Fact.MR – A Market Research and Competitive Intelligence Provider: According to the recent study by Fact.MR, the global byler disease market is estimated to exhibit positive growth in the forecast period 2021 to 2031.
The market research survey conducted by Fact.MR presents a deep-dive assessment of the current growth dynamics affecting the pace of the byler disease market growth. The report also discloses insights into byler disease demand outlook in terms of treatment, and end user during the assessment period
Fact.MR – A Market Research and Competitive Intelligence Provider: According to the recent study by Fact.MR, the global byler disease market is estimated to exhibit positive growth in the forecast period 2021 to 2031. The market is largely driven by the increasing prevalence of genetic disease such as progressive familial intrahepatic cholestasis (PFIC) and biliary conditions across the globe.
In recent past years, the incidence of liver diseases such as hemochromatosis, liver cancer, hepatitis, liver cirrhosis, and others has increased consistently. According to a report by the Centers for Disease Control and Prevention, around 4.5 million people in the U.S. were diagnosed with liver diseases in 2018. It also estimates that the burden of liver diseases increases 9.9% every year.
Thus, the demand to curb the incidence of these diseases is anticipated to provide lucrative growth opportunities for the byler disease market. Also, a number of industry players have shown great inclination towards the development of novel therapeutics such as phenobarbital, rifampin, and others for the treatment of byler disease. Their efforts are expected to drive the market through the forecast period.
However, the unprecedented outbreak of COVID-19 has been hampering the market growth. The fear of contracting the novel coronavirus has resulted in declining hospital visits. This also had a negative impact on the byler disease market.
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Nonetheless, the rising availability of biosimilar drugs and adoption of government and non-government awareness programs intended at creating awareness about various ailments affecting liver will facilitate market growth in the coming years.
“Industry players are aiming at increasing funding to support research on pediatric and adult liver diseases. Their aim is to encourage development of advanced therapeutics and procedures such as laparoscopic surgeries for the treatment of diseases affecting liver. These efforts are expected to bode for the market, creating opportunities for growth,” says a Fact.MR analyst.
Key Takeaways from Byler Disease Market Analysis
- In North America, the U.S. is anticipated to account for the lion’s share due to the high prevalence of chronic disease and the presence of updated technology for the treatment of rare diseases.
- The market in the U.K. is projected to expand at a rapid pace during the forecast period, supported by the favorable government for research and development activities.
- Due to the increasing patient pool of liver diseases in China, the country is likely to emerge as a lucrative market for byler disease.
- India is forecast to contribute a subsequent revenue share in the Asia Pacific market, owing to the increasing deployment of various novel surgical equipment such as cryo and laser devices in the country.
- Based on end user, hospitals are estimated to generate the largest revenue share in the market favored by the presence of technologically advanced medical devices for better patient care.
Key Drivers
- Rising consumption of alcohol and growing unhealthy eating habits might affect liver health. These factors will therefore drive the market.
- Increasing cases of liver diseases across the world is propelling the growth of byler disease market.
Key Restraints
- High cost of diagnosis and treatment for liver diseases is hampering the growth of byler disease market.
- Lack of awareness regarding rare hereditary diseases such as byler disease is posing a challenge for the market growth.
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Competitive Landscape
The global byler disease market is highly competitive in nature due to presence of large number of local and regional players in the industry. Leading player in the market are adopting various business expansion strategies such as innovative product offerings, acquisition, partnerships and agreements to gain competitive edge over others and expand their reach. For instance,
- Zydus Cadila, an Indian multinational pharmaceutical company, announced introducing new drug for the treatment liver disease, non-alcoholic steato hepatitis (NASH), Saroglitazar. It is the world’s first drug for the treatment of NASH disease.
- AstraZeneca PLC a British-Swedish multinational pharmaceutical and biotechnology company, announced acquiring the rights to experimental nonalcoholic steatohepatitis treatment from Ionis Pharmaceuticals Inc. for US$ 30 million. This will assist the company to launch clinical testing for introducing its new product, IONIS-AZ6-2.5-LRx.
Some of the prominent players in the byler disease market profiled by Fact.MR are:
- Merck & Co. Inc.
- Sanofi AG
- Novartis AG
- Bayer AG
- GlaxoSmithKline plc
- AstraZeneca PLC
- Pfizer Inc.
- Bristol-Myers Squibb Company
- Gilead Science Inc.
- and Johnson & Johnson Private Limited
- Others
More Valuable Insights on Byler Disease Market
Fact.MR, in its new report, offers an unbiased analysis of the global byler disease market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in the byler disease market with detailed segmentation:
By Treatment:
- Medical Treatment
- Phenobarbital or Rifampin
- Others
- Surgical Treatment
- Laser surgery
- Cryosurgery
- Laparoscopic surgery
- Others
By End User:
- Research Centers
- Hospitals
- Clinics
- Others
Key Questions Covered in the Byler Disease Market Report
- The report offers insight into byler disease demand outlook for 2021-2031
- The market survey also highlights projected sales growth for the byler disease market between 2021 and 2031
- Byler disease market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Byler disease market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others.
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Source: Fact.MR