Hepatitis C Diagnosis & Treatment Market Size, Demand, Cost Structures

Posted by Vinit on January 11th, 2021

The global hepatitis C diagnosis & treatment market is growing pervasively. The largest market growth attributes to significant advances in hepatitis C (HCV) diagnosis & treatment methods. There have been several new, effective anti-viral medications offering better outcomes and lesser side effects & shorter treatment times emerged over the past few years.

According to Market Research Future (MRFR), the global hepatitis C diagnosis & treatment market is expected to grow at 3.82% CAGR over the forecast period (2019 - 2025). In addition to the prevalence of HCV, other factors contributing to the growth of the market include increasing population and urbanization.

Also, there are a number of clinical trials are underway for testing new treatments, interventions, and tests to prevent, detect, treat, or manage the disease. Besides, many researches to fully understand and address HCV needs are simultaneously achieving significant progress. These factors define the growing landscape of the HCV diagnosis & treatment market.

Moreover, growth in the global economy influences the market growth excellently, enabling access to improved healthcare and quality of life. Additionally, technological advancements in medical science and substantial R & D investments foster innovation & discoveries of medical devices, treatments, and medicines.

In recent years, trends that have emerged include digital or virtual health platforms providing a much-needed alternative to help reduce the enormous stress on the current healthcare system.

Major Players:

Players leading the hepatitis C diagnosis & treatment market include Vertex Pharmaceuticals Incorporated (US), Hoffmann-La Roche Ltd (Switzerland), Gilead Sciences, Inc. (US), GlaxoSmithKline PLC (UK), AbbVie Inc. (US), Novartis Pharmaceuticals Corporation (Switzerland), Abbott (US), Bristol-Myers Squibb Company (US), Beckman Coulter, Inc. (US), MedMira Inc. (Canada), Siemens Medical Solutions USA, Inc. (Germany), DiaSorin SpA (Italy), bioMerieux SA (France), Qiagen (Germany), Bio-Rad Laboratories, Inc. (US), and Hologic, Inc.(US), among others.

Europe stands second in the global hepatitis C diagnosis & treatment market. The market is driven by the resurging economy and penetration of the healthcare sector in the region. The growing awareness about HCV and the rising patient population suffering from the disease, influence the market growth. Increasing funding for research required for discoveries of drugs and therapeutics by the public and private sectors positively impacts market growth. The European hepatitis C diagnosis & treatment market is projected to grow phenomenally from 2019 to 2025.

The Asia Pacific hepatitis C diagnosis & treatment market is emerging as a lucrative market. Moreover, the fastest growing healthcare sector and large unmet needs lead to the growth of the market. Besides, the increasing penetration of healthcare insurance provides impetus to market growth. India and China backed by the vast population, and the availability of affordable treatment & diagnosis methods drives the regional market growth.