Liver Diseases Therapeutics Market, Therapy Type (Anti-Rejection Drugs/Immunosuppressant’s, Chemotherapy Drugs, Targeted therapy, Vaccines, Anti-Viral Drugs, Immunoglobulin’s, Corticosteroids), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The initiatives by government organizations to conduct awareness programs regarding liver health can drive the growth of the global liver diseases therapeutics market over the forecast period. For instance, on May 24, 2022, American Liver Foundation announced a nationwide public awareness program campaign ‘Think Liver Think Life’ to test at-risk children and adults in all 50 states over the next five years. The campaign includes liver panels, viral hepatitis antibody screening, and assessments to help identify nonalcoholic steatohepatitis and liver cancer. It also includes a public awareness campaign, patient and provider education, a resource and information center
Global 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 drugs from one place to another.
COVID-19 had a negative impact on the global liver diseases therapeutics market. This is because of the reduced demand for liver disease therapeutics during the COVID period due to reduced patient visits during the lockdown period. For instance, according to an article published by Lancet Gastroenterology and Hepatology on June 29, 2020, a study was performed between February 19, 2020, to April 30, 2020, in 124 hospital administrations for liver-related disorders at hepatology and transplant centers, in Iran. The results showed a significant decrease in the number of hospital admissions for liver-related disorders during the COVID-19 pandemic compared with the control period in 2019 at a large hepatobiliary referral center. This decrease is probably due to the implementation of physical distancing regulations, the psychosocial effects of the COVID-19 outbreak, and recommendations to postpone clinical visits for patients with chronic liver diseases.
Global Liver Diseases Therapeutics Market: Key Developments
Strategies like mergers and acquisitions can increase the reach of the products and customer base of acquiring company, and the product can reach more regions. This is expected to boost market growth during the forecast period.
For instance, on May 15, 2023, Aligos Therapeutics, U.S. based biotherapeutic company, and Xiamen Amoytop Biotech Co. Ltd., a China-based biotechnology company, entered into a research collaboration and development deal to use the oligonucleotide platform of aligos for liver disease treatment. Both companies will work on the research and development of oligonucleotide compounds to treat liver diseases. Amoytop will gain the exclusive right to develop and commercialize the resulting products in the Greater China territory. Aligos Therapeutics will retain rights for the rest of the world. Aligos will receive an upfront payment and research collaboration funding, along with development and sales milestone payments of US$ 109 million for licensed products and tiered royalties on net sales.
Browse 27 Market Data Tables and 30 Figures spread through 150 Pages and in-depth TOC on “Global Liver Diseases Therapeutics Market ”- Forecast to 2030, Liver Diseases Therapeutics Market, Therapy Type (Anti-Rejection Drugs/Immunosuppressant’s, Chemotherapy Drugs, Targeted therapy, Vaccines, Anti-Viral Drugs, Immunoglobulin’s, Corticosteroids), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/liver-diseases-therapeutics-market-3809
Key Takeaways of the Global Liver Diseases Therapeutics Market:
- The global liver diseases therapeutics market is expected to exhibit a CAGR of 7 % during the forecast period. The seminars and workshops are arranged by the hospitals to increase awareness regarding liver diseases. This ultimately increases the demand for liver disease therapeutics and offers lucrative growth opportunities for players in the global liver disease therapeutics market. For instance, on April 19, 2022, on the occasion of world liver day, an awareness program was arranged by Kasturba Hospital in Karnataka, India to spread awareness about liver-related diseases. The theme for this year's World Liver Day is “Love Your Liver for a happy life”. The program included guidance on how to protect and maintain a healthy liver to lead a healthy lifestyle by district health officers and doctors.
- Among therapy type, the immunosuppressant segment is dominating in the global liver diseases therapeutics market over the forecast period. This is because of approval of newer drugs by the U.S. Food and drug administration (FDA). For instance, on July 16, 2021, U.S. Food and Drug Administration approved a new use for Prograf (tacrolimus) based on a non-interventional study providing real-world evidence of effectiveness. U.S. FDA approved Prograf for use in combination with other immunosuppressant drugs to prevent organ rejection in adult and pediatric patients receiving lung transplantation.
- Among region, North America is expected to be the dominant region in the global liver diseases therapeutics market, owing to the increasing research activities in this region. For instance, on October 24, 2022, U.S. FDA approved a new immunotherapy combination to treat advanced liver cancer. The combination therapy consists of drugs durvalumab (Imfinzi) plus the experimental drug tremelimumab for people with unresectable hepatocellular cancer, the most common type of liver cancer. The U.S.FDA approval was based on results of the clinical trial HIMALAYA involving 1,117 patients, led by gastrointestinal medical oncologist Ghassan Abou-Alfa at Memorial Sloan Kettering Cancer Center, U.S.
Major players operating in the global 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.
