Worldwide Liver Cirrhosis Treatment Market is valued USD 10.48 Billion in 2018 and is projected is to exhibit 10.8% CAGR during the forecast period. The market is projected to be around USD 19.37 billion by 2026. The market is driven by the increasing number of liver disease patients across the globe.
Cirrhosis can be defined as a late stage of scarring (fibrosis) of the liver caused by liver diseases & conditions, such as, hepatitis and chronic alcoholism. If diagnosed early, liver cirrhosis can be treated, further damage can be limited and, rarely, reversed.
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Growing prevalence of liver diseases, rise in number of government initiatives to create awareness & prevention of cirrhosis, increasing consumption of alcohol across the globe, and growing R&D investment by key pharmaceutical companies to develop novel drugs can be the key factors attributing to the growth of Liver Cirrhosis Treatment Market in the coming years. However, stringent regulatory policies and side effects associated with cirrhosis treatment are expected to restraint the market growth to a certain extent in the coming years.
Growing geriatric population, changing lifestyles & habits in emerging nations, and incessant approvals by regulatory bodies for commercial availability of cirrhosis treatment are expected to offer significant growth opportunities in the coming years. Furthermore, increase in number of clinical trials are anticipated to boost the market growth in the coming years.
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North America holds the major market share of the global Liver Cirrhosis Treatment Market due to focus of key market players on strengthening their presence in the US. These companies have been taking up various organic and inorganic growth strategies to enhance its presence in the US. Furthermore, increasing alcohol consumption and growing awareness on prevention of cirrhosis are expected to bolster the market growth during the forecast period.
Global Liver Cirrhosis Treatment Market is segmented into disease type, drug type, and region. On the basis of the disease type the market is further bifurcated into alcoholic cirrhosis, hepatitis C-related cirrhosis, primary biliary cirrhosis, and primary sclerosing cholangitis. The market based on drug type is segmented into immunosuppressants, chemotherapeutic drugs, vaccines, immunoglobulins, targeted therapy, corticosteroids, and antiviral drugs. Based on the geography the market is further segregated into North America, Latin America, Middle East & Africa, Europe and Asia Pacific.
The players associated with the Global Liver Cirrhosis Treatment Market include Pfizer, Inc., Abbott Laboratories, Merck & Co., Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Takeda Pharmaceuticals Company Ltd, Zydus Pharmaceuticals Inc, Gilead Sciences, GlaxoSmithKline, Intercept Pharmaceuticals, Conatus Pharmaceuticals, Janssen Pharmaceuticals, Instituto Grifols and Gwo Xi Stem Cell Applied Technology.
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