MASH Treatment Market Opportunities and Strategies to 2034

This report describes and explains the MASH treatment market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global MASH treatment market reached a value of nearly $2.59 billion in 2024, having grown at a compound annual growth rate (CAGR) of 21.55% since 2019. The market is expected to grow from $2.59 billion in 2024 to $7.04 billion in 2029 at a rate of 22.09%. The market is then expected to grow at a CAGR of 21.53% from 2029 and reach $18.67 billion in 2034.

Growth in the historic period resulted from the rising research and development (R&D) spending in life sciences, rising demand for personalized medicine, supportive government initiatives and growing awareness and screening programs. Factors that negatively affected growth in the historic period were stringent and complex regulatory requirements and limited awareness among general population.

Going forward, growing interest in combination therapies, increasing incidence of non-alcoholic fatty liver disease (NAFLD), rising demand for liver transplants and growing prevalence of obesity will drive the growth. Factor that could hinder the growth of the MASH treatment market in the future include high cost of emerging treatments, limited biomarker availability and impact of trade war and tariffs.

North America was the largest region in the MASH treatment market, accounting for 46.13% or $1.19 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the MASH treatment market will be Asia Pacific and North America where growth will be at CAGRs of 27.73% and 20.93% respectively. These will be followed by Africa and South America where the markets are expected to grow at CAGRs of 19.47% and 19.15% respectively.

The global MASH treatment markets is fragmented, with large number of players operating in the market. The top 10 competitors in the market made up 9.15% of the total market in 2024. Madrigal Pharmaceuticals Inc. was the largest competitor with a 6.93% share of the market, followed by Novo Nordisk A/S with 1.41%, Eli Lilly Company with 0.47%, AstraZeneca plc with 0.21%, Mayo Clinic with 0.05%, Zydus Lifesciences with 0.03%, King’s College Hospital with 0.025%, Johns Hopkins Hospital with 0.023%, Imperial College Healthcare NHS Trust with 0.01% and Cleveland Clinic with 0.0003%.

The MASH treatment market is segmented by treatment into drug and therapy. The drug market was the largest segment of the MASH treatment market segmented by treatment, accounting for 78.58% or $2.04 billion of the total in 2024. Going forward, the drug segment is expected to be the fastest growing segment in the MASH treatment market segmented by treatment, at a CAGR of 22.87% during 2024-2029.

The MASH treatment market is segmented by end-user into hospitals, specialty clinics, homecare and other end-user. The hospitals market was the largest segment of the MASH treatment market segmented by end-user, accounting for 49.09% or $1.27 billion of the total in 2024. Going forward, the specialty clinics segment is expected to be the fastest growing segment in the MASH treatment market segmented by end-user, at a CAGR of 23.56% during 2024-2029.

The MASH treatment market is segmented by disease stage into simple fatty liver / MASLD (no or mild fibrosis), early MASH (significant/advanced fibrosis), fibrotic MASH, MASH cirrhosis and liver failure / liver cancer mortality. The early MASH (significant/advanced fibrosis) market was the largest segment of the MASH treatment market segmented by disease stage, accounting for 34.83% or $904.74 million of the total in 2024. Going forward, the early MASH (significant/advanced fibrosis), fibrotic MASH segment is expected to be the fastest growing segment in the MASH treatment market segmented by disease stage, at a CAGR of 27.12% during 2024-2029.

The top opportunities in the MASH treatment market segmented by treatment will arise in the drug segment, which will gain $3.67 billion of global annual sales by 2029. The top opportunities in the MASH treatment market segmented by end-user will arise in the hospitals segment, which will gain $2.08 billion of global annual sales by 2029. The top opportunities in the MASH treatment market segmented by disease stage will arise in the early MASH (significant/advanced fibrosis) segment, which will gain $2.09 billion of global annual sales by 2029. The MASH treatment market size will gain the most in the USA at $1.68 billion.

Market-trend-based strategies for the MASH treatment market include focus on advancing fibroblast growth factor to strengthen their market position, focus on integration of artificial intelligence (AI) in MASH treatment market to enhance precision in disease assessment and treatment outcomes, focus on adopting a strategic partnership approach for business expansion in the market, focus on intensifying their efforts to secure regulatory approvals for their novel therapies and focus on developing innovative products such as liver fibrosis treatment solutions.

Player-adopted strategies in the MASH treatment market include focus on expanding business capabilities through advancement technology to expand its operational capabilities, expanding business capabilities through partnership and expanding business capabilities through strategic acquisition.

To take advantage of the opportunities, the analyst recommends the MASH treatment market companies to focus on advancing FGF21-based therapies to address MASH and broader liver conditions, focus on integrating AI to improve diagnostic accuracy and drug discovery in MASH, focus on drug segment to maximize growth in MASH treatment market, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2B promotions, focus on strategic partnerships to accelerate innovation and expand market reach, focus on specialty clinics to capture highest-growth end-user segment.