UK’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.
In the United Kingdom, the primary causes of liver diseases include alcohol, obesity, and viral hepatitis. Furthermore, about 1,000 liver transplants are performed each year, and due to insufficient liver donors, people are dependent on the therapeutics available in the market. All the aforementioned factors are thus expected to drive the market’s growth. Factors like increasing reimbursement policies for liver diseases, the government, and other organizations bringing awareness in public by conducting liver disease programs have acted as a catalyst for the growth of this market.
Market Driving and Restraining Factors
The driving factors for the growth of the liver disease therapeutics market in UK includes the excess intake of over-the-counter high dosage drugs, reimbursement policies for liver diseases in the healthcare sector, government, and other private organizations bring out the awareness by organizing programs regarding liver disease treatment which propels the market during the analysis period.
Growth in the liver disease therapeutics market can also be further attributed to various technological advancements in the imaging techniques, Y-O-Y increase in the patients diagnosing with the liver disease and 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.
Strict regulations in approving the new drugs, and high costs required for the development of new drugs, and the high costs associated with the treatment for liver diseases are expected to hamper the market growth to a specific limit.