The Hepatitis C Treatment Market is slated to witness exponentiation going forward. The IoMT (Internet-of-Medical-Things) is already transforming every walk of life, including healthcare. Healthcare IT has let both – patients and doctors carry/download information about each other anywhere and anytime through their smartphones/tabs. In other words, more connectivity translates to better access to data, thereby rendering better healthcare for patients. This would be the future of the healthcare vertical in the upcoming period.
The Hepatitis C Treatment Market will be worth US$ 71.13 Billion at a CAGR of 13.1% from 2024. With interconnected ecosystems taking the center stage, advancements in technology are bound to bring about a digital alteration in the healthcare vertical. Also, bio-based medications are on the anvil.
Persistence Market Research (PMR) delivers key insights on the global hepatitis C treatment market in its latest report titled “Hepatitis C Treatment Market: Global Industry Analysis and Forecast, 2016–2024”. The global hepatitis C treatment market was valued at US$ 23.9 Bn in 2015 and is estimated to be valued at US$ 26.6 Bn by 2016. The market is expected to reach a valuation of US$ 71.13 Bn by the end of 2024, reflecting a CAGR of 13.1% over the forecast period.
Growth of the global hepatitis C treatment market is primarily driven by factors such as increase in the prevalence of hepatitis C infections in the U.S. and Canada and rising per capita healthcare expenditure across the globe. Also government initiatives to control infection and various private NGOs creating awareness about treatment is also fueling the market growth.
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- Gilead Sciences, Inc.
- AbbVie Inc.
- Kadmon Holdings, Inc.
- F. Hoffmann-La Roche Ltd
- GlaxoSmithKline plc.
- Bristol-Myers Squibb Company
- Merck & Co., Inc.
- Johnson & Johnson
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However, high cost associated with hepatitis C treatment drugs and lack of awareness about hepatitis C infection in the regions of Asia Pacific, Middle East and Africa, and Latin America is expected to impede growth of the global hepatitis C treatment market.
By drug class, the market is segmented into HCV Protease Inhibitors, HCV Polymerase Inhibitors, HCV NS5A Inhibitors, Combination Therapy and Interferon & Antiviral which is again sub-divided into various drugs sub segments. The combination segment is expected to contribute a maximum share to the global hepatitis C treatment market and register the fastest CAGR of 13.9% during the forecast period.
By distribution channel, the market is segmented into Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. Among these, the hospital pharmacies segment is anticipated to be dominant throughout the forecast period and is projected to account for about 43.7% share of the total global hepatitis C treatment market revenue by 2024.
The hospital pharmacies segment is anticipated to emerge as the most attractive segment in the global hepatitis C treatment market owing to growing instances of hospitalization and improved accessibility and services. The online pharmacies segment is expected to register the fastest CAGR during the forecast period and is estimated to create absolute $ opportunity of US$ 713.8 Mn in 2017 over 2016.
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The online pharmacies segment is expected to witness significant growth during the forecast period and this can be attributed to high availability of hepatitis C treatment drugs and discounts provided by online pharmacies.
This report covers global and regional trends along with an analysis of the market potential. North America is estimated to account for 45% share in the global hepatitis C treatment market by 2016, whereas Asia Pacific is projected to grow at a healthy CAGR of 14.8% due to increasing awareness about hepatitis C infections. Europe region is expected to account for 19.6% share in the global hepatitis C treatment market by 2016 end.
Latin America was valued at US$ 2,915.8 Mn in 2015 and is estimated to reach US$ 3,311.1 Mn by 2016, with a Y-o-Y growth of 13.6% over 2015–2016. The Middle East and Africa region was valued at US$ 1,792.5 Mn in 2015 and is estimated to reach US$ 1,988.1 Mn by 2016.
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