Fatty Liver Treatment Global Market Outlook 2023-2032: Size And Growth Rate Analysis
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As per The Business Research Company’s Fatty Liver Treatment Global Market Report 2023, The global fatty liver treatment market is expected to grow from $20.83 billion in 2022 to $22.17 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The fatty liver treatment market is expected to reach $27.98 billion in 2027 at a CAGR of 6%.
What was the major driver in the fatty liver treatment market?
The increase in alcohol consumption is expected to propel the growth of the fatty liver treatment market going forward. Alcohol consumption refers to consuming beverages containing alcohol, a psychoactive substance with depressant effects on the central nervous system. Alcohol consumption can worsen fatty liver disease and lead to more severe liver conditions, including alcoholic fatty liver disease (AFLD) and alcoholic hepatitis. For instance, in December 2022, according to a report published by Kirin Holdings Company Limited, a Japan-based beverages company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from 2020. Therefore, the increase in alcohol consumption is driving the growth of the fatty liver treatment market.
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What was the key trend in the fatty liver treatment market?
Product innovation is a key trend gaining popularity in the fatty liver treatment market. Major companies operating in fatty liver treatment are developing innovative products to strengthen their position in the market. For instance, in March 2023, Akero Therapeutics, a US-based biotechnology company, reported positive Phase II reports of efruxifermin, indicated for the treatment of non-invasively diagnosed nonalcoholic fatty liver disease (NAFLD) and nonalcoholic steatohepatitis (NASH). It is a differentiated Fc-FGF21 fusion protein that mimics the biological activity of fibroblast growth factor 21 (FGF21), which regulates multiple metabolic pathways and cellular processes.
Which was the largest region in the fatty liver treatment market?
North America was the largest region in the fatty liver treatment market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in fatty liver treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the fatty liver treatment market prominent players?
Major players in the fatty liver treatment market are Pfizer Inc., Johnson & Johnson Services Inc., Hoffmann La Roche Ltd., AstraZeneca plc, Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A., The Bristol-Myers Squibb Company, GlaxoSmithKline plc, Mitsubishi Chemical Holdings, Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Novo Nordisk A/S, Eisai Co. Ltd., Zydus Lifesciences Limited, Glenmark Pharmaceuticals Limited, GW Pharmaceuticals Limited, Retrophin Inc., Alnylam Pharmaceuticals Inc., Intercept Pharmaceuticals Inc., AbbKine Scientific Co. Ltd., Daewoong Co. Ltd., Madrigal Pharmaceuticals Inc., Orchid Chemicals & Pharmaceuticals Limited, Genfit, NGM Biopharmaceuticals Inc., Cardax Inc., Conatus Pharmaceuticals Inc., and Limerick Biopharma Inc.
Key fatty liver treatment market segments
The global fatty liver treatment market is segmented –
1) By Treatment Type: Anti-Rejection Drugs Or Immunosuppressants, Chemotherapy Drugs, Targeted Therapy, Vaccines, Anti-Viral Drugs
2) By Disease Type: Hepatitis, Liver Cancer, Non-Alcoholic Fatty Liver Disease, Other Diseases
3) By End User: Hospitals, Ambulatory Surgery Centers, Other End Users
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