Chronic Liver Diseases Therapeutics Market
Global Chronic Liver Diseases Therapeutics Market, by Treatment Type (Antiviral Drugs, Immunosuppressant’s, Vaccines, Immunoglobulin’s, Corticosteroids, Targeted Therapy, and Chemotherapy), by Disease Type (Hepatitis, Autoimmune Diseases, Non-alcoholic Fatty Liver Disease (NAFLD), Cancer, Genetic Disorders, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 15,184 million in 2022 and is expected to exhibit a CAGR of 9.5% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.
For instance, in June 2021, BeiGene, Ltd., a global biotechnology company focused on developing and commercializing innovative medicines worldwide, received an approval from the China National Medical Products Administration (NMPA) for anti-PD-1 antibody tislelizumab for the first line treatment of patient with advanced non-squamous non-small cell lung cancer (NSCLC) and conditional approval for the treatment of patients with Hepatocellular Carcinoma (HCC), who have been previously treated with at least one systemic therapy.
Moreover, in February 2021, Dynavax Technologies Corporation, a biopharmaceutical company focused on developing and commercializing novel vaccines, received European Commission (EC) marketing authorization for HEPLISAV B (Hepatitis B Vaccine) for the active immunization against hepatitis B virus infection (HBV).
Global Chronic Liver Diseases Therapeutics Market – Impact of Coronavirus (Covid-19) Pandemic
The spread of coronavirus has negatively impacted the global chronic liver diseases therapeutics market. The markets like the U.S, India, Brazil, Russia, and other economies are suffering due to covid-19 outbreak is expected to impact on lowering the pharmaceutical growth, globally.
Due to Covid-19, the rate of hospital visits of chronic liver diseases patients has gone down subsequently the diagnosis and treatment rate has gone down.
Browse 36 Market Data Tables and 39 Figures spread through 154 Pages and in-depth TOC on “Chronic Liver Diseases Therapeutics Market”- Global Forecast to 2030, by Treatment Type (Antiviral Drugs, Immunosuppressant’s, Vaccines, Immunoglobulin’s, Corticosteroids, Targeted Therapy, and Chemotherapy), by Disease Type (Hepatitis, Autoimmune Diseases, Non-alcoholic Fatty Liver Disease (NAFLD), Cancer, Genetic Disorders, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players operating in the market are focusing on the adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, in order to strengthen their position in the global market. For instance, in January 2022, Alnylam Pharmaceuticals, a leading RNAi therapeutics company collaborated with Novartis pharmaceuticals, a Swiss multinational pharmaceutical corporation based in basal Switzerland to explore targeted therapy with an aim to restore liver function.
Key Takeaways of the Global Chronic Liver Diseases Therapeutics Market:
The global chronic liver diseases therapeutics market is expected to exhibit a CAGR of 9.5% over the forecast period, owing to rising launches and regulatory approvals of products. For instance, in June 2021, Innovant, is a committed to developing, manufacturing and commercializing high quality innovative medicines for the treatment of major diseases such as cancer has announced the china National Medical Product Administration (NMPA) approval of TYVYT (sintilimab injection) in combination with BYVASDA (bevacizumab biosimilar injection) as a first line therapy for the people with hepatocellular carcinoma.
Among treatment type, antiviral drug segment is expected to account for largest market share during the forecast period.
Key players operating in the global chronic liver diseases therapeutics market include Astellas Pharma Inc., Bristol-Myers Squibb, Gilead Sciences, GlaxoSmithKline Plc, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi S.A, Pfizer Inc., Takeda Pharmaceutical, Valeant Pharmaceuticals, Watson Pharmaceuticals, Inc., Theratechnologies Inc., Alnylam Pharmaceuticals, Inc., Protagonist Therapeutics, Inc., Dicerna Pharmaceuticals, Inc., Endo International, Provectus Biopharmaceuticals Inc., and MAX BioPharma, Inc.
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