Hepatitis Therapeutics Market: Increase in Prevalence of Viral Hepatitis Drives 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.
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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.
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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.
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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.
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