Liver Disease Treatment Market to Reach $36.45 Bn, Globally, by 2030 at 5.7% CAGR: AMR
Increase in incidence of liver disease and surge in government and non-government awareness program have boosted the growth of the global liver disease treatment market
PORTLAND, Ore., Jan. 17, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Liver Disease Treatment Market by Treatment Type (Antiviral Drugs, Immunosuppressants, Vaccines, Immunoglobulins, Corticosteroids, Targeted Therapy, Chemotherapy Drugs) and Disease Type (Hepatitis, Autoimmune Diseases, Non-alcoholic Fatty Liver Disease (NAFLD), Cancer, Genetic Disorders and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global liver disease treatment industry 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.
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Drivers, restraints, and opportunities
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.
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.
The antiviral drugs segment held the lion's share
By treatment type, the antiviral drugs segment dominated the market in 2020, accounting for more than two-fifths of the global liver disease treatment market, due to rise in prevalence of virus infected liver diseases and availability of branded and generic drugs. However, the immunosuppressants segment is projected to register the highest CAGR of 7.5% during the forecast period, owing to rise in autoimmune diseases and increase in liver transplants.
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The cancer segment to portray the highest CAGR through 2030
By end user, the cancer segment is expected to showcase the highest CAGR of 7.8% during the forecast period, due to rise in alcohol consumption, obesity, and hepatitis cases. However, the hepatitis segment held the lion's share in 2020, contributing to more than four-fifths of the global liver disease treatment market, owing to rise in the number of hepatitis cases across the globe.
North America held the largest share
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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