Increase in consumption of alcoholic beverages and use of illegal drugs and increased government and private awareness programs have boosted the growth of the North America liver disease treatment market. The market across Mexico is expected to manifest the highest CAGR of 6.8% during the forecast period. Majority of the immunization programs are halted and the demand for immunosuppressants has decreased due to reduction in liver transplant during lockdown.
Portland, Oct. 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the North America Liver Disease Treatment Market accounted for $6.97 billion in 2019, and is projected to reach $8.31 billion by 2027, growing at a CAGR of 5.2% from 2020 to 2027.
Increase in consumption of alcoholic beverages and use of illegal drugs, surge in the geriatric population, surge in prevalence of liver diseases, and increased government and private awareness programs have boosted the growth of the North America liver disease treatment market. However, strict regulatory approvals regarding liver disease treatment drugs and vaccines and resistance to antiviral drugs used in treatment of hepatitis B and hepatitis C hamper the market. On the contrary, presence of strong pipeline products is expected to open new opportunities for the market players.
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The lockdown imposed by governments across the globe has led to disruption in the supply-demand of medicines and lack of healthcare professionals for liver disease treatment.
Majority of the immunization programs are halted and the demand for immunosuppressants has decreased due to reduction in liver transplant during the lockdown.
The North America liver disease treatment market is divided on the basis of treatment type, disease type, and country. Based on treatment type, the market is segmented into antiviral drugs, immunosuppressants, vaccines, immunoglobulins, corticosteroids, targeted therapy, and chemotherapy. The antiviral drugs segment dominated the market in 2019, accounting for more than half of the market. However, the immunosuppressant segment is expected to manifest the highest CAGR of 7.3% during the forecast period.
On the basis of disease type, the market is classified into hepatitis, autoimmune diseases, non-alcoholic fatty liver disease, cancer, genetic disorders, and others. The cancer segment is projected to portray the highest CAGR of 7.6% during the forecast period. However, the hepatitis segment held the largest share in 2019, accounting for more than four-fifths of the market.
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North America liver disease treatment market is analyzed across the U.S., Canada, and Mexico. The market across Mexico is expected to manifest the highest CAGR of 6.8% during the forecast period. However, the market across the U.S. held the lion’s share in 2019, contributing to more than four-fifths of the market.
North America liver disease treatment market report includes an in-depth analysis of the major market players such as Astellas Pharma Inc., Merck & Co., Inc. (Merck Sharp & Dohme Corp.), Mylan, AbbVie Inc., Dynavax Technologies, Eli Lilly and Company, Gilead Sciences, Inc., Pfizer Inc., Emergent BioSolutions (Cangene bioPharma), and Bristol Myers Squibb.
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