- The growing number of liver diseases creates a larger patient population in need of effective therapeutic options, particularly for conditions such as hepatitis B and C. Contributing factors such as rising alcohol consumption, unhealthy dietary habits, and an increase in obesity rates have all led to more people being diagnosed with these liver conditions
- As liver damage advances, the risk of developing liver fibrosis increases, placing a significant burden on healthcare systems to offer effective treatment options. This growing demand drives the development and availability of targeted therapies, fueling market growth as healthcare providers seek innovative solutions for managing this condition
- Moreover, increased awareness among healthcare practitioners and the general public has led to more individuals being screened and diagnosed at earlier stages of liver disease. Advancements in diagnostic techniques, including non-invasive imaging and blood tests, have facilitated the identification of liver fibrosis sooner in the disease's progression. This early detection allows for timely interventions, stimulating the demand for innovative treatments that effectively reverse or manage liver fibrosis
- For instance, in August 2023, as per an article published by NCBI, liver disease accounts for two million deaths annually and is responsible for 4% of all deaths (1 out of every 25 deaths worldwide); approximately two-thirds of all liver-related deaths occur in men. This alarming statistic underscores the urgent need for effective treatment options and highlights the significant public health burden posed by liver diseases, further motivating healthcare systems and pharmaceutical companies to prioritize the development of innovative therapies specifically targeting liver fibrosis and its underlying causes
- Consequently, pharmaceutical companies and medical researchers are compelled to invest in developing new therapeutic options, thus propelling the market as stakeholders aim to combat the rising incidence of liver diseases and their associated complications.
