Global Hepatic Encephalopathy Market, by Drug Class (Antibiotics, Laxatives, L-ornithine L-aspartate, and Others), by Route of Administration (Oral, Intravenous, and Rectal), 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$ 355.4 million in 2020 and is estimated to exhibit a CAGR of 5.3% during the forecast period (2020-2027).
The increasing prevalence of various risk factors such as hepatitis C, hepatic cirrhosis among the population is expected to drive the global hepatic encephalopathy market growth over the forecast period. For instance, according to the CMAJ Open journal: 2018, prevalence of liver cirrhosis is expected to increase due to the rising cases of hepatitis C and the non-alcoholic fatty liver disease among the Canadian population. Around 30% of people in Canada suffered from liver diseases.
Market players are indulged in inorganic activities such as acquisitions, which is expected to expand the product portfolio as well as strengthen the position of the companies in the global market. For instance, in 2018, Ferring Pharmaceuticals Inc. acquired Rebiotix Inc, a clinical stage biotechnology company. This acquisition bought together two innovative healthcare companies that focus on exploring and understanding the human microbiome for developing new solutions for patients.
Global Hepatic Encephalopathy Market– Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic is expected to restrain growth of the global hepatic encephalopathy market over the forecast period. According to National center for Biotechnology Information (NCBI), 29th September 2020, the hepatic encephalopathy treatment is required for majority of patients suffering with severe liver damage and the treatment might be delayed due to the pandemic. Although, during the COVID-19 pandemic, the treatment of severe liver damage patients is postponed or even cancelled due to the unavailability of antibiotics, laxatives, and other medications and irregular supply and transportation of drugs.
Furthermore, according to the U.S Food and Drug Administration (FDA), 18th September 2020, the COVID-19 pandemic has disrupted the global drug supply due to government-mandated or recommended temporary shutdowns, safety initiatives to ensure employee health and well-being, insufficient labor force, and restrictions on import and export activities, and travel. Antibiotic manufacturing has been particularly affected.
Browse 38 Market Data Tables and 27 Figures spread through 149 Pages and in-depth TOC on, Global Hepatic Encephalopathy Market, by Drug Class (Antibiotics, Laxatives, L-ornithine L-aspartate, and Others), by Route of Administration (Oral, Intravenous, and Rectal), 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 are majorly focused on conducting clinical trials for development of new drugs for hepatic encephalopathy, which is expected to drive growth of the global hepatic encephalopathy market over the forecast period. For instance, in 2019, Mallinckrodt Pharmaceuticals conducted clinical trials for MNK-6105 (ornithine phenylacetate) intravenous and MNK-6106 (ornithine phenylacetate) oral medications for preventing the recurrence of chronic hepatic encephalopathy. The trial is currently in phase III of the trials.
Key Takeaways of the Hepatic Encephalopathy Market: