Hepatitis C Treatment Market to Exceed US$ 71.13 Bn by the end of 2024
Persistence Market Research (PMR) delivers key insights on the global hepatitis C treatment market in its latest report titled “Hepatitis C Treatment Market: Global Industry Analysis and Forecast, 2016–2024”. The global hepatitis C treatment market was valued at US$ 23.9 Bn in 2015 and is estimated to be valued at US$ 26.6 Bn by 2016. The market is expected to reach a valuation of US$ 71.13 Bn by the end of 2024, reflecting a CAGR of 13.1% over the forecast period.
Growth of the global hepatitis C treatment market is primarily driven by factors such as increase in the prevalence of hepatitis C infections in the U.S. and Canada and rising per capita healthcare expenditure across the globe. Also government initiatives to control infection and various private NGOs creating awareness about treatment is also fueling the market growth. However, high cost associated with hepatitis C treatment drugs and lack of awareness about hepatitis C infection in the regions of Asia Pacific, Middle East and Africa, and Latin America is expected to impede growth of the global hepatitis C treatment market.
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By drug class, the market is segmented into HCV Protease Inhibitors, HCV Polymerase Inhibitors, HCV NS5A Inhibitors, Combination Therapy and Interferon & Antiviral which is again sub-divided into various drugs sub segments. The combination segment is expected to contribute a maximum share to the global hepatitis C treatment market and register the fastest CAGR of 13.9% during the forecast period. By distribution channel, the market is segmented into Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. Among these, the hospital pharmacies segment is anticipated to be dominant throughout the forecast period and is projected to account for about 43.7% share of the total global hepatitis C treatment market revenue by 2024. The hospital pharmacies segment is anticipated to emerge as the most attractive segment in the global hepatitis C treatment market owing to growing instances of hospitalization and improved accessibility and services. The online pharmacies segment is expected to register the fastest CAGR during the forecast period and is estimated to create absolute $ opportunity of US$ 713.8 Mn in 2017 over 2016. The online pharmacies segment is expected to witness significant growth during the forecast period and this can be attributed to high availability of hepatitis C treatment drugs and discounts provided by online pharmacies.
This report covers global and regional trends along with an analysis of the market potential. North America is estimated to account for 45% share in the global hepatitis C treatment market by 2016, whereas Asia Pacific is projected to grow at a healthy CAGR of 14.8% due to increasing awareness about hepatitis C infections. Europe region is expected to account for 19.6% share in the global hepatitis C treatment market by 2016 end. Latin America was valued at US$ 2,915.8 Mn in 2015 and is estimated to reach US$ 3,311.1 Mn by 2016, with a Y-o-Y growth of 13.6% over 2015–2016. The Middle East and Africa region was valued at US$ 1,792.5 Mn in 2015 and is estimated to reach US$ 1,988.1 Mn by 2016.
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The global hepatitis C treatment market report features some of the top companies dominating in the global market. Key market players analyzed in the report include Merck & Co., Inc., Bristol-Myers Squibb Company, AbbVie Inc., Gilead Sciences, Inc., Kadmon Holdings, Inc., Johnson & Johnson, F Hoffmann-La Roche Ltd, and Merck & Co., Inc.