The new report released by QY Research, titled “Global Liver Fibrosis Drug Industry Research Report, Growth Trends and Competitive Analysis 2019-2025” , provides an assessment of the key market trends and opportunities that impact the market over the forecast period. The report also evaluates the historical and current market scenario to estimate the future of the market with precision.
The global liver fibrosis drug market was estimated to reach US$12.64 bn by 2025 from US$14.3 bn in the year 2018. The market is likely to register a CAGR of -1.7% between 2019 and 2025.
Global Liver Fibrosis Drug Market: Drivers and Restraints
The liver fibrosis drug market will be expanding at a substantial rate due to the growing incidences of chronic diseases such as liver failure, hepatocellular carcinoma, portal hypertension, and liver cirrhosis. The consumption of medicines for a longer duration may also occur in the prevalence of liver fibrosis. The increasing research and development activities by the private and the government organizations to devise treatments for liver fibrosis and fatty liver are also expected to favor market growth. All these factors are expected to collectively augment the growth of the global liver fibrosis drug market over the forecast period.
However, the low rate for voluntary screening for chronic diseases may create a negative impact on the growth of the market throughout the forecast period.
Global Liver Fibrosis Drug Market: Geographical Analysis
North America held the largest market share of 47.09% in the year 2018 and is expected to continue its dominance all throughout 2025. The growing incidences of liver fibrosis due to obesity, alcoholic fibrosis, type 2 diabetes, and metabolic fibrosis in the region are boosting the market. Europe is the second-largest market for the liver fibrosis drug, accounting for a share of 25.14% in the year 2018 and is expected to grow in the coming years.
Global Liver Fibrosis Drug Market: Segment Analysis
The global liver fibrosis drug market is segmented into application and product type. The product type segment is segmented into nucleoside, interferon, maloti lipid, and others. The nucleoside segment is the leading segment as it held a share of 45.37% in the year 2018 and is expected to remain the dominant throughout the forecast period. The application segment includes clinic, research center, and hospital.
Global Liver Fibrosis Drug Market: Key Players
Tri-Prime, Gilead, Merck & Co., Biogen Idec, Roche, Merck KGaA, Bristol-Myers Squibb Company are the top 7-players that are operating in the global liver fibrosis market.
Global Liver Fibrosis Drug Market: Competitive Landscape
Companies are adopting new product development strategy to improve their business and make a stable position in this competitive market. For Instance, one of the key companies, Merck & Co. announced that the U.S. FDA has approved the new supplement drug application of the Merck’s for the use of ZERBAXA. It is mainly developed for the reduction of drug-resistant bacteria and also maintains the effectiveness of the ZERBAXA. It is mainly used to treat infections that are strongly caused by the suspected bacteria.