16th August 2019 – The global hepatitis
therapeutics market size is expected to value at USD 25.8 billion by
2025, during the forecast period. The market is subject to witness a
substantial growth due to the growing incidences related to the hepatitis
infections, increasing consumption of alcohol in large quantity, and easy
accessibility for treatment and medicines for hepatitis disorder. Some of the
critical factors responsible for driving growth of the market over the forecast
period, are increase in the number of autoimmune disorders, and increase in
medical expenditures by regional governments. One of the major concerns regarding
prevalence of the hepatitis is increasing number of deaths, which are
significantly higher even in comparison with serious diseases such as HIV and
tuberculosis.
Globally, the market is predicted to
grow at CAGR of 2.7% in forecast period, providing numerous opportunity for
market players to invest for research and development in the hepatitis
therapeutics market. Growing occurrence of hepatitis and higher death rate are
major factors driving the need for specialized treatments and medicines, thus propelling
growth of the hepatitis therapeutics market over the forecast period. Hepatitis
majorly occurred due to the inflammation of liver tissue, which is caused
because of the high alcohol consumption, drug abuse, viral infection,
autoimmune diseases, and toxins.
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Hepatitis is commonly bifurcated based
on the time duration. For instance, if initial symptoms of hepatitis last for
less than six months then it is referred as acute hepatitis, else condition is
referred as chronic hepatitis in which symptoms remain active for more than six
to eight months. The viral hepatitis is further classified into A, B, C, D and
E types. Hepatitis B Virus also referred
as HBV and capable of infecting the liver that leads to chronic and acute liver
disorders. HBV is commonly spread via blood and other types of body fluids to
the affected patient. The hepatitis D virus or HDV is dependent on the HBV to
duplicate and multiply itself in the human body. Hepatitis D virus is also
considered as type of a ribonucleic acid virus. The occurrence of hepatitis D
and E is rare in comparison with other type of hepatitis. Hepatitis A virus is
transmitted by the consummation of contaminated water, vegetables, and person
to person contact. As per the world health organization (WHO) as many as ninety
percent of the child above age of ten are disease-ridden majorly due to poor
hygiene and lack of sanitation.
Patients suffering from HIV related
diseases, with hepatitis C virus infected sexual partners, receivers of
contaminated blood, patients with history of the alcohol and drug abuse, and
unhygienic conditions are at high risk of hepatitis. With recent technological
advancements in healthcare infrastructure and improved therapeutic products to
treat hepatitis is one of the critical factor boosting growth of the hepatitis
therapeutics market during the forecast period. Earlier, hepatitis C was
considered as not treatable due to unavailability of reliable medicines, yet,
with advent of the products similar to sovaldi and harvoni, rise in the
treatment rate has been observed.
The market is divided into regional
market segment such as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the
rising in disposable income, and growing awareness in patients for highly
advanced therapeutics for the treatment of hepatitis in the region.
Additionally, adoption of latest methodologies for the treatment of hepatitis,
prevalence of well-established healthcare infrastructure, and reimbursement are
some of the critical factors attributing to the growth of hepatitis
therapeutics market in the region.
Asia-Pacific region is predicted to hold
a major market share in the hepatitis therapeutics market with massive growth
in forecast period. Countries such as India, China and Singapore are leading
the Asia-Pacific market with increasing occurrence of hepatitis diseases, easy
access to medicines and treatment in developing economies, major emphasis on
the healthcare and sanitation by regional governments, and increasing awareness
about the hepatitis vaccination. The key players in the hepatitis therapeutics
market are Gilead Co., Johnson & Johnson Inc., Bristol-Myers Squibb
Company, Merck & Corporations, and AbbVie Incorporations.
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