Newark, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 15.68 Billion in 2021 liver disease treatment market will reach USD 27.45 Billion by 2030. The market is expanding due to shifting eating habits and inactive lifestyles. Additionally, the market is expected to rise due to the rising prevalence of fatty liver disease driven by excessive cholesterol, obesity, hypertension, and diabetes. Additionally, several technological developments, such as the creation of the bioartificial liver, are accelerating market expansion. It is frequently used for individuals with acute liver failure and replaces liver functions with regenerated liver cells. Accordingly, the market growth is positively impacted by the rapid acceptance of antiviral medications due to their safety and efficacy, ability to suppress the hepatitis B virus, and ability to lower the risk of developing cirrhosis and hepatocellular carcinoma.
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Key Insight of the Liver Disease Treatment Market
Asia-Pacific is anticipated to expand at the highest CAGR of 8.28% over the projection period.
Asia-Pacific is expected to grow at the highest CAGR of 8.28% over the forecast period. The market for liver disease treatment in this region is expanding due to the ageing population and growing awareness of the importance of routine checkups. Additionally, it is anticipated that regulatory acceptance of cutting-edge technologies that can be used with imaging systems will promote regional growth.
The Non-Alcoholic Fatty Liver Disease (NAFLD) segment is expected to register the highest CAGR of 9.15% over the projected period in the liver disease treatment market.
The Non-Alcoholic Fatty Liver Disease (NAFLD) segment is anticipated to grow at the highest CAGR of 9.15% in the liver disease treatment market. It is caused by an increase in diabetes incidence and obesity prevalence worldwide. Non-alcoholic fatty liver disease (NAFLD) is the collective name for a group of illnesses caused by an overgrowth of fat in the liver. People who are obese or overweight commonly display it.
The antiviral drugs segment dominated the market, with a market share of around 16.37% in 2022.
With a market share of around 16.37% in 2022, the antiviral drugs segment dominated the market. It is because of the market's growing investments and tremendous advantages. One in three patients with health insurance receives therapy with direct-acting antivirals (DAAs) every year after receiving a hepatitis C diagnosis.
The hospitals segment is expected to register the highest CAGR of 9.72% over the projected period in the liver disease treatment market.
The hospitals segment is anticipated to grow at the highest CAGR of 9.72% in the liver disease treatment market. The market for liver disease treatment is increased by hospitals, which provide good patient care and enable early identification and diagnosis because most patients rely on them for diagnostic testing equipment. Additionally, ongoing healthcare infrastructure development is anticipated to improve current hospital facilities.
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Market Dynamics
Driver: An increase in liver disease occurrence
Liver disorders are still quite prevalent all over the world. Because of sedentary lifestyles, inactivity, and particularly poor diets, there are increasingly more people who suffer from liver illnesses. The elderly population is ageing, and autoimmune diseases such as hepatitis, non-alcoholic fatty liver, and others are becoming more prevalent. The significant rise in patients can also be attributed to rising alcohol usage. The growing number of people undergoing various therapies for liver illnesses will drive the global market for liver disease treatments. In response to the increased demand for treatments for liver disease, healthcare organisations have invested money in creating new drugs, tools, and treatment options. Biotech firms and research organisations worldwide have contributed significantly to the creation of novel drugs for liver disease. As a result of developments and breakthroughs, the market for treating liver diseases will become more competitive and successful. This is projected to open up lucrative opportunities for market participants and accelerate market growth.
Restraint: High costs
The high expense of the drugs, procedures, and surgeries needed to treat liver disease significantly slows the market's expansion. The market development is hampered by inadequate healthcare infrastructure, particularly in rural or underserved areas, a lack of understanding of liver diseases and their symptoms among the general public and healthcare professionals, and stigma associated with specific liver diseases, such as viral hepatitis or alcohol-related liver diseases. The difficulty of liver transplantation, strict restrictions, and the absence of effective liver disease medicines in research and development constrain the market's growth. A considerable sum of money is needed to purchase the medications and therapies used to treat liver disorders and related conditions. Cirrhosis, cirrhosis complications, and comorbidities increase the burden of chronic illness. By utilising cutting-edge technology and developments, market participants can increase the efficacy and safety of these medicines. However, the expense of these technologies and the process of developing new drugs is high. The costly regulatory approval processes and numerous medicine testing trials also add to the price. Thus, the high cost of treatments for liver illnesses would limit the market's growth.
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Some of the major players operating in the 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.
Key Segments cover in the market:
By Disease Type:
• Genetic Disorders
• Cancer
• Hepatitis
• Non-Alcoholic Fatty Liver Disease (NAFLD)
• Autoimmune Diseases
• Others
By Treatment Type:
• Vaccines
• Immunoglobulins
• Targeted Therapy
• Antiviral Drugs
• Chemotherapy
• Corticosteroids
• Immunosuppressants
By End User:
• Hospitals
• Clinics
• Diagnostic Laboratories
• Others
By Region
• 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)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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