by Hepatitis Therapeutics Market – Outline
Hepatitis is defined as the inflammation of liver. The most common forms of hepatitis are hepatitis A, B, and C. According to the statistics by the World Health Organization (WHO), nearly 325 million people are living with hepatitis infections across the globe. These statistics highlight the growing prevalence of hepatitis around the world. The need for reducing the burden on healthcare sectors due to hepatitis is pushing the demand for hepatitis therapeutics extensively, which in turn, is estimated to work as growth accelerators for the hepatitis therapeutics market.
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The growing alcohol and drugs consumption coupled with sizeable population groups living in unhygienic conditions are resulting into increased cases of hepatitis infection. Therefore, the hepatitis therapeutics market is estimated to observe exponential growth on the basis of these factors. The growing awareness about the importance of hepatitis eradication among various countries and global organizations will serve as a key factor for the growth of the hepatitis therapeutics market. For instance, the WHO, in 2016 provided a guideline for viral hepatitis elimination by 2030. Furthermore, different initiatives such as the World Hepatitis Day are helping government bodies to spread awareness about hepatitis. Such initiatives serve as growth accelerators for the hepatitis therapeutics market.
Companies are investing in R&D projects in order to develop novel technologies. This factor is prognosticated to contribute to the growth of the hepatitis therapeutics market. Moreover, players are involving in mergers, acquisitions, joint ventures, and partnerships for expansion initiatives. All these aspects eventually help in increasing the growth rate of the hepatitis therapeutics market. Many countries are focusing on improving their healthcare policies to provide quality treatment to its citizens. Favorable reimbursement policies by government bodies of numerous countries are projected to serve as growth propellers for the hepatitis therapeutics market.
Global Hepatitis Therapeutics Market – snapshot
Hepatitis is the inflammation of the liver caused due to a viral infection. Hepatitis is one of the leading causes for health care burden in developed as well as developing countries. As per the WHO, around 1.75 million new HCV infections occur each year, and approximately 399,400 deaths were caused due to HCV in 2015. Increase in the usage of unsterilized equipment and infected syringes, medication errors, and transfusion of infectious blood are leading to an increase in the incidence of viral diseases such as Hepatitis C. This, in turn, is likely to fuel demand for hepatitis therapeutics across the globe. The global hepatitis therapeutics market was valued at US$ 22,049.2 Mn in 2017. It is projected to expand at a CAGR of 2.3% from 2018 to 2026.
hepatitis therapeutics market
The global hepatitis therapeutics market has been segmented based on disease type, drug class, distribution channel, and region. In terms of disease type, the global market has been categorized into hepatitis A, hepatitis B, hepatitis C, and others. The hepatitis C segment is anticipated to account for a major share of the market over the forecast period, owing to a high incidence rate of hepatitis C across the globe. Based on drug class, the global hepatitis therapeutics market has been classified into NS5A inhibitors, nucleotide analog reverse transcriptase inhibitors, nucleotide analog NS5B polymerase inhibitors, multi-class combination, interferon & ribavirin, and others. In terms of distribution channel, the global market has been divided into hospital pharmacies, retail pharmacies, and others.
In terms of region, the global hepatitis therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global market in 2017. Rise in the incidence of and mortality caused due to hepatitis and increased spending on drugs for the treatment of hepatitis in the U.S. are likely to boost the hepatitis therapeutics market in the region. Europe is anticipated to account for a significant share of the global market between 2018 and 2026. The presence of well-established infrastructure, rise in demand for hepatitis drugs for the early treatment of the disease, and high viraemic prevalence in Eastern Europe are expected to fuel the growth of the market in the region during the forecast period. The market in Asia Pacific is likely to expand at a significant CAGR during the forecast period. Increasing prevalence of chronic hepatitis C in developing countries such as China and India and favorable government initiatives for creating awareness about hepatitis are projected to propel the market in the region in the next few years.
Key players operating in the global hepatitis therapeutics market include Gilead Sciences, Inc., Bristol Myers Squibb, F. Hoffmann-La Roche, Ltd., Merck & Co., Inc., LAURUS Labs, Zydus Cadila, AbbVie Inc., Cipla, Inc., Hetero Healthcare Limited, and NATCO Pharma Limited. These companies focus on developing novel drugs for the effective treatment of chronic hepatitis to enhance market foothold.
Novel Drug Formulations and Heightening Cases of Hepatitis to Accelerate the Growth Opportunities across the Hepatitis Therapeutics Market
The hepatitis therapeutics market is anticipated to observe considerable growth across the assessment period of 2018-2026. The growing number of hepatitis infected patients and the extensive consumption of alcohol and drugs in increasing the growth opportunities during the forecast period.
Hepatitis is a condition that causes inflammation of the liver. It mainly occurs due to high consumption of alcohol or drugs. In most cases, it is generally caused due to a virus known as viral hepatitis. The therapeutics related to hepatitis are known as hepatitis therapeutics. Novel formulations and an increase in the demand for drugs treating hepatitis will bring tremendous growth opportunities for the hepatitis therapeutics market.
Research and development activities play a major role in the growth of the hepatitis therapeutics market. The players invest heavily in these activities for developing novel formulations that assist in treating hepatitis at a faster rate. These factors help in increasing the revenues of the players in the hepatitis therapeutics market.
Strategic collaborations also play a crucial role in the growth of the hepatitis therapeutics market. The players indulge in activities such as mergers, acquisitions, joint ventures, and partnerships for increasing their foothold across the hepatitis therapeutics market, eventually boosting the growth rate.
Favorable reimbursement policies in various regions and an increase in the spending of the government bodies of numerous countries on healthcare infrastructure will prove to be a vital growth generator for the hepatitis therapeutics market.
The COVID-19 pandemic has caused distress across the globe. Many livelihoods and businesses are affected by the virus extensively. The hepatitis therapeutics market is negligibly impacted due to the outbreak as drugs and pharmacies come under the essential services and are exempt from the lockdown restrictions. However, supply chain and logistics disruptions during the strict lockdown had a minimal impact on the growth prospects.
The global hepatitis therapeutics market has been segmented as below:
Disease
- Hepatitis A
- Hepatitis B
- Hepatitis C
- Others
Drug Class
- Nucleotide Analog Reverse Transcriptase Inhibitor
- NS5A Inhibitor
- Multi Class Combination
- Nucleotide Analog NS5B Polymerase Inhibitor
- Interferon & Ribavirin
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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