Liver Disease Treatments

The growth of the global market is attributed to increase in prevalence of liver diseases, rise in drug discovery and research, development activities for safe.

PORTLAND, OREGON, UNITED STATES, March 10, 2022 /EINPresswire.com/ -- 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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Onkar Sumant, Manager, Healthcare at Allied Market Research "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".

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.

The report offers detailed segmentation of the global liver disease treatment market based on type, application, and region.

Increase in alcohol consumption leads to death of healthy liver cells and reduces the ability to generate new ones as well as leads to buildup of fats leading to liver diseases. For instance, according to the National Center for Drug Abuse Statistics 2021, about 34.1% reported binge drinking at least once and 7.0% reported extreme binge drinking. Furthermore, a survey conducted by Johns Hopkins University of Maryland Baltimore, about 60.1% of participants report drinking more alcohol after March 1, 2020. Thus, such high alcohol consumption is expected to lead to liver disorders and further drive the growth of the liver disease treatment market.

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Based on region, North America accounted for a majority of the global liver disease treatment market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in consumption of alcohol, unhealthy lifestyle leading to obesity & weight gain, presence of key players, and rise healthcare expenditure in the region.

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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.

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.

David Correa
Allied Analytics LLP
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