Hepatitis C Market is Expected to Drive Growth at 14.2% By 2032
According to Precedence Research, the global hepatitis C market is expected to drive growth at a compound annual growth rate (CAGR) of 14.2% during the forecast period 2023 to 2032.
Ottawa, June 13, 2023 (GLOBE NEWSWIRE) -- Latest Research Study on “*Hepatitis C Market* (By Drug Class: HCV Protease Inhibitors, HCV Polymerase Inhibitors, HCV NSSA Inhibitors, Combination Therapy, Interferon and Antiviral, Peginterferon alfa 2a, Peginterferon alfa 2b, Ribavirin, Others; By Distribution Channel: Hospital & Retail Pharmacies, Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032”.Hepatitis is a viral illness that causes liver inflammation. Hepatitis is brought on by a number of viruses, including virus A, viral B, virus C, virus D, virus E, and virus G. The inflammation brought on by the virus in the liver's tissues can lead to cancer and liver cirrhosis. The infection impairs the operation of the liver and harms other bodily systems. Hepatitis can be either acute or persistent. The deadliest and most challenging to treat are hepatitis B and C. Incidences of hepatitis infection are increasing because of rising alcohol and drug use as well as big populations residing in unhygienic environments.
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*Regional snapshots*
Hepatitis C is the most common infection, with North America leading the market, followed by Europe and Asia-Pacific. In 2022, the North American market brought in the most money, largely because of the region's high awareness of cutting-edge treatments and the U.S.'s robust desire for the goods. The availability of a highly developed healthcare infrastructure, reimbursement, and access to the most cutting-edge medications are some of the important factors affecting the high share. The Asia Pacific area is also anticipated to gain from the rising demand for generic medications. Seven Indian manufacturers have been given approval by Gilead to export some of the hepatitis medications to different countries. In the countries covered by this deal, more than half of those with HCV infection reside.
*Report highlights*
· A third of hepatitis C patients experience liver cirrhosis, and some go on to acquire liver cancer or liver failure in the future. In the United States, hepatitis C is a major factor in liver illness. Hepatitis C is currently treated with a combination medication that includes alpha interferon and ribavirin and is given for six to twelve months. Ribavirin is a brand name for a sublingual antiviral drug. Interferon has a lengthy list of unfavorable side effects and must be administered intravenously (three times per week). It is both an immune system booster and an antiviral.
· Furthermore, the hospital & retail pharmacies sector is predicted to have the highest income in 2022 and to dominate the market throughout the projection period. The significant market share can be attributed to the numerous patients who seek Hepatitis C diagnosis and treatment immediately at the hospital.
· In 2022, consumables were the dominant product category, holding 47% of the market share, and are expected to maintain a strong position in the forecast years.
· Mammalian cells had the highest revenue share of 58.8% in 2022 and are expected to continue dominating due to their popularity in producing complex protein therapeutics.
· With an increase in approved biopharmaceutical products in recent years, the biopharmaceutical sector held the highest revenue share of 22.9% in 2022.
· The biotechnology and biopharmaceutical sector held the largest share in 2022 at 48% and is expected to continue growing rapidly due to the potential of cell-based therapeutics in healthcare.
· In 2022, North America held the largest portion at 43.5%, and is expected to maintain its leadership position due to increased government funding for stem cell production and regenerative medicine and cellular therapy products.
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*Coverage* *Details*
CAGR 14.2% from 2023 to 2032
North America Market Share 43.5% in 2022
biopharmaceutical sector share 22.9% in 2022
Mammalian cells segment share 58.8% in 2022
Consumables Segment Share 47% in 2022
Key Players Bristol-Myers Squibb Company, Gilead Sciences, Inc., Abbvie, Kadmon Holdings Inc., F. Hoffmon La Roche Ltd., GlaxoSmithKline, J & J, Lupin Pharmaceuticals, Inc., Merck & Co., Inc., Teva Pharmaceuticals, Zydus Pharmaceuticals and Others
*Market dynamics*
*Drivers*
Hepatitis C affects a significant patient population globally, but at the same time, changing patient patterns are causing a noticeable decline in patients, which is most likely to be the market's primary drivers of growth. The patient population has significantly decreased as a consequence of the high cure rates of hepatitis C medications and their better therapeutic efficacy. In addition, it is anticipated that government efforts to increase public awareness of hepatitis and its treatment will promote market growth over the course of the forecast period.
*Restraints*
Due to expensive drug prices, which may serve as a restraint on this market, only those with high income levels have access to treatments for this disease. The arrival of generic forms of HCV medications has altered market dynamics globally. Over the next few years, it is anticipated that the usage rates of its medications will increase significantly as more people can afford the generic forms.
*Opportunities*
Increasing consciousness opens up new possibilities. Developing countries with a large patient pool include Brazil, China, and India, in contrast to other advanced nations. As a result, there is a greater demand for hepatitis C treatment drugs. Few countries and state governments have taken action to stop the spread of hepatitis C by subsidizing specific medications or by allocating special money for programs that treat the disease. Many private NGOs inform the public about hepatitis C infection and increase public awareness of it. These might also be regarded as hepatitis C medication industry factors. The prevalence of hepatitis C illness is rising worldwide. The primary causes of this are blood transfers from an infected mother to a new-born baby and sharp needles, unkempt medical supplies, and these situations.
*Challenges*
Hepatitis C is the most common serious liver infection in the world and a threat to public health on a worldwide scale. It has a 100-fold higher rate of transmission than the HIV/AIDS infection. Furthermore, it is the primary cause of liver cancer, the second-leading cause of cancer-related deaths globally.
*Related Reports*
· *Hepatitis B **M**arket* - The global hepatitis B market was valued at USD 4.47 billion in 2022 and is expanding around USD 6.45 billion by 2032 with a CAGR of 3.37% from 2023 to 2032.
· *Hepatitis D Market* - The global hepatitis D market is poised to grow at a CAGR of 3.12% from 2023 to 2032.
· *Hepatitis Therapeutics Market* - The global hepatitis therapeutics market was valued at USD 15.56 billion in 2022 and is expanding around USD 24.37 billion by 2032 with a CAGR of 4.59% from 2023 to 2032.
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*Recent developments*
· In March 2020, the biopharma division of General Electric firm was purchased by Danaher Corporation, a US-based medical products firm, for an unknown sum. This purchase will greatly enhance Danaher's existing biologics workflow solutions by bringing a highly innovative, industry-leading product suite and an experienced and committed staff to its Life Sciences portfolio. A US-based multinational business called General Electric business works in a number of sectors, including biopharma.
· Demcon purchased a stake in Scinus Cell Expansion Company in June 2019. Equipment development for stem cell treatment is a project of Scinus. The business is developing a technology that will be less expensive, easier to replicate, and labor-intensive than the current technology.
*Market Segmentation*
*By Drug Class*
· HCV Protease Inhibitors
· HCV Polymerase Inhibitors
· HCV NSSA Inhibitors
· Combination Therapy
· Ledipasvir & Sofosbuvir
· Ombitasvir, Paritaprevir, Ritonavir & Dasabuvir
· Elbasvir & Grazoprevir
· Others
· Interferon and Antiviral
· Peginterferon alfa 2a
· Peginterferon alfa 2b
· Ribavirin
· Others
*By Distribution Channel*
· Hospital & Retail Pharmacies
· Online Pharmacies
*By Geography*
· North America
· Europe
· Asia-Pacific
· Latin America
· Middle East and Africa
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