Major participants active in the global hepatitis C drug market comprise Kenilworth, Merck & Co, Basel GlaxoSmith, Roche, AbbVie, Gilead Sciences, Bristol-Myers Squibb, and Johnson & Johnson. These players are set to bolster the development of global hepatitis C drug market in the years to come.
As per analysts at Zion Market Research, the global hepatitis C drug market added up for almost USD 13.50 Billion in 2016 and is likely to cross almost USD 33.50 by end of 2022, developing at a CAGR of almost 16.0% from 2017 to 2022.
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Lack Of Awareness To Be The Major Fostering Factor Promoting The Growth Of Hepatitis C Drug Market
“The global hepatitis C drug market was likely to see development in the near future owing to increase in the occurrence of HCV all over the world,” as per analysts at Zion Market Research. In addition to this, lack of awareness is believed as a major fostering factor that promotes the growth of hepatitis C drug market. Moreover, many lifestyle-associated factors, such as transferring of body fluid, unsafe sex, and having multiple sex partners are likely to propel the development of hepatitis C drug market. On the other hand, lack of information and awareness about HCV, threat-related to development & regulation of drug, and treatment cost might hinder development of hepatitis C drug market.
Nevertheless, new efficient treatments are likely to bring growth opportunities in hepatitis C market in the foreseeable future. For example, in April 2018, a nonprofit organization made new hepatitis C medication that is just as effective as those made by other drug giants. This is supposed to bolster the development of hepatitis C drug market.
Broad Accessibility Of Hospitals Bolstered The Development Of Hepatitis C Drug Market In The North America
The hepatitis C drug market is divided based on end-users into five types such as private labs, hospitals, public health labs, physician offices, and blood banks. These sectors are the major end-users of global hepatitis C drug market. In terms of income, hospitals were the dominating end-user recently and the same is anticipated to be the fastest and biggest developing sector in the hepatitis C drug market during the forecast period.
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In terms of regions, in 2016, North America was the dominating market for hepatitis C drug market in terms of income owing to the broad accessibility of hospitals. Moreover, lifestyle-associated factors such as unprotected sex and having multiple sex partners have become very ordinary in European nations and North America. Furthermore, hepatitis C drug has huge growth avenues in emerging regions such as Latin America and Asia Pacific due to the government initiatives, rising number of patient suffering from HCV, and healthcare infrastructure.
The global hepatitis C drug market is segmented as follows:
By End User
- Private labs
- Physician offices
- Public health labs
- Blood Bank
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- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa