Newark, Nov. 21, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global liver disease treatment market is expected to grow from USD 15.68 billion in 2021 to USD 27.45 billion by 2030, at a CAGR of 6.42% during the forecast period 2022-2030.
A sedentary lifestyle, lack of exercise, an unhealthy diet, and a rise in the number of hours spent in front of laptops and smartphone displays have all contributed to an increase in the number of people suffering from liver illnesses. Hepatitis, non-alcoholic fatty liver, and other autoimmune diseases are becoming more and more common among the aging geriatric population. The rise in patients is also significantly attributed to rising alcohol intake. Numerous treatments are being utilized to address the growing number of patients with liver-related diseases brought on by bad lifestyles, unhealthful diets, excessive alcohol consumption, or old age, which will fuel the global market for treating liver disease. New technological advancements and scientific breakthroughs that have paved the way for developing safer and more effective drugs and therapies to treat liver diseases will provide lucrative opportunities to the market players. However, the high cost of drug development can hamper the market's growth. Stringent government guidelines and regulations will also challenge the market forecast period. Innovations and comprehensive approval mechanisms can help overcome these challenges and provide an impetus to the global liver disease treatment market.
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Competitive Strategy
To enhance their market position in the global liver disease treatment market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In April 2019, the prominent Danish healthcare business Novo Nordisk established a partnership with Gilead Sciences Inc., an American biopharmaceutical company with headquarters in California, to develop a therapeutic molecule for liver disease. This Agreement permits Gilead to treat NASH by combining its experimental medications, firsocostat, and cilofexor, with semaglutide from Novo Nordisk. Furthermore, it is anticipated that such corporate activities will open up new opportunities in the international market.
Market Growth & Trends
The increasing incidence of liver diseases, the growing geriatric population, and the prevalence of unhealthy diets and lifestyles will drive the market for liver disease treatment. New product innovations and increased government spending on healthcare infrastructure will also contribute to the growth of the liver disease treatment market. The rising public awareness about the available treatments is driving the liver disease treatment market; the requirement to improve the accessibility and affordability of treatment services/therapies/drugs for clients is likely to provide an impetus for the development of the liver disease treatment market. Streamlining and improving regulatory procedures to increase approval rates of new drugs/therapies will also benefit the market. The growth of the pharmaceutical sector in developing economies such as China and India will provide an impetus to the liver disease treatment market.
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Scope of the Report:
| Report Metrics | Details |
| Market size available for years | 2019–2030 |
| Base year considered | 2021 |
| Forecast period | 2022–2030 |
| Market Size in 2021 | $15.68 billion |
| Projected Market Value in 2030 | $27.45 billion |
| CAGR | 6.42% From 2022 to 2030 |
| Segments covered | Disease Type, Treatment Type, End User, Regions |
| Geographies covered | North America, Asia Pacific, Europe, Middle East and Africa, and Latin America |
| Companies covered | Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Pfizer Inc., Abbott Laboratories, Novartis AG, Eli Lilly and Company, Gilead Sciences, Bristol Myers Squibb, AbbVie Inc., Zydus Pharmaceuticals Inc. |
Key Findings
• In 2021, the hepatitis segment dominated the market with the largest market share of 37% and market revenue of 5.80 billion.
The disease type segment is divided into genetic disorders, cancer, hepatitis, non-alcoholic fatty liver disease (NAFLD), autoimmune diseases, and others. In 2021, the hepatitis segment dominated the market with the largest market share of 37% and market revenue of 5.80 billion.
• The antiviral drugs segment is expected to grow at the fastest CAGR of 9.50% over the forecast period.
The treatment type segment is divided into vaccines, immunoglobulins, targeted therapy, antiviral drugs, chemotherapy, corticosteroids, and immunosuppressants. Over the forecast period, the antiviral drugs segment is expected to grow at the fastest CAGR of 9.50%.
• In 2021, the hospitals segment accounted for the largest share of the market, with 47% and market revenue of 7.36 billion.
The end-user segment is divided into hospitals, clinics, diagnostic laboratories, & others. In 2021, the hospitals segment accounted for the largest share of the market, with 47% and market revenue of 7.36 billion.
Regional Segment Analysis of the Liver Disease Treatment Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global liver disease treatment market, with a market share of around 37.6% and 5.89 billion of the market revenue in 2021. The North American region is expected to be the largest market forecast period. The liver disease treatment market in North America has been expanding rapidly. According to the National Survey for Drug Use and Health (2019), almost 85% of people aged 18 and above have consumed alcoholic beverages. Furthermore, the USA tops the ranking in the number of adults diagnosed with liver diseases, with a staggering 4.5 million suffering from one or the other kind of liver disease at a point in time. The mortality rate stands at approximately 44,000 a year. Similar statistics are true for Canada. The growing alcohol and substance abuse consumption are the primary reasons for the increase in patients diagnosed with liver diseases. The increase in liver disease patients will drive the region's market for liver disease treatment. Significant players contributing to the increased research and development of safer and more effective drugs/therapies will also aid in the regional market's growth.
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Key players operating in the global Liver disease treatment market are:
• Johnson & Johnson Services Inc.
• F. Hoffmann-La Roche Ltd.
• Pfizer Inc.
• Abbott Laboratories
• Novartis AG
• Eli Lilly and Company
• Gilead Sciences
• Bristol Myers Squibb
• AbbVie Inc.
• Zydus Pharmaceuticals Inc.
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global liver disease treatment market based on the below-mentioned segments:
Global Liver Disease Treatment Market by Disease Type:
• Genetic Disorders
• Cancer
• Hepatitis
• Non-Alcoholic Fatty Liver Disease (NAFLD)
• Autoimmune Diseases
• Others
Global Liver Disease Treatment Market by Treatment Type:
• Vaccines
• Immunoglobulins
• Targeted Therapy
• Antiviral Drugs
• Chemotherapy
• Corticosteroids
• Immunosuppressants
Global Liver disease treatment Market by End User:
• Hospitals
• Clinics
• Diagnostic Laboratories
• Others
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About the report:
The global liver disease treatment market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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