The global cirrhosis management market, estimated at US$ 725 million in 2023, is anticipated to grow at a CAGR of 3.8% over the course of the forecast period and reach US$ 1,052.3 million by 2033. From 2018 to 2022, the market experienced a compound annual growth rate of 2.7%. The market’s growth might be linked to the rising rates of liver cirrhosis brought on by an increase in hepatitis infections worldwide.
The market is expected to be positively influenced by the surging geriatric population, which is prone to different chronic disorders, like liver disease. Additionally, the altered dietary intake and sedentary lifestyle are also projected to propel market growth, as more global population is facing issues in the liver and needing cirrhosis management to cure it.
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Increasing penetration of fatty liver disease caused by factors like obesity, immoderate cholesterol, hypertension (high blood pressure), and diabetes is also pushing the demand for cirrhosis management.
Technological progress in the market has led to the development of bioartificial liver, which is further helping the market advance forward. The bioartificial liver helps substitute liver functions with regenerated liver cells and is usually used in individuals with severe liver failure.
Fast acceptance of anti-viral medications, secure and effective in conquering the hepatitis B virus and reducing the risk of emergent cirrhosis and hepatocellular carcinoma, is propelling the market growth. The surge in research and development efforts, considerable expansion of the healthcare industry, and execution of various government policies to boost public health are expected to be profitable for active market participants.
Top Highlights from the FMI’s Analysis of the Cirrhosis Management Market:
- North America gained a 39.2% market share in 2022. The colossal share of the region can be attributed to a large number of key players present there.
- The United States cirrhosis management industry is expected to account for the majority of the share of the cirrhosis management industry.
- The European market acquired a 26.7% share in the market in the historical period. Due to the prominent stake of the region in the market, businesses are expected to increase their capacity to serve the surging demand for cirrhosis management.
- The technologically progressive nature of Germany is expected to boost its prominence in the market. FMI expects the country to account for more than 8.1% market share in 2023.
- The Japanese cirrhosis management market is projected to record a market value of 2.9%, representing a relatively low market hold yet offering businesses new prospects for growth.
- China and India are expected to record 4.3% and 4.1% CAGRs, respectively, over the forecast period.
- Based on disease indication, alcoholic liver cirrhosis accounted for a market share of 72.3% in 2022.
- Under the category of end users, hospitals are expected to register a market share of 44.7% in 2022.
Key Developments in the Market:
- In January 2022, Alnylam and Novartis declared that they are collaborating to search for targeted therapy to bring back liver health. Both companies have confirmed to work jointly on the discovery and creation of siRNA-based targeted therapies aimed at regaining functional liver cells in patients suffering from complex liver disorders. The aim of this collaboration was to develop liver-targeted therapy as a substitute for transplantation for patients inflicted with liver disorders.
- In September 2022, Versantis, a privately owned Swiss clinical-stage biotechnology firm, came into an agreement with GENFIT to obtain all its voting rights and share capital. This development fits the strategic vision of GENFIT to become a global leader in Acute-on-Chronic Liver Failure (ACLF).
- By collaborating with Takeda Pharmaceuticals and Arrowhead Pharmaceuticals, School of Medicine scientists from Saint Louis University have developed the 1st effective medication to cure a rare genetic liver disorder earlier only treatable via liver transplantation. They successfully checked the safety and efficiency of fazirsiran, which is an RNA interference medication.
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Key Companies Profiled:
- B. Braun Medical Inc.
- Alliancells Bioscience Corporation Ltd.
- Histogen Inc.
- Stempeutics Research Pvt. Ltd.
- Epic Research & Diagnostics Inc.
- Theravance Biopharma R&D Inc.
- Sequana Medical AG
Key Segments Profiled in the Cirrhosis Management Industry Survey:
By Treatment:
- Treating Cirrhosis Causes
- Antiviral Medications for Hepatitis B & C
- Corticosteroids
- Symptomatic Treatment
- Analgesics
- Treatment of Portal Hypertension (Beta-Blockers, Nitrates)
- Treatment of Edema and Ascites (Diuretics, Antibiotics)
- Avoid Complications
- Banding Procedures/Band Ligation of Varics
- Dialysis
- Treatment of Osteoporosis
- Vaccination for Flu and Other Complications
- Liver Transplantation
By Disease Indication:
- Alcoholic Liver
- Non-Alcoholic Liver
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Research Institutes
- Dialysis Centers
- Clinics
- Other Settings
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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