According to the report “Global Liver Disease Treatment Market,” published by Market Data Forecast, the global market is projected to reach USD 17.25 billion by 2021 from USD 9.25 billion in 2016, at a CAGR of 11.72% from 2016 to 2021.
Liver failure occurs when large parts of the liver become damaged beyond repair and the liver is no longer able to function.
Liver failure is a life-threatening condition that demands urgent medical care. Most often, liver failure occurs gradually and over many years. However, a more rare condition known as acute liver failure occurs rapidly (in as little as 48 hours) and can be difficult to detect initially.
If detected early enough, acute liver failure caused by an overdose of acetaminophen can sometimes be treated and its effects reversed. Likewise, if a virus causes liver failure, supportive care can be given at a hospital to treat the symptoms until the virus runs its course. In these cases, the liver will sometimes recover on its own.
For liver failure that is the result of long-term deterioration, the initial treatment goal may be to save whatever part of the liver is still functioning. If this is not possible, then a liver transplant is required. Fortunately, liver transplant is a common procedure that is often successful.
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Global Liver Disease Treatment Market: Drivers & Restraints
The growth of Liver Disease Treatment market is majorly driven by factors such as boost in Research & Development investment, unorganized lifestyle, rising public awareness, growth in geriatric population, and unmet needs for the treatment of liver cancer. Additionally, spur in demand for alcohol has increased the risk of liver cirrhosis. According to World Health Organization, alcohol consumption is anticipated to cause 20% to 50% of cirrhosis of the liver. Also, growing obese population has also increased the risk of non-alcoholic fatty liver disease which is caused by build-up of fat in the liver. The obese population has doubled since 1980. In 2014, approximately 13% of the world’s population, that is, more than 600 million adults were obese as per World Health Organization. The key restraints of the market are complex drug approval procedure, side-effects of the product (fatigue, fever, and depression), high cost incurred for product’s R&D process, and competition from alternative medicine (Herbal, Natural medicine).
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Global Liver Disease Treatment market: Segmentation
- Immunosuppressive Agents
- Non-Alcoholic Fatty Liver Disease
- Alcohol Induced
- Liver Cancer
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Global Liver Disease Treatment market: Overview
Liver disease is characterized by improper functioning of liver, causing disorders like hepatitis, fatty liver, and cirrhosis. Some of the major drug categories used in the treatment of various types of liver diseases includes antirejecting drugs, vaccines, immunosuppressant, chemotherapy drugs and antiviral drugs.
Liver disease comprises of wide range of complex conditions affecting the liver. Liver disease treatment market is assured to grow on account of unmet clinical needs and upcoming treatment modifications. Number of novel agents has shown improvements in clinical trials such as obeticholic acid, thiazolidinediones and vitamin E for treatment of nonalcoholic fatty liver diseases. Additionally, according to American Cancer Society liver cancer rates increases 2.7% every year propelling the growth of market.
Global Liver Disease Treatment market: Region-wise Outlook
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Middle-East and Africa. North America is expected to command the major market share of 39% in 2016 followed by Europe. Asia Pacific is anticipated to be the fastest growing region for the product with a CAGR of 12.51% during the forecast period 2016-2021.
Key Questions Answered
- What is the current and future Liver Disease Treatment market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Liver Disease Treatment space globally?
- What are the key, high growth markets that Liver Disease Treatment should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Liver Disease Treatment currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Liver Disease Treatment?
- What are the challenges and barriers that have hindered widespread adoption of Liver Disease Treatment?
Global Liver Disease Treatment market: Key Players
The major companies dominating the global Liver Disease Treatment Market are Gilead Science Inc. (U.S.), Pfizer Inc. (U.S.), Merck & Co. (U.S.), Johnson & Johnson (U.S.), Novartis (Switzerland), Roche (Switzerland), Sanofi-Aventis (France), Abbott Laboratories (U.S.), Bayer Schering AG (Germany), and AstraZeneca (United Kingdom).
Reasons to buy Liver Disease Treatment market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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