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.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “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,”
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.
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.
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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