PUBLISHER: The Business Research Company | PRODUCT CODE: 1425615
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425615
Liver Diseases Therapeutics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on liver diseases therapeutics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for liver diseases therapeutics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The liver diseases therapeutics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Liver disease therapeutics encompass treatments for various liver ailments, predominantly those triggered by viruses such as hepatitis A, B, and C, often exacerbated by excessive alcohol consumption.
The primary disease classifications within liver disease therapeutics include hepatitis, non-alcoholic fatty liver disease, alcohol-induced conditions, and liver cancer. Hepatitis denotes liver inflammation caused by infectious viruses or noninfectious agents, leading to diverse health complications, some of which can be life-threatening. Treatment modalities encompass antiviral medications, vaccines, chemotherapy, immunosuppressive agents, and corticosteroids. End-users of these therapeutics span hospitals, ambulatory surgery centers, and other sectors.
The liver diseases therapeutics market research report is one of a series of new reports from The Business Research Company that provides liver diseases therapeutics market statistics, including liver diseases therapeutics industry global market size, regional shares, competitors with a liver diseases therapeutics market share, detailed liver diseases therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the liver diseases therapeutics industry. This liver diseases therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The liver diseases therapeutics market size has grown strongly in recent years. It will grow from $13.02 billion in 2023 to $14.07 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The expansion observed in the historical period can be linked to the widespread occurrence of liver diseases, patterns of alcohol consumption, advancements in diagnostic technologies, the impact of obesity and metabolic syndrome, increased awareness, and the implementation of screening programs. Additionally, government initiatives aimed at controlling hepatitis have also played a significant role in this growth.
The liver diseases therapeutics market size is expected to see strong growth in the next few years. It will grow to $18.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. Anticipated growth in the upcoming period is associated with the adoption of precision medicine strategies, advancements in RNA therapeutics, increased attention on treatments for fibrosis, the influence of patient advocacy and support groups, ongoing developments in hepatitis vaccines, and regulatory backing for orphan drugs. Key trends expected in this period encompass progress in treating hepatitis C, the emergence of innovative therapies for liver fibrosis, exploration of immunotherapies, the integration of telemedicine and remote monitoring, and a heightened focus on nutritional interventions.
The escalating incidence of liver diseases is projected to drive growth in the liver disease therapeutics market. Liver disease encompasses various conditions affecting the liver, and therapeutic interventions play a crucial role in addressing these maladies. Reports from the American Liver Foundation in September 2023 indicated a diagnosis of liver disease in 4.5 million individuals (1.8%) in the US, with 51,642 adult fatalities attributed to liver disease in 2020. Consequently, the increasing prevalence of liver diseases acts as a key driver for the expansion of the liver disease therapeutics market.
The expanding geriatric population is expected to fuel growth in the liver disease therapeutics market. Liver disease therapeutics cater to the health concerns of the elderly, significantly enhancing their quality of life and addressing liver-related conditions effectively. Global projections from the World Health Organization in October 2022 estimate that by 2030, 1 in 6 individuals globally will be aged 60 or older, reaching 2.1 billion by 2050. Additionally, data from the UK Parliament's House of Commons Library in June 2021 forecasts that by 2043, 24% of the UK's total population, approximately 17.4 million people, will comprise senior citizens. This demographic trend contributes substantially to the growth of liver disease therapeutics.
Strategic partnerships represent a prominent trend in the liver disease therapeutics market. Leading companies within this sector are engaging in collaborations to fortify their positions. For instance, in January 2022, Aligos Therapeutics Inc., a US-based biopharmaceutical company, partnered with Merck & Co. to develop oligonucleotide therapies for non-alcoholic steatohepatitis. Similarly, in January 2021, Novartis collaborated with Alnylam to develop liver-targeted therapies as potential alternatives to transplantation for patients experiencing liver failure.
Prominent players in the liver disease therapeutics market prioritize innovative technologies, notably artificial intelligence (AI), to enhance patient care. AI applications in liver disease therapeutics involve sophisticated computational algorithms and machine learning techniques to analyze medical data, facilitating early detection, precise diagnosis, and personalized treatment strategies for liver diseases. For example, Predictive Health Intelligence, a UK-based healthcare information management company, unveiled hepatoSIGHT in February 2023. hepatoSIGHT, an AI-powered tool, predicts liver fibrosis in chronic liver disease patients, aiding case-finding and cohort mapping. It offers comprehensive data analysis, machine learning algorithms, real-time risk stratification, and user-friendly interfaces for efficient patient identification within seconds.
In September 2022, GENFIT, a biopharmaceutical company headquartered in France, completed the acquisition of Versantis for an undisclosed sum. This strategic acquisition integrates Versantis' specialized expertise in liver disease therapeutics with GENFIT's extensive knowledge in executing intricate development programs focused on liver diseases. This collaboration serves to reinforce and expedite research and development efforts, substantially broadening GENFIT's pipeline in this field. Versantis, based in Switzerland, specializes in therapeutic solutions for liver diseases.
Major companies operating in the liver diseases therapeutics market report are Astellas Pharma Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG, Merck & Co. Inc., Novartis AG, GlaxoSmithKline PLC, Abbott Laboratories Inc., Pfizer Inc., Sanofi SA, Johnson & Johnson Services Inc., Bayer AG, AbbVie Inc., Takeda Pharmaceutical Company Limited, Valeant Pharmaceuticals, Watson Pharmaceuticals Inc., AstraZeneca PLC, Gilead Sciences Inc., Endo International PLC, Alnylam Pharmaceuticals Inc., Provectus Biopharmaceuticals Inc., Intercept Pharmaceuticals Inc., Conatus Pharmaceuticals Inc., CymaBay Therapeutics Inc., Viking Therapeutics Inc., Madrigal Pharmaceuticals Inc., NGM Biopharmaceuticals Inc., Arrowhead Pharmaceuticals Inc., Dicerna Pharmaceuticals Inc., Ionis Pharmaceuticals Inc., Enanta Pharmaceuticals Inc
North America was the largest region in the liver diseases therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the liver diseases therapeutics market report during the forecast period. The regions covered in the liver diseases therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the liver diseases therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The liver diseases therapeutics market includes revenues earned by entities by diagnosis such as imaging, laboratory tests, endoscopy, and biopsy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.