Liver Disease Treatment Market Trends, Share, and Growth (2021-2031)
The liver disease treatment market size is projected to reach US$ 6.94 billion by 2031 from US$ 4.41 billion in 2023. The market is expected to register a CAGR of 5.8% during 2023–2031. Increasing use of hybrid systems for imaging owing to the benefits offered as compared to the conventional systems are likely to remain key trends in the market.
Liver Disease Treatment Market Analysis
Liver disease treatment market is driven by the increasing prevalence of liver diseases along with surge in technological advancement for the treatment and diagnosis of such conditions. There have been various factors contributing to the increasing prevalence of liver disease, increased consumption of alcohol, surging liver infections such as hepatitis A and B, and increasing incidence of liver cancer, and others. Additionally, surging collaborations and partnerships among market players for the development of new treatment and diagnostic techniques are expected to further contribute to the overall market growth.
Liver Disease Treatment Market Overview
Liver disease treatment market is expected to grow moderately during the forecast period owing to the rising prevalence of liver diseases and technological advancements in imaging techniques. Additionally, surging collaboration and partnership among market players is likely to create ample opportunities however, the high cost of imaging techniques and stringent regulatory policies are expected to hamper the market growth. Furthermore, North America accounts for the major share followed by Europe, and Asia Pacific is expected to show significant growth over the next few years. North America consists of high developed countries with developed healthcare infrastructure along with high disposable income. Asia Pacific consists of developing countries with and increasing number of liver disease cases, government initiatives taken for liver treatment, and a rise in the development by the market players for the treatment of liver diseases. The change in the culture, lifestyle and consumption of alcohol is expected to increase the number of liver diseases number and eventually the market for liver treatment is anticipated to grow significantly.
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Liver Disease Treatment Market: Strategic Insights
Market Size Value in US$ 3,426.8 Million in 2017 Market Size Value by US$ 4,883.5 Million by 2025 Growth rate CAGR of 4.6% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Liver Disease Treatment Market: Strategic Insights
| Market Size Value in | US$ 3,426.8 Million in 2017 |
| Market Size Value by | US$ 4,883.5 Million by 2025 |
| Growth rate | CAGR of 4.6% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Liver Disease Treatment Market Drivers and Opportunities
Increasing Prevalence of Liver Diseases to Favor Market Growth
There has been a significant rise in the number of liver diseases across the globe during the previous years. Various factors such as changing lifestyle patterns, diabetes, obesity, metabolic syndrome, and cardiovascular disorders have been leading to an increase in the cases of liver disease. According to National institute of Health, 2023 report, Liver disease accounts for 2 million deaths annually which is 4% of all deaths globally. Among various liver diseases, the cases of Alcoholic liver disease (ALD) is among the main causes of chronic liver disease worldwide. ALC accounts for 48% of cirrhosis associated deaths in the United States. Liver disease is considered to be the fifth reason cause of death in England & Wales, after heart, cancer, stroke and respiratory disease. Alcohol consumption is said to be a major factor leading to liver diseases among the population in the United States as well as UK. In the UK, alcohol consumption per person across the population has more than doubled in the last half-century. The rise in the number of liver diseases is expected to grow at a significant rate during the forecast period, hence fueling the growth of the market in the coming years.
Partnerships and Collaborations Between Market Players create ample Opportunities for the Market
In recent years, there have been various partnerships as well as collaborations among the players operating in the market. For instance, in January, 2024, Mindray North America, collaborated with Aegle Medical Solutions, to be the sole distributor of its Hepatus-Series Transient Elastography Diagnostic Ultrasound Systems for liver care. Additionally, in December 2023, Clarivate Plc launched VeriSIM Life Translational Index on Cortellis Drug Discovery Intelligence and this new solution is the next step of an intensifying partnership between Clarivate and VeriSIM Life. The integrated workflow provides customers with a multitude of predictive compound safety and efficacy insights, including bioavailability, hepatic and renal clearance, clinical toxicity, first-in-human dose and more. Partnerships and collaborations are considered to offer growth opportunities to the market players. Such growth strategies made by the companies are likely to offer significant growth opportunities for the market players operating in the liver treatment market during the forecast period.
Liver Disease Treatment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the liver disease treatment market analysis are disease and imaging modality.
- Based on disease, the liver disease treatment market is segmented into cirrhosis, hepatitis, cancer and other diseases. The cancer segment held a largest market share in 2023.
- By imaging modality, the market is segmented into magnetic resonance imaging (MRI), computed tomography (CT), ultrasound, and other modalities. The computed tomography segment held the largest share of the market in 2023.
Liver Disease Treatment Market Share Analysis by Geography
The geographic scope of the liver disease treatment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market owing to the increasing incidences of hepatitis A, B and C, rise in the number of the liver cancer and nonalcoholic fatty liver diseases. The developments by the market players for the diagnostic imaging equipment and rise in the market consolidation are likely to lead the growth of the liver disease treatment market in the forecast period. In addition, the growth of the medical tourism is the Mexico is attracting more patients for the treatments at cheaper cost. The region is anticipated to continue to hold largest market for the liver treatment in the coming near future. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Liver Disease Treatment Market Report Scope
Liver Disease Treatment Market News and Recent Developments
The liver disease treatment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the liver disease treatment market are listed below:
- The company launched QP-Liver, which improves the diagnosis of diffuse liver diseases through highly accurate quantification of tissue fat and iron from MRI scans. It has been given a CE and UKCA mark for the European Union and United Kingdom respectively, meaning it is cleared to be used in those markets. (Source: Quibim, Company Website, March 2024)
- PerkinElmer Inc launched Vega imaging system, that combines hands-free, automated technology with high-throughput capability to accelerate non-invasive research and drug development studies of cancer, liver and kidney disease, cardiology and more. (Source: AXIS IMAGING NEWS, Newsletter, April 2022)
- Royal Philips has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its new Liver Fat Quantification tools as part of the latest release of its ultrasound systems EPIQ Elite and Affiniti, bringing the cost and accessibility advantages of sonography to the diagnosis of early-stage liver disease. (Source: Royal Philips, Press Release, November 2021)
Liver Disease Treatment Market Report Coverage and Deliverables
The “Liver Disease Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Liver Treatment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Liver Treatment market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- liver disease treatment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the liver disease treatment market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Diseases and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
North America Region is expected to dominate the liver disease treatment market in 2023.
The increasing prevalence of liver diseases and technological advancement in imaging techniques are the driving factors impacting the liver disease treatment market
Increasing use of hybrid systems for imaging over conventional systems are future trends of liver disease treatment market
Leading market players operating in the liver disease treatment market include General Electric, Koninklijke Philips N.V., Siemens AG, Canon Medical Systems Corporation, Hitachi, Ltd, Elekta AB (pub), Neusoft Corporation, Samsung Healthcare, BPL Medical Technologies, and Cura Healthcare.
The liver disease treatment market is expected to reach around US$ 6.94 Bn by the end of 2031
The Liver disease treatment is expected to grow at the CAGR of 5.8% during the forecast period.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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