PUBLISHER: The Business Research Company | PRODUCT CODE: 1415775
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415775
“Viral Hepatitis Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on viral hepatitis market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for viral hepatitis? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The viral hepatitis market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Viral hepatitis encompasses a group of infectious diseases resulting from various viruses (hepatitis A, B, C, D, and E), primarily affecting the liver. The symptoms may vary depending on the specific virus, but common manifestations include fatigue, jaundice, abdominal pain, nausea, vomiting, and fever.
The primary types of viral hepatitis diseases include hepatitis A, hepatitis B, hepatitis C, and others. Hepatitis A is a potentially life-threatening liver ailment caused by the hepatitis A virus. Diagnosis is typically achieved through liver biopsy, blood tests, imaging tests, and other diagnostic methods. Treatment options involve antiviral drugs, surgery, vaccines, immune modulator drugs, and others. These treatments can be administered through various routes, including oral and parenteral, and are commonly offered in hospitals, specialty clinics, homecare settings, and other relevant healthcare facilities.
The viral hepatitis market research report is one of a series of new reports from The Business Research Company that provides viral hepatitis market statistics, including viral hepatitis industry global market size, regional shares, competitors with a viral hepatitis market share, detailed viral hepatitis market segments, market trends and opportunities and any further data you may need to thrive in the viral hepatitis industry. This viral hepatitis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The viral hepatitis market size has grown steadily in recent years. It will grow from $15.48 billion in 2023 to $16.21 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to vaccine development, blood screening programs, antiviral drugs, global health initiatives.
The viral hepatitis market size is expected to see steady growth in the next few years. It will grow to $19.01 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to access to treatment, public health legislation, combination therapies, health equity initiatives. Major trends in the forecast period include personalized treatment plans, digital health tools, ai in disease monitoring, hepatitis c micro-elimination.
The heightened prevalence of hepatitis is poised to act as a catalyst for the expansion of the viral hepatitis market in the near future. Hepatitis, a condition characterized by liver inflammation and damage, can be caused by various infectious viruses and non-infectious agents, leading to a spectrum of medical complications. Among the viruses responsible for viral hepatitis are hepatitis A, B, C, D, and E. For instance, as of August 2023, the Centers for Disease Control and Prevention, a US-based national public health agency, reported that in the United States, there were approximately 9,952 cases of hepatitis A across 49 states and the District of Columbia in the year 2020. Additionally, 4,798 cases of acute hepatitis C were reported to the CDC from 44 states in 2020, and 41 states collectively reported a total of 107,300 newly diagnosed cases of chronic hepatitis C to the CDC in the same year. Thus, the surging prevalence of hepatitis is set to be a key driver of growth in the viral hepatitis market.
The increasing volume of research and development (R&D) endeavors is expected to serve as a powerful growth driver for the viral hepatitis market. Research and development initiatives focused on viral hepatitis encompass a wide spectrum of activities, including the development of vaccines, antiviral medications, diagnostic tests, epidemiological studies, public health interventions, genomic research, prevention strategies, global health campaigns, clinical trials, and investigations into co-infections. The upsurge in R&D activities not only fosters innovation in treatment approaches but also expands the array of options for diagnosis and prevention. This, in turn, leads to a higher number of clinical trials, stronger global health initiatives, and heightened competition among pharmaceutical companies. For instance, in November 2022, researchers in Melbourne secured funding of $1.7 million for the next five years through the mRNA Victoria Activation Program. This funding is set to advance their pioneering work in the quest for a cure for hepatitis B virus infection. Consequently, the escalation in the number of research and development activities is a driving force behind the growth of the viral hepatitis market.
The growth of the viral hepatitis market during the forecast period is impeded by the substantial costs associated with treatments. The elevated treatment costs for viral hepatitis have the potential to create obstacles in the realm of prevention, diagnosis, and therapeutic efforts. Such costs can result in restricted access to care, generate financial burdens for individuals and healthcare systems, and contribute to health disparities on both national and global scales. For instance, data from 2022, sourced from the National Library of Medicine, a biomedical library, indicated a range in the cost of antiviral drugs for hepatitis B and C, with annual expenses varying from $10 to $36, while annual monitoring carried an approximate cost of $38 per year. Consequently, the high treatment costs are acting as a hindrance to the viral hepatitis market's growth.
Prominent companies active in the viral hepatitis market are dedicated to advancing the development of new drugs to reinforce their position within the market. The pursuit of drug development and innovation serves to enrich scientific understanding by shedding light on disease mechanisms, thus expediting the creation of novel treatments. For instance, in November 2022, Gilead Sciences Inc., a biopharmaceutical company based in the United States, disclosed the FDA's granting of the supplemental new drug application (sNDA) for Vemlidy (tenofovir alafenamide) 25 mg tablets. These tablets are designed for once-daily administration to address chronic hepatitis B virus (HBV) infection in pediatric patients aged 12 years and older with compensated liver disease. The approval for Vemlidy's utilization in this specific group of pediatric patients was backed by the results of a 24-week Phase 2 clinical trial.
In March 2021, Gilead Sciences Inc., a US-based biopharmaceutical company, completed its acquisition of MYR GmbH for an approximate sum of $1.60 billion (€1.45 billion). This acquisition enabled Gilead to obtain Hepcludex (bulevirtide), provisionally licensed by the European Medicines Agency for the treatment of chronic hepatitis delta virus (HDV) in individuals with compensated liver disease. MYR GmbH, headquartered in Germany, specializes in the development and manufacturing of treatments for chronic hepatitis B and D viral diseases.
Major players in the viral hepatitis market are Pfizer Inc., Johnson & Johnson Co, F Hoffmann-La Roche AG, Merck & Co., AbbVie Inc., Novartis AG, Sanofi SA, Bristol-Myers Squibb, Astra Zeneca Pharmaceuticals LP, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Daiichi Sankyo Co. Ltd., Hetero Drugs Ltd., Eisai Co. Ltd., Boehringer Ingelheim Group, Sun Pharmaceutical Industries Ltd., Lupin Limited, Dr. Reddy's Laboratories, Zydus Lifescience Ltd., Glenmark Pharmaceuticals Ltd., Cipla Ltd., Torrent Pharmaceuticals Ltd., Otsuka Pharmaceutical Co. Ltd., Wockhardt Ltd. .
North America was the largest region in the viral hepatitis market in 2023. The regions covered in viral hepatitis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the viral hepatitis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, and Spain.
The viral hepatitis market consists of revenues earned by entities by providing services such as treatment, testing, awareness programs and diagnosis. The market value includes the value of related goods sold by the service provider or included within the service offering. The viral hepatitis market also includes the sales of treatments such as vaccines and medication. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.