Asia-Pacific Liver Disease Treatment Market is expected to reach USD 2.83 billion by 2021 from USD 1.57 billion in 2016, growing at a CAGR of 12.51% during the forecast period, 2016-2021.
As the second largest internal organ, liver performs many complex functions in the body (bile secretion, toxin removal, and fighting infections, etc.). 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. Asia-Pacific is the fastest growing market for Liver Disease Treatment Drugs. As per recent report, 7% of population in China are infected by Hepatitis, out of which many are at the risk of developing chronic liver cancer and cirrhosis. Additionally, Non-Alcoholic Fatty Liver Disease are now widely prevalent in Asia-Pacific region.
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The growth of Liver Disease Treatment market is majorly driven by factors such as unorganized lifestyle, rising public awareness, increasing alcohol consumption, unmet needs for the treatment of liver cancer, and growing obese and diabetic population. The key restraints of the market are side-effects of the product (fatigue, fever, and depression) and competition from alternative medicine (Herbal, Natural medicine). Herbal medicines have been used for the treatment of liver for a long time and its use has increasing manifold lately due to growing domestic manufacturing companies. These products are marketed as safe with no side-effects, thereby enjoys the trust of the customer. Furthermore, high cost of the drugs also hinders the growth of Liver Disease Treatment market.
The Asia-Pacific Liver Disease Treatment Market is segmented on the basis of Treatment Modality and Disease Type. Based on Treatment Modality, the market is classified into Antiviral, Vaccines, Chemotherapy, Immunosuppressive Agents, Corticosteroids, and Others. On the basis of Disease Type, the market is classified into Hepatitis, Non-Alcoholic Fatty Liver Disease, Alcohol Induced, Liver Cancer, and Others
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The Asia-Pacific market is geographically segmented into China, India, Japan, South Korea and Australia.
The major companies dominating the Asia-Pacific 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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