Hepatitis B Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 08/11/2017 -- Hepatitis B is a life threatening liver infection caused by hepatitis B virus. Adults who get affected by hepatitis B virus for a short time and then get cured is known as acute hepatitis B. Infection that lasts for a long time is known as chronic hepatitis B. Vaccine is the most preferred choice of doctors and physicians to protect people from the disease. The vaccine prevents the infection and stops development of liver cancer and chronic disease caused by hepatitis B. It can cause a long term infection and put people at high risk of liver cancer and cirrhosis that may lead to death.
Globally, hepatitis B is one of the major health problems that spreads by mucosal or percutaneous exposure as well as through menstrual, seminal, saliva, and vaginal fluids. Hepatitis B can occur due to sexual transmission, by having contact with sex workers and sex with multiple partners. Transmission of disease may also occur due to reuse of syringes and needles both among persons who inject drugs and in health care settings. Moreover, it may occur during surgical, medical, and dental procedures, and use of razors that are contaminated with infected blood. Infants and young children mostly get chronic hepatitis B.
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Limited access to treatment and diagnosis of hepatitis B in many resource constrained settings and increasing prevalence of hepatitis B infections are likely to drive the global hepatitis B therapeutics market during the forecast period. Rising awareness and increasing affordability are some of the key factors that will increase the rate of diagnosis before a person having advanced liver disease. According to the World Health Organization (WHO), infection of chronic hepatitis B is most common in infants.
Rising incidence of hepatitis B infections is a major driver of the market. Less availability of antibiotics in the market and effectiveness of antivirals against hepatitis B infections is likely to propel the market during the forecast period. Prevalence of hepatitis B is increasing steadily across the globe. Medications and treatment options are highly expensive. These are the major drivers of the hepatitis B therapeutics market.
In terms of region, the hepatitis B therapeutics market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the hepatitis B therapeutics market owing to the high awareness levels, availability of improved infrastructure, and favorable government initiatives relating to the promotion of hepatitis B therapeutics. Europe is the second largest market for hepatitis B therapeutics driven by rising geriatric population, high rates of chronic infections in Central and Eastern Europe.
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Prevalence of hepatitis B is the highest in Middle East & Africa where adult population is chronically infected. According to the WHO, it is estimated that 2% to 5% of general population is affected chronically in Asia Pacific. Most people with liver cancer die within diagnosis as there are limited treatment options.
Major players operating in the global hepatitis B therapeutics market are GlaxoSmithKline plc, Bristol-Myers Squibb, Novira Therapeutics, Johnson & Johnson, Abivax SA, F. Hoffmann- La Roche, Novartis AG, and Merck & Co. The increasing competition among key players is likely to drive the global hepatitis B therapeutics market during the forecast period.
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