With new product lines being launched and a strong pipeline of liver therapeutic products in development, it is expected that the field of liver therapeutics will experience huge revenue generation in the near future. In 2011, the total worth of the global liver therapeutics was USD 6,502.9 million. The major driving factors for the growth of this market are aging population, high prevalence of chronic liver diseases and rise in demand for vaccination programs in emerging economies.
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However, stringent regulatory framework of FDA and similar other regulatory bodies may turn out to be a hold back for the development of this market as such framework may delay the early introduction of the drugs in the market. On the other hand, consolidation of the major market share in the hands of few pharmaceutical giants namely Merck, GSK, BMS and others has made the competitive rivalry in the liver disease therapeutics market very intense.
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The lack of viable alternatives to liver diseases therapeutics has made the future of this market very lucrative. At present the market of liver therapeutics is led by anti-viral drugs. This leadership is further followed by vaccines used for liver disease prevention. Among all the segments, chemotherapy is estimated to undergo fastest growth. It is justified by the fact that by 2014, a new drug – ThermoDox will be launched, which will bring transition in the chemotherapy market.
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This market is also witnessing consolidation of new pharmaceutical companies with the existing market players through mergers and acquisitions. Growth in general healthcare awareness among people in the emerging economies, rise in average disposable income and healthcare expenditure will serve as future growth opportunity for this market.
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