Global Chronic Liver Diseases Therapeutics Market, by Treatment Type (Antiviral Drugs, Immunosuppressant’s, Vaccines, Immunoglobulin’s, Corticosteroids, Targeted Therapy, and Chemotherapy), by Disease Type (Hepatitis, Autoimmune Diseases, Non-alcoholic Fatty Liver Disease (NAFLD), Cancer, Genetic Disorders, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 15.2 Billion in 2023 and is expected to exhibit a CAGR of 10.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting inorganic growth strategies such as collbrations, which will drive the global chronic liver diseases therapeutics market. For instance, in July 2021, The University of Texas, MD Anderson Cancer Center, a medical center in the U.S. with clinical facilities for patient care, basic science, and translational research and Blueprint Medicines Corporation is precision therapy company that inventing medicines for people with cancer and blood disorders, Company has developed a small molecule drug pipeline in cancer and a rare genetic disease, announced a three-year strategic research collaboration focused on accelerating development of BLU-222, an investigational precision therapy designed to target cyclin-dependent kinase 2 (CDK2).The collaboration together MD Anderson translational research scientists, the drug development capabilities of MD Anderson’s Therapeutics Discovery division and Blueprint Medicines’ precision therapy pipeline and expertise. The teams seek to characterize the range of cancer types susceptible to treatment with a selective CDK2 inhibitor, advance BLU-222 mono- and combination-therapy strategies with the potential to maximize patient benefit, and identify novel biomarkers that may better predict liver treatment response and optimize patient selection.
Global Chronic Liver Diseases Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of thingss from one place to another.
COVID-19 had a positive impact on the global chronic liver diseases therapeutics market..For instance, In May 2021, study by the American Association for the Study of Liver Diseases (AASLD) found a strong link between cirrhosis and immune system problems.This was linked to a poor COVID-19 prognosis as well as alcoholic liver damage and cirrhosis.
Global Chronic Liver Diseases Therapeutics Market: Key Developments
In July 2021, Beckman Coulter, a clinical diagnostics company, announced that it has entered into definitive agreements with Quidel Corporation, a manufacturer of diagnostic healthcare products in U.S. to obtain all rights related to the manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers. Under the terms of the agreements, Quidel will continue to manufacture and supply certain components to Beckman Coulter related to the assay, and Beckman Coulter will exclusively manufacture and sell to customers the BNP assay currently sold as TRIAGE BNP by Quidel, under the brand name Access BNP.
In May 2020, F. Hoffmann-La Roche Ltd., a multinational healthcare company based in Switzerland, announced its acquisition of Stratos Genomics is a novel nanopore DNA sequencing technology utilizing Sequencing by Expansion (SBX) to reimagine DNA. The development of diagnostic sequencing based on DNA was made possible by this acquisition. This enhanced the business's healthcare diagnosing division and raised its revenue-generating capacity.
In September 2021, Labcorp, a life sciences company based in the U.S., announced that it has entered into a definitive agreement to acquire select operating assets and intellectual property (IP) from Myriad Genetics is autoimmune business unit, including the chordoma cancer assay.
On January 9, 2023, Takeda Pharmaceutical Company Limited, a Japanese multinational pharmaceutical company in japan, and Arrowhead Pharmaceuticals Inc. announced topline results from the Phase 2 SEQUOIA clinical study of investigational fazirsiran for the treatment of liver disease associated with alpha-1 antitrypsin deficiency (AATD-LD). The companies also provided an outline of a Phase 3 study that was co-developed by Takeda and Arrowhead and will be conducted by Takeda.
In June 2021, the University of Montreal Hospital Research Centre (CRCHUM) developed a two-step combination therapy for the treatment of liver cancer. According to the research, the combination of chemotherapy and inhibitors can assist in reducing the proliferation of cancer cells and destroy them.
On June 20, 2023, the U.S. Food and Drug Administration approved talazoparib product of Talzenna, Pfizer, Inc., a multinational pharmaceutical and biotechnology corporation headquartered at The Spiral in Manhattan, New York City. with enzalutamide for homologous recombination repair (HRR) gene-mutated metastatic castration-resistant prostate cancer (mCRPC).
Browse 30 Market Data Tables and 24 Figures spread through 180 Pages and in-depth TOC on “Global Chronic Liver Diseases Therapeutics Market”- Forecast to 2030, Global Chronic Liver Diseases Therapeutics Market, by Treatment Type (Antiviral Drugs, Immunosuppressant’s, Vaccines, Immunoglobulin’s, Corticosteroids, Targeted Therapy, and Chemotherapy), by Disease Type (Hepatitis, Autoimmune Diseases, Non-alcoholic Fatty Liver Disease (NAFLD), Cancer, Genetic Disorders, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Chronic Liver Diseases Therapeutics Market :
- The global chronic liver diseases therapeutics market is expected to exhibit a CAGR of 10.9% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global chronic liver diseases therapeutics market.
- Among disease segment, the hepatitis segment is expected to hold a dominant position in the global chronic liver diseases therapeutics market during the forecast period and this is attributed to the product approved by regulatory bodies in the field of chronic liver diseases therapeutics. On April 04, 2023, VBI Vaccines Inc., a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease, announced plans to focus the company’s efforts on the fight against hepatitis B (HBV), concentrating on broadening access to VBI’s U.S. FDA-approved 3-antigen HBV vaccine for adults, PreHevbrio [Hepatitis B Vaccine (Recombinant)], and advancing its HBV immunotherapeutic candidate, VBI-2601, which has the potential to be part of a functional cure regimen for chronic HBV patients.
- Among Region, North America is expected to be the dominant region in the global chronic liver diseases therapeutics market, owing to the key players are focusing on inorganic strategies such as partnerships. For instance, in Febraury 2020, The Liver Foundation (LF), a centralized repository of tumor tissue and blood contributed by chordoma patients to help advance research in U.S. and The Mark Foundation for Cancer Research (MFCR,) funds groundbreaking science across all cancer types through grants to individual investigators and multi-disciplinary teams, as well as venture investment in early-stage companies, announced a two-year, US$1.4M partnership with a team of researchers at three institutions to develop new treatments for liver, a rare and difficult-to-treat bone cancer. The researchers, including a project lead from the Universal Naming Convention (UNC) Eshelman School of Pharmacy, will focus on creating the first drugs to inhibit a protein known as brachyury.
- Major players operating in the global Chronic Liver Diseases Therapeutics market include Astellas Pharma Inc., Bristol-Myers Squibb, Gilead Sciences, GlaxoSmithKline Plc, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi S.A, Pfizer Inc., Takeda Pharmaceutical, Valeant Pharmaceuticals, Watson Pharmaceuticals, Inc., Theratechnologies Inc., Alnylam Pharmaceuticals, Inc., Protagonist Therapeutics, Inc., Dicerna Pharmaceuticals, Inc., Endo International, Provectus Biopharmaceuticals Inc., and MAX BioPharma, Inc.
