According to the report, the global Hepatitis C drug market accounted for around USD 13.50 billion in 2016 and is expected to reach approximately USD 33.50 by 2022, growing at a CAGR of around 16.0% between 2017 and 2022.
Sarasota, FL -- (SBWIRE) -- 03/23/2017 -- Zion Market Research has published a new report titled "Hepatitis C Drug Market for Hospitals, Private labs, Physician offices, Public health labs and Blood banks - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022." According to the report, the global Hepatitis C drug market accounted for around USD 13.50 billion in 2016 and is expected to reach approximately USD 33.50 by 2022, growing at a CAGR of around 16.0% between 2017 and 2022.
Hepatitis C virus is a small (55 to 65 nm), spherical, enveloped, hepatotropic RNA virus that causes acute and chronic hepatitis in humans. Persistent virus infection with HCV often leads to cirrhosis and hepatocellular carcinoma (HCC). The WHO estimates that a minimum of 3 percent of the world's population is chronically infected with HCV. HCV is most commonly spread by direct contact with infected blood and blood products. Availability of injectable therapies and drugs has had a remarkable influence on HCV epidemiology. The incubation period of HCV, though ranging up to several months, averages 6-8 weeks.
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The global hepatitis C drug market was expected to witness growth over the forecast period due to increase in the prevalence of HCV across the globe. Moreover, lack of awareness is considered as a major governing factor which promotes the demand of hepatitis C drug market. Furthermore, many lifestyle-related factors, such as having multiple sex partners, unsafe sex and transferring of body fluid, are estimated to drive the hepatitis C drug market. However, lack of awareness and information about HCV, treatment cost, and threat-related to regulation and development of drug may hamper hepatitis C drug market. Nonetheless, new efficient therapies are expected to like to bring growth avenues in hepatitis C market nearby future.
On the basis of end-users, hepatitis C drug market is segmented into five types: hospitals, private labs, physician offices, public health labs and blood banks. These segments are the key end-users of hepatitis C drug market. In terms of revenue, hospitals were the leading end-user in 2016 and the same is expected to be the largest and fastest growing segment during the forecast period. This growth is attributed due to rising number of hospitals and growing hospital investments across the globe. In addition, growing number of patient is also a key driving factor for the growth of hepatitis C drug market.
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In terms of geography, North America was the leading market for hepatitis C drug market in 2016 in terms of revenue due to the wide availability of hospitals. Furthermore, lifestyle-related factors such as having multiple sex partners, unprotected sex has become very common in North America and European countries. Moreover, hepatitis C drug has huge opportunity in emerging market like Asia Pacific and Latin America due to the increasing number of HCV patient, government initiatives, and healthcare infrastructure.
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The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global hepatitis C drug market including Merck & Co, Kenilworth, Roche, Basel GlaxoSmith, Gilead Sciences, AbbVie, Johnson & Johnson and Bristol-Myers Squibb.
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