Liver Diseases Therapeutics Market Research Report Overview and Forecast 2021 - 2028
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 numerous 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 for a 5.1 % burden of global diseases. Thus, increasing liver infection providing booster to the Liver therapeutic area.
The liver 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 cases 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 COVID‐19 has been associated with liver‐related mortality. COVID‐19’s 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 numerous nations. The straighten regulation, and the risen side effects of drugs restraining market growth.
Key Development
- 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.
Market Segmentation
By Therapy Type:
- Anti-Rejection Drugs/Immunosuppressant’s
- Chemotherapy Drugs
- Targeted therapy
- Vaccines
- Anti-Viral Drugs
- Immunoglobulin’s
- Corticosteroids
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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.
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