Liver Disease Treatment Market Set for Exponential Growth: Projections Show $36.45 Bn by 2031 with Remarkable 5.7% CAGR
global liver disease treatment industry
PORTLAND, OREGON, UNITED STATES, July 10, 2024 /EINPresswire.com/ -- As per the report, the global liver disease treatment industry1 generated $20.67 billion in 2020, and is projected to garner $36.45 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.
Key Takeaways:
The antiviral drugs segment held the lion’s share
The cancer segment to portray the highest CAGR through 2030
North America held the largest share
Furthermore, immunoglobulin is used in treatment of certain types of hepatitis. Moreover, vaccines are used to prevent hepatitis viral infection. For instance, vaccines are available for prevention of hepatitis A, B, and C. Furthermore, other products such as corticosteroids are used in the treatment of liver related autoimmune diseases such as autoimmune hepatitis. Thus, there are various liver related conditions such as hepatitis, autoimmune diseases, non-alcoholic fatty liver, cancer, and genetic disorders, which are treated by using different types of products such as anti-viral drugs, immunosuppressants, vaccines immunoglobulins, corticosteroids, targeted therapy, and chemotherapy.
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Increase in incidence of liver diseases, surge in government and non-government awareness program, and surge in geriatric population coupled with rise in alcohol consumption and poor dietary habits have boosted the growth of the global liver disease treatment market. However, strict regulatory approvals related to liver diseases treatment drugs and vaccines and resistance to antiviral drugs used in treatment of hepatitis B and C hamper the market growth. On the contrary, presence of strong pipeline products is expected to open new opportunities for the market players in the future.
Market Segmentation:
By TREATMENT TYPE:
Antiviral Drugs
Immunosuppressants
Vaccines
Immunoglobulins
Corticosteroids
Targeted Therapy
Chemotherapy
By DISEASE TYPE:
Hepatitis
Autoimmune Diseases
Non-alcoholic Fatty Liver Disease (NAFLD)
Cancer
Genetic Disorders
Others
By Region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Covid-19 scenario:
The Covid-19 outbreak has a moderate impact due to decline in need for drugs that are used in liver treatment, limited availability of medical care, and shortage of healthcare staff.
The rise in burden of Covid-19 related hospitalization negatively affected the healthcare sector.
On the contrary, the research studies and activities such as clinical trials for safety and efficacy for treatment of liver diseases boosted the demand for liver disease treatment.
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Regional Growth Dynamics:
By region, the market across North America held the largest share in 2020, accounting for more than two-fifths of the market, due to rise in geriatric population, adoption of advanced technologies, robust R&D infrastructure for life science researchers, and improved liver disease treatment. However, the global liver disease treatment market across Asia-Pacific is expected to manifest the highest CAGR of 7.8% during the forecast period, owing to rise in liver diseases, increase in public-private investments, and government support for pharmaceutical and biotechnology R&D.
Major market players:
AbbVie Inc.
Astellas Pharma Inc.
Abbott Laboratories
Eli Lilly and Company
Bristol Myers Squibb
Emergent BioSolutions (Cangene bioPharma)
F. Hoffman-LA Roche
Merck & Co., Inc. (Merck Sharp & Dohme Corp.)
Gilead Sciences, Inc.
Viatris Inc.
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