Liver Diseases Therapeutics Market Size

Liver Disease Therapeutics Market Analysis

During the forecast period, the market for medicines to treat liver disease is expected to register a CAGR of about 8.5%.

Since all resources were used to treat COVID-19 patients, it had a big effect on how other diseases were treated. Also, because of the lockdown and the high risk of infection, fewer people went to hospitals and clinics for problems other than COVID-19. This was expected to have a big effect on the market that was being studied. Reports said that COVID-19 may have had a big effect on people with liver diseases, which was good for the market for medicines to treat liver diseases. For example, a May 2021 study by the American Association for the Study of Liver Diseases (AASLD) found a strong link between cirrhosis and immune system problems.This was linked to a poor COVID-19 prognosis as well as alcoholic liver damage and cirrhosis. Also, according to an article in Frontiers in Medicine from September 2021, liver damage in COVID-19 patients can be caused by a number of things, such as systemic inflammation caused by the virus, hypoxia, hepatic congestion, and drug-induced liver disease. The same source also said that COVID-19 was linked to hepatic decompensation and liver-related death in people with cirrhosis.Hence, COVID-19 was predicted to have an effect on the liver disease therapeutics market.

The main things that are likely to drive growth in the liver disease therapeutics market are the high number of people with liver diseases, the rise in alcohol consumption, and bad eating habits. For example, a research study published in the Clinical Liver Disease journal in June 2021 says that chronic liver disease (CLD), which affects about 1.5 billion people around the world, is one of the leading causes of death and illness around the world.Further, as per the American Association for the Study of Liver Diseases's publication in June 2021, the most common causes of prevalent disease are non-alcoholic fatty liver disease (NAFLD) (59%), followed by hepatitis B (29%), hepatitis C (9%), and alcoholic liver disease (ALD) (2%). Additionally, according to the study published in Clinical and Molecular Hepatology in October 2022, the prevalence of nonalcoholic fatty liver disease (NAFLD) is forecasted to be 55.7% by 2040, globally. Therefore, increasing liver diseases have helped drive the overall market.

Also, people who drink more alcohol and are overweight are more likely to get liver disease, which is expected to increase the demand for medicines to treat it. A study that was published in June 2022 in the journal Hepatology found that, for example, a temporary increase in alcohol consumption can greatly increase the risk of long-term illness and death from ALD.During the COVID-19 pandemic, it was also said that up to 25% more alcohol was drunk in the United States. Also, the same source says that by 2040, this increase in drinking could lead to 8,000 more deaths from alcohol-related liver disease, 18,700 cases of liver failure, and 1,000 cases of liver cancer, which is likely to increase the need for effective and advanced treatments.

Also, because liver diseases are becoming more common, the government and other non-profits play a very important role in raising awareness about them all over the world. For example, in January 2023, the International Liver Transplantation Society (ILTS), the International Living Donor Liver Transplantation Study Group (iLDLT), and the Liver Transplant Society of India (LTSI) held Asia's first consensus conference on how to care for patients who get small liver grafts in India. Hence, all these organizations are found promoting awareness of liver-related diseases and support for research and development for the prevention, treatment, and cure of liver diseases. So, the main things that are driving the growth of the market during the study period are the rise in liver diseases around the world, the rise in the number of people who drink too much and eat poorly, and the rise in government efforts to raise awareness about liver diseases.

However, the stringent regulations and the complications associated with the drugs are expected to hinder market growth during the study period.