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The liver performs vital activities in the body, including protein synthesis, lipid and glucose metabolism, and detoxification of drugs, alcohol, and environmental toxins. Liver disease is a broad term that covers all the potential problems that are caused due to liver failure to execute its intended function. Different types of liver diseases are hepatitis, cirrhosis, liver cancer, and liver abscess (collection of pus).
Liver cirrhosis is a late stage of scarring caused by liver disease and conditions such as chronic alcoholism, hepatitis, and non-alcoholic fatty liver disease. Signs and symptoms of liver cirrhosis include abdominal pain, fatigue, intestinal bleeding, jaundice, weakness, and weight loss. Liver cirrhosis can be broadly classified into hepatitis C-related cirrhosis, alcoholic cirrhosis, primary sclerosing cholangitis, and primary biliary cirrhosis. Approximately 20% to 30% of the people who are chronically infected with the hepatitis C virus are likely to develop liver cirrhosis in the next 15 to 25 years.. Alcoholic cirrhosis is a severe form of liver disease caused by excessive alcohol consumption. About 10% to 15% of people with alcoholism develop liver cirrhosis. Liver cirrhosis cannot be reversed; although if diagnosed earlier, it can be treated, and further damage can be avoided.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that first emerged in late December in the Hubei province of the Wuhan city in China. The virus that causes , severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is highly infectious and is transmitted from person to person. The disease has spread to almost 213 countries across the globe ever since its outbreak in December 2019, compelling the World Health Organization to declare it a pandemic on March 11, 2020.
Coronavirus disease 2019 (COVID-19) has caused an economic crisis along with the healthcare crisis. The COVID-19 pandemic has stretched the global healthcare system and ; developed countries are anticipated to experience an economic recession as a result. The pandemic has had an adverse impact on the healthcare system, with revenue dropping by a 50% to 70% drop since March. Several small hospitals, clinics, and nursing homes, have been forced to shut their operations. Furthermore, social distancing and localized curfews have resulted in delayed elective surgical procedures. Moreover, visa cancellations have disrupted medical tourism and can negatively impact the growth of the healthcare services market..
COVID-19 has post -recovery effects on many organs, including the liver and may induce cirrhosis and other liver disease as a result of viral infection, which is expected to drive the market growth during the forecast period.
Top Impacting Factors
Factors such as rise in prevalence of liver diseases, increase in geriatric population, and surge in R&D activities to develop innovative products contribute toward the market growth. Furthermore, the availability of generic and biosimilar drugs as well as sedentary lifestyles such as increased consumption of alcohol, unhealthy diets are expected to make way for different opportunities for the liver cirrhosis treatment market..
The global liver cirrhosis treatment market is expected to be driven by increase in awareness initiatives and rise in R&D investment for the development of new drug molecules in the near future. However, the high cost of drug development and stringent government regulations are expected to hinder the market growth during the forecast period.
Key Market Trends
The phase II trial of IDN-6556 (emricasan) is underway on liver cirrhosis subjects. , Zydus Cadila received approval from the Drug Controller General of India (DCGI) in December 2020 for their new drug application for Saroglitazar to treat a particular condition of liver, commonly known as NASH in India.
According to the Centers for Disease Control and Prevention, the global incidence of liver disease was 3.9 million in 2016. According to the World Health Organization (WHO), there is an increase in incidence of liver cirrhosis in countries in Europe due to high consumption of alcohol.
Key Benefits of the Report
Questions Answered in the Liver Cirrhosis Treatment Market Report
Key Market Segments
Key Market Players