Hepatoprotective Supplement Market Segmented By Plant based and Animal Based Product in Syrup/Tonics, Tablets, Injections Type
Industry: Healthcare
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP32586
According to latest research by Persistence Market Research, Hepatoprotective Supplement market is set to witness steady growth during 2021-2031. Demand for hepatoprotective supplement market will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Side effects like weight gain associated with hepatoprotective drugs will mean limited opportunities in near future.
However, rapid rate of the auto-immune and hepatic diseases will provide momentum to the hepatoprotective supplement market.
Hepatic disease is associated with damage to cells tissues or liver functioning. About 2 billion people consume alcohol worldwide and upwards of 75 million are diagnosed with alcohol-use disorders and are at risk of alcohol-associated liver disease.
Rising focus towards plant based medications among 80% of the population in order to minimize side effects and increasing therapeutic efficiency of medicines is driving the growth of hepatoprotective supplements.
Moreover, changes in lifestyle causes amputation of diseases in human body and may lead to liver dysfunction. Thus, rising geriatric population increases the demand for hepatoprotective supplement. However, government initiatives and favourable reimbursement scenario is to further propel the market growth.
According to World Health Organisation, alcohol consumption contributes to 3 million deaths each year globally as well as to the disabilities and poor health of millions of people. Overall, harmful use of alcohol is responsible for 5.1% of the global burden of disease.
Near about 7.1% harmful use of alcohol is accountable to global burden of disease in all sex ratios and 10% of deaths of those aged 15 to 49 years. Hence, rise in alcohol consumption is one of driving factors for the growth hepatoprotective supplements.
Moreover, COVID 19 pandemic has created a havoc in the world and the side effects associated with it also cause liver damage. The market was likely to be seen at a higher value during the pandemic with a positive trend.
According to data published by Centres for Disease Control and Prevention, by an estimated of 4.5 million adults have been diagnosed with liver disease and 13.5 deaths per 1000,000 population have been occurred in 2018 in US.
Moreover, number of alcoholic liver disease death in US is 24110 in 2019. In U.S., young generation has the habit of drinking and hence they generally consume supplements to keep up their liver health. Therefore, rising consumption of dietary supplements of clients is expected to support the growth in the next years.
For instance, according to the data published by the Council for Responsible Nutrition (CRN) near about 77% of Americans reported consumption of dietary supplements in September 2019.
The market for nutraceuticals products in Europe is witnessing heavy fortification, with a focus on innovation and new products development as well as safety.
Moreover, rising consumption of nutritional products promotes the adoption liver health supplements in Germany and U.K in the forecast period.
European manufacturers develop best products and pharmaceutical opportunities in the region.
For instance, Noreva Biotech in UK develops every medicine is thoroughly prepared at their in-house facility using cutting-edge technologies and made of reliable compositions that will fight against several conditions.
Some of the leading manufacturers and suppliers of Hepatoprotective Supplement include
Many leading manufacturers are focusing on expanding their business through various advancements in technology and mergers and acquisitions which boosts the market growth in the near future.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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