The size of the Liver Disease Treatment Market in Latin America is expected to reach USD 4.45 billion by 2027 from USD 2.68 billion in 2022, growing at a CAGR of 10.69% during the forecast period.
The term liver disease refers to various illnesses that affect the liver. Due to unmet clinical demands and impending therapy improvements, the Latin American market for liver disease treatment is expected to rise during the forecast period. As a result of changing lifestyles, such as increased alcohol consumption and poor diets, the incidence of liver disease has grown. In contrast, the expanding geriatric population in Latin America has resulted in a significant increase in the market for liver disease therapy. As illnesses have gotten more widespread, this industry has tremendous market potential. The growth of the liver disease treatment industry would be aided by government and non-government awareness efforts.
The rising prevalence of liver illnesses has necessitated increased awareness. Governments and non-profit groups in Latin America play a critical role in raising awareness about liver illnesses. These organizations raise awareness of liver illnesses and provide funding for research and development to prevent, treat, and cure them.
Another key factor driving the growth of the liver disease treatment market in Latin America is the rising prevalence of obesity, metabolic syndrome, diabetes, and cardiovascular problems, all of which lead to liver diseases. In addition, the market is likely to be driven by an increase in the prevalence of liver disease due to adverse effects from other pharmaceuticals such as acetaminophen and inadequate sanitary and sanitation conditions during the forecast period.
However, government regulations and the high expense of medication research and development have a significant impact on the liver disease treatment market in North America. In addition, the increased concern over drug side effects is projected to lead to a decrease in market value. However, the market would rise if patents expired and the general public became more aware of health issues.
The impact of the pandemic on healthcare resources has had a negative influence on chronic liver disease patient treatment and results. As a result, the treatment, diagnosis, and follow-up of individuals with liver disease have decreased, resulting in adverse effects for the healthcare industry. In addition, unhealthy eating habits, smoking, and alcohol consumption contributed to liver failure. These cause liver damage and therapy are unavailable in distant places.
This research report on the Latin American liver disease treatment market has been segmented and sub-segmented into the following categories:
By Treatment Modality:
By Disease Type:
Geographically, the Latin American market accounted for a substantial share in the global market in 2020. Factors such as unhealthy diet, excessive stress levels, and disorganized living habits are majorly damaging the liver's health. Overweight and obesity rates have quadrupled in developed nations like Mexico and Brazil since 1980, increasing the risk of liver disease. Furthermore, rising alcohol intake has contributed to an increase in deadly liver disease. As a result of these factors, the incidence of liver disorders has increased, propelling the growth of the Latin American liver disease treatment market during the forecast period.
During the forecast period, Mexico and Brazil are predicted to play a notable role in the Latin American market.
KEY MARKET PLAYERS:
Companies playing an influential role in the Latin America liver disease treatment market profiled in the report 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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