Liver Disease Treatment Market Report
Liver Disease Treatment Market by Treatment (Anti-rejection Drugs/Immunosuppressants, Chemotherapy Drugs, Targeted Therapy, Vaccines, and Anti-viral Drugs), Disease Type (Hepatitis, Liver Cancer, Non-alcoholic Fatty Liver Disease, and Others), End-user (Hospitals, Ambulatory Surgery Centers, and Other End-users), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Global Liver Disease Treatment Market Analysis
The global liver disease treatment market is anticipated to garner $32,028.5 million in the 2021–2028 period, rising from $13,348.3 million in 2020, at a noteworthy CAGR of 11.7%.
Growing government awareness programs to create enormous impact on the global liver disease treatment market.
However, less availability along with high investment cost of drugs particularly across the developing nations may obstruct the global liver disease treatment market growth.
According to the regional analysis of the liver disease treatment market, Asia-Pacific region is anticipated to surge at a CAGR of 14.0%, by registering a revenue of $4,099.7 million, during the forecast period.
Liver Disease Treatment Overview
Liver is the largest solid internal organ in the body which helps in removing toxins from the blood supply. It also regulates blood clotting, performs hundreds of other vital functions, and maintains healthy blood sugar levels. However, any disturbance in the functioning of liver that causes illness is a liver disease (hepatic disease). The signs and symptoms associated with liver disease includes abdominal pain and swelling, jaundice, dark urine color, itchy skin, and nausea.
Covid-19 Impact on Liver Disease Treatment Market
In response to the Covid-19 pandemic, business sectors namely transportation, petroleum, retail, and tourism industry have been forced to reconsider their business models and policies. Global liver disease treatment market has also witnessed declined growth, throughout the pandemic period mainly because of disruption in supply chain along with halt in the novel drug development projects.
On the other hand, alcohol-associated liver disease (ALD) surged as significant number of people drank more throughout the COVID-19 crisis. For example, in 2020, according to the UK's Office for National Statistics, country’s largest independent producer of official statistics, approximately 80% of the alcohol-associated deaths were due to ALD. Furthermore, key players operating in the liver disease treatment market are coming up with effective collaborations. For instance, in December 2020 Gilead Sciences, Inc., an American research-based biopharmaceutical company, announced the acquisition of MYR GmbH, a German based healthcare company emphasized on the development and commercialization of therapeutics for the chronic liver disease treatment. Gilead announced to acquire MYR for around $1.36 billion in cash. Such huge investments may further create significant opportunities for the investors, post COVID-19 outbreak.
Growing Government and Non-Government Awareness Programs to Create Enormous Impact on the Global Liver Disease Treatment Market
Liver disease specifically non-alcoholic fatty liver disease (NAFLD) is the abnormal accumulation of excess fat in the liver. NAFLD is emerging as the main cause of chronic liver disorder in the developing countries such as India and China. Hence, government bodies are coming up with novel and attractive programs to fight with liver diseases. For instance, in February 2021, Indian government announced the integration of NAFLD in the National Program for prevention & Control of Cancer, Diabetes, Cardiovascular Diseases & stroke (NPCDCS). This program is mainly focused on multiple factors including early diagnosis and management of NAFLD, along with building healthcare infrastructure for prevention, diagnosis, and treatment of NAFLD. Such government initiatives may further flourish the market for liver disease treatment market, in the forecast period.
To know more about global liver disease treatment market drivers, get in touch with our analysts here.
A High Investment Cost may obstruct the Growth of the Global Liver disease Treatment Market
Requirement of high investment in the development of liver disease treatment drugs may restrict the global liver disease treatment market growth, in the analysis period. Moreover, stringent government policies by Medicines and Healthcare products Regulatory Agency (MHRA) and U.S. Food and Drug Administration (FDA) combined with side effect associated with medicines are some the factors hampering the global market growth.
