The global hepatitis therapeutics market is expected to reach USD 25.8 billion by 2025 according to a new report by Grand View Research, Inc. The key factors driving market growth include the rising number of infected population, growing consumption of alcohol & drugs, increase in global geriatric population, and improvement in access to hepatitis medicines.
Hepatitis is generally classified into two types based on the duration for which the patient suffers. If the condition lasts for less than six months, then it is classified as acute, when the condition persists for more than six months, then it is a case of chronic hepatitis. The population at a greater risk of hepatitis include people with HIV infection & HCV-infected sexual partners, who inject drugs & use intranasal drugs, recipients of infected blood products, and other population groups who live in unhygienic conditions.
According to the WHO, globally around 400 million people are infected with at least one form of hepatitis and every year nearly 1.4 people die due to the condition. Various government and private agencies are actively involved in the vaccination drive to prevent hepatitis. Hepatitis C leads to more serious complications compared to hepatitis A and B. As per WHO estimates, nearly 150 million are impacted by hepatitis C infection globally. Moreover, a significant number of hepatitis C patients develop liver cancer or liver cirrhosis and nearly 700,000 people die due to hepatitis C infection & associated conditions.
Due to very high prevalence of target disease coupled with subsequent increase in the treatment rate Hepatitis C accounted for the majority market share of 75.6% in 2016
In 2016, North America held the largest share of nearly 42.9%. The key factors attributed to the regions high share include high patient awareness levels and the presence of advanced healthcare infrastructure.
Asia Pacific is anticipated to witness the maximum growth with a CAGR of 5.8% over the forecast period. High economic development coupled with rapidly increasing healthcare expenditure are amongst key factors attributing to the regions high growth rate.
Key players include Gilead, Merck & Co. Inc., Johnson & Johnson, Bristol-Myers Squibb Company, and AbbVie Inc.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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