New York, USA, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global liver disease treatment market. According to the report, the global market is projected to surpass $32,028.5 million and grow with a CAGR of 11.7% in the estimated period, 2021–2028. This all-inclusive report delivers a comprehensive overview of the current and future situation of the liver disease treatment market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of COVID-19 Pandemic on the Liver disease treatment Market:
The abrupt rise of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global liver disease treatment market. The implementation of lockdown restrictions and supply chain disruptions ceased the working of many drug manufacturing companies. This greatly hindered the growth of the liver disease treatment market during the pandemic. However, initiatives taken by market players, such as novel developments and strategic collaborations, to recuperate the market from losses are likely to bring in lucrative opportunities for the market in the future years.
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Factors Impacting the Liver Disease Treatment Market Growth
The key factor boosting the growth of the global liver disease treatment market is a significant rise in government and non-government awareness programs to treat liver disorders. In addition, the increasing occurrence of liver disorders mainly in the Latin American and Middle East nations is estimated to unlock lucrative opportunities for the market’s growth in the forecast period. However, high costs required in the development of drugs used in liver disease treatment are anticipated to deter the market’s growth.
The report segments the global liver disease treatment market into treatment type, disease type, end user, and region.
Antiviral Drugs Sub-Segment to Grab a Foremost Share of the Market
The antiviral drugs sub-segment of the treatment type segment is foreseen to grow massively by garnering $13,503.3 million in the forecast period. This growth is mainly owed to the increasing developments in the field of antiviral drugs owing to the various benefits they offer.
Non-Alcoholic Fatty Liver Disease Sub-Segment to Witness Outstanding Growth
The non-alcoholic fatty liver disease sub-segment of the disease type segment is projected to grab a leading position in the global market by garnering $3,667.2 million in the forecast period. This is primarily owed to the increasing number of obese people worldwide, rising awareness about liver disorders in emerging regions, and growing cases of diabetes across the globe.
Hospitals Sub-Segment to Grow Remarkably
The hospitals sub-segment of the end user segment is expected to hit $22,276.3 million in the forecast period. This is primarily due to the presence of integrated liver treatment hospitals in the European and American nations with a dedicated medical team consisting of some of the best liver surgeons as well as hepatologists.
Asia-Pacific Liver Disease Treatment Market to Perceive Maximum Growth
The report analyzes the global liver disease treatment market across several regions such as Asia-Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to hit $4,099.7 million in the estimated period. The growth of the region market is mostly because of the rising need for progressive and advanced liver disease therapeutics mainly in nations such as India, China, and South Korea in this region.
Top Players of the Global Market
The report states some of the foremost players operating in the global liver disease treatment market including
- Johnson & Johnson Services, Inc.
- GlaxoSmithKline plc.
- Novartis AG
- Bayer AG
- Bristol Myers Squibb (BMS)
- Pfizer Inc.
- F. Hoffmann-La Roche Ltd
- Gilead Sciences, Inc.
- AbbVie.
- Sanofi
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
For instance, in February 2021, Dr. Harsh Vardhan, the Union Minister of Health & Family Welfare, launched the operational guidelines for the integration of NAFLD (Non-Alcoholic Fatty Liver Disease) with the NPCDCS (National Programme for Prevention & Control of Cancer, Diabetes, Cardiovascular Diseases and Stroke).
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
Post COVID-19 Impact Insights on Liver Disease Treatment Market. Ask an Analyst or Schedule a call
More about Liver Disease Treatment Market:
- Supporting Liver Health with Top 4 Foods and Managing Liver Diseases Treatment
- Collaborations like that of HemoShear Therapeutics, LLC with Takeda Pharmaceuticals to Offer the Global Liver Disease Treatment Market with Ample Opportunities
