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Different market factors influence the Liver Cirrhosis Treatment Market, which in turn affects its growth and dynamics. The rising prevalence of liver cirrhosis is one such driver globally. The rise in chronic liver diseases leads to a demand for effective treatment options attributed to alcohol consumption, viral hepatitis infection, and non-alcoholic fatty liver disease (NAFLD). The Liver Cirrhosis Treatment Market is influenced critically by advancements in medical research and technology. Ongoing efforts of pharmaceutical companies and healthcare researchers result in the creation of innovative therapies and drugs. These improvements not only enhance the effectiveness of existing treatments but also introduce novel approaches, thereby providing healthcare professionals with more tools for managing liver cirrhosis. This makes the market dynamic as the ever-changing field of medical science drives it.
Demographics, like an aging population, are major considerations that determine how the liver cirrhosis treatment market behaves. As people get older, they start facing a higher risk of chronic liver conditions–cirrhosis inclusive-. The availability and accessibility of health infrastructure significantly determines the outcome on this front. Regions with advanced healthcare systems have better capacities to diagnose and treat patients who have cirrhosis effectively. In contrast, regions lacking adequate healthcare resources may face difficulties in giving timely or comprehensive services, something that influences market growth in such areas. Reimbursement policies/guidelines and government/insurance companies' expenditure on healthcare are key market characteristics influencing adoption rates for treating liver cirrhosis. With good reimbursement policies, patients may be encouraged to go for medical intervention at the right time, besides sticking to their prescriptions. Poor reimbursement mechanisms may prevent access to certain therapies, thus undermining overall market growth.
The liver cirrhosis treatment market is affected by patient awareness, and education is a critical determinant of this, too. Enhancing knowledge about risk factors, symptoms, and available treatment alternatives may enable early diagnosis; hence, treatment can commence before the condition worsens further. Over time, partnerships between research institutions, pharmaceutical companies, and healthcare organizations have driven innovation in liver cirrhosis treatment. These collaborations facilitate the development of new therapies and other interventions by combining resources and expertise. By merging all stakeholders, an environment is created that enables progress in liver disease treatment to take place for the advantage of patients, thus causing market expansion. Thus, this section highlights critical areas that affect Liver Cirrhosis Treatment market competition among participants as well as the regulatory framework that governs their actions. In terms of stringent regulation, they help to guarantee safety and therapeutic utility while providing confidence to physicians or even patient populations who may be interested in such treatments. High competition forces firms to invest heavily in research and development, hence increasing the importance of innovation within a dynamic business community.
Liver Cirrhosis Treatment Market Highlights:
Liver Cirrhosis Treatment Market Forecast
The Liver Cirrhosis Treatment Market is expected to reach USD 14803.26 Million by 2030 at 10.90% CAGR during the forecast period 2022-2030
Liver Cirrhosis Treatment Market Synopsis
Liver cirrhosis is a disease in which the liver is severely damaged and scarred, hence leading to liver failure. A lot of research activities are being carried out by major pharmaceutical companies to develop novel drugs for the treatment of liver cirrhosis. Rapidly changing lifestyle is increasing the risk of people suffering from liver cirrhosis. Moreover, people suffering from hepatitis, cystic fibrosis, syphilis, alpha-1 antitrypsin deficiency, alcohol abuse, and other liver diseases are at greater risk of suffering from liver cirrhosis. As of 2015, 887,000 deaths people died suffering from hepatitis B. Most of these deaths were because these patients were suffering from liver cirrhosis and hepatocellular carcinoma (primary liver cancer) along with hepatitis B.
Market Influencer
The increasing prevalence of liver cirrhosis expected to contribute to the growth of the liver cirrhosis treatment market in the near future.
Market Drivers
- Increasing prevalence of liver cirrhosis. As of January 2019, liver cirrhosis accounted for 3.5% of all the deaths worldwide.
- Rapidly changing lifestyle
- Growing awareness programs regarding liver diseases
- Rising R&D investment for the development of innovative drugs for liver diseases
- High geriatric population. Between the years 2015 and 2050, the percentage of geriatric population is expected to double from 12% to 22%.
- Increasing demand for better treatment methods for curing liver cirrhosis
Market Restraints
- Stringent government regulations
- High investment required for drug research and development
- Side-effects of medications prescribed for liver cirrhosis
Liver Cirrhosis Treatment Market Segmentation
By Treatment
- Antibiotics: The largest segment of the liver cirrhosis treatment market. Antibiotics are prescribed for infections associated with liver cirrhosis. As of February 2016, 30% to 50% of deaths of cirrhosis patients occurred because of bacterial infections.
- Immunosuppressants: The fastest-growing segment. Immunosuppressants are prescribed to reduce the body’s ability to reject the transplanted liver. Approximately, 8,082 liver transplants were performed in 2016.
- Others: This segment includes medications prescribed for the treatment of underlying causes of liver cirrhosis such as Hepatitis B or C. Moreover, antihypertensive drugs, drugs for the reduction of ammonia, medications for reduction of blood pressure, and nutritional supplements are also covered in this segment.
By End-User
- Hospitals and Clinics: The largest segment. Hospitals and clinics are the primary points of care for the treatment of liver cirrhosis. Rising prevalence of liver cirrhosis is expected to drive the liver cirrhosis treatment market growth.
- Research and Academic Institutes: These centers carry out research activities for the innovation of novel drugs for the treatment of liver cirrhosis.
- Others: This segment includes centers for home care and elderly population.
By Region
- Americas: The largest regional market. The prevalence of liver cirrhosis is high in the Americas. Approximately, 88,000 people died suffering from alcohol-related liver disease and liver cirrhosis in the US as of October 2017. Moreover, the healthcare infrastructure in the Americas is also developed, which contributes to liver cirrhosis treatment market growth. Furthermore, major pharmaceutical companies such as Pfizer Inc. and Gilead Sciences, Inc. are headquartered in the US which positively contributes to the growth of the liver cirrhosis treatment market in the Americas.
- Europe: An increasing geriatric population and rising R&D investment for the development of innovative drugs for liver diseases is anticipated to drive the market growth in Europe. Finland and the UK are known to observe increasing level of liver disease mortality since the last 40 years. European countries such as the UK, Germany, and France among others, have a well-developed healthcare infrastructure, which contributes to the growth of the liver cirrhosis treatment market in Europe.
- Asia-Pacific: The fastest-growing regional market. Asia-Pacific is seeing a surge in the number of people suffering from liver cirrhosis. Moreover, government and non-government organizations are conducting awareness programs for liver cirrhosis which is expected to drive the liver cirrhosis treatment market growth. Furthermore, the geriatric population is prone to various liver diseases, and it is increasing in countries such as India, Japan, and China, which is positively affecting liver cirrhosis treatment market growth. It is estimated that, by the year 2050, one in four people in Asia and the Pacific region would be aged 60 years or more.
- Middle East & Africa: The liver cirrhosis treatment market is expected to show significant growth due to the rising patient population suffering from liver cirrhosis. The liver cirrhosis treatment market in the Middle East is expected to show more growth as compared to the African market owing to fast-developing healthcare facilities in the Middle Eastern countries such as Saudi Arabia, Qatar, and Oman.
Liver Cirrhosis Treatment Market Key Players
- Pfizer, Inc. (US)
- Merck & Co., Inc. (Germany)
- Novartis AG (Switzerland)
- Hoffmann-La Roche Ltd (Switzerland)
- Takeda Pharmaceutical Company Limited (Japan)
- Gilead Sciences, Inc. (US)
- AstraZeneca (UK)
- Bayer AG (Germany)
- Sanofi (France)
- Shionogi Inc. (Japan)
- Promethera (Belgium)
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