Global Liver Disease Treatment Market 2017-2021
About Liver Disease Treatment
Liver is the largest organ of the body and can completely recover from damage. However, continuous strain on the liver, when treatment is delayed, for a prolonged period of time can lead to severe damage to the liver and can even be fatal.
Viral hepatitis is one of the major liver diseases affecting a large number of people across the globe. This is caused by viral infections and spread through contaminated food and water. Poor sanitation facilities in developing countries such as India and China has led to a higher prevalence of the disease in these countries. There has been a rise in healthcare investment in these countries.
Technavio’s analysts forecast the global liver disease treatment market to grow at a CAGR of 11.01% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global liver disease treatment market for 2017-2021. To calculate the market size, the report considers the sales of vaccines, branded, generic, and off-label drugs in liver disease treatment market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Liver Disease Treatment Market 2017-2021
Technavio recognizes the following companies as the key players in the global liver disease treatment market: F. Hoffmann-la Roche, Gilead, GlaxoSmithKline, and Merck.
Other Prominent Vendors in the market are: ristol-Myers Squibb, Johnson and Johnson, Novartis, Salix Pharmaceuticals, and Vertex Pharmaceuticals.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rise in awareness. Early detection is crucial in reducing the progression of liver diseases. For instance, diagnosis of hepatitis B and C at an initial stage can reduce or prevent the extent of liver damage. Government and non-governmental organizations organize summits, awareness seminars, campaigns, and fundraising events to raise awareness about both the disease and the therapeutic measures available. For instance, the US celebrates May 19 as Hepatitis Testing Day and has deemed the month of May as the Hepatitis Awareness Month every year majorly aiming to spread awareness about hepatitis infections and motivate people, particularly those at high risk, to undertake pre-diagnosis. Similarly, the Canadian Liver Foundation and the American Liver Foundation celebrate the month of October as the Liver Awareness Month in Canada and the US, respectively. Such awareness programs lead to more people opting for treatment, thereby increasing drug consumption and market revenue.”
According to the report, one of the major drivers for this market is Increase in alcohol-related liver disease. Alcohol consumption has become quite common. According to NIH, in 2015, 86.4% of people of age 18 years and above admitted that they drank alcohol at some point of their life. Drinking alcohol may not always lead to health issues. The problem starts with alcohol abuse or heavy intake of alcohol for a longer period. Liver cells are directly associated with alcohol consumption. One of the prime functions of the liver is to remove toxins and impurities such as alcohol from the blood.
Further, the report states that one of the major factors hindering the growth of this market is Side-effects of liver disease treatment drugs. Serious side-effects of liver disease treatment drugs reduce patient compliance and might also result in patient dropouts, which, in turn, decreases the demand for the drugs, thus reducing its sales. Currently, liver disease treatment drugs such as hepatitis drugs are approved for administration in combination with other drugs such as PEG-IFN and ribavirin. PEG-IFN and ribavirin are associated with their own side-effects and thereby add to the adverse effects when used as a combination therapy. Similarly, the combination therapy of Sovaldi and ribavirin is associated with headache and fatigue. The combination therapy of Sovaldi, ribavirin, and PEG-IFN is associated with side-effects such as insomnia, fatigue, anemia, and headache. IFN-based drugs are administered via injections, hence, inclusion of IFNs also increases the propensity of injection site reactions. Ribavirin is also associated with fetal death and birth defects.
F. Hoffmann-la Roche, Gilead, GlaxoSmithKline, Merck, ristol-Myers Squibb, Johnson and Johnson, Novartis, Salix Pharmaceuticals, and Vertex Pharmaceuticals.