The global alcoholic hepatitis therapeutics market size surpassed US$ 623.5 Mn in 2019 and to reach US$ 1.1 billion by 2027 with a CAGR of 6.1% from 2020 to 2027.
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.
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.
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.
Hospital Pharmacies to be Major Distribution Channel
In terms of distribution channel, the global alcoholic hepatitis therapeutics market has been classified into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment led the global alcoholic hepatitis therapeutics market in terms of revenue in 2019. The trend is expected to continue during the forecast period. Rapid increase in the number of hospitals and a wide range of services available in multispecialty hospitals are likely to boost the segment during the forecast period. Rise in the number of patients opting for retail pharmacies, due to a large number of product brands available at discounted prices at these pharmacies, is estimated to drive the retail pharmacies segment during the forecast period.
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.
The alcoholic hepatitis therapeutics market in Asia Pacific is anticipated to expand at a fast-paced CAGR from 2020 to 2030. This can be ascribed to the presence of developing economies with commercial hubs, expanding business organizations, growing awareness about alcoholic hepatitis, improving health care infrastructure, and rising investments by companies in their technical aspects.
Competition Landscape
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.
Alcoholic Hepatitis Therapeutics Market: Segmentation
Scope of the Report
VRR’s report on the global alcoholic hepatitis therapeutics market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators for the market during the forecast period from 2020 to 2030. The report provides revenue of the global alcoholic hepatitis therapeutics market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global alcoholic hepatitis therapeutics market from 2020 to 2030.
The report is prepared after an extensive research. Primary research involves bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involved reaching out to key players’ product literature, annual reports, press releases, and relevant documents to understand the alcoholic hepatitis therapeutics market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the alcoholic hepatitis therapeutics market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the global alcoholic hepatitis therapeutics market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global alcoholic hepatitis therapeutics market.
The report delves into the competition landscape of the global alcoholic hepatitis therapeutics market. Key players operating in the global alcoholic hepatitis therapeutics market are identified and each one of these is profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global alcoholic hepatitis therapeutics market profiled in this report.
Key Questions Answered in Alcoholic Hepatitis Therapeutics Market Report
Research Objectives and Research Approach
The comprehensive report on the global alcoholic hepatitis therapeutics market begins with an overview, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global alcoholic hepatitis therapeutics market in terms of treatment, application, distribution channel, and region. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2030 has also been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global alcoholic hepatitis therapeutics market.
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