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.
According to the report published by Allied Market Research, the global liver disease treatment market size was valued at $20,673.70 million in 2020, and is estimated to reach $36,455.70 million by 2030, growing at a CAGR of 5.7% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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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.
- 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.
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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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About Allied Market Research:
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 domains.
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