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Global Hepatitis Drug Market: Market Segments: By Disease Type (Hepatitis A Hepatitis B, and Hepatitis C); By Route of Administration(OralandInjection); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Hepatitis refers to a disease of the liver that is inflammatory. Hepatitis is a medical condition in which the liver is mainly damaged and the digestive system and brain are further compromised in the long run. There are three primary forms of hepatitis: HAV, HBV, and HCV. HCV is a big public health issue where, due to inflammation, the liver gets inflamed. Certain medications, toxins, heavy alcohol use, bacterial and viral infections may cause a hepatitis infection. Identified as hepatitis, viral liver infections include hepatitis A, B, C, D, and E. Hepatitis A is a short-term, acute infection, while hepatitis B, C, and D are most likely to become chronic and permanent. In pregnant women, hepatitis E is typically acute but may be especially severe, increasing maternal and fetal mortality and morbidity.
Global Hepatitis Drug Market to surpass USD 34.81 million by 2030 from USD 18.52 million in 2018 at a CAGR of 5.9% throughout the forecast period, i.e. 2019-30. The worldwide rise in hepatitis prevalence is expected to fuel the growth of the demand for hepatitis drugs. In addition, numerous companies are concentrating on research and development to extend their hepatitis drug treatment portfolio, which is expected to fuel the growth of the hepatitis drug market.
Global Hepatitis Drug Market is segmented by type into hepatitis A, B, C, and others. The greater market share in 2018 was accounted for by the hepatitis C segment and is expected to see the highest growth during the forecast period. A growing number of events involving various forms of hepatitis, including hepatitis B and hepatitis C, play an important role in driving the growth of the demand for hepatitis drugs. Hepatitis is recognized as a leading cause of mortality, while hepatitis C is responsible for around 500,000 deaths per year. The rise in the prevalence of hepatitis has also increased the overall demand for medications to cure and control the disease. Olysio and Sovaldi's second-generation DAAs are the key drivers of the hepatitis drug market. The DAAs of the second generation are more successful and have fewer adverse effects. IFN therapies for the treatment of hepatitis C are currently being established by market players, and this significant emphasis in this segment is expected to fuel the growth of the hepatitis drug market in the future.
Prevalence of Hepatitis Infection
Infection with the hepatitis virus is one of the key global public health risks and is essentially a primary cause for the emergence of hepatic cirrhosis and hepatocellular carcinoma. The increasing number of infected populations increased consumption of alcohol and narcotics, and improved access to medicinal products for hepatitis are also increasing. The launch of generic hepatitis drugs has also changed the nature of the industry around the world. With the rise in people being able to buy generic versions, it is expected that drug use rates will grow dramatically over the next few years.
Increasing participation of market players and government associations
In addition, growing involvement by major players and government associations plays a pivotal role in driving the growth of the hepatitis drug market in the form of promotion and funding. These programs, in turn, promote the advancement of drug treatments, facilitate diagnosis, and provide patients with tailor-made solutions. In addition, factors such as the rise in injection drug users, the rise in awareness, the prevalence of unmet needs, and the anticipated launch of new drugs are expected to drive the growth of the market over the forecast period.
High cost of Hepatitis Drug products
Factors such as longer development and approval periods for hepatitis drugs are expected to impede the growth of the demand for hepatitis drugs. As their production process is labor-intensive and involves costly drug intermediates and active pharmaceutical ingredients, the manufacture of hepatitis drugs is extremely expensive. The high capital requirement for the development and commercialization of medicinal products indicated for the treatment of hepatitis is therefore a key constraint that impedes the growth of the market for hepatitis drugs.
Global Hepatitis Drug Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Hepatitis Drug Market in North America held the largest market share of XX.X% in the year 2018. The comparatively greater affordability of the patient population and knowledge of advanced therapeutics in the area was primarily due to the high demand in the U.S. Some of the main factors leading to this high proportion are the availability of well-developed healthcare facilities, insurance, and access to the most advanced medicines. During the forecast period, the Asia Pacific market is expected to see the fastest growth rate of 5.8 percent. The high burden of disease increased access to drugs, improved healthcare & sanitation, and increased awareness of hepatitis vaccination are expected to positively reinforce the growth prospects in the region.
Global Hepatitis Drug market, which is highly competitive, consists of several major players such as Dynavax Technologies Corporation, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co. Inc., Novartis AG, AbbVie Inc., Gilead Sciences Inc., hold a substantial market share in the Global Hepatitis Drug market. Other players analyzed in this report are Mitsubishi Tanabe Pharma Corporation, GlaxoSmithKline plc, and Bristol-Myers Squibb Company among others
Global Hepatitis Drug Market Segments:
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