North America Liver Disease Treatment Market

North America Liver Disease Treatment Market Overview:

The North America liver disease treatment market accounted for $6,970 million in 2019, and is expected to reach $8,318 million by 2027, registering a CAGR of 5.2% from 2020 to 2027. 

Vaccines segment is expected to witness a decline owing to the fact that vaccination programs were put on hold to concentrate on medical care for COVID-19.

Liver disease treatments are defined as any medical care provided to the patient suffering from liver diseases in form of vaccines and drugs. For instance, there are different types of drugs available to treat a wide range of liver related disorders such as antiviral drugs are utilized for treatment of hepatitis viral infection. Similarly, drugs such as corticosteroids are used in treatment of alcoholic hepatitis and immunosuppressants are administered to patients with a transplanted liver. In addition, other drugs used to cure liver related medical conditions include immunoglobulins, which are obtained from plasma of patients who have recovered from hepatitis B viral infection. 

Moreover, liver diseases also include use of vaccines to provide immunization against viral hepatitis. In addition, other major liver disease that require treatment include liver cancer. For instance, liver cancer is a highly fatal medical condition, hence requires treatment that includes use of targeted therapy and chemotherapy drugs. 

Increase in alcohol consumption & use of illegal drugs and rise in prevalence of liver disease is the major factor that contributes toward the market growth. Moreover, factors such as surge in geriatric population and rise in government and non-government awareness programs also boost the North America liver disease treatment market growth. 

However, stringent approval process related to drugs and resistance to antiviral drugs used in treatment of hepatitis B and hepatitis C restrict the market growth. Conversely, presence of strong pipeline products offer lucrative opportunities for the North America liver disease treatment market.

COVID-19 Impact Analysis on North America Liver Disease Treatment Market

COVID-19 pandemic has affected every business adversely. For instance, after COVID-19 was declared as a pandemic by the WHO, countries worldwide adopted nationwide lockdowns to observe social distancing as a measure to contain the spread. This led to disruption, limitation, challenges, and changes in each sector of every industry in North America. Similarly, the liver disease treatment market was also impacted by the pandemic. Moreover, every segment in the market had a different impact. For instance, vaccines suffered a negative impact as immunization programs were halted. In addition, immunosuppressants were also affected in a negative manner. This was attributable to the fact that liver transplants decreased during lockdown as these procedures are elective and can be postponed. Similarly, other treatment types such as corticosteroids had a moderate impact from lockdowns. 

North America Liver Disease Treatment Market Segmentation  

The North America liver disease treatment market is segmented on the basis of treatment type, disease type, and country to provide a detailed assessment of the market. By treatment type, the market is divided into antiviral drugs, immunosuppressants, vaccines, immunoglobulins, corticosteroids, targeted therapy, and chemotherapy. By disease type, it is divided into hepatitis, autoimmune diseases, non-alcoholic fatty liver disease (NAFLD), cancer, genetic disorders, and others. By country, it is classified into the U.S., Canada, and Mexico.

Segment Review

On the basis of treatment type, anti-viral drugs occupied major share of the North America liver disease treatment market size in 2019, and is expected to remain dominant throughout the forecast period. The growth of this segment is attributable to rise in incidences of hepatitis in North America, which requires use of anti-viral drugs. Furthermore, the vaccines segment is expected to acquire the fastest growth rate during the forecast period, owing to presence of government bodies and pharmaceutical companies, which work to ensure proper vaccine coverage in North America. In addition, surge in awareness related to importance of immunization against hepatitis is another major factor that drives growth of the vaccines segment.

By disease type, the hepatitis segment occupied a major share of the market in 2019, owing to widespread prevalence of the disease in North America. In addition, the cancer segment is expected to witness highest growth rate during the forecast period, owing to rise in R&D expenditures related to cancer treatment. Furthermore, rise in focus of key players on developing new liver cancer treatments is also expected to drive the North America liver disease treatment market.   

In 2019, the U.S. accounted for the major share of the North America liver disease treatment market size, and is expected to continue this trend, owing to surge in prevalence of hepatitis, presence of huge number of geriatric populations, and easy availability of liver disease treatments. Moreover, other factors such as surge in health expenditure also boosts growth of the liver disease treatment market in North America. Mexico is expected to exhibit fastest growth rate, owing to surge in awareness related to use of liver disease treatments. In addition, surge in awareness related to importance of immunization against hepatitis in the country also propels the North America liver disease treatment market growth. 

The North America liver disease treatment market is highly competitive and prominent players in the market have adopted various strategies to garner maximum North America liver disease treatment market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Astellas Pharma Inc., Mylan, AbbVie Inc., Merck & Co., Inc. (Merck Sharp & Dohme Corp.), Eli Lilly and Company, Dynavax Technologies, Pfizer Inc., Gilead Sciences, Inc., Bristol Myers Squibb, and Emergent BioSolutions (Cangene bioPharma).

Key Benefits For Stakeholders

• This report entails a detailed quantitative analysis along with the current North America liver disease treatment market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
• The North America liver disease treatment market forecast is studied from 2020 to 2027. 
• The market size and estimations are based on a comprehensive analysis of key developments in the industry. 
• A qualitative analysis based on innovative products facilitates strategic business planning.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the North America liver disease treatment market.

 North America Liver Disease Treatment Market Report Highlights