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.
Changing lifestyle such as increasing consumption of alcohol, unhealthy diets have increased the incidences of liver disease. Whereas, growing geriatric population has lead to significant addition in the world liver disease treatment market. There is huge market potential for this market as the occurrences of disorders have become common. Government and non government awareness programs would help the growth of liver disease treatment Industry.
However, stringent government regulations (FDA, MHRA), high cost incurred in drug research and development pose a crucial challenge for liver disease treatment Industry. Side effect associated with medication is the growing concern expected for declining of market value. Patent expiry and growing health awareness in public would encourage the growth of the market. New research and development will provide immense opportunity for market players. For instance, Yaqrit Limited has developed a new product, Yaq-001 which will be introduced in 3 years for treatment of chronic liver diseases.
The liver disease treatment market is segmented into treatment type and geography. By treatment type the market is bifurcated into Chemotherapy drugs, targeted therapy, anti-viral drugs, immunoglobulins, corticosteroids, vaccines, anti-rejection drugs/immunosuppressant. By geography segmented into North America, Europe, APAC and LAMEA. North America is bifurcated into the U.S., Mexico and Canada whereas Europe have been further segmented into UK, Russia, Germany, Italy, France and rest of Europe. APAC comprises of China, India, Japan, South Korea, Taiwan and rest of Asia Pacific. LAMEA includes Latin America, Middle East and Africa.
TOP WINNING STRATEGIES
WHO estimated increase in liver disease due to rising alcohol drinking in Europe whereas; more than 1000 people die of liver cancer due to aflatoxin in western pacific region. The major companies covered under the scope of the study are Gilead Science Inc., Bayer AG, AstraZeneca, GlaxoSmithKline plc, Merck & Co. Inc, Sanofi, Pfizer Inc., F. Hoffmann-La Roche AG, Novartis AG, and Johnson &Johnson Private Limited among others
Changing lifestyle patterns such as increasing consumption of alcohol, unhealthy diets
Unhealthy diet, high stress levels and unorganized lifestyle patterns are the major driving forces of liver disease treatment market. Numbers of overweight and obesity in developed countries have quadrupled since 1980 thereby, escalating the risk of liver diseases. In addition, growing alcohol consumption has fueled rise in fatal liver disease. These drivers have increased incidences of liver diseases which would propel the growth of liver disease treatment market in future.
Increasing incidences of liver diseases
Increasing incidences of obesity, metabolic syndrome, diabetes and cardiovascular disorders that lead to liver diseases are another major factor boosting the growth of liver disease treatment market. Additionally, increasing prevalence of liver disease due to side effects of other drugs such as acetaminophen and poor hygienic and sanitation conditions are expected to drive the market in the coming years.
Growing geriatric population
Structural dysfunction or alteration due to aging mainly leads to liver diseases. According to the National Institute of Aging, geriatric population is likely to increase by 86% till 2050. The increasing rates of geriatric population have resulted in rise of the incidences of liver diseases, which further escalating the demand of liver disease treatment market.
Government and non government awareness program /Liver organizations
With increasing prevalence of liver diseases, increasing awareness has become a necessity. Government and not-for-profit organizations are playing a crucial role in the rising awareness about the liver diseases around the world. These organizations promote the awareness of the liver related diseases and support for research and development for the prevention, treatment and cure of liver diseases.
Increasing R&D to develop innovative products
Several companies are investing in their R&D to develop innovative and advanced treatment for liver disease. Research and development of high efficient and less or no side effects pharmaceutical drugs would drive the market in the near future.
Availability of generic and bio-similar drugs
Patent expiry in upcoming years of various block-buster liver disease treatment drugs have created new gateway for the entrance of generic market. Moreover, due to the low cost of generic drugs compared to the branded therapies, there is more preference towards generic drugs or bio similar drugs for the treatment of various diseases.
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