trends in the Skin Fibrosis Treatment market, and will the market experience an increase or decrease in demand in the upcoming years?

◈ What is the expected demand for various product types within the Skin Fibrosis Treatment market, and what are the emerging Market applications and trends?

◈ What are the projections for the global Skin Fibrosis Treatment Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?

◈ How will strategic developments shape the Market trajectory in the medium to long term?

◈ What factors contribute to the final price of Skin Fibrosis Treatment , and what are the raw materials used in its manufacturing?

◈ What is the market's growth potential, particularly with the increasing adoption of Skin Fibrosis Treatment in mining?

◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?

◈ What recent Market trends can be leveraged to create additional revenue streams?

◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the Skin Fibrosis Treatment Market?

Summarized Extracts from TOC of Market Study

Chapter 1 Skin Fibrosis Treatment Introduction and Market Overview

1.1 Objectives of the Study

1.2 Overview of Skin Fibrosis Treatment

1.3 Scope of The Study

1.3.1 Key Market Segments

1.3.2 Players Covered

1.3.3 COVID-19’s impact on the Skin Fibrosis Treatment industry

1.4 Methodology of The Study

1.5 Research Data Source

Chapter 2 Executive Summary

Chapter 3 Industry Chain Analysis

Chapter 4 Market, by Type

Chapter 5 Market, by Application

Chapter 6 Market Analysis by Regions

Chapter 7 North America Market Analysis by Countries

Chapter 8 Europe Skin Fibrosis Treatment Market Analysis by Countries

Chapter 9 Asia Pacific Skin Fibrosis Treatment Market Analysis by Countries

Chapter 10 Middle East and Africa Skin Fibrosis Treatment Market Analysis by Countries

Chapter 11 South America Skin Fibrosis Treatment Market Analysis by Countries

Chapter 12 Competitive Landscape

Chapter 13 Industry Outlook

Chapter 14 Market Forecast

Chapter 15 New Project Feasibility Analysis

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