LIVER DISEASES THERAPEUTICS MARKET ANALYSIS

Liver Diseases Therapeutics MarketSize and Trends

The global liver diseases therapeutics market is estimated to be valued at US$ 17.0 billion in 2023 and is expected to exhibit a CAGR of 9.8% during the forecast period (2023-2030).

Global Liver Diseases Therapeutics Market – Driver

Approval of newer drugs by regulatory bodies for treatment of liver diseases

The increasing approval by the U.S. Food and Drug Administration for the treatment of liver diseases is expected to drive the growth of the global liver diseases therapeutics market over the forecast period. For instance, on May 29, 2020, U.S. Food and Drug Administration (FDA) approved atezolizumab (Tecentriq) and bevacizumab (Avastin) as an initial treatment for people with liver cancer that has spread or that can’t be treated with surgery. In the study that led to the approval, called IMbrave150, liver cancer patients treated with atezolizumab and bevacizumab lived substantially longer without their cancer getting worse than those treated with sorafenib (Nexavar).

Strategies like collaborations to introduce newer therapies in liver disease treatment

The increasing collaborations between key market players is expected to drive the growth of the global liver disease therapeutics market. For instance, on November 4, 2022, Alimentiv Inc., U.S. based biotechnology company, collaborated with Summit Clinical Research, U.S. based research institute, to tackle non-alcoholic steatohepatitis. According to research of carried by Alimentive Inc., there are over 100 drugs in clinical development. An improved clinical trial design, faster recruitment, reduced failure rate and improved patient experience can be achieved due to expertise of Summit clinical research institute as research organization in carring out clinical trials.