Yahoo Finance Global Liver Fibrosis Treatment Market to Surpass US$ 33.4 Billion by 2030, Says Coherent Market Insights (CMI)
Seattle, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global liver fibrosis treatment market is estimated to be valued at US$ 14.7 billion in 2022 and is expected to exhibit a CAGR of 10.8% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Liver Fibrosis Treatment Market:
Increasing incidence of liver fibrosis, along with growing prevalence of risk factors such as chronic infection with hepatitis B or C virus, compromised immune system due to co-infection with human immunodeficiency virus (HIV) or use of immunosuppressive drugs after a liver transplant are expected to fuel growth of the liver fibrosis treatment market. For instance, in June 2022, according to data published by World Health Organization, it was estimated that 296 million people were living with chronic hepatitis B infection in 2019, with 1.5 million new infections every year. In 2019, hepatitis B resulted in an estimated 820 000 deaths, mostly from cirrhosis and hepatocellular carcinoma (primary liver cancer). Hepatitis C prevalence was 0.49% among general population in the U.S. region in 2019. The incidence of hepatitis C in the region was 230 000, while the deaths were estimated to be 77000 in 2019.
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Key Market Takeaways:
Global liver fibrosis treatment market is expected to exhibit a CAGR of 10.8% during the forecast period due to increasing research and development activities for developing Non-Contrast Magnetic Resonance Imaging methods for detecting, discriminating, and measuring liver fibrosis. For instance, in May 2018, Children's Hospital Medical Center, academic pediatric acute care children's hospital, was working on developing Non-Contrast Magnetic Resonance Imaging methods for detecting, discriminating, and measuring liver fibrosis. The development of the Non-Contrast Magnetic Resonance Imaging methods will make easy to detect the liver fibrosis type and any infection related to liver which would help physicians to treat it with correct medication. Thus, the launch of the non-contrast magnetic resonance Imaging methods would help in easy diagnosis of liver fibrosis.
Among treatment type, hepatotropic drug accounted for significant market share in liver fibrosis treatment market, as it enables safe and efficient treatment for reducing fibrosis in patients.
Among region, North America market accounted for the largest market share, followed by Europe in 2022. This is owing to increasing burden of potential risk factors leading to liver fibrosis such as obesity, type 2 diabetic, metabolic fibrosis, hepatitis C, non-alcoholic steatohepatitis (NASH), non-alcoholic fatty liver disease (NAFLD), among others. For instance, according to the NASH Education Program, 2018 data findings, NAFLD is most common chronic liver condition in Western population of economies in the Europe and the U.S. region as compared to obesity and type 2 diabetes epidemics. Furthermore, in the U.S., hepatitis C is the most common chronic viral infection found in blood and spread through contact with blood. According to the data published by the Center for Disease Control and Prevention, researchers estimate that about 2.7 million to 3.9 million people in the U.S. had chronic hepatitis C in the year 2018.
Competitive Landscape:
Key players operating in the global liver fibrosis treatment market include Gilead Sciences, Inc., Merck & Co., Inc., Bristol-Myers Squibb, Johnson and Johnson, Novartis AG, Vertex Pharmaceuticals Incorporated, Pfizer Inc., FibroGen, Inc., and Pharmaxis Limited
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Market Segmentation:
Global Liver Fibrosis Treatment , By Treatment Type :
Peroxisome Proliferator-activated Receptors (PPAR)-alpha agonist
ACE Inhibitors
Hepatotropic Drug
Others
Global Liver Fibrosis Treatment , By Condition:
Chronic Liver Diseases
Hepatitis C
Nonalcoholic Steatohepatitis
Global Liver Fibrosis Treatment , By Distribution Channel:
Hospitals
Specialty Clinics
Others
Global Liver Fibrosis Treatment , By Region:
North America
By Country
U.S.
Canada
Latin America
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country
GCC
Israel
Rest of Middle East
Africa
By Region/Country
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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