Fact.MR – A Market Research and Competitive Intelligence Provider: According to a new study conducted by Fact.MR, the global byler disease market is expected to develop at a positive rate from 2021 to 2031.
Increasing Prevalence of Liver Diseases to Spur the Growth of Byler Disease Market
The market research study 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 a new study conducted by Fact.MR, the global byler disease market is expected to develop at a positive rate from 2021 to 2031. The growing frequency of hereditary diseases such as progressive familial intrahepatic cholestasis (PFIC) and biliary disorders around the world is driving the market.
The prevalence of liver illnesses such as hemochromatosis, liver cancer, hepatitis, liver cirrhosis, and others has been steadily rising in recent years. In 2018, nearly 4.5 million people in the United States were diagnosed with liver illnesses, according to a report from the Centers for Disease Control and Prevention. It also indicates that the annual burden of liver illnesses is increasing by 9.9%.
As a result, the market for byler illness is expected to benefit from the demand to reduce the occurrence of these diseases. In addition, a number of industry participants have expressed strong interest in the development of novel therapies for the treatment of byler illness, such as phenobarbital, rifampin, and others. During the forecast period, their efforts are expected to propel the market forward.
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The enormous epidemic of COVID-19, on the other hand, has slowed market expansion. Fears about getting the new coronavirus have led to a decrease in hospital visits. This has a detrimental impact on the byler illness market as well.
Nonetheless, market growth would be aided in the next years by the increasing availability of biosimilar medications and the implementation of government and non-government awareness campaigns aimed at raising knowledge about various liver disorders.
“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
- Due to the high prevalence of chronic disease and the availability of current technology for the treatment of rare diseases, the United States is expected to account for the lion’s share in North America.
- The market in the United Kingdom is expected to grow rapidly during the forecast period, owing to the government’s funding for research and development efforts. • China is expected to emerge as a profitable market for byler disease, owing to the country’s growing patient pool of liver disorders.
- Due to the increased deployment of novel surgical equipment such as cryo and laser devices in the country, India is expected to contribute a significant revenue share in the Asia Pacific market.
- Hospitals are expected to generate the biggest revenue share in the market based on end user, owing to the availability of technologically advanced medical devices for improved patient care.
Key Drivers
- Growing alcohol usage and bad dietary habits may have an impact on liver health. As a result, these factors will drive the market.
- The global increase in incidence of liver diseases is fueling the expansion of the byler disease market.
Key Restraints
- The high expense of diagnosing and treating liver diseases is stifling the market for byler disease.
- Market expansion is being hampered by a lack of understanding of rare hereditary diseases such as Byler disease.
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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
- 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