Portland, OR -- (SBWIRE) -- 08/18/2017 -- NASH Market (Nonalcoholic Steatohepatitis Market) Report, published by Allied Market Research, forecasts that the global market is expected to garner $1.6 billion by 2020, registering a CAGR of 25.6% during the period 2014-2020. The high prevalence of Type II diabetes and obesity, which lead to NASH and other nonalcoholic fatty liver diseases (NAFLD), would boost market growth.North America'sheightened focus of NASH research has resulted in its accounting for nearly half of the global market. It is also the region with the maximum occurrences of NASH and other nonalcoholic fatty liver diseases. Europe ranks second in terms of the prevalence of NASH.

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The number of patients living with the diabetes worldwide is expected to soar from 371 million in 2012 to 552 million by 2030. This suggests that by 2030, there will be 3 new cases of diabetes every 10 seconds. "The rampant growth of diabetes and obesity has prompted pharmaceutical manufacturers to seek out novel pharmaceutical solutions to tap promising potential in NASH," states AMR analyst Roshan Deshmukh. "Instrumental initiatives and increasing clinical trials for the development of novel NASH therapeutics will steer its faster commercialization," adds the analyst.

Concerted efforts in research and development for companies such as Genfit, Gilead Science, Novo Nordisk, Raptor Pharmaceutical Corp. and Intercepts Pharmaceuticals would help them gain core competencies in this market. Dainippon Sumitomo Pharma (DSP), a partner of Intercept Pharmaceuticals, initiated a phase 2 clinical trial to test the safety and efficacy of daily doses of Obeticholic Acid (OCA) in 200 adult NASH patients. The trial is expected to be completed in the first half of 2016. Thus, prevalence of diabetes and research and developments in the field of fatty liver disease therapeutics would supplement market growth in the next six years.

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In Europe, NASH is most prevalent in Germany, Italy, Spain, France and the United Kingdom. Intercept Pharmaceuticals, in collaboration with DSP, is developing obeticholic acid for commercialization in the United States and European countries. This drug is expected to receive commercial approval by the end 2017. Developing economies, particularly in the Asia-Pacific region, are the fastest growing markets for NASH therapeutics and are expected to have a double digit growth rate during the analysis period.

The chief reason behind this growth is the high prevalence of nonalcoholic fatty liver diseases in densely populated countries such as China, Japan and Korea with prevalence rate of 12% to 24% per year. In western industrialized countries, the prevalence rate is estimated to be approximately 20% to 40%.

Most giant biopharmaceutical manufacturing companies are currently attempting to develop novel therapeutics for the treatment of NASH. These companies are adopting clinical trials and approval as key strategies in order to gain competitive edge. Most of these companies operate from the United States and are collaborating with private research and academic institutes to conduct clinical trials. Key companies profiled in the report are: Genfit, Gilead Science, Novo Nordisk, Intercepts Pharmaceuticals, Enzo Biochem, Inc. and Raptor Pharmaceutical Corp.