The liver cirrhosis market is crucial in managing the symptoms and progression of advanced liver disease. Liver cirrhosis develops due to chronic liver injury and results in the formation of fibrous scar tissue in the liver. If left untreated, it can significantly impact liver functioning over years. While lifestyle changes and medications help improve liver health, targeted therapies are gaining prominence in recent years.
The Liver Cirrhosis Market is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024-2031.
Liver cirrhosis impedes normal liver functioning and causes severe complications. It leads to portal hypertension, liver failure, and liver cancer if not managed. Increased alcohol intake, hepatitis infection, and non-alcoholic fatty liver disease are prime risk factors. Symptomatic treatments aim to relieve symptoms such as jaundice, ascites, bruising, and encephalopathy. Targeted therapies specially inhibit fibrosis and potentially reverse cirrhosis. They demonstrate encouraging results in halting or reversing disease progression.
Key Takeaways
Key players operating in the liver cirrhosis market are Madrigal Pharmaceuticals, Inc., Galectin Therapeutics Inc., Grifols Therapeutics LLC, CymaBay Therapeutics, Akero Therapeutics, Inc. The market witnesses significant opportunities due to the rising burden of non-alcoholic steatohepatitis (NASH) worldwide. NASH is a major cause of liver cirrhosis in developed nations. Technological advancements include therapies targeting fibroblast activation protein (FAP) and inhibitors of lysyl oxidase like enzyme 2 (LOXL2) that play a crucial role in fibrogenesis and fibrosis regression.
Market Drivers
The increasing prevalence of alcoholic and non-alcoholic liver diseases is a key factor driving the liver cirrhosis market growth. As per estimates, over 2 million Americans currently suffer from NASH-caused cirrhosis. Moreover, rising healthcare expenditures, improving reimbursement scenario, and aggressive pipeline of novel targeted therapies also boost the market revenues.
Current Challenges In Liver Cirrhosis Market
Liver cirrhosis market is facing various challenges such as limited awareness about the disease, late diagnosis, lack of approved drugs for the advanced stage of the disease and high cost associated with the existing treatment options. Liver cirrhosis is often diagnosed at a late stage when complications appear as symptoms in early stages are not very prominent. This late diagnosis poses challenges in effective treatment of the disease. Also, majority of approved drug therapies are only effective in the early or intermediate stages of the disease and palliative care remains the only option for the advanced stage where liver transplant is the only treatment available. This poses a significant challenge for drug developers to focus on treatment options for advanced stage cirrhosis patients. High cost of existing treatment procedures like liver transplant also limits wider accessibility of treatment.
SWOT Analysis
Strength: Growing research and development investment by pharma companies to develop novel drugs and targeted therapies.
Weakness: Limited early diagnosis and lack of approved drugs for late stage disease.
Opportunity: Emergence of combination drug therapies and regenerative medicine techniques opens new opportunities.
Threats: High attrition rates in drug development and stringent regulatory approval process pose challenges.
Geographically, North America is currently the largest market for liver cirrhosis accounting for around 35% of the global value, led by the U.S. due to growing disease prevalence, rising healthcare spending and availability of advanced treatment facilities in the region. Asia Pacific is expected to witness fastest growth over the coming years attributed to changing lifestyles leading to increasing alcoholic liver disease and viral hepatitis prevalence in countries like India and China.
Currently, the cirrhosis market in the U.S. accounts for over 40% share of the total North America region. This can be attributed to growing healthcare spending, presence of key market players, advanced hospital infrastructure and rising burden of non-alcoholic fatty liver disease in the country. It is estimated that U.S. will continue to dominate the North American as well as Liver Cirrhosis Market during the forecast period driven by ongoing research efforts for development of novel and targeted therapies.
What Are The Key Data Covered In This Liver Cirrhosis Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Liver Cirrhosis Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Liver Cirrhosis Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Liver Cirrhosis Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Liver Cirrhosis Market vendors
FAQ’s
Q.1 What are the main factors influencing the Liver Cirrhosis Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Liver Cirrhosis Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Liver Cirrhosis Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn