Canada’s Liver Disease Therapeutics market size stood at around USD XX.X billion in 2019 and is projected to reach USD XX.X billion by 2028, exhibiting a CAGR of xx% during the forecast period.
It is estimated that one in 10 Canadians, or more than three million people, has some form of liver disease. The most common forms of liver disease in Canada are aviral hepatitis, fatty liver disease, and liver cancer, if there is no effective intervention the increase in death rates from these diseases and their complications will be continuing to climb. In Canada, Viral hepatitis is much more common than HIV infection. Data from Statistics Canada shows an increase in chronic liver disease deaths and an increase in deaths from liver cancer. Predictions are that viral hepatitis-related mortality will continue to increase beyond 2020, and the death rate from liver cancer related to hepatitis B alone will increase by about 50%. There are also predictions of increases in death from hepatitis C.
The driving factors for the growth of the liver disease therapeutics market in Canada include high prevalence of liver diseases, excess intake of over-the-counter high dosage drugs, government and other private organizations bringing out the awareness by organizing programs regarding liver disease treatment. The increase in the percentage of the aged population diagnosing liver-related diseases is primarily driving the growth of the Canadian liver disease therapeutics market. Growth in the liver disease therapeutics market can also be further attributed to various technological advancements in imaging techniques, Y-O-Y increase in the patients diagnosing with liver disease, an increasing number of mergers and acquisitions that are happening between the companies. The license expiration of a few drugs and robust pipeline drugs for the treatment of liver diseases is adding fuel to the market.