Liver Cirrhosis Market Is Driven By Rising Prevalence Of Alcohol Consumption

By Author: colin
Total Articles: 197
Comment this article

Liver cirrhosis is a serious consequence of chronic liver disease characterized by the replacement of liver tissue by fibrosis, scar tissue and regenerative nodules. It is caused by long term, continuous damage to the liver, often due to excessive alcohol consumption. Some of the common symptoms of liver cirrhosis include abdominal pain, jaundice, fatigue, loss of appetite and weight loss. The global liver cirrhosis management market offers treatment options such as antiviral drugs, alcohol deterrent medications, nutrition supplements and liver transplants for managing the condition and preventing further progression. Advances in liver transplantation procedures and development of targeted oral therapies have significantly improved the outcomes for patients suffering from liver cirrhosis.
The Liver Cirrhosis Management Market is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Liver Cirrhosis Market are Madrigal Pharmaceuticals, Inc.,Galectin Therapeutics Inc.,Grifols Therapeutics LLC,CymaBay ...
... Therapeutics, Akero Therapeutics, Inc. Key players are mainly focused on developing novel drug candidates targeting specific pathogenic pathways involved in the condition.
The growing prevalence of alcohol consumption disorder and rising obesity rates globally are fueling the demand for effective liver cirrhosis management therapies. According to the World Health Organization, around 3 million deaths every year result from the harmful use of alcohol.
Major pharmaceutical companies are also expanding their liver cirrhosis drug portfolios through acquisitions and partnerships, especially in high growth emerging markets like Asia Pacific and Latin America. For instance, in 2021, Madrigal Pharmaceuticals completed the acquisition of specialty biopharmaceutical company Syntrix focusing on developing treatments for NASH and liver fibrosis.
Market Drivers
The increasing rates of chronic hepatitis B and C infections are a major factor driving the growth of the global liver cirrhosis management market. According to the WHO, globally, more than 290 million people are living with chronic hepatitis B or C infection. Untreated, these infections can badly damage the liver and eventually lead to cirrhosis or liver cancer. Favorable government initiatives to spread awareness about liver diseases and expanding access to diagnosis and treatment are also boosting the adoption of liver cirrhosis management therapies.
The current geopolitical conflicts and uncertainties are impacting the growth of the liver cirrhosis market globally. The ongoing Russia-Ukraine war has disrupted the global supply chains and export-import of key drugs and medical technologies used for treating liver cirrhosis. This has led to shortages and price hikes of these products in many parts of Europe and Asia. The economic sanctions on Russia by the US and EU countries have made business difficult for major pharmaceutical companies who were dependent on Russia and Ukraine for raw materials. This is likely to slow down the research and development activities of new treatment options for liver cirrhosis in the short term.
At the same time, the lingering effects of the Covid pandemic like increased health budget constraints, resource diversion, and delays in elective surgery and organ transplants in several countries will continue pose challenges. The market players will need to focus on diversifying their manufacturing and supply chain networks to multiple regions to mitigate political and economic risks. Strengthening collaborations with local players in emerging markets will be critical for ensuring timely access to affordable treatments. Technology transfers and capacity building initiatives can help boost the local production capability. The companies may also explore opportunities in relatively stable markets in Asia Pacific and Latin America to offset losses from sanction-hit regions.
In terms of value, North America accounted for the largest share of over 35% in the Liver Cirrhosis Market in 2024 due to high healthcare expenditures and high adoption of advanced drugs and medical devices in the US. However, the Asia Pacific region excluding Japan is projected to witness the fastest CAGR of around 7% during the forecast period. This is attributed to the rising prevalence of non-alcoholic fatty liver disease and growing healthcare investments from China, India and other developing countries to boost treatment access.
The Middle Eastern countries like Saudi Arabia, UAE and Egypt have emerged as important markets with increasing government focus oncombating liver diseases. The growing medical tourism from GCC nations to countries like India and Thailand for liver transplant surgeries indicates emerging opportunities. Further, sub-Saharan African region is witnessed an exponential rise in viral hepatitis infections driving the need for liver cirrhosis management measures.
Get more insights on this topic: https://heyjinni.com/read-blog/140159

Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
What Are The Key Data Covered In This Liver Cirrhosis Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Liver Cirrhosis Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Liver Cirrhosis Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Liver Cirrhosis Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Liver Cirrhosis Market vendors
FAQ’s
Q.1 What are the main factors influencing the Liver Cirrhosis Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Liver Cirrhosis Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Liver Cirrhosis Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it