(MENAFN- EIN Presswire)
PORTLAND, IL, UNITED STATES, September 11, 2024 /EINPresswire / -- The growth of the global liver disease treatment market is attributed to increase in prevalence of liver diseases, rise in drug discovery and research, development activities for safe and effective therapies. Moreover, increase in alcohol consumption, obesity and rise in healthcare expenditure is expected to drive the market growth during the forecast years.
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.
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
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.
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Liver is one of the most important organs in the human body, since it eliminates unwanted substances from the blood, regulates chemical levels in the body, and stores nutrients for all cellular and biological activity. The phrase "liver disease" refers to a wide range of issues that cause the liver to fail to perform its primary function. Hepatitis, cirrhosis, liver cancer, and liver abscess are examples of liver diseases.
Liver problems can be caused by a variety of factors that damage the liver, such as viruses, alcohol use, and obesity. Viruses, alcohol consumption, and obesity are all examples of conditions that can harm the liver. Damage to the liver over time can cause scarring (cirrhosis), which can lead to liver failure, which is a life-threatening condition. However, early treatment may enable the liver to recover.
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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)
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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.
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.