ID: MRFR/MED/1040-HCR | 90 Pages | Author: Kinjoll Dey | June 2023
The hepatitis c diagnosis and treatment market is expected to reach USD 80,635.4 Million by 2030 at 12.4% CAGR during the forecast period 2022-2030.The hepatitis C virus causes a viral infection that mostly affects the liver. Cirrhosis is frequently the result, and cirrhosis can lead to problems such as liver failure, malignancy, or esophageal and gastric varices. In the early stages of infection, there are usually no symptoms. Fever, black urine, abdominal pain, and yellow-tinged skin can all be signs of a serious infection at this stage. People with alcoholism and HIV infection, regardless of age, are at a higher risk.
The Hepatitis C Diagnosis Market and hepatitis C treatment market is made up of medications that are used to treat the condition. The hepatitis C virus causes hepatitis C, which is a liver infection. Hepatitis C is a virus that can cause both acute and chronic hepatitis. It is a blood-borne virus that is spread through small amounts of blood. Thus, these factors are going to increase the Hepatitis C Diagnosis and Treatment Market Share.
COVID-19, a novel coronavirus disease caused by the SARS-CoV-2 virus, has spread swiftly throughout the world since its outbreak. Scientists and medics have been rushing to study this novel virus and the pathophysiology of this sickness to identify possible treatment regimens and effective therapeutic drugs and vaccinations in light of the potential threat of a pandemic. Furthermore, mandatory isolations/quarantines have hurt the lives of millions of people. If the COVID-19 outbreak is not adequately controlled, the ripple effect might pose serious difficulties to global health systems and have far-reaching implications for the global economy. SARS-CoV-2, a novel coronavirus related to SARS and MERS, is producing major and persistent epidemiological issues all over the world. The Hepatitis C Diagnosis and Treatment Market Analysis have shown that it can be caused by coronavirus-related biologics which includes therapeutic hepatitis C. Because there is currently minimal clinical and basic research information, COVID-19 therapy options include experimental medicines and symptom management. Because biologics have the potential to expand the therapy choices for coronavirus-induced disorders, utilizing previous knowledge and techniques utilized to combat the SARS and MERS epidemics is a viable method for creating novel target-specific treatments for SARS-CoV-2. Thus, COVID-19 has created a fuss all over and is expected to increase market growth.
The hepatitis c diagnosis and treatment market size are predicted to develop because of the factors such as the high prevalence of hepatitis C and raising awareness of the disease. According to a World Health Organization (WHO) paper, an estimated 71 million people worldwide have chronic hepatitis C virus infection. The hepatitis c diagnosis and treatment market Share is primarily driven by the involvement of many businesses in the treatment and medicine development process. Subsidized pharmaceuticals and funding allocated by governments in various nations are all helping to expand the industry. The hepatitis C diagnosis and treatment market is driven by the growth in clinical studies and growing demand for antiviral medications for the treatment of hepatitis C. Furthermore, government initiatives to raise awareness about early diagnosis and treatment, improve healthcare infrastructure, increase funding, launch new targeted therapeutic methods such as vaccines, and increase healthcare expenditure all have a positive impact on the market value.
The Hepatitis C Diagnosis and Treatment Market value is projected to be hampered by severe government regulations and other treatment choices, such as herbal treatment supplied at comparably lower prices. The highest market limitation is the high cost of pharmaceuticals, as the cost of therapy is substantially greater and the average person cannot afford the treatment. Harvoni (Ledipasvir & Sofosbuvir) drug, for example, costs USD 94,500 for a 12-week treatment, or roughly US$ 1100 for each pill. Stringent regulatory requirements stymie early approvals and delay product launch, stifling hepatitis c diagnosis and treatment market growth. Hepatitis C diagnostic and treatment market size is likely to be hampered by strict FDA standards for the approval of new treatments or medications, as well as a rise in demand for alternative treatment methods. In the forecast period, lack of awareness, particularly in developing countries, is expected to pose a challenge to the Hepatitis C Diagnosis and Treatment Market Outlook.
In the projection period, technological advances and innovations provide profitable prospects for market participants. Hepatitis C infection is becoming more common in the world's population. Sharing needles, unsterilized medical equipment, and blood transfusion filters from an infected mother to a newborn baby is the main cause. Because of technological advancements, healthcare expenditure for capital equipment, installed base of various types of products for the market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the hepatitis C diagnosis and treatment market are all increasing.
Hepatitis C Diagnosis and Treatment Market Segment Overview
The global hepatitis c diagnosis and treatment market is segmented into diagnosis, treatment and end user.
Based on the diagnosis, the market has been segmented as follows:
Based on the treatment, the market has been segmented as follows:
Based on the end-user, the market has been segmented as follows:
Hepatitis C Diagnosis and Treatment Market Regional Classification
The Americas are expected to dominate the hepatitis C diagnosis and treatment market due to the rising number of patients with the disease and the presence of major players in the region, including Vertex Pharmaceuticals Incorporated, AbbVie Inc., Bristol-Myers Squibb Company, Abbott, Beckman Coulter, Inc., Hologic, Inc., and Bio-Rad Laboratories, Inc. According to a report released by the Centers for Disease Control and Prevention, hepatitis C affects roughly 2.4 million persons in the United States.
Due to rising awareness of hepatitis C and the growing patient population suffering from the disease, Europe is predicted to represent the second-largest share of the global market. According to the WHO, 14 million persons in Europe had hepatitis C as of during the historic forecast period.
Due to the huge patient population suffering from hepatitis C and the increasing number of government and private institute attempts to raise awareness about hepatitis C, Asia-Pacific is predicted to be the fastest-growing regional market.
Because of the growing patient population suffering from hepatitis C, in the Middle East, and Africa the hepatitis C diagnosis and treatment market is predicted to rise modestly. According to the World Health Organization, hepatitis C is a chronic viral infection that affects ten million individuals in Africa.
Hepatitis C Diagnosis and Treatment Market Competitive Landscape
Although the industry in question is moderately competitive and dominated by a few large companies, it is well-established in many areas and has a promising track record of success. However, its true potential in poor countries has yet to be determined. As a result of increased government actions, people are becoming more aware, which is propelling the market's rise. Strategic agreements and new product launches by significant corporations are also expected to boost the industry's growth. The major key players of the market are as follows:
In India, Abbott introduced "LiverHealth," a project to make it easier to diagnose liver function and promote awareness about hepatitis C.
The market is consolidated, with Gilead Sciences, Inc. accounting for roughly 80.1 percent of the market share, with the majority of revenue coming from the sales of the medications Harvoni and Sovaldi. Bristol-Myers Squibb Company and AbbVie Inc. are the other main participants.
To gain a deeper understanding of the market and industry performance, the Hepatitis C Diagnosis and Treatment Market report includes extensive primary research as well as detailed qualitative and quantitative analysis by multiple industry specialists and key opinion leaders. The report's overall picture illustrates the current market landscape in great detail, including historical and projected market size in terms of value and volume, technological advancements, macroeconomic considerations, and market regulating variables. The report's study contains thorough information and plans for the top major players in the market. It also gives a broad overview of the main market segments and regions.
|Market Size||2030: USD 80,635.4 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Diagnosis, Treatment, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hoffmann-La Roche Ltd (Switzerland), Vertex Pharmaceuticals Incorporated (US), Gilead Sciences, Inc. (US), AbbVie Inc. (US), GlaxoSmithKline PLC (UK), Novartis Pharmaceuticals Corporation (Switzerland), Bristol-Myers Squibb Company (US), Abbott (US), Beckman Coulter, Inc. (US), Siemens Medical Solutions USA, Inc. (Germany), MedMira Inc. (Canada), DiaSorin SpA (Italy), Qiagen (Germany), bioMérieux SA (France), Hologic, Inc. (US), and Bio-Rad Laboratories, Inc. (US)|
|Key Market Opportunities||
|Key Market Drivers||Asia-Pacific is expected to be the fastest-growing regional market owing to the high patient population suffering from hepatitis C and rising number of initiatives taken by governments as well as private institutes to create awareness regarding hepatitis C|
Hepatitis C diagnosis and treatment market is projected to grow at approximately 12.4% CAGR during the assessment period (2022-2030).
high prevalence and increasing awareness about the diseases are major tailwinds pushing the growth of the Hepatitis C diagnosis and treatment market.
Stringent government regulations and the availability of alternate treatment options are major growth impeders for the Hepatitis C diagnosis and treatment market.
North America holds the largest share in the Hepatitis C diagnosis and treatment market, followed by Europe and the Asia Pacific, respectively.
Hoffmann-La Roche Ltd (Switzerland), Gilead Sciences, Inc. (US), Vertex Pharmaceuticals Incorporated (US), AbbVie Inc. (US), Novartis Pharmaceuticals Corporation (Switzerland), GlaxoSmithKline PLC (UK), Bristol-Myers Squibb Company (US), Beckman Coulter, Inc. (US), Abbott (US), Siemens Medical Solutions USA, Inc. (Germany), DiaSorin SpA (Italy), MedMira Inc. (Canada), Qiagen (Germany), Hologic, Inc. (US), bioMérieux SