Liver Diseases Therapeutics Market Overview 2024: Size, Growth Drivers, and Major Segments
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What is the Expected Growth Rate of the Liver Diseases Therapeutics Market for the Period 2024 to 2033?
There has been a robust expansion in the market size of liver diseases therapeutics in past years. The market is expected to rise from $13.02 billion in 2023 to $14.07 billion in 2024, exhibiting a compound annual growth rate (CAGR) of 8.0%. The surge observed in the historical timeframe can be linked to factors like the high incidence of liver diseases, patterns of alcohol consumption, progress in diagnostics, issues related to obesity and metabolic syndrome, along with the implementation of awareness and screening initiatives and governmental efforts at hepatic disease control.
Over the next several years, the market size for liver disease therapeutics is predicted to experience substantial growth, with expectations to reach a size of $18.98 billion by 2028, growing at a compound annual growth rate (CAGR) of 7.8%. This predicted growth in the forecast period stems from factors such as precision medicine strategies, advancements in RNA treatments, a concentration on fibrosis treatments, patient advocacy and support groups, the creation of hepatitis vaccines, and regulatory endorsement for rare-disease drugs. Notable trends in the forecast period include progression in hepatitis C treatments, the emergence of innovative treatments for liver fibrosis, the investigation of immunotherapies, the utilization of telemedicine and remote monitoring, and an emphasis on nutritional interventions.
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What Factors Are Responsible for the Growth of the liver diseases therapeutics Market?
The escalating occurrence of liver conditions is projected to fuel the expansion of the liver disease therapeutics market. Any condition impacting the liver is referred to as liver disease. Therapies for liver disease play a crucial role in managing these conditions using a variety of treatments. As an example, in September 2023, the American Liver Foundation, a non-profit organization based in the US, released reports revealing that liver disease had been identified in 4.5 million individuals (1.8%) in the US, and liver disease claimed the lives of 51,642 adults in the U.S. in 2020. Consequently, the increasing occurrence of liver diseases propels the advancement of the liver disease therapeutics market.
Which Segments Are Important for Insight into the Liver Diseases Therapeutics Market?
The liver diseases therapeutics market covered in this report is segmented –
1) By Disease Type: Hepatitis, Non-Alcoholic Fatty Liver Disease, Alcohol-Induced, Liver Cancer
2) By Treatment: Antiviral, Vaccines, Chemotherapy, Immunosuppressive Agents, Corticosteroids
3) By End User: Hospitals, Ambulatory Surgery Centers, Other End Users
What Are the Significant Trends Reshaping the Liver Diseases Therapeutics Sector?
The trend of strategic alliances is becoming increasingly essential in the liver disease therapeutics market. To reinforce their standing in this market, principal companies are increasingly opting for collaborations. For instance, Aligos Therapeutics Inc., a biopharmaceutical firm based out of the USA, entered a strategic partnership in January 2022 with Merck & Co., another US company active in the liver disease therapeutics market. The joint venture aims to explore and develop oligonucleotide treatments for non-alcoholic steatohepatitis. Similarly, in January 2021, Novartis, a Swiss company engaged in liver disease therapeutics, joined forces with Alnylam, a biopharmaceutical firm located in the USA. The goal of this partnership is to produce a liver-targeted therapy to possibly replace transplantation for patients dealing with liver failure.
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Which Regions Are Essential for the Growth of the Liver Diseases Therapeutics Market?
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 Liver Diseases Therapeutics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the liver diseases therapeutics market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Liver Diseases Therapeutics Market Include
1. Liver Diseases Therapeutics Market Executive Summary
2. Liver Diseases Therapeutics Market Segments
3. Liver Diseases Therapeutics Market Size And Template Market Growth Rate
4. Key Liver Diseases Therapeutics Market Trends
5. Major Liver Diseases Therapeutics Market Drivers
……
25. Key Mergers And Acquisitions In The Liver Diseases Therapeutics Market
26. Top Liver Diseases Therapeutics Companies
27. Liver Diseases Therapeutics Market Opportunities And Strategies
28. Liver Diseases Therapeutics Market, Conclusions And Recommendations
29. Appendix
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