Hepatorenal Syndrome Treatment Global Market Report 2023
Major players in the hepatorenal syndrome treatment market are Becton, Dickinson and Company, BioVie Inc., Cumberland Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals, Orphan Therapeutics LLC., ESP Pharma Inc.
New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hepatorenal Syndrome Treatment Global Market Report 2023" - https://www.reportlinker.com/p06479876/?utm_source=GNW
, PharmaIN Corporation, Baxter International Inc., La Jolla Pharmaceutical Company, Noorik Biopharmaceuticals AG, Novartis AG, Zydus Lifesciences limited, Mount Sinai, NYU Langone Health, and Max Healthcare.
The global hepatorenal syndrome treatment market is expected to grow from $13.06 billion in 2022 to $13.85 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hepatorenal syndrome treatment market is expected to reach $17.31 billion in 2027 at a CAGR of 5.7%.
The hepatorenal syndrome treatment market includes revenues earned by providing imaging, blood, and urine tests to evaluate the patient’s liver and kidney function.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Hepatorenal syndrome (HRS) is a multiorgan disorder characterized by acute kidney injury in patients with severe liver disease. Patients with this syndrome display signs and symptoms of liver failure in addition to decreased urination when they become oliguric.
North America was the largest region in the hepatorenal syndrome 6reatment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in hepatorenal syndrome treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of hepatorenal syndrome treatment include type 1 hepatorenal syndrome and type 2 hepatorenal syndrome.Type 2 hepatorenal syndrome is distinguished by a moderate and steady decline in glomerular filtration rate, and it frequently affects people whose liver function is still mostly intact.
They are treated by providing therapeutics and surgical treatment for use in various end-users such as hospitals and clinics, ambulatory surgical centers, academic and research institutes and others.
An increase in the incidences of patients with liver damage or cirrhosis is expected to propel the growth of the hepatorenal syndrome treatment market going forward.Cirrhosis is a severe form of liver disease in which scar tissue permanently replaces good liver tissue.
Hepatorenal syndrome treatment aims to retain the patient’s kidney function while alleviating symptoms and adverse effects of the disorder.These strategies may help to improve overall health and make you a better candidate for liver transplant surgery.
For instance, in September 2022, according to a Fact Sheet published by the Centers for Disease Control and Prevention, a US-based Government agency, the number of adults with diagnosed liver disease in the US was 4.5 million. Moreover, according to Medscape, a website providing access to medical information, states ALD-related fatalities increased by 17.6% between 2019 and 2021, whereas NAFLD-related deaths climbed by 14.5%. Therefore, the increase in the incidences of patients with liver damage or cirrhosis is driving the growth of the hepatorenal syndrome treatment market.
Increasing research and development activities for hepatorenal syndrome treatment is a key trend gaining popularity in the hepatorenal syndrome treatment market.Companies operating in the hepatorenal syndrome treatment market are now focusing more on research and development to sustain their position in the market.
For instance, in September 2022, Mallinckrodt Pharmaceuticals, an Ireland-based company specializing in developing, manufacturing, and distributing specialty products and therapies, announced the FDA approval for Terlivaz for an injection that helps adults with hepatorenal syndrome’s kidney function. The Phase 3 CONFIRM trial, the largest-ever prospective research (n=300) done to evaluate the safety and efficacy of terlipressin in patients with HRS type 1 (HRS-1) in the U.S. and Canada, was a significant factor in the FDA’s approval. Verified HRS Reversal, measured as an improvement in renal function, avoiding the need for dialysis, and short-term survival, was achieved by the CONFIRM trial’s primary endpoint (p=0.012).
An increase in healthcare spending is expected to propel the growth of the hepatorenal syndrome treatment market going forward.Healthcare spending is the total amount spent on healthcare throughout all sectors of an economy, including hospitals, home health services, prescription pharmaceuticals, nursing homes, and individual healthcare.
As healthcare spending rises, more funding may be given to research and development of novel, more potent HRS treatments.Increased spending may also result in greater availability of tools for HRS screening and early detection, which could lead to earlier treatment and better results.
For instance, in February 2023, according to an article published by U.S. Centers for Medicare & Medicaid Services, the amount spent on national healthcare (NHE) increased by 2.7% to $4.3 trillion in 2021, or $12,914 per person, and represented 18.3% of the GDP. Spending on Medicare increased by 8.4% to $900.8 billion in 2021, or 21% of all NHE. Spending on Medicaid increased by 9.2% to $734.0 billion in 2021, or 17% of all NHE. Therefore, the increase in healthcare spending is driving the growth of the hepatorenal syndrome treatment market.
The countries covered in the hepatorenal syndrome treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products.
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