The Liver Disease Treatment Market size in North America is expected to be worth USD 7.71 billion by 2027 from USD 4.4 billion in 2022, growing at a CAGR of 11.89% during the forecast period.
The liver disease treatment market in the North American region is expected to be driven by an increase in the consumption of alcoholic beverages, the growing proliferation of liver diseases across the region, and illegal drugs such as Illicit, cocaine, and PAP. An increase in the geriatric population is more prone to chronic diseases; however, the growing geriatric population is most likely to uplift the market growth. In addition, rising awareness among the people in the countries such as the United States and Canada about liver disease treatment is expected to increase the market growth. Several new medicines, such as obeticholic acid, thiazolidinediones, and vitamin E, have shown promise in clinical studies to treat nonalcoholic fatty liver disease. In the recent period, Changing lifestyles and unhealthy diets have resulted in a surge in the incidence of liver disease in North America. As diseases have grown more frequent, there is a significant market potential for this sector. The expansion of the liver disease treatment industry would be aided by government and non-government awareness campaigns in the developed countries such as the United States and CANADA.
Furthermore, according to the American Cancer Society, the risk of liver cancer rises by 2.7 percent per year, fueling market expansion. The rise in research and development is further expected to provide lucrative opportunities for the market players. Obesity and overweight have been on the rise in developed nations since 1980, owing to poor diets, raising the risk of liver disease. According to the World Health Organization, Alcohol Use Diseases (AUD) account for a significant portion of neuropsychiatric disorders and contribute significantly to disease burden. Increase investment and funding by the government is more likely to augment the market growth.
On the other hand, market restraints include strict regulatory clearances for liver disease treatment medicines and vaccines and resistance to antiviral treatments used to treat hepatitis B and C. Also, the medication-related side effects are a rising concern, with market value anticipated to decline.
This research report on the North American liver disease treatment market has been segmented and sub-segmented into the following categories:
By Treatment Modality:
By Disease Type:
Geographically, the North American market held the largest share in the global liver disease treatment market in 2020, and North America is predicted to occupy the most massive share over the forecast period in the global market. The market growth in the region is propelled by the availability of advanced healthcare infrastructure, the surge in healthcare spending, and growing awareness of cancer treatment. Favorable government reimbursement policies and significant growth contributors such as the United States and Canada are augmenting the market growth in the region during the forecast period. In this regional market, the United States liver disease treatment market will likely dominate during the forecast period. In 2020, the United States dominated the market, accounting for more than four-fifths of the North American liver disease treatment market. Easy access to medications and vaccinations for treating liver illnesses, growth in the frequency of liver-related medical conditions in the country, and increased knowledge of the necessity of hepatitis immunization all contribute to the market growth.
On the other hand, the market in Mexico is anticipated to grow at the fastest rate of 6.8% during the forecast period, and the Canadian market is expected to account moderate share in the liver disease treatment market. The prevalence of liver diseases such as liver cancer further boosts demand for targeted therapy and chemotherapy in the country; this, in turn, increases the market growth in this region.
KEY MARKET PLAYERS:
Notable players in the North 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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