Newark, Sept. 02, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global liver fibrosis market is expected to grow from USD 17.25 billion in 2021 to USD 43.98 billion by 2030, at a CAGR of 10.96% during the forecast period 2022-2030.
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The increase in the number of R&D activities and the rising geriatric population suffering from liver fibrosis disease are anticipated to expand the liver fibrosis industry demand during the projection period. Moreover, the increasing initiatives by private & public organizations to spread awareness, the high adoption of digital technologies by the healthcare industry, and the growing number of initiatives taken by crucial participants are also helping to propel market growth. However, the high cost associated with the treatment, less availability, and increased investment cost of drugs, particularly across developing nations, are restraining market growth. Furthermore, the surging drug approvals & launches and the increasing government awareness programs are opportunities for market growth.
Competitive Strategy
To enhance their market position in the global liver fibrosis market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
The growth of the liver fibrosis market is driven by the increasing prevalence of liver disorders and the adaptation of unhealthy lifestyles and long-term medications. Moreover, the rising geriatric population is the market growth trend. Further, the increasing prevalence of fatty liver disease due to high obesity, cholesterol, hypertension (high blood pressure), and diabetes propel market growth. In addition, the increasing R&D activities for developing non-contrast magnetic resonance imaging systems for detecting, discriminating, and measuring liver fibrosis are also helping to drive market growth during the forecast period. Also, the increased awareness among people, growing demand for generic medications, and cost-effective biopsy devices propel market growth.
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Key Findings
• In 2021, the hepatotropic drug segment dominated the market with the largest market share of 29.16% and market revenue of 5.03 billion.
The treatment segment is divided into hepatotropic drug, ACE inhibitors, peroxisome proliferator-activated receptors (PPAR)-alpha agonist, and others. In 2021, the hepatotropic drug segment dominated the market with the largest market share of 29.16% and market revenue of 5.03 billion. This growth is attributed to the growing incidence of liver fibrosis.
• In 2021, the hepatitis C segment dominated the market with the largest market share of 41.12% and market revenue of 7.09 billion.
The condition segment is divided into hepatitis C, chronic liver diseases, and non-alcoholic steatohepatitis. In 2021, the hepatitis C segment dominated the market with the largest market share of 41.12% and market revenue of 7.09 billion. This growth is attributed to the increasing number of research activities to improve the effectiveness of the currently available drugs.
• In 2021, the liver biopsy segment dominated the market with the largest market share of 31.02% and market revenue of 5.35 billion.
The diagnosis segment is divided into nonsurgical tests, liver biopsy, transient elastography, and others. In 2021, the liver biopsy segment dominated the market with the largest market share of 31.02% and market revenue of 5.35 billion. This growth is attributed to the growing prevalence of liver diseases.
• In 2021, the hospital pharmacy segment dominated the market with the largest market share of 32.05% and market revenue of 5.52 billion.
The distribution channel segment is divided into retail pharmacy, hospital pharmacy, online pharmacy, and others. In 2021, the hospital pharmacy segment dominated the market with the largest market share of 32.05% and market revenue of 5.52 billion. This growth is attributed to the high prevalence of chronic diseases.
• In 2021, the hospitals' segment dominated the market with the largest market share of 28.34% and market revenue of 4.88 billion.
The end-user segment is divided into specialty clinics, hospitals, home care, and others. In 2021, the hospitals' segment dominated the market with the largest market share of 28.34% and market revenue of 4.88 billion. This growth is attributed to the rise in cancer incidence and a globally aging population.
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Regional Segment Analysis of the Liver Fibrosis Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region occurred as the largest market for the global liver fibrosis industry, with a market share of 43.56% and a market value of around 7.51 billion in 2021. North America dominates the liver fibrosis market due to the rising healthcare expenditure and the presence of major vital participants. Moreover, increasing manufacturers' investments, a large patient pool, and a large medicine manufacturing base are also helping to drive the region's market growth. Further, the growing medical tourism industry and excessive alcohol consumption are propelling the market growth in this region during the forecast period. The Asia Pacific region is expected to show the fastest CAGR of 12.04% over the projection period. This growth is attributed to the changing lifestyle patterns and the increasing consumption of unhealthy fast food diets. In addition, the rising geriatric population and awareness about regular check-ups are also propelled the market growth in this region.
Key players operating in the global liver fibrosis market are:
• Mylan N.V.
• F. Hoffmann-La Roche Ltd.
• Johnson & Johnson Private Limited
• Sanofi
• Teva Pharmaceutical Industries Ltd.
• Pfizer Inc.
• Novartis AG
• GlaxoSmithKline plc
• Merck & Co., Inc.
• AstraZeneca
• Vertex Pharmaceuticals Incorporated
• Sun Pharmaceutical Industries Ltd.
• Dicerna Pharmaceuticals, Inc.
• Bristol-Myers Squibb Company
• Gilead Sciences, Inc.
• Dynavax Technologies
• Pharmaxis Ltd
• FibroGen, Inc.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global liver fibrosis market based on below mentioned segments:
Global Liver Fibrosis Market by Treatment:
• Hepatotropic Drug
• ACE Inhibitors
• Peroxisome Proliferator-activated Receptors (PPAR)-alpha agonist
• Others
Global Liver Fibrosis Market by Condition:
• Hepatitis C
• Chronic Liver Diseases
• Nonalcoholic Steatohepatitis
Global Liver Fibrosis Market by Diagnosis:
• Nonsurgical Tests
• Liver Biopsy
• Transient Elastography
• Others
Global Liver Fibrosis Market by Distribution Channel:
• Retail Pharmacy
• Hospital Pharmacy
• Online Pharmacy
• Others
Global Liver Fibrosis Market by End-User:
• Specialty Clinics
• Hospitals
• Homecare
• Others
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About the report:
The global liver fibrosis market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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