The global hepatitis drugs market is expected to generate $118.5 billion revenue by 2020, and is projected to advance at a CAGR of 29.7% during the forecast period. The market growth is attributed to the increasing support from private and public organizations in the form of funding and grants; increasing strategic development activities, such as collaboration and licensing; and rising prevalent cases of hepatitis and its types, including hepatitis A, B, C, and others.
Among these, the hepatitis C category is projected to hold the maximum share by 2020 in the hepatitis drugs market. It is also expected to be the fastest growing category during the forecast period, registering a CAGR of 30.7%.
Furthermore, the North American region held the largest share in 2014, however, Asia is expected to be the fastest growing market, progressing at a CAGR of 32.4% during the forecast period in the hepatitis drugs market.
The widespread presence of hepatitis B and C are majorly responsible for driving the growth of global market. According to an article published by a non-profit organization, Hepatitis B Foundation, in September 2015, nearly 400 million individuals were infected with chronic hepatitis B, across the globe.
Similarly, the World Health Organization (WHO) in July 2015, stated that around 130-150 million people were suffering from hepatitis C. Therefore, the increasing number of cases has propelled the demand of drugs indicated for the treatment and management of this fatal disease. Moreover, growing strategic development activities is an evolving trend observed in the hepatitis drugs market. However, stringent regulatory guidelines and high R&D expenditure are impeding the market growth.
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Some of the major market players operating in the hepatitis drugs market include Johnson & Johnson, GlaxoSmithKline plc, Gilead Sciences Inc., AbbVie Inc., F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Merck & Co. Inc., Mitsubishi Tanabe Pharma Corporation, Novartis AG, and Dynavax Technologies Corporation.
HEPATITIS DRUGS MARKET SEGMENTATION
Market Segmentation by Type
Market Segmentation by Drug
Market Segmentation by Geography