Current Technological Advancements on Global Liver Disease Treatment Market SWOT Analysis & Technological Innovation by Leading Industry Experts - Gilead Science Inc., Bayer AG, AstraZeneca, GlaxoSmithKline plc
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Liver disease is characterized by improper functioning of the liver, causing disorders like hepatitis, fatty liver, and cirrhosis. Some of the major drug categories used in the treatment of various types of liver diseases include antirejection drugs, vaccines, immunosuppressant, chemotherapy drugs, and antiviral drugs.
The growth of the global liver disease treatment market is driven by an increasing prevalence of liver diseases, due to increasing consumption of alcohol and unhealthy diets, along with an increase in geriatric population and the rise of government and non-government awareness programs. Additionally, the availability of generic and bio-similar drugs provide lucrative opportunities to emerging market players. However, strict government regulations, and side-effects & high cost associated with drugs hamper market growth.
The report segments the global liver disease market based on treatment type and geography. Based on the treatment type, the market is divided into anti-rejection drugs/immunosuppressants, chemotherapy drugs, targeted therapy, vaccines, anti-viral drugs, immunoglobulins, and corticosteroids. The antiviral drugs segment accumulated the highest revenue in 2014 and is expected to continue its dominance through 2022. Meanwhile, the corticosteroids drug segment is projected to grow at the fastest rate, registering a CAGR of 16.5% during the forecast period.
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North America and Europe collectively garnered in more than half of the global revenue in 2015. North America is expected to continue its market dominance throughout the forecast period, growing at a CAGR of 11.9%, due to the increasing prevalence of liver diseases, growing geriatric population, and increased awareness about the various liver diseases and their treatment. However, Asia-Pacific is projected to grow at the highest rate from 2016 to 2022, registering a CAGR of 12.5%, owing to the rise in liver diseases among the regional populace and an increase in R&D investments in the region.
The report also profiles key players involved in the global liver disease market, such as Gilead Science Inc., Bayer AG, AstraZeneca PLC, GlaxoSmithKline plc, Merck & Co. Inc., Sanofi AG, Pfizer Inc., Bristol-Myers Squibb Company, Novartis AG, and Johnson & Johnson Private Limited. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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