Liver Disease Treatment Market Recent Developments 2023
Added: (Wed Jul 24 2019)
Pressbox (Press Release) -
Market Overview:
Liver Disease Treatment Market is expected to reach USD 20.1 billion by 2023 from USD 11.55 billion in 2018, growing at a CAGR of 11.72% during the forecast period, 2018-2023. Liver is a vital organ of the body performing umpteen complex functions such as fighting infections, removing toxins, bile secretion, and it produces clotting factors, proteins, and cholesterol, among others. Malfunctioning of liver can be life-threatening as it can cause multiple acute and chronic diseases (hepatitis, non-alcoholic fatty liver disease, liver cancer, liver tumour, and liver cirrhosis, among others). The initial symptoms of liver damage include nausea, fatigue, diarrhoea, jaundice, swollen abdomen, and mental disorientation among other. Acute liver damage can be treated through proper medication, if detected early, otherwise liver transplant is required. Liver damage can be prevented by adopting healthy lifestyle and practicing proper hygiene.
Market Drivers and Restraints:
The growth of Liver Disease Treatment market is majorly driven by factors such as boost in Research & Development investment, unorganized lifestyle, rising public awareness, growth in geriatric population, and unmet needs for the treatment of liver cancer. Additionally, spur in demand for alcohol has increased the risk of liver cirrhosis. According to World Health Organization, alcohol consumption is anticipated to cause 20% to 50% of cirrhosis of the liver. Also, growing obese population has also increased the risk of non-alcoholic fatty liver disease which is caused by build-up of fat in the liver. The obese population has doubled since 1980. In 2014, approximately 13% of the world’s population, that is, more than 600 million adults were obese as per World Health Organization. The key restraints of the market are complex drug approval procedure, side-effects of the product (fatigue, fever, and depression), high cost incurred for product’s R&D process, and competition from alternative medicine (Herbal, Natural medicine).
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Report segmented as
By Disease Type:
Hepatitis
Non-Alcoholic Fatty Liver Disease
Alcohol Induced
Liver Cancer
Others
By Type:
Antiviral
Vaccines
Chemotherapy
Immunosuppressive Agents
Corticosteroids
Geographical Analysis:
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Middle-East and Africa. North America is expected to command the major market share of 39% in 2018 followed by Europe. Asia Pacific is anticipated to be the fastest growing region for the product with a CAGR of 12.51% during the forecast period 2018-2023.
Important Market Players:
The major companies dominating the global Liver Disease Treatment Market are Gilead Science Inc. (U.S.), Pfizer Inc. (U.S.), Merck & Co. (U.S.), Johnson & Johnson (U.S.), Novartis (Switzerland), Roche (Switzerland), Sanofi-Aventis (France), Abbott Laboratories (U.S.), Bayer Schering AG (Germany), and AstraZeneca (United Kingdom).
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
About Us:
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
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