NEWARK, Oct. 13, 2023 (GLOBE NEWSWIRE) — Brainy Insights estimates that the liver disease treatment market will be worth $15.68 billion in 2021 and will reach $27.45 billion by 2030. The market is expanding due to changing dietary habits and inactive lifestyles. Furthermore, the market is expected to grow due to rising prevalence of fatty liver disease due to high cholesterol, obesity, hypertension, and diabetes. In addition, the development of multiple technologies such as bioartificial livers is accelerating market expansion. It is often used in individuals with acute liver failure and replaces liver function with regenerated liver cells. Therefore, the rapid acceptance of antiviral drugs due to their safety and efficacy, ability to inhibit hepatitis B virus, and ability to reduce the risk of developing cirrhosis and hepatocellular carcinoma has positively impacted the market growth.
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Key Insights into the Liver Disease Therapeutics Market
Asia Pacific is expected to expand at the highest CAGR of 8.28% during the forecast period.
Asia Pacific is expected to grow at the highest CAGR of 8.28% during the forecast period. The liver disease treatment market is expanding in the region due to aging population and growing awareness about the importance of routine check-ups. Additionally, regulatory acceptance of cutting-edge technologies that can be used with imaging systems is expected to boost regional growth.
The non-alcoholic fatty liver disease (NAFLD) segment is expected to register the highest CAGR of 9.15% during the forecast period of the liver disease treatment market.
The non-alcoholic fatty liver disease (NAFLD) segment is expected to grow at the highest CAGR of 9.15% in the liver disease treatment market. It is caused by increased global incidence of diabetes and obesity. Non-alcoholic fatty liver disease (NAFLD) is a collective name for a group of diseases caused by excessive growth of fat in the liver. This condition often occurs in people who are obese or overweight.
The field of antiviral drugs dominates the market, with a market share of approximately 16.37% in 2022.
In 2022, the market share of antiviral drugs will be approximately 16.37%, dominating the market. It is precisely because investment in the market continues to grow that the advantages are huge. Each year, one-third of patients with health insurance receive direct-acting antiviral drugs (DAAs) after a hepatitis C diagnosis.
The hospital segment is expected to have the highest CAGR of 9.72% during the forecast period of the liver disease treatment market.
The hospital segment is expected to have the highest CAGR of 9.72% in the liver disease treatment market. The liver disease treatment market has been expanded by hospitals that provide good care to patients and enable early identification and diagnosis as most patients rely on diagnostic testing equipment in hospitals. In addition, ongoing medical infrastructure development is expected to improve existing hospital facilities.
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Market dynamics
Driver: Increased incidence of liver disease
Liver disease remains quite common around the world. More and more people are suffering from liver disease due to a sedentary lifestyle, lack of exercise and especially poor diet. The elderly population is aging and autoimmune diseases such as hepatitis and non-alcoholic fatty liver disease are increasingly prevalent. The significant increase in the number of patients can also be attributed to increased alcohol consumption. The increasing number of people undergoing treatment for various liver diseases will drive the growth of the global liver disease treatment market. To meet the growing demand for liver disease treatments, healthcare organizations are investing in creating new drugs, tools, and treatment options. Biotechnology companies and research organizations around the world have made significant contributions to the development of new drugs to treat liver disease. Due to developments and breakthroughs, the liver disease treatment market will become more competitive and successful. This is expected to create lucrative opportunities for market players and accelerate market growth.
Constraints: high cost
The high cost of drugs, surgeries, and surgeries required to treat liver diseases has significantly slowed down the market expansion. Market development is hampered by inadequate healthcare infrastructure, especially in rural or underserved areas, lack of understanding of liver diseases and their symptoms by the public and healthcare professionals, and the stigma associated with specific liver diseases, such as viral hepatitis or alcohol . Related liver disease. Difficulty in liver transplantation, stringent restrictions, and lack of development of effective liver disease drugs have restrained the market growth. Significant amounts of money are required to purchase medications and therapies for the treatment of liver disease and related conditions. Cirrhosis, cirrhosis complications, and comorbidities increase the burden of chronic disease. By leveraging cutting-edge technologies and developments, market players can improve the efficacy and safety of these drugs. However, these technologies and the new drug development process are expensive. The expensive regulatory approval process and numerous drug testing trials also add to the price. Therefore, the high cost of liver disease treatment will restrain the market growth.
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Some of the major players in the liver disease treatment market are:
• Johnson & Johnson Services Company
• F. Hofmann-La Roche Ltd.
• Pfizer
• Abbott Laboratories
• Novartis
• Eli Lilly and Company
• Gilead Sciences
• Bristol-Myers Squibb
• AbbVie
• Zydus Pharmaceuticals
Key segments covered by the market:
By disease type:
• Genetic diseases
• cancer
• Hepatitis
• Non-alcoholic fatty liver disease (NAFLD)
• Autoimmune diseases
• others
By treatment type:
• Vaccination
• Immunoglobulin
• Targeted therapy
• Antiviral drugs
• Chemotherapy
• Corticosteroids
• Immunosuppressants
By end user:
• Hospital
• Clinic
• Diagnostic laboratory
• others
by region
• North America (United States, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• South America (Brazil and other parts of South America)
• Middle East and Africa (UAE, South Africa, Middle East and Rest of Africa)
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About the report:
The market is analyzed based on value (USD billion). All segments have been analyzed on global, regional, and country basis. Each section of the study includes analysis of more than 30 countries. The report analyzes drivers, opportunities, restraints, and challenges to gain critical insights into the market. The study includes Porter’s Five Forces Model, Attraction Analysis, Product Analysis, Supply and Demand Analysis, Competitor Position Grid Analysis, Distribution and Marketing Channel Analysis.
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