Global liver diseases therapeutics market size was estimated at 23.33 USD Billion by 2028 and is anticipated to grow at a CAGR of 11.50 % during the projected time frame (2021-2028). The liver is a vital organ for digesting food and eradication of toxic substances. Liver disease can be inherited. Liver problems can also be caused by a numrous of factors that damage the liver, such as viruses, alcohol use, and obesity.
Increased alcohol consumption causes functional disabilities in the liver. For example, according to a recent report published by the World Health Organization (WHO) 2019, harmful consumption of alcohol is responsible fora 5.1 % burden of global diseases. Thus, increasing liver infection providing booster to the Liver therapeutic area.
Theliver diseases therapeutics market is showing rapid growth due to the increasing prevalence of liver diseases, an increase in the consumption of alcohol. These factors are driving the market growth. Besides, improper diet and increasing government initiatives of providing vaccines, and growing awareness playing a vital role in market growth.
The impact of COVID-19 on the liver diseases therapeutics market are the increasing number of COVID-19 ases has found the involvement of liver disease. The cause of liver injury in COVID-19 pandemic can be attributed to several factors, comprising virus-induced systemic inflammation, drug-induced liver disease, and hypoxia.
The COVIDâ19 has been associated with liverârelated mortality. COVIDâ19âs impact on healthcare assets has unfavorably affected the delivery of care and outcomes of patients with liver disease. Hence, there has been a decrease in the diagnosis, treatment, and follow-up of patients with liver disease, which had adverse consequences in the complete healthcare industry. Also, the clinical trials of drugs have slowed down as most companies have delayed the start for most of the new studies in numerousnations. The straighten regulation, and the risen side effects of drugs restraining market growth.
To exploit the vast growth opportunities across these regions, companies such as Novartis and GSK are establishing their operations across countries such as China and India to begin a sustainable and parallel source of revenue generation. Numerous other pharmaceutical companies are also starting research laboratories and R&D facilities across these regions and the number is predictable to continue to rise in the next few years.
Recently launched and developed are providing new opportunities for the market. Government providing fundings for research laboratories. The incidence rate of liver infection and liver carcinoma is providing new challenges to the market.
TABLE 1:GLOBAL MARKETSCOPE
Market Segmentation of Liver Diseases Therapeutics Market
Therapy Type of Liver Diseases Therapeutics Market
||Global Liver Disease Therapeutics Market Report
|Market Size and Forecasting
|Market Sizing Units
||Value In USD Billion
|Market Segmentation Covered
||Therapy Type, Distribution Channel, and Region
||North America, Europe, AsiaÂ Pacific, Middle East and Africa and South America.
|Major Key Players
||Takeda Pharmaceutical, Valeant Pharmaceuticals, Watson Pharmaceuticals, Inc., Theratechnologies Inc., Bristol-Myers Squibb, Gilead Sciences, Glaxosmithkline Inc.
|Number of Pages of Report
||Yes, Customization Is Available As Per The Requirements
By therapy type, the liver disease therapeutics market is classified into anti-rejection drugs/immunosuppressants, chemotherapy drugs, targeted therapy, vaccines, anti-viral drugs, immunoglobulinâs, corticosteroids.
The antiviral drugs segment dominated the overall market in terms of revenue. On account of the growing populace with increasing consumption of alcohol, and surge in the prevalence of liver diseases are among the major factors accounting for its large share. On the other hand, the antiviral drugs market sector is expected to observe profitabledevelopment from 2021 to 2030 on account of the presence of strong pipeline drugs in this sector.
Distribution Channel Analysis of Liver Diseases Therapeutics Market
By distribution channel, the liver diseases therapeutics market is classified into hospital pharmacies, retail pharmacies, online pharmacies. The hospital pharmacies segment is projected to account for the largest contribution to the liver disease therapeutic market.
In hospitals and other care providers now use recent technologies and advanced treatment to treat patients. Hence recovery rate is continuously rising. Furthermore, government fundings for the research and innovations proving a booster to the research laboratories, which altimetry boosts the demand for liver diseases therapeutics market.
Global Regional Analysis of Liver Diseases Therapeutics Market
By region, the global liver diseases therapeutics market has been classified by North America, Europe,Â Asia Pacific, Middle East & Africa, and South America. In terms of revenue, Europe and the Asia Pacific held a dominant position in the global liver diseases therapeutics market.
The region's dominance is attributable to favorable government policies for the research and development of various new applications, increasing funding for laboratories, rising demand from emerging economies, and the presence of well-developed healthcare infrastructure.
In North America, increasing approval for research, growing demand from end-user industries, increase in demand for quality products, and growing awareness for the industry is expected to increase the demand for liver diseases therapeutics market in the region.
Furthermore, Europe is projected to be the fastest growth rate in the global market during the forecast period. This growth can be accredited to several factors, such as the potentially large number of liver infection cases.
Key Companies listed
The major companies listed in the liver diseases therapeutics market are Takeda Pharmaceutical, Valeant Pharmaceuticals, Watson Pharmaceuticals, Inc., Theratechnologies Inc., Bristol-Myers Squibb, Gilead Sciences, Glaxosmithkline Inc.
These companies are spread over North America, Europe, South America, and Asia Pacific markets, which empowers it to take into account clients over the globe. The companyâs leading position in the liver diseases therapeutics market is endorsed by its wide product portfolio.
By Therapy Type:
- In April 2020, Alnylam Pharmaceuticals, Inc. work in partnership with Dicerna Pharmaceuticals, Inc. for the development and commercialization of investigational RNAi therapeutics for the treatment of alpha-1 antitrypsin deficiency-associated liver disease.
Â By Distribution channel:
- Anti-Rejection Drugs/Immunosuppressant's
- Chemotherapy Drugs
- Targeted therapy
- Anti-Viral Drugs
Â By Region:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North AmericaÂ Liver Diseases Therapeutics Market
- EuropeÂ Liver Diseases Therapeutics Market
- Asia PacificÂ Liver Diseases Therapeutics Market
- Middle East & AfricaÂ Liver Diseases Therapeutics Market
- South AmericaÂ Liver Diseases Therapeutics Market