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Hepatitis Therapeutics market Statistics
Hepatitis therapeutics market size was valued at $14,480 Million in 2020 and is projected to reach $19,716 Million by 2030 registering a CAGR of 3.1%
PORTLAND, OREGON, UNITED STATES, July 15, 2022 /EINPresswire.com / -- According to the report published by Allied Market Research, the global hepatitis therapeutics market generated $14.47 billion in 2020, and is anticipated to generate $19.71 billion by 2030, witnessing a CAGR of 3.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Prime determinants of growth
Increase in product approvals and launches, rise in collaborations between major players in the market, and robust presence of pipeline drugs drive the growth of the global hepatitis therapeutics market. However, high cost of hepatitis drugs hinder the market growth. On the other hand, growth opportunities in emerging markets present new opportunities in the coming years.
Growth of the hepatitis therapeutics market is driven by increase in prevalence of hepatitis and its variants. Moreover, rise in R&D activities and clinical trials on novel drug candidates is also expected to boost the hepatitis therapeutics market growth.
Rise in prevalence of hepatitis and its other variants, product approvals and launches are the major factors that boost the growth of the hepatitis therapeutics market. In addition, rise in number of product approvals, are other factors that further drive the growth of the market. However, high cost of the therapy is expected to restrain the growth of the hepatitis therapeutics market. Conversely, growth opportunities in emerging markets are expected to offer lucrative opportunities during the forecast period owing to increase in opportunities in untapped markets due to availability of improved healthcare industry infrastructure.
Covid-19 Scenario
The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global hepatitis therapeutics market.
Patients with hepatitis B have confronted various new difficulties in getting to clinical consideration and treatment because of deferred arrangements and de-prioritization of routine hepatitis.
Some patients experienced issues when diagnosed with COVID-19 and with liver sickness at the same time.
The hepatitis C segment to maintain its leadership status throughout the forecast period
Based on disease type, the hepatitis C segment held the highest market share in 2020, accounting for nearly three-fifths of the global hepatitis therapeutics market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 3.5% from 2021 to 2030, owing to growing prevalence of hepatitis C globally and due to new drug launches. The report also includes hepatitis B.
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The oral antivirals segment to maintain its lead position during the forecast period
Based on drug class, the oral antivirals segment accounted for the largest share in 2020, contributing to 88% of the global hepatitis therapeutics market, and is projected to maintain its lead position during the forecast period. This is due to increase in demand of novel drugs and approval of new drugs. However, the immune modulators segment is expected to portray the largest CAGR of 4.2% from 2021 to 2030.
Asia-Pacific is projected to account for a fastest growth of the global hepatitis therapeutics market with CAGR of 4.3% during the forecast period. The market in the region is anticipated to grow in the future, owing to rise in prevalence of acute and chronic hepatitis, increase in approvals and launching of new hepatitis drugs, and rise in patient awareness toward applications of hepatitis therapeutics in the region
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global hepatitis therapeutics market. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 4.3% during the forecast period, owing to rise in investments in growth in R&D activities and geographic expansion of hepatitis therapeutics companies in this region.
Leading Market Players
Abbvie Inc.
Bristol Myers & Squibb
Cipla Inc.
Gilead Sciences Inc.
GlaxoSmithKline Plc.
Hoffmann-La Roche Ltd.
Lupin Ltd.
Merck & Co. Inc.
Teva Pharmaceutical Industries Ltd.
Zydus Cadila.
We also Offers Regional and Country Reports-
Japan Hepatitis Therapeutics Market
South Korea Hepatitis Therapeutics Market
Singapore Hepatitis Therapeutics Market
China Hepatitis Therapeutics Market
Indonesia Hepatitis Therapeutics Market
Australia Hepatitis Therapeutics Market
Taiwan Hepatitis Therapeutics Market
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
David Correa
Allied Analytics LLP
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