Press release
The Hepatitis C Treatment Market to Be Driven By the Use of Natural Language Processing
The Hepatitis C Treatment Market is bound to grow robustly in the years to come. With smart technology and 5G being increasingly adopted, the healthcare vertical is witnessing a paradigm shift. These technologies can thus increase the convenience quotient (CQ), as abysmal disruption happens in the patients' lives. This convenience quotient would be the trend running in the healthcare vertical shortly.
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.
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Company Profiles
Gilead Sciences, Inc.
AbbVie Inc.
Kadmon Holdings, Inc.
F. Hoffmann-La Roche Ltd
GlaxoSmithKline plc.
Bristol-Myers Squibb Company
Merck & Co., Inc.
Johnson & Johnson
Others.
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Market dynamics
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. 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.
Market forecast
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. 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.
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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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