Liver Disease Treatment market Materialmarket Size Set to Register Strong Growth of CAGR to 2020
The liver is one of the most important organs of the human body and performs major functions, such as removal of harmful substances from blood, maintains adequate level of chemicals in the body and stores nutrients for all cellular and biological activities. Improper functioning of liver cause many severe diseases, such as hepatitis A, B, C, Primary Biliary Cirrhosis and tumors. Some inherited diseases, such as Wilson’s Disease, Alagille Syndrome and Hemochromatosis are also occurred by improper functioning of liver. Some of the major reasons for improper functioning of liver are genetic disorder, excessive alcohol consumption and obesity. Some of these may also lead to permanent damage of liver.
The global market of liver disease treatment is categorized based on various drugs type and by disease. The drug type segment is further sub-segmented in vaccines, antiviral, corticosteroids, anabolic steroids, antimetabolites, anti-rejection drugs, immunosuppressive agents, immune globulins and chemotherapy. The antiviral drug represents the largest sub-segment in global liver disease treatment market. Moreover, the disease segment includes hepatitis, autoimmune diseases, liver tumor, alcohol induced liver disease, chronic liver disease and non-alcoholic fatty liver disease. The treatment of hepatitis is the largest and fastest growing sub-segment in global liver disease treatment market.
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Under geographic analysis, North America is the largest market for liver disease treatment drugs followed by Europe and Asia. In North America, the U.S. represents the largest market for liver disease treatment drugs. In Europe, Germany, France and the U.K. covers the major share of liver disease treatment market. Moreover, Asia represents the fastest growing market for liver disease treatment drugs, due to increasing geriatric populations. The liver has a significant ability to regenerate and maintain function in elderly age. However, changes in cellular and physiological function during aging inhibit the normal function of the liver and cause diseases. Furthermore, Asia is one of the strong oncology markets accounting for nearly half of all new cancer cases in the world. These increasing cases of cancer also comprise liver cancers. This increasing number of liver cancer cases in the Asian countries requires huge amount of liver disease treatment drugs for prevention and treatment of liver cancer and tumors.
Some of the key companies operating in the liver disease treatment market are Abbott Laboratories, Actavis Inc., Aton Pharma, Bayer Schering AG, Biotest, Bristol-Myers Squibb, Eli Lilly, Forest laboratories, Inc., Glaxosmithkline PlC, Merck & Co., Mylan, Novartis, Pfizer, Roche, Sanofi-Aventis, Takeda Pharmaceuticals and Zydus Pharmaceuticals Inc.
Globally, liver disease treatment market is growing with moderate growth rate due to aging population, excessive alcohol consumptions and increasing prevalence of liver diseases. Moreover, high unmet needs for the treatment of liver cancer also supports in growth of liver disease treatment market. However, side-effects and risk associated with medications impede growth of the liver disease treatment market. Moreover, stringent FDA approvals procedure and other government regulations also impede growth of the liver disease treatment market. Furthermore, availability of alternate treatment procedure is one of the key challenge for global liver disease treatment market.