Extensive Increase in the Burden of Liver Diseases Particularly in the LAMEA Region to Create Enormous Opportunities for the Global Market in the Future
The prevalence of liver diseases remains high worldwide particularly in the Latin American and Middle East countries. The death rate caused by liver disease in Egypt is by far the highest across the globe, followed by other African countries. For example, as per data published in 2018 by World life expectancy, the largest global health and life expectancy database, liver disease death rate per 100,000 patients in Egypt, Nigeria, Ivory Coast, and São Tomé is 116.0, 64.4, 62.1, and, 60.7 respectively. Further, according to the, Translational Gastroenterology and Hepatology, an open-access, peer-reviewed, international, PubMed-indexed online journal, prevalence of NAFLD in the Middle East region was around 32% in 2019. Hence, the demand for liver disease medications is expected to grow exponentially.
Therefore, government bodies of the Middle East countries are coming up to fight against liver diseases. For example, in June 2019, Egypt government announced that it would be supplying hepatitis C testing and treatment facilities for 1 million people in an around 14 African countries. The initiative would be undertaken in the economies including Chad, Burundi, Djibouti, the Democratic Republic of Congo, Eritrea, Equatorial Guinea, Kenya, Ethiopia, Mali, South Sudan, Somalia, Sudan, Uganda, and Tanzania. Such government developments are expected to create market opportunities in the coming years.
To know more about global liver disease treatment market opportunities, get in touch with our analysts here.
Liver Disease Treatment Market
By Treatment type
Source: Research Dive Analysis
The antiviral drugs sub-segment is projected to have the dominating share of the liver disease treatment market size in 2020, and it is expected to register a revenue of $13,503.3 million by 2028. Significantly growing investments in the field of antiviral drugs, mainly owing to its enormous benefits is creating positive impact on the antiviral drug’s sub-segment. In addition, increase in healthcare expenditure, surge in the public awareness, and growing incidence of hepatitis B and C are some important factors projected to continue to augment market growth.
Moreover, prominent players of the market are coming up with novel innovations in order to strengthen their presence worldwide. For example, In June 2021, Gilead Sciences, an American biopharmaceutical company, proposed a plan to file for approval of ‘Hepcludex’, the antiviral drug for hepatitis D virus (HDV) in the US. Hepcludex is an excellent entry inhibitor registered in Russia as ‘Myrcludex B’ and also granted by the European Commission. Such company inventions are further expected to create enormous opportunities, across the globe.
Liver Disease Treatment Market
By Disease type
Source: Research Dive Analysis
The non-alcoholic fatty liver disease sub-segment of the global liver disease treatment market is estimated to grow at the most notable CAGR and surpass $3,667.2 million by 2028, with a rise from $1,380.6 million in 2020.Massive increase in the prevalence of obesity worldwide, increase in awareness about liver conditions in developing region, upsurge in diabetes, and notable R&D funding are some of the crucial factors propelling the sub-segments growth. Further, according to the National Diabetes Statistics Report, 2020 published by CDC, almost 34.2 million people have diabetes in the US (10.5% of US population) and it is a 7th leading cause of death in the country. These key elements are further anticipated to drive the demand for NAFLD medications market.
Along with this, improvisation of healthcare infrastructure and availability of proper diagnostic facilities for treatment of the disease is likely to boost the sub-segment’s growth, in the forecast period.
The hepatitis sub-segment of the global liver disease treatment market will have largest share and it is projected surpass $21,729.3 million by 2028, with a rise from $9.124.4 million in 2020. In recent several years, the inflammation condition of liver tissue has massively increased owing to the medication errors, excessive alcohol consumption, autoimmune diseases, viral infection, and nonalcoholic steatohepatitis. According to the WHO, in 2019, almost 290,000 patients died from hepatitis C along with 820, 000 patients died from hepatitis B across the globe. Such facts & figures showcase that the demand for hepatitis medications are expected increase notably, which will accelerate the sub-segment’s growth, in the analysis period.
Also, increasing awareness regarding hepatitis treatment medicines including tenofovir (Viread), entecavir (Baraclude), adefovir (Hepsera) lamivudine (Epivir), and telbivudine (Tyzeka) across the developing regions is also creating positive impact on the sub-segment’s growth.
Liver Disease Treatment Market
By End User
Source: Research Dive Analysis
The hospitals sub-segment of the global liver disease treatment market is expected to have dominating share and grow at the most notable CAGR. The hospital sub-segment will surpass $22,276.3 million by 2028, with a rise from $9,325.8 million in 2020.Availability of the integrated liver treatment hospitals across the European and American countries with a dedicated team comprising some of the best liver surgeons and hepatologists is one of the major factors driving the sub-segment’s growth. Also, modernization of healthcare facilities along with government’s favorable schemes are accelerating the growth of hospitals sub-segment. In addition to this, increasing occurrence of chronic liver diseases such as live tumor and cirrhosis is also making positive impact on the hospital sub-segment.
Global Liver Disease Treatment Market, Regional Insights:
The liver disease treatment market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Liver Disease Treatment in Asia-Pacific to be the Most Lucrative
Asia-Pacific liver disease treatment market accounted $1,455.0 million in 2020 and is expected to register a revenue of $4,099.7 million by 2028.
The extensively increasing need for advanced and innovative liver disease therapeutics particularly in China, India, and South Korea is one of the key elements boosting the development of the industry. Also, one of the major factors behind this growth can be the increasing prevalence of NAFLD and hepatitis, lack of expertise, and the poor healthcare infrastructure in the region. Further, aging population combined with dramatic growth in the overweight and obesity rates in China and Australia is raising the chances of liver disease, which is further expected to boost the demand for liver disease treatment market, in the region.
The North America Liver Disease Treatment Market to be the Most Dominant
Liver disease treatment market for North America region is highly competitive and leading companies in the market are adopting multiple strategies to garner highest North America liver disease treatment market share. North America liver disease treatment market accounted $6,287.1 million in 2020 and is expected to register a revenue of $14,861.2 million by 2028.
Massive Increase in the alcohol consumption along with use of illegal drugs are some of the crucial factors that contributes toward the liver disease market growth in the North America region. For example, according to the 2019 national survey on drug use and health (NSDUH), US based survey that gives up-to date information on alcohol and tobacco, almost 85.6 % of people aging 18 and older found that they drank alcoholic beverages at some point in their life-span, in the US. Moreover, around 54.9% Americans reported that they consumed alcohol in the past months. These facts & figures showcase that the demand for treatment of alcohol- related cirrhosis and hepatitis is expected to increase, which may accelerate the North America liver disease treatment market, in the forecast period.
Also, companies operating in the region are following strategic tie-ups to deal with liver diseases. For example, in April 2019, Gilead Sciences Inc., an American biopharmaceutical firm headquartered in California, announced to collaborate with Novo Nordisk, Denmark-based leading healthcare company for the development of a liver disease drug molecule. As per this agreement, Gilead may combine firsocostat and cilofexor, its investigational drugs with Novo Nordisk's semaglutide in order to treat NASH. Such company initiatives are also further expected to create novel opportunities in the global market.
Competitive Scenario in the Global Liver Disease Treatment Market
Treatment type launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading Liver disease treatment market players are Pfizer Inc., Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc., Sanofi, Novartis AG, Bayer AG, Bristol Myers Squibb (BMS), Gilead Sciences, Inc., and AbbVie.
Porter’s Five Forces Analysis for the Global Liver Disease Treatment Market:
- Bargaining Power of Suppliers: The suppliers operating in the global liver disease treatment are high in number and are much larger and more globalized. So, there will be less threat from the supplier.
Thus, the bargaining power of the supplier is low.
- Bargaining Power of Buyer: Buyers demand effective liver disease treatment in lower cost. This has increased the pressure on the multiple drug manufacturers to offer the medications in a cost-effective way. Thus, many suppliers have started offering best yet cost –effective liver disease treatment. This gives the buyers the option to freely choose liver disease treatment that best fits their preference.
Thus, the bargaining power of the buyer is high.
- Threat of New Entrants: The companies entering the global liver disease treatment market are adopting technological innovations to attract customers. Also, these companies are implementing various effective strategies and there is government support in some countries.
Thus, threat of the new entrants is high.
- Threat of Substitutes: There is no alternative treatment type available.
Thus, the threat of substitutes is low.
- Competitive Rivalry in the Market: The competitive rivalry among the industry leaders is rather intense, especially between the global players including Bristol Myers Squibb (BMS), Gilead Sciences, Inc., and AbbVie. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
Therefore, the competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Treatment type
Segmentation by Disease Type
Segmentation by End-user
Key Countries Covered
U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Brazil, Saudi Arabia, United Arab Emirates, Rest of LAMEA
Key Companies Profiled
Q1. What is the size of the liver disease treatment market?
A. The global Liver disease treatment market size was over $13,348.3 million in 2020 and is projected to reach $32,028.5 million by 2028.
Q2. Which are the major companies in the liver disease treatment market?
A. F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc., and Sanofi are some of the key players in the global Liver disease treatment Market.
Q3. Which region possesses greater investment opportunities in the coming future?
A. The Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the future.
Q4. What is the growth rate of the Asia-Pacific market?
A. Asia-Pacific liver disease treatment market is anticipated to grow at 14.0% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Capacity expansion, treatment type development, along with joint ventures are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Novartis AG, Bristol Myers Squibb (BMS), and Gilead Sciences, Inc. are investing more on R&D activities for developing new treatment types and technologies.
Q7. What is the best treatment for liver disease?
A. Several lifestyle changes such as avoiding consumption of tobacco and alcohol can be the best treatment for liver disease.
Q8. Can liver disease be cured?
A. Viral infections including hepatitis A, C, and infectious mononucleosis can be managed and not cured.
Q9. What foods are good for liver repair?
A. Coffee, Cruciferous Vegetables, Fatty Fish, Beets, Turmeric, and Soy such food items are good for the liver repair.
Q10. What are signs that your liver is not functioning properly?
A. Loss of appetite, nausea, and blood in the stool are some of the symptoms of liver dysfunction.
Q11. What is the best medicine for liver disease?
A. Ciprofloxacin, Norofloxacin, Ceftriaxone, Rifaximin, Ofloxacin, Amoxicillin-clavulanate, are some of the best medicines over liver disease.
Q12. Can fatty liver be cured?
A. Fatty liver disease can be cured if patients take action, including a 10% sustained loss in body weight.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.By treatment trends
2.3.By disease type trends
2.4.By end user trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.2.by disease type
3.8.3.by end user
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.4.Distribution channel analysis
220.127.116.11.Raw material suppliers
4.Liver Disease Treatment Market, by Treatment
4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028
4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028
4.4.1.Market size and forecast, by region, 2020-2028
4.4.2.Comparative market share analysis, 2020 & 2028
4.5.1.Market size and forecast, by region, 2020-2028
4.5.2.Comparative market share analysis, 2020 & 2028
5.Liver Disease Treatment Market, by Disease type
5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028
5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028
5.3.Non-Alcoholic Fatty Liver Disease
5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028
5.4.1.Market size and forecast, by region, 2020-2028
5.4.2.Comparative market share analysis, 2020 & 2028
6.Liver Disease Treatment Market, by End User
6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028
6.2.Ambulatory Surgery Centers
6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028
6.3.Other End Users
6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Comparative market share analysis, 2020 & 2028
7.Liver Disease Treatment Market, by Region
7.1.1.Market size and forecast, by treatment, 2020-2028
7.1.2.Market size and forecast, by disease type, 2020-2028
7.1.3.Market size and forecast, by end user, 2020-2028
7.1.4.Market size and forecast, by country, 2020-2028
7.1.5.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by treatment, 2020-2028
22.214.171.124.Market size and forecast, by disease type, 2020-2028
126.96.36.199.Market size and forecast, by end user, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
184.108.40.206.Market size and forecast, by treatment, 2020-2028
220.127.116.11.Market size and forecast, by disease type, 2020-2028
18.104.22.168.Market size and forecast, by end user, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
126.96.36.199.Market size and forecast, by treatment, 2020-2028
188.8.131.52.Market size and forecast, by disease type, 2020-2028
184.108.40.206.Market size and forecast, by end user, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
7.2.1.Market size and forecast, by treatment, 2020-2028
7.2.2.Market size and forecast, by disease type, 2020-2028
7.2.3.Market size and forecast, by end user, 2020-2028
7.2.4.Market size and forecast, by country, 2020-2028
7.2.5.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by treatment, 2020-2028
22.214.171.124.Market size and forecast, by disease type, 2020-2028
126.96.36.199.Market size and forecast, by end user, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
184.108.40.206.Market size and forecast, by treatment, 2020-2028
220.127.116.11.Market size and forecast, by disease type, 2020-2028
18.104.22.168.Market size and forecast, by end user, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
126.96.36.199.Market size and forecast, by treatment, 2020-2028
188.8.131.52.Market size and forecast, by disease type, 2020-2028
184.108.40.206.Market size and forecast, by end user, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by treatment, 2020-2028
22.214.171.124.Market size and forecast, by disease type, 2020-2028
126.96.36.199.Market size and forecast, by end user, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
184.108.40.206.Market size and forecast, by treatment, 2020-2028
220.127.116.11.Market size and forecast, by disease type, 2020-2028
18.104.22.168.Market size and forecast, by end user, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
7.2.11.Rest of Europe
126.96.36.199.Market size and forecast, by treatment, 2020-2028
188.8.131.52.Market size and forecast, by disease type, 2020-2028
184.108.40.206.Market size and forecast, by end user, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
7.3.1.Market size and forecast, by treatment, 2020-2028
7.3.2.Market size and forecast, by disease type, 2020-2028
7.3.3.Market size and forecast, by end user, 2020-2028
7.3.4.Market size and forecast, by country, 2020-2028
7.3.5.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by treatment, 2020-2028
22.214.171.124.Market size and forecast, by disease type, 2020-2028
126.96.36.199.Market size and forecast, by end user, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
184.108.40.206.Market size and forecast, by treatment, 2020-2028
220.127.116.11.Market size and forecast, by disease type, 2020-2028
18.104.22.168.Market size and forecast, by end user, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
126.96.36.199.Market size and forecast, by treatment, 2020-2028
188.8.131.52.Market size and forecast, by disease type, 2020-2028
184.108.40.206.Market size and forecast, by end user, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by treatment, 2020-2028
22.214.171.124.Market size and forecast, by disease type, 2020-2028
126.96.36.199.Market size and forecast, by end user, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
184.108.40.206.Market size and forecast, by treatment, 2020-2028
220.127.116.11.Market size and forecast, by disease type, 2020-2028
18.104.22.168.Market size and forecast, by end user, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
7.3.11.Rest of Asia Pacific
126.96.36.199.Market size and forecast, by treatment, 2020-2028
188.8.131.52.Market size and forecast, by disease type, 2020-2028
184.108.40.206.Market size and forecast, by end user, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
7.4.1.Market size and forecast, by treatment, 2020-2028
7.4.2.Market size and forecast, by disease type, 2020-2028
7.4.3.Market size and forecast, by end user, 2020-2028
7.4.4.Market size and forecast, by country, 2020-2028
7.4.5.Comparative market share analysis, 2020 & 2028
18.104.22.168.Market size and forecast, by treatment, 2020-2028
22.214.171.124.Market size and forecast, by disease type, 2020-2028
126.96.36.199.Market size and forecast, by end user, 2020-2028
188.8.131.52.Comparative market share analysis, 2020 & 2028
184.108.40.206.Market size and forecast, by treatment, 2020-2028
220.127.116.11.Market size and forecast, by disease type, 2020-2028
18.104.22.168.Market size and forecast, by end user, 2020-2028
22.214.171.124.Comparative market share analysis, 2020 & 2028
126.96.36.199.Market size and forecast, by treatment, 2020-2028
188.8.131.52.Market size and forecast, by disease type, 2020-2028
184.108.40.206.Market size and forecast, by end user, 2020-2028
220.127.116.11.Comparative market share analysis, 2020 & 2028
8.1.4.Recent strategic moves & developments
8.2.Johnson & Johnson Services, Inc.
8.2.4.Recent strategic moves & developments
8.3.F. Hoffmann-La Roche Ltd
8.3.4.Recent strategic moves & developments
8.4.4.Recent strategic moves & developments
8.5.4.Recent strategic moves & developments
8.6.4.Recent strategic moves & developments
8.7.4.Recent strategic moves & developments
8.8.Bristol Myers Squibb (BMS)
8.8.4.Recent strategic moves & developments
8.9.Gilead Sciences, Inc.
8.9.4.Recent strategic moves & developments
8.10.4.Recent strategic moves & developments
Liver is the strongest solid organ in the human body and plays a crucial role in various bodily functions, such as production of protein, cholesterol, regulation of iron homeostasis, toxins, blood clotting, blood sugar levels, and many more. All the potential problems leading to liver failure, restricting the liver to perform its intrinsic functions can be specified as a liver disease. Certain liver problems can be treated with lifestyle improvements such as abstinence from alcohol, adopting of healthy foods, and losing weight, while others may require rigorous medications and even surgery.
Forecast Analysis of the Global Liver Disease Treatment Market
The global liver disease treatment market is expected to witness a remarkable growth during the forecast period (2021-2028), owing to the increasing initiatives taken by the government of various countries for the treatment of surging problems of liver diseases. Increasing prevalence of non-alcoholic fatty liver disease (NAFLD) leading to chronic liver disorders among various people across the globe are expected to drive the growth of the liver disease treatment market during the forecast period. But extortionate investment cost in the development of liver disease treatment drugs is expected to impede the growth of the market in the coming years. However, significant increase in the consumption of alcohol among millennials worldwide and growing prevalence of various non-government awareness programs across the globe are expected to create immense opportunities for the growth of the liver disease treatment market during the analysis period.
According to the report published by Research Dive, the global liver disease treatment market is expected to generate a revenue of $32,028.5 million by 2028, growing exponentially at a CAGR of 11.7% during the forecast period. The major players of the market include Pfizer Inc., AbbVie, Bayer AG, Sanofi, Novartis AG, Gilead Sciences Inc., Bristol Byers Squibb, GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, and many more.
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global liver disease treatment market to grow exponentially.
For instance, in March 2020, Zydus Cadila, an Indian multinational pharmaceutical company engaged in the manufacture of generic drugs, received approval for its new drug application for Saroglitazar from the Drug Controller General of India (DCGI) in order to treat Non-Cirrhotic, Non-Alcoholic SteatoHepatitis (NASH) in India, making it the first ever drug in the world for the treatment of the disease.
In October 2020, HemoShear Therapeutics, LLC, a dominant biotechnology company collaborated with Takeda Pharmaceuticals, global, research and development-driven pharmaceutical company, in order to discover, analyze and develop novel therapeutics for liver diseases, along with nonalcoholic steatohepatitis (NASH).
In December 2020, Gilead Sciences, Inc., an American biopharmaceutical company acquired MYR GmbH, a German biotechnology company in order to maximize Gilead Sciences’ market share and presence in the global liver disease treatment market.
Most Profitable Region
The Asia-Pacific region is expected to have the largest market share and generate a revenue of $4,099.7 million during the forecast period. Significant rise in the aging population and the surging obesity rate in this region is expected to drive the growth of the market in this region. In addition, growing need for advanced liver disease therapeutics due to the extensive prevalence of hepatitis and NAFLD in the Asia Pacific region is further expected to bolster the regional market growth by 2028.
Impact of COVID-19 on the Market
The outbreak of COVID-19 has had an adverse impact on the growth of the global liver disease treatment market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns disrupted the production, distribution, and supply chain of liver disease treatment medications around the world. Stringent travel restriction imposed by the government of various impeded the import and export of raw materials as well as the medications. Thus, the pandemic has had a negative impact on the growth of the global liver disease treatment market.