Hepatitis Therapeutics Market is projected to expand at a high CAGR of 2.3% from
Posted by ankushraoaniket1tmr on May 16th, 2019
Transparency Market Research (TMR) has published a new report titled ‘Hepatitis Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global hepatitis therapeutics market was valued at US$ 22,049.2 Mn in 2017 and is projected to expand at a CAGR of 2.3% during forecast period from 2018 to 2026. The global market is anticipated to be driven by a rise in viraemic prevalence, promising pipeline of hepatitis drugs, and supportive government initiatives encouraging patients in the adoption of hepatitis drugs. The hepatitis therapeutics market in Asia Pacific is expected to expand at a high CAGR of 3.0%, due to a high incidence of hepatitis in emerging countries such as India and China and presence of local players providing a wide range of generic hepatitis drugs in the region.
Increase in Prevalence of Viral Hepatitis Drives Market
Hepatitis is a significant public health concern across the globe. According to the World Health Organization (WHO), in 2015, approximately, 257 million people globally, or 3.5% of the population, were living with chronic hepatitis B infections. Rise in the consumption of alcohol, infections from contaminated blood sources, and increase in the number of autoimmune diseases are leading to a rise in the cases of inflammation of the liver. Viral hepatitis is an important source of morbidity and mortality globally. As per WHO estimates, viral hepatitis caused 1.34 million deaths in 2015, a number higher than the deaths caused by HIV. Additionally, mortality associated with viral hepatitis has increased by 22% since 2000, and the number is further expected to increase over the next few years. Hence, these factors are likely to boost demand for hepatitis therapeutics over the forecast period.
Hepatitis C Segment Dominated the Market
In terms of disease type, the global hepatitis therapeutics market has been classified into hepatitis A, hepatitis B, hepatitis C, and others. The hepatitis C segment is projected to account for a leading share of the global market during the forecast period, owing to the high prevalence of hepatitis C in developing and developed regions and availability of effective drug regimens in the market. According to the World Health Organization (WHO), approximately 71 million people were infected with chronic hepatitis C in 2017. Hepatitis C increases the risk of liver cirrhosis and is the leading cause of liver transplant in North America and Europe. Development of advanced therapeutics by leading industry players for the effective management of disease is expected to pave the way for the hepatitis C segment over the coming years. The hepatitis B segment is projected to expand at a rapid pace over the forecast period, owing to a high mortality rate associated with hepatitis B.
Multi-class Combination to be the Most Promising Segment to Invest in
Based on drug class, the global hepatitis therapeutics market has been segmented into NS5A inhibitors, nucleotide analog reverse transcriptase inhibitors, multi-class combination, nucleotide analog NS5B polymerase inhibitors, interferon & ribavirin, and others. The multi-class combination segment is projected to expand at a high CAGR during the forecast period, owing to an increase in viraemic prevalence worldwide. Industry players are focused on developing combinational therapy as it is highly effective and has fewer side-effects compared to a single regimen for the treatment of hepatitis C. Mavyret and Epclusa are some of the combinational therapeutics recently approved by the U.S. FDA.
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Asia Pacific Market to Witness Strong Growth and Create High Incremental Opportunity
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 is anticipated to account for a leading share of the global market during the forecast period, owing to high awareness and access to advanced hepatitis therapeutics and high affordability of patients in the region. The hepatitis therapeutics market in Europe is expected to expand at a substantial rate between 2018 and 2026. The market in Asia Pacific is likely to expand at a rapid pace in the next few years. This is attributed to a growing patient population, increasing penetration of global manufacturers, and rising government initiatives to promote disease awareness in the region. The hepatitis therapeutics market in Latin America and Middle East & Africa is anticipated to expand at a steady pace from 2018 to 2026.Also See: Therapeutics Market, Hepatitis Therapeutics, Hepatitis C, Forecast Period, Therapeutics, Market, HighTop Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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