Hepatic Disease Treatment Market Outlook
According to the report by Expert Market Research (EMR), the global hepatic disease treatment market price, is projected to grow at a CAGR of 6.2% between 2023 and 2028. Aided by the rising incidence of liver diseases and the increased funding for research and development, the market is expected to grow significantly by 2028.
Hepatic diseases, including Hepatitis B and C, cirrhosis, liver cancer, and non-alcoholic fatty liver disease, have severe implications for overall health. Treatment options vary and range from lifestyle modifications and medications to liver transplants in extreme cases, providing patients with potential paths to recovery and improved quality of life.
The surge in liver disease cases globally is a significant catalyst for the global hepatic disease treatment market growth. Lifestyle factors such as alcohol abuse, poor diet, and lack of physical activity, along with the prevalence of viral infections and genetic disorders, have contributed to the escalating numbers of liver disease cases. This development has resulted in a pressing need for effective hepatic disease treatments.
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Further amplifying market growth is the increased awareness about liver diseases and their implications. Numerous awareness campaigns by government bodies, healthcare organisations, and NGOs have made significant strides in educating the public about liver disease risk factors, prevention measures, and available treatments, thus promoting early diagnosis and treatment.
Additionally, the increased funding for research and development is accelerating the hepatic disease treatment market development. The pursuit of innovative therapeutic strategies, fuelled by the necessity to address unfulfilled medical needs, has led to substantial financial and scientific investments in this area. Advancements in targeted therapies, immunotherapies, and genetic engineering, along with the development of novel drugs, are notable results of these efforts, accelerating market growth.
The hepatic disease treatment market growth trajectory is further shaped by breakthroughs in diagnostic and therapeutic technologies. Innovations in imaging technologies, laboratory tests, and liver biopsy techniques have improved the early detection and diagnosis of liver diseases. In addition, advancements in treatment technologies, such as minimally invasive surgery and precision medicine, are enhancing treatment outcomes and patient survival rates.
The global hepatic disease treatment market expansion is also supported by the development of healthcare infrastructure and the rise in healthcare expenditure worldwide. Governments and healthcare organisations are working to improve access to and affordability of liver disease treatments, especially in low and middle-income countries. These initiatives are key in increasing the reach of hepatic disease treatments, subsequently driving market growth.
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Hepatic Disease Treatment Market Segmentation
The market can be divided based on treatment type, disease type, end use, and region.
Market Breakup by Treatment Type
- Antiviral Drugs
- Immunoglobulins
- Immunosuppressants
- Vaccines
- Corticosteroids
- Chemotherapy
- Targeted Therapy
- Others
Market Breakup by Disease Type
- Hepatitis
- Autoimmune Diseases
- Non-alcoholic Fatty Liver Disease (NAFLD)
- Cancer
- Genetic Disorders
- Others
Market Breakup by End Use
- Hospitals
- Ambulatory Surgical Centres
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hepatic disease treatment companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- AbbVie Inc.
- Abbott Laboratories
- Merck & Co., Inc.
- Hoffmann-La Roche Ltd
- Eli Lilly and Company
- Bristol-Myers Squibb Company
- Gilead Sciences, Inc.
- Others
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