Zion Market Research has published a new report titled “Hepatitis C Drug Market for Hospitals, Private labs, Physician offices, Public health labs and Blood banks - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022.” According to the report, the global Hepatitis C drug market accounted for around USD 13.50 billion in 2016 and is expected to reach approximately USD 33.50 by 2022, growing at a CAGR of around 16.0% between 2017 and 2022.
Hepatitis C is a serious liver disease that is caused as a result of infection with the hepatitis C virus. From a long time, hepatitis C has been called a silent disease because people can get infected and not know it for years. Some people who get infected with hepatitis C virus are able to clear or get rid of the virus, but most people who get infected develop a chronic, or lifelong, infection. Over time, chronic hepatitis C can cause serious health problems including liver damage, liver failure, and even liver cancer.
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Globally, hepatitis C drug market has been accelerated due to the continuous rise in the percentage of hepatitis C infections among individuals. Furthermore, lack of awareness is considered as a major key factor which is expected to promote the growth of hepatitis C drug market. Moreover, many lifestyle-related factors, such as unprotected sex, unhygienic precautions by the medical institution can also promote the hepatitis C infection. In addition, rising government funding coupled with a smaller period of treatment are likely to fuel the growth of hepatitis C drug market. However, the high cost of drugs coupled with threat-related to regulation and development of the drug is a key restraining factor for the growth of hepatitis C drug market. Nonetheless, ongoing research and upcoming new efficient therapies are expected to bring growth avenues in nearby future.
On the basis of end-users, hepatitis C drug market is segmented into five types: hospitals, private labs, physician offices, public health labs and blood banks. These segments are the key end-users of hepatitis C drug market. Among all, hospital and labs are the major segments and are expected to be the fastest growing applications in forthcoming years.
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On the basis of geographical regions, the global hepatitis C drug market is segmented into five regions which include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. These regions are further sub-segmented into the U.S., U.K., Germany, France, China, Japan, India, and Brazil. North America was the largest regional market for hepatitis C drugs in 2016. In this region, the U.S. was the largest revenue contributor for global hepatitis C drug market. Further, it is expected to continue this trend during near future owing to ongoing research and development in pharmaceutical industry. Europe was the second largest market for hepatitis C drugs. Further, demand for hepatitis C drug is increasing in Asia-Pacific, Latin America and Middle East & Africa region due to the prevalence of the disease in these regions coupled with increasing expenditure on healthcare infrastructure over the years to come.
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Major key players in the global hepatitis C drug market includes Merck & Co, Kenilworth, Roche, Basel GlaxoSmith, Gilead Sciences, AbbVie, Johnson & Johnson and Bristol-Myers Squibb.
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