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Liver Diseases Therapeutics Market Key Trends, Latest Insights, Future Trends And Forecast To 2033
Liver Diseases Therapeutics Market
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According to The Business Research Company's, The liver diseases therapeutics market size has grown strongly in recent years. It will grow from $13.02 billion in 2023 to $14.07 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to high prevalence of liver diseases, alcohol consumption patterns, advancements in diagnostics, obesity and metabolic syndrome, awareness and screening programs, government initiatives for hepatitis control.
The liver diseases therapeutics market size is expected to see strong growth in the next few years. It will grow to $18.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to precision medicine approaches, innovations in rna therapeutics, focus on fibrosis treatments, patient advocacy and support groups, development of vaccines for hepatitis, regulatory support for orphan drugs. Major trends in the forecast period include advancements in treatment for hepatitis c, emergence of novel therapies for liver fibrosis, exploration of immunotherapies, telemedicine and remote monitoring, focus on nutritional interventions.
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Market Drivers and Trends:
The growing geriatric population is expected to propel the growth of the low-density polyethylene market going forward. The geriatric population refers to the segment of the population composed of older individuals or senior citizens who have reached or surpassed a certain age, typically associated with retirement and the later stages of life. Liver disease therapeutics are used in the geriatric population to address liver-related health issues that improve the quality of life and overall health of elderly individuals with liver-related conditions, and to address their liver health effectively. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, globally, 1 in 6 people will be 60 or older by 2030, and there will be a double amount of individuals in this age group (2.1 billion) by 2050. Additionally, for instance, in June 2021, according to the UK Parliament's House of Commons Library, a UK-based information resource, by 2043, there will be a rise in the senior population in the UK, which will make up 24% of the total population (17.4 million people). Therefore, the growing pharmaceutical industry is driving the growth of the low-density polyethylene market.
Strategic partnerships are a key trend gaining popularity in the liver disease therapeutics market. Major companies operating in the liver diseases therapeutics market are undergoing collaborations to strengthen their position in the liver diseases therapeutics market. For instance, in January 2022, Aligos Therapeutics Inc., a US-based clinical-stage biopharmaceutical company, collaborated with Merck & Co, a US-based company operating in liver disease therapeutics. This collaboration is to discover and develop oligonucleotide therapies for non-alcoholic steatohepatitis. Further, in January 2021, Novartis, a Switzerland-based company operating in liver disease therapeutics collaborated with Alnylam, a US-based biopharmaceutical company. This collaboration aims to develop liver-targeted therapy as a potential alternative to transplantation for patients experiencing liver failure.
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Major Key Players of the Market:
Astellas Pharma Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG, Merck & Co. Inc., Novartis AG, GlaxoSmithKline plc, Abbott Laboratories Inc., Pfizer Inc., Sanofi SA, Johnson & Johnson Services Inc., Bayer AG, AbbVie Inc., Takeda Pharmaceutical Company Limited, Valeant Pharmaceuticals, Watson Pharmaceuticals Inc., AstraZeneca plc, Gilead Sciences Inc., Endo International plc, Alnylam Pharmaceuticals Inc., Provectus Biopharmaceuticals Inc., Intercept Pharmaceuticals Inc., Conatus Pharmaceuticals Inc., CymaBay Therapeutics Inc., Viking Therapeutics Inc., Madrigal Pharmaceuticals Inc., NGM Biopharmaceuticals Inc., Arrowhead Pharmaceuticals Inc., Dicerna Pharmaceuticals Inc., Ionis Pharmaceuticals Inc., Enanta Pharmaceuticals Inc
Liver Diseases Therapeutics Market 2024 Key Insights:
• The liver diseases therapeutics market size is expected to see strong growth in the next few years. It will grow to $18.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Elevating Prevalence Of Liver Diseases Fuels Growth In Liver Disease Therapeutics Market
• Strategic Partnerships Transforming The Landscape Of Liver Disease Therapeutics
• North America was the largest region in the liver diseases therapeutics market in 2023
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