Light Therapy Market: In-depth Insights, Revenue Details, Regional Analysis by 2030
According to MRFR analysis, the global liver cirrhosis treatment market is expected to register a CAGR of ~5.2% during the forecast period of 2019 to 2025 and was valued at USD 956.89 million in 2018.
Liver cirrhosis is basically the late stage scarring of the liver caused due to various types of liver diseases and disorders such as alcoholism and hepatitis, among others. No symptoms are observed until the liver is extensively damaged. Complications of liver cirrhosis include portal hypertension, leg & abdomen swelling, splenomegaly, bleeding, infections, malnutrition, hepatic encephalopathy, jaundice, bone diseases, risk of liver cancer, and multi-organ failure.
The growth of the global liver cirrhosis treatment market is driven by various factors such as an increasing global geriatric population, rising prevalence of liver cirrhosis, rapidly changing lifestyle, growing awareness programs regarding liver diseases, rising R&D investment for the development of innovative drugs for liver diseases, and increasing demand for better treatment methods for curing liver cirrhosis. However, stringent government regulations, high investment required for drug research & development, and side-effects of medications prescribed for liver cirrhosis are the factors that are expected to limit the growth of the global liver cirrhosis treatment market.
The global liver cirrhosis treatment market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.
Some of the key players in the global liver cirrhosis treatment market are Pfizer, Inc. (US), Merck & Co., Inc. (Germany), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Takeda Pharmaceutical Company Limited (Japan), Gilead Sciences, Inc. (US), AstraZeneca (UK), Bayer AG (Germany), Sanofi (France), Shionogi Inc. (Japan), and Promethera (Belgium).
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The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of liver cirrhosis and high geriatric population. The liver cirrhosis treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European liver cirrhosis treatment market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The liver cirrhosis treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool of liver cirrhosis and raising awareness about the disease, the market in Asia-Pacific is expected to be the fastest-growing. The liver cirrhosis treatment market in the Middle East & Africa has been divided into the Middle East and Africa.
The global liver cirrhosis treatment market has been segmented based on treatment, and end user.
The global liver cirrhosis treatment market has been segmented, on the basis of treatment, into antibiotics, immunosuppressants, and others. The antibiotics segment is expected to hold the majority share of the market as antibiotics are the most preferred type of prescribed drugs for liver cirrhosis patients due to high risk of infections. The immunosuppressants segment is expected to grow at the fastest CAGR, due to an increasing number of liver transplants. Till October 2017, 147,842 liver transplants have been performed in the Americas. Immunosuppressants are a type of drugs that are prescribed to patients who have undergone liver transplant so that the risk of organ rejection is decreased. Other treatment options include drugs to reduce ammonia levels, antihypertensive drugs, and medications to reduce blood pressure, among others.
The market on the basis of end user has been segmented into hospitals and clinics, research and academic institutes, and others. The hospitals and clinics segment is expected to hold the largest share of the market as they are primary centers of treatment for the patient. Research and academic institutes carry out research activities for the development of new treatment options for liver cirrhosis. Other end users include home care settings and specific centers for the treatment of elderly people.
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