The global Hepatitis B treatment market is growing rapidly, majorly due to the increasing prevalence of this condition. At the same time, there are a number of novel treatments available in the market which are increasing the size of the market, providing quality care. The emergence of many new, effective anti-viral medications is commutatively escalating the market on the global platform, offering better outcomes, lesser side-effects, and shorter treatment times.
According to Market Research Future (MRFR), the global Hepatitis B treatment market is expected to grow moderately by 2024. In its recently published analysis, MRFR also asserts that the market would register a CAGR of approximately 5.3% throughout the assessment period (2018 -2024). The market has been witnessing a number of clinical trials for testing new treatments, interventions, and tests to prevent, detect, treat, or manage the condition.
Much on-going research to fully understand and treat the disease are achieving significant progress, which further defines the growing landscape of the Hepatitis B treatment market. Besides, increasing population and urbanization alongside, spreading awareness about the availability of treatments are contributing to the growth of the market. The rapidly improving global economy provide impetus to the market growth, enabling access to the quality life & improved healthcare.
On the other hand, unmet medical needs, and drug resistance alongside, the high cost associated with the medications are some of the major factors expected to impede the growth of the hepatitis test kit market. Nevertheless, more advancements in the healthcare technologies scheduled to emerge in the recent future would support the growth of the market, presenting more affordable treatments.
Players leading the global hepatitis B treatment market include Apotex Corp., Accord Healthcare Inc., Arbutus Biopharma, Aurobindo Pharma Limited, Arrowhead Pharma, Bristol-Myers Squibb Company, GlaxoSmithKline, Gilead Sciences, Inc., Lupin Pharmaceuticals, Inc., Par Pharmaceutical, Inc., Merck & Co., Inc., Teva Pharmaceuticals, and Zydus Pharmaceuticals, among others.
Hepatitis B Treatment Market – Segmentations
The report is segmented into four market dynamics to widen the scope of understanding,
By Type : Acute and Chronic.
By Treatment: Immune Modulator Drugs, Antiviral Drugs, Vaccine, and Surgery (Liver Transplant).
By Distribution Channel: Hospital & Retail Pharmacies and Online Pharmacies.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Hepatitis B Treatment Market - Regional Analysis
North America leads the Hepatitis B treatment market with a significant market share. Attributing to the favourable reimbursement scenario and higher expenditure on healthcare, the market is expected to grow phenomenally over the forecast period. The market is expected to perceive healthy growth. Another important driver for regional market growth is the rapid uptake of new technologies in the US. Moreover, high healthcare expenditure boosts the growth in the regional market, increasing access to the quality care and best treatments for viral infection.
The Hepatitis B treatment market in the European region takes the second lead, globally. According to the World Health Organization, hepatitis B and C affect a large number of Europeans, taking away lives of 1.5 million people each year. Rising cases of acute hepatitis B and viral infection among the population along, the presence of advanced medical facilities drive the regional market growth. The resurging economy in Europe is certainly supporting the regional market growth, increasing the per capita healthcare expenditures and access to quality healthcare.
Asia Pacific Hepatitis B treatment market is brisk, which is growing at a phenomenal CAGR. A rapidly growing medical diagnostic sector alongside, the growing prevalence of bacterial infection and a large patient population suffering from HIV infection support regional market growth. India and China backed by the vast population, and the availability of low-cost drugs for the treatment lead the regional market.
Hepatitis B Treatment Market - Competitive Analysis
Highly competitive, the Hepatitis B treatment market appears to be fragmented with many large and small players operating in the market. These players incorporate strategic initiatives, such as acquisitions & mergers, collaboration, expansion, and technology launch to gain a competitive advantage in the market. They also invest substantially in R&D and clinical trials to develop effective drugs.
Industry/Innovation/ Related News:
August 26, 2019 ---- Grimes & Company Inc. (the US), country’s leading financial advising company announced boosting its stake in shares of Roche Holding AG (Switzerland), a leading global pharmaceutical company engaging in the diagnostics and prescription pharmaceuticals for treatments of hepatitis B & C, HIV/AIDS, and HPV, among several others. According to its most recent disclosure of Grimes with the SEC, the increase in holdings is by 0.7% during the second quarter.
Grimes & Company Inc.’s holdings in Roche Holdings AG Basel were worth USD 10,501,000 at the end of the most recent reporting period. Simultaneously, several other institutional investors also have modified their holdings of the company, recently. For instance, Advisors Asset Management Inc. purchased a new stake in shares of Roche Holdings AG in the 1st quarter worth about USD 144,000.
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