Hepatitis Therapeutics Market Size, Share, And Growth Rate Analysis 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s hepatitis therapeutics market report forecasts the hepatitis therapeutics market size to grow to $20.91 Billion by 2027, with a CAGR (compound annual growth rate) of more than 3%.
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Hepatitis Therapeutics Market Size Forecast
The global hepatitis therapeutics market is expected to grow from $17.87 billion in 2022 to $18.35 billion in 2023 at a compound annual growth rate (CAGR) of 2.65%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hepatitis therapeutics market size is expected to reach $20.91 billion in 2027 at a CAGR of 3.32%.
North America held the largest hepatitis therapeutics market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Hepatitis Therapeutics Market Driver – Rise In Hepatitis Infection Globally
For example, according to the World Health Organisation (WHO), a US-based United Nations public health agency, at least 169 cases of acute hepatitis of unknown origin were documented in 11 countries in April 2022, and 350 million people worldwide have viral hepatitis B or C, but testing and treatment are still out of reach for the vast majority. As a result of the increase in hepatitis infection, the market for hepatitis therapies is rising.
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Key Hepatitis Therapeutics Market Trend – Launching New Product
To maintain their market position, major firms in the hepatitis therapeutics industry are creating new medications. For example, Gilead Sciences, Inc., a biopharmaceutical firm based in the United States, gained FDA clearance in November 2022 for a drug named Vemlidy (tenofovir alafenamide) for the treatment of paediatric children with chronic hepatitis B virus infection. Vemlidy is a tenofovir-targeted prodrug that was approved by the FDA in 2016 as a once-daily treatment for people with chronic hepatitis B virus (HBV) infection and compensated liver damage. It is a preferred or first-line treatment for people with chronic HBV and compensated liver disease, according to the American Liver Foundation.
Hepatitis Therapeutics Market Segment
1) By Disease Type: Hepatitis A, Hepatitis B, Hepatitis C, Other Disease Types
2) By Drug Class: Oral Antivirals, Immune Modulators
3) By Distribution Channel: Hospital Pharmacies, Drug Stores And Retail Pharmacies, Online Providers
Hepatitis Therapeutics Market Major Players and Strategies
Major players in the hepatitis therapeutics market are Gilead Sciences Inc, Bristol-Myers Squibb Co, AbbVie Inc, Merck & Co. Inc., Johnson & Johnson Services Inc., Cipla Inc., F Hoffmann-La Roche Ltd, Biocon Limited, Roche Ltd, LAURUS Labs, Zydus Cadila, Hetero Healthcare Limited, Novartis AG, Sanofi S.A., GlaxoSmithKline Plc., Lupin Ltd. and Teva Pharmaceutical Industries Ltd.
Gilead Sciences Inc., a biopharmaceutical business based in the United States, paid $1.5 billion for MYR GmbH in March 2021. Hepcludex (bulevirtide), which was conditionally approved by the European Medicines Agency for the treatment of chronic hepatitis delta virus (HDV) in people with compensated liver disease, is now available to Gilead Sciences Inc. MYR GmbH is a biotechnology firm established in Germany that develops and commercialises therapies for the treatment of persistent B and D infections.
The Hepatitis Therapeutics Global Market Report 2023 covers regional data on hepatitis therapeutics market size, hepatitis therapeutics market trends and drivers, opportunities, strategies, and hepatitis therapeutics market competitor analysis. The countries covered in the hepatitis therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Hepatitis is a liver inflammation caused by a variety of viruses and non-viruses. Hepatitis treatments refers to the medications used to treat all types of hepatitis. Immune modulators and oral antivirals are the two medications used to treat hepatitis.
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