Alcoholic Hepatitis Therapeutics Market Increase In Development Activities Is More Boosting Demands, 2020-2030
Alcoholic Hepatitis Therapeutics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030
Alcoholic Hepatitis Therapeutics Market: Introduction
According to the report, the global alcoholic hepatitis therapeutics market was valued at US$ 623.6 Mn in 2019 and is projected to expand at a CAGR of 6% from 2020 to 2030. Alcoholic hepatitis is a liver infection caused due to frequent and high consumption of alcohol. Fat that builds up in liver cells can lead to inflammation and scarring of the liver. The infection can be mild or severe. A patient may need a liver transplant if he does not receive treatment or stop consuming alcohol during the early stages. Different types of therapeutics are used in the treatment of alcoholic hepatitis, including corticosteroids, hemorrheologic agents, and anabolic steroids. The growth of the global alcoholic hepatitis therapeutics market can be ascribed to increase in prevalence of the alcoholic liver disease and rise in rate of consumption of alcohol across the globe.
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North America dominated the global alcoholic hepatitis therapeutics market in 2019. This trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early new product adoption, high prevalence rate of alcoholic hepatitis, and presence of major players are estimated to drive the alcoholic hepatitis therapeutics market in North America. Asia Pacific is likely to be a highly lucrative region of the global alcoholic hepatitis therapeutics market. It is projected to expand at a fast-paced CAGR during the forecast period.
Increase in Prevalence of Alcoholic Liver Disease and Rise in Alcohol Consumption Rate to Drive Global Market
Increase in the number of patients afflicted with the alcoholic liver disease across the globe is a key factor driving the global alcoholic hepatitis therapeutics market. Around 88,000 people succumb to alcohol-related diseases annually, making alcohol the fourth leading preventable cause of death in the U.S. Rise in the rate of consumption of alcohol across the globe, especially in developed countries such as the U.S., is expected to boost the market in the near future. The use of alcohol varies throughout the world; the U.S. and Europe record the highest usage of alcohol. Around 67.3% of the population in the U.S. consumes alcohol in the U.S; of this, 7.4% meets the criteria for alcohol abuse.
Strong product pipeline is also anticipated to propel the global alcoholic hepatitis therapeutics market during the forecast period. For instance, Generon Pharmaceutical Technology (Shanghai) Co., Ltd. has an innovative product, F-652, in phase 2 of clinical trial.
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Corticosteroids Treatment to Dominate Alcoholic Hepatitis Therapeutics Market
Based on treatment, the global alcoholic hepatitis therapeutics market has been divided into corticosteroids, hemorrheologic agents, anabolic steroids, and others. The corticosteroids segment dominated the global alcoholic hepatitis therapeutics market in 2019. This trend is projected to continue during the forecast period. Corticosteroids are considered the first line of treatment in the management of alcoholic hepatitis. Thus, the segment accounts for significant share of the global alcoholic hepatitis therapeutics market.
Corticosteroids was followed by the hemorrheologic agents segment in terms of market share in 2019. Various clinical trials are being conducted to establish the efficacy of pentoxifylline in managing severe alcoholic hepatitis. This is augmenting the hemorrheologic agents segment.
Mild to be Highly Lucrative Application Area of Alcoholic Hepatitis Therapeutics Market
In terms of application, the global alcoholic hepatitis therapeutics market has been bifurcated into mild and severe/chronic. The mild segment accounted for a prominent share of the global alcoholic hepatitis therapeutics market in 2019, owing to rise in awareness about the ill effects of alcohol and early diagnosis of the disease.
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North America to Dominate Alcoholic Hepatitis Therapeutics Market
In terms of region, the global alcoholic hepatitis therapeutics market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global alcoholic hepatitis therapeutics market in 2019. It was followed by Europe. Significant share of North America can be ascribed to the increase in the number of people with alcoholic hepatitis, new product launches, and presence of major players in the region. Furthermore, high consumption of alcohol, poor diet, and obesity are some of the common factors boosting the market in the region.
Competition Landscape of Alcoholic Hepatitis Therapeutics Market
The global alcoholic hepatitis therapeutics market is fragmented in terms of number of players. Key players operating in the global market include Gilead Sciences, Inc., Sanofi, Generon Pharmaceutical Technology (Shanghai) Co., Ltd., Immuron Ltd., and Intercept Pharmaceuticals, Inc.
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