Liver cirrhosis refers to scarring of the liver caused by long-term liver damage and disease. Some of the common causes include excessive alcohol consumption, viral hepatitis, non-alcoholic fatty liver disease and others. Treatment for liver cirrhosis involves management of symptoms, treatment of underlying cause and mitigating further liver damage. The Liver Cirrhosis Market is primarily driven by increasing prevalence of chronic liver diseases and technological advancements in treatment options.
The Liver Cirrhosis Market is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024-2031.
Liver cirrhosis treatment products aim to minimize liver damage, prevent further scarring and prolong survival. Some of the key products in the market include antiviral drugs, alcohol deterrent medications, corticosteroids, chemotherapy and liver transplantation. With rising healthcare expenditure and improved access to diagnosis and care, the need for effective liver cirrhosis treatment options is increasing globally.
Key Takeaways
Key players operating in the liver cirrhosis market are Madrigal Pharmaceuticals, Inc., Galectin Therapeutics Inc., Grifols Therapeutics LLC, Cyma Bay Therapeutics, Akero Therapeutics, Inc. These players are focusing on developing novel treatment mechanisms such as thyroid hormone receptor-β agonists, liverX receptor agonists and others.
The key opportunities in the liver cirrhosis market include development of curative and preventive therapies. Cell and gene-based therapies hold promise for reversing cirrhosis and inhibiting progression to end-stage liver disease.
North America and Europe dominate the global market due to high adoption of advanced treatment options. However, Asia Pacific is witnessing fastest growth owing to improving access to healthcare and rising medical tourism in the region. Key players are also expanding their presence in emerging markets through collaborations.
Market Drivers:
- Rising prevalence of hepatitis B and C viruses and non-alcoholic fatty liver disease (NAFLD) as primary causative agents is driving the market growth. According to WHO, nearly 257 million and 71 million people are living with hepatitis B and C virus respectively.
- Increasing awareness regarding available treatment options and early diagnosis is prompting patients to seek timely management of cirrhosis.
Market Restraints:
- High cost of advanced treatment methods limits their access and adoption in developing regions. For instance, liver transplantation costs nearly US$ 812,000 in the United States on an average.
- Limited treatment efficacy poses major challenge as cirrhosis progresses to late stages. There is need for novel drugs targeting different liver disease mechanisms.
Segment Analysis
The liver cirrhosis market is segmented based on treatment type, end user and region. Treatment type segment includes medications, surgery & liver transplant. Medications segment dominates the market owing to large patient pool requiring drug treatment. Liver transplant & surgery segments are also major contributors but are limited by related risks and costs. Based on end users, the hospital pharmacies segment holds a significant share as they are the primary point of dispensing medications for outpatients. Retail pharmacies and online pharmacies are other major end user segments in this market.
Global Analysis:
Regionally, North America holds the largest share in the liver cirrhosis market and is expected to maintain its dominance during the forecast period. This is owing to the increasing prevalence of liver diseases and high healthcare expenditure. Europe is the second largest market due to rising awareness. However, Asia Pacific region is likely to witness fastest growth rate due to improving healthcare infrastructure and growing healthcare expenditure. Increasing adoption of advanced treatment options andpresence of key players also contribute to market growth in Asia Pacific region. India and China are expected to emerge as lucrative markets for liver cirrhosis treatment over the coming years.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
What Are The Key Data Covered In This Liver Cirrhosis Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Liver Cirrhosis Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Liver Cirrhosis Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Liver Cirrhosis Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Liver Cirrhosis Market vendors
FAQ’s
Q.1 What are the main factors influencing the Liver Cirrhosis Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Liver Cirrhosis Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Liver Cirrhosis Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it