Hepatitis B Treatment Market- Highlight
Hepatitis B is a viral infection which can cause a liver infection or inflame the liver. It is transmitted via exposure to body or blood fluids, intravenous drug use, and sexual intercourse. According to the World Health Organization (WHO) report of 2015, close to 887,000 deaths were caused by Hepatitis B. The global Hepatitis B treatment market report of Market Research Future (MRFR) contains the latest medical breakthroughs and product launches of vaccine manufacturers to counter the menacing disease.
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The global Hepatitis B treatment market is anticipated to accrue revenues at 5.3% CAGR from 2018 to 2024 (forecast period). It can be driven by the rising incidence of Hepatitis B virus (HBV) cases globally. Development of vaccines and drugs for the treatment of HBV can augment the market size considerably. In addition, patients with AIDS and lymph proliferative disease combined with patients being treated with immunosuppressants and hemodialysis vulnerable to acquiring HBV can present valuable opportunities for the market.
Affordability of drugs and awareness of the disease can play a major role in the market growth. According to the World Health Organization (WHO), HBV is most commonly found in infants. Effectiveness of antivirals amid low availability of antibiotics can propel the market demand.
But adverse effects of the drug and medications can negatively impact the market growth.
Hepatitis B Treatment Market- Segmentation Analysis
The Hepatitis B treatment market is segmented on the basis of type, treatment, and distribution channel.
By type, it is segmented into chronic and acute. The chronic segment is expected to gain the major market share till 2024. Development of assays which can detect strains of HBV in tissues, single cells, and serum is expected to drive segment growth.
By treatment, it is segmented into surgery (liver transplant), vaccines, immune modulator drugs, and antiviral drugs. Antiviral drugs can command a hefty market share till 2024. Reputed drug manufacturers are investing in the regions of India and China to capitalize on low availability of treatment options. Recently, Mylan has signed an agreement with Gilead for developing drugs for HBV in India.
By distribution channel, it is segmented into online pharmacies and hospital & retail pharmacies.
Hepatitis B Treatment Market- Region Analysis
By region, the Hepatitis B treatment market encompasses the Middle East & Africa (MEA), Americas, Europe, and Asia Pacific (APAC).
The Americas is predicted to lead the global market due to high healthcare budget of countries, increased geriatric populace, and presence of large healthcare companies. According to the National Vaccine Information Center in 2015, nearly 3,370 cases of Hepatitis B were reported in the U.S. Moreover, access to best treatments, development of clinical practices, and rising cases of bacterial infection.
The Europe region is expected to accrue a commendable demand due to rising cases of Hepatitis B and presence of advanced medical care facilities.
The APAC region can exhibit a robust growth rate due to large number of patients suffering from HBV, prevalence of bacterial infection, and development of medical infrastructure.
Lastly, the MEA Hepatitis B market is deemed for the least growth due to low awareness levels of Hepatitis B tests, low healthcare expenditure, and strict government policies.
Hepatitis B Treatment Market- Competitive Landscape
Prime players of the Hepatitis B treatment market include Teva Pharmaceuticals, Aurobindo Pharma Limited, GlaxoSmithKline, Zydus Pharmaceuticals, Par Pharmaceutical, Inc., Apotex Corp., Arbutus Biopharma, Accord Healthcare Inc., Lupin Pharmaceuticals, Inc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., Arrowhead Pharma, and others.
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Bukwang Pharmaceutical, a South Korean company, has gained the license from Novartis to sell Sebivo, its proprietary Hepatitis B drug. The company has attained distribution rights for liver disease adjuvants and for treating all liver diseases giving it a sizeable foothold in the Hepatitis B treatment market.
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