(PharmaNewsWire.Com, March 28, 2017 ) The Global Liver Disease Treatment Market is expected to reach USD 17.25 billion by 2021 from USD 9.25 billion in 2016, growing at a CAGR of 11.72% during the forecast period, 2016-2021
Liver is a vital organ of the body performing umpteen complex functions such as fighting infections, removing toxins, bile secretion, and it produces clotting factors, proteins, and cholesterol, among others. Malfunctioning of liver can be life-threatening as it can cause multiple acute and chronic diseases (hepatitis, non-alcoholic fatty liver disease, liver cancer, liver tumour, and liver cirrhosis, among others). The initial symptoms of liver damage include nausea, fatigue, diarrhoea, jaundice, swollen abdomen, and mental disorientation among other. Acute liver damage can be treated through proper medication, if detected early, otherwise liver transplant is required. Liver damage can be prevented by adopting healthy lifestyle and practicing proper hygiene.
The growth of Liver Disease Treatment market is majorly driven by factors such as boost in Research & Development investment, unorganized lifestyle, rising public awareness, growth in geriatric population, and unmet needs for the treatment of liver cancer. Additionally, spur in demand for alcohol has increased the risk of liver cirrhosis. According to World Health Organization, alcohol consumption is anticipated to cause 20% to 50% of cirrhosis of the liver. Also, growing obese population has also increased the risk of non-alcoholic fatty liver disease which is caused by build-up of fat in the liver. The obese population has doubled since 1980. In 2014, approximately 13% of the worlds population, that is, more than 600 million adults were obese as per World Health Organization.
The major companies dominating the global Liver Disease Treatment Market are Gilead Science Inc. (U.S.), Pfizer Inc. (U.S.), Merck & Co. (U.S.), Johnson & Johnson (U.S.), Novartis (Switzerland), Roche (Switzerland), Sanofi-Aventis (France), Abbott Laboratories (U.S.), Bayer Schering AG (Germany), and AstraZeneca (United Kingdom).
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