Growth prospects of the global liver cirrhosis therapeutics market and segmentation by type of molecule (biologics and small molecules), by type of liver cirrhosis (alcoholic cirrhosis, postnecrotic cirrhosis, biliary cirrhosis, and cardiac cirrhosis), by treatment (medications to treat the causes of liver cirrhosis and medications to treat the complications of liver cirrhosis), and by geography (the Americas, APAC, and Europe). Key vendors are Gilead Sciences, GSK, Johnson & Johnson, Merck, and Roche.
Technavio’s market research analysts estimate the global liver cirrhosis medication market to grow at a CAGR of over 4% between 2016 and 2020. Constant technological advancements in terms of drug manufacture, and the rapid development and delivery of the drugs is a primary factor in the growth of this market during the forecast period. Currently, the Americas dominate the global liver cirrhosis medication market, accounting for almost 49% of the overall market value. The increasing incidence of the ailment and the high unmet needs are factors that will propel the market growth over the next four years.
The new market research report from Technavio presents a breakdown and analysis of the liver cirrhosis medication by types of liver cirrhosis.
“There is increasing awareness about liver cirrhosis among people due to the awareness campaigns, seminars, summits, and fundraising events organized by both governmental and non-governmental organizations. Moreover, there has been a remarkable increase in the investments in research and development activities due to the increasing incidence of liver cirrhosis. The growing requirement to fulfill high unmet needs is expected to boost the market growth during the forecast period,” says Barath Palada, Lead Analyst, Pharma, Technavio Research.
During 2015, the alcoholic cirrhosis segment accounted for the majority share of the global liver cirrhosis medication, and occupied around 60% of the total market. Currently, there are three food and drug administration (FDA) approved drugs for the treatment of alcoholic cirrhosis namely disulfiram, naltrexone, and acamprosate. This segment of the market is expected to flourish over the forecast period due to the ability of these drugs to curtail alcohol abuse.
They key vendors in the global liver cirrhosis medication market include Gilead Sciences, GSK, Johnson & Johnson, Merck, and Roche. The existence of high unmet medical needs, such as the adverse effects of drugs, presents a vast opportunity for vendors to develop molecules that have better efficacy and safety profiles for the treatment of liver cirrhosis. This will create a strong competition among small and large players in the liver cirrhosis therapeutics market who will compete on the basis of price, quality, and innovation.
A more detailed analysis is available on the Technavio report, Global Liver Cirrhosis Medication Market 2016-2020.
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