Published: Sep, 2016
The global liver diseases therapeutics market is fragmented and is characterized by high competitive rivalry. Companies are investing heavily in research and development to stay in the competition. However, sizeable capital investments can only be afforded by the bigger companies, therefore leading to their dominance in the global liver diseases therapeutics market, finds Transparency Market Research (TMR) in a new study. The vendors prefer to offer only some specific treatments and operate in limited segments of the market. To put this in perspective, the key players in the vaccines market for liver diseases are GSK and Merck, with the former accounting for 45% of the overall market in 2011.
“The high capital investment and strict regulatory norms for the approval of liver diseases therapeutics pose a high entry barrier for new players,” says the author of the report. However, there is some scope of entry for large healthcare companies through mergers and acquisitions.
The global liver diseases therapeutics market was valued at US$8.54 bn in 2015 and is expected to reach a value of US$10.96 bn by 2018, at a CAGR of 8.6% between 2012 and 2018. On the basis of drug class, anti-viral drugs were the leading segment in terms of revenue in 2015; the segment is anticipated to reach US$3.58 bn by the end of 2018. However, the chemotherapy drugs market is estimated to post a very high CAGR of 43.2% during the same period. The approval and commercialization of various pipeline drugs in the near future is likely to give a significant push to this segment.
High Unmet Demand for Liver Cancer to Fuel Liver Diseases Therapeutics Sales
An alarming rise in the number of people suffering from liver diseases is the key driver for the global liver diseases therapeutics market. The growing prevalence of alcoholic fatty liver and liver cancer has increased the demand for therapeutics options available for curing these diseases. Additionally, there are high unmet needs for liver cancer in terms of both safety and efficacy. With only a few approved targeted drugs treatment available for advanced liver cancer patients, the arrival of new pipeline drugs can give a significant boost to the growth of the global liver diseases therapeutics market.
Other factors such as increasing Hepatitis vaccination drives and awareness programs by governments in emerging economies and rising geriatric global population are anticipated to bolster the growth of the global liver diseases therapeutics market.
Side Effects Associated with Liver Diseases Therapeutics to Dent their Demand
Side effects such as nausea, headache, loss of appetite, and fever associated with the use of liver therapeutics have reduced the adoption of these drugs. Moreover, the drugs have to undergo rigorous clinical tests, which makes them expensive. Additionally, these procedures make it difficult for an organization to get its drug approved and available in the market. Furthermore, there are a large number of alternative treatment procedures such as organ transplantation and other surgeries available to the patients. All these factors can adversely affect the demand for liver diseases therapeutics, thereby impeding the growth of the global liver diseases therapeutics market.
However, the advent of more effective and safer drugs, which are currently in the pipeline, is likely to provide immense opportunities to the global liver diseases therapeutics market in the coming years. Moreover, emerging markets of Asia, Europe, and Latin America present promising growth opportunities to liver diseases therapeutics manufacturers.
The information presented in this review is based on a Transparency Market Research report, titled, ‘Liver Diseases Therapeutics Market - Global Industry Analysis, Size, Share, Trends and Forecast 2012 - 2018.’
The global liver diseases therapeutics market has been segmented as follows:
Global liver diseases therapeutics market, by diseases and therapy type:
- Alcohol induced liver disease
- Autoimmune liver disorder
- Hepatocellular carcinoma
- Non-alcoholic fatty liver disease
- Viral/hepatitis liver disorder
Global liver diseases therapeutics market, by drug class:
- Chemotherapy drugs
- Targeted therapy drugs
- Anti-viral drugs
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