Hepatitis C Treatment Market 2017 Global Industry Key Players, Share, Trend, Applications, Segmentation and Forecast to 2023
According to the latest market report published by Credence Research, Inc. “Hepatitis C Treatment Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global hepatitis C treatment market was valued at US$ 25.02 Bn in 2016, and is expected to reach US$ 65.48 Bn by 2025, expanding at a CAGR of 11.3% from 2017 to 2025.
Hepatitis C is a liver disease caused by the hepatitis C virus causing both acute and chronic hepatitis; approximately 55–85% of hepatitis C affected persons develop chronic HCV infection. For the purpose of the study hepatitis C treatment market is classified on the basis of drug type such as interferons, ribavirin and direct acting antivirals (DAA). Interferons and ribavirin are generally given in combination to increase effectiveness of ribavirin against hepatitis C. It is estimated that DAA class will show highest market growth during forecast period due to safety and effectiveness over previous treatment approach. DAA directly act on the virus by inhibiting certain enzymes and proteins which are necessary for replication of the HCV virus and thus cause fewer side effects. Newly approved medications such as zepatier (elbasvir /grazoprevir), Epclusa (sofosbuvir /velpatasvir), Mavyret (glecaprevir and pibrentasvir) and Vosevi (sofosbuvir, velpatasvir and voxilaprevir) are expected to show significant market growth during forecast period.
It is studied that currently, North America is dominating the global hepatitis C treatment market due to higher investment in drug development, large number of affected population, higher cost of medication, higher treatment awareness and upsurge in funding by the government agencies in healthcare system are major factors that driving the hepatitis C treatment market growth. On the other hand, due to increasing healthcare awareness and developing economic condition Asia Pacific would show significant hepatitis C treatment market growth.
Market Competition Assessment:
The hepatitis C treatment market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as AbbieVie Inc., Bristol-Myers Squibb Company, Gilead Sciences Inc., GlaxoSmith Kline Plc., Janssen Pharmaceuticals Inc., Merck & Co. Inc., F. Hoffmann-La Roche AG, Schering AG, Vertex Pharmaceuticals and other.
Key Market Movements:
– Factors such as presence of strong pipeline molecule, increase in number of target population, improved diagnostic techniques and easy availability of treatment medication are driving the growth of hepatitis C treatment market globally.
– Poor patient compliance to medication in some countries and adverse effects associated with the prolong use of medication is negatively impacting market growth of hepatitis C treatment.
Browse the full report at http://www.credenceresearch.com/report/hepatitis-c-treatment-market