The Hepatitis Drugs Market to Grow at a CAGR of 15.0% During the Forecast Period 2017-2023 to Aggregate $78.67 Billion by 2023
Factors such as rise in injection drug users, increase in awareness, presence of unmet need, and anticipated launch of new drugs are expected to drive the market growth during the forecast period.
Bengalore, India, April 11, 2017 (Newswire.com) - Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global Hepatitis Drugs Market – Drivers, Opportunities, Trends, and Forecasts: 2017–2023”.
According to Infoholic Research, the advent of interferon-free combination regimens and DAAs will boost the growth of the Hepatitis Drugs market in the coming years. Superior efficacy of this treatment regimen will, in turn, increase the drug uptake and fueling market growth. In spite of multiple recent launches, a significant unmet need still exists in the global hepatitis drugs market, representing as another major market driving factor.
Expansion in the birth population increases the need for therapeutic vaccines in cases of cirrhosis, liver disease, primary liver cancer, and HCC. The anticipated launch of new drugs, especially for the subtypes B and C would also drive the market. According to Infoholic Research, the “Global Hepatitis Drugs” market is expected to grow at a CAGR of 15.0% during the forecast period 2017–2023 to touch an aggregate of $78.67 billion by 2023.
"Hepatitis drug's prices are still too high and unaffordable for the treatment of many patients, especially in the developing countries. However, manufacturing costs of DAAs are estimated to be far lower than the current prices. Moreover, generic competition from multiple manufacturers is already indicating a downward trend for the prices of sofosbuvir, which should enable low-cost access to quality-assured generic versions of these drugs."
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The Global Hepatitis Drugs market is analyzed based on two segments – condition types and regions. The regions covered in the report are the Americas, Europe, Asia Pacific, and Rest of the World (RoW). In the Americas region, the US and Canada are set to be the leading countries. Europe is set to be the second leading region and holds more than 34% of the market share in 2015. Germany is one of the leading countries in Europe in terms of revenue. In Asia Pacific, India is one of the most attractive countries for the players and holds huge business opportunities. The RoW is set to be an emerging market in the next 5–6 years.
The application areas covered in the report are Hepatitis A, Hepatitis B, Hepatitis C, Hepatitis D, Hepatitis E, Hepatitis F, and Hepatitis G. HAV and HBV drugs segments are expected to gain more market share by 2023. Low healthcare access, especially in the developing countries, represents the major challenge the growth of hepatitis A market. The pipeline for hepatitis B is quite robust with multiple new drugs across various stages of clinical development. HCV drugs segment comprised of more than 84% of the global market share in 2016. The market is expected to be a positive year on year growth rate as HBV and HAV drugs segments have just started to see wide-scale adoption in the field of hepatitis treatment.
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“Hepatitis drug’s prices are still too high and unaffordable for the treatment of many patients, especially in the developing countries. However, manufacturing costs of DAAs are estimated to be far lower than the current prices. Moreover, generic competition from multiple manufacturers is already indicating a downward trend for the prices of sofosbuvir, which should enable low-cost access to quality-assured generic versions of these drugs,” said Victor Mukherjee, Assistant Manager (Research – Healthcare) at Infoholic Research
Further, the report also aims to cover the below points:
Provides an in-depth analysis of the key business opportunities in countries and verticals
Provides the complete details about the various types of hepatitis drugs overview
Provides the complete details of trending top 16 hepatitis drugs
Provides the complete details about the analysis of top 15 players
Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies
Source: Infoholic Research LLP
Tags: drugs, global hepatitis drugs market analysis, global hepatitis drugs market research, global hepatitis drugs market segment, global hepatitis drugs market trend, hepatitis, hepatitis drugs market, hepatitis drugs research