by The liver cirrhosis market comprises treatment therapies targeting end-stage liver diseases characterized by scarring or fibrosis of the liver. Liver cirrhosis develops gradually due to continued damage to the liver from conditions such as hepatitis, non-alcoholic steatohepatitis, and long-term heavy alcohol use. The standard treatments for liver cirrhosis include antiviral medications, liver transplantation, corticosteroids, beta-blockers, and dietary changes. However, there remains a need for innovative therapies with improved efficacy and reduced side effects.
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.
Key Takeaways
Key players operating in the liver cirrhosis market are Madrigal Pharmaceuticals, Inc., Galectin Therapeutics Inc., Grifols Therapeutics LLC, CymaBay Therapeutics, Akero Therapeutics, Inc. Key players are focusing on developing first-in-class therapeutics targeting the underlying drivers of liver cirrhosis. The market also presents opportunities for drugs targeting non-alcoholic steatohepatitis (NASH) induced cirrhosis given the growing prevalence of obesity and diabetes globally. The increasing R&D activities and clinical trials for novel treatment options are expected to drive the expansion of the Liver Cirrhosis Market during the forecast period.
The key opportunities in the liver cirrhosis market include the growing prevalence of chronic liver disease risk factors such as rising alcoholic liver disease in developing economies owing to changing lifestyles. Additionally, the increasing research on therapies targeting specific molecular pathways involved in the progression of liver fibrosis presents lucrative opportunities. Furthermore, Asia Pacific and Latin America are expected to witness high growth owing to improving access to diagnosis and treatment in these regions.
Market Drivers
The primary market driver is the rising alcohol consumption globally. According to the WHO, harmful use of alcohol resulted in approximately 3 million deaths annually between 2016–2019. High alcohol intake is the most common cause of liver cirrhosis worldwide. Other contributors include growing obesity rates resulting in a rise in non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH). The increasing research exploring the molecular mechanisms of liver fibrosis combined with growing demand for novel effective treatment options is further expected to drive the growth of the liver cirrhosis market during the forecast period.
PEST Analysis
Political: Major changes in government regulations and healthcare policies will impact the development and pricing of liver cirrhosis treatment options. Regulation on drug pricing and approval process needs consideration.
Economic: Economic growth and increasing per capita healthcare expenditure is driving the growth of this market. However, the high cost of novel therapies can limit access in regions with budget constraints.
Social: Growing acceptance and awareness about chronic liver conditions is supporting early diagnosis. changing lifestyles impacting the prevalence of associated risk factors like obesity and diabetes.
Technological: Developments in disease understanding at molecular level enabling novel therapeutics. Promising pipeline includes candidates targeting key disease mechanisms. Imaging and diagnostic technologies improving monitoring and relapse prediction.
The regions accounting for the major share of the Liver Cirrhosis Market in terms of value are North America and Europe owing to advanced healthcare facilities, high awareness levels and presence of leading market participants. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period driven by expanding patient pool, growing medical tourism and improving access and quality of care.
Japan currently holds the largest share among Asian countries. Whereas, China is expected to notch up higher gains supported by its large population base affected by rising non-alcoholic fatty liver disease prevalence caused by changing lifestyles and dietary patterns. Latin American countries are poised to showcase growth led by Brazil on account of improving reimbursement scenario and initiatives promoting diagnosis and management of liver conditions.
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
About Author - Alice Mutum
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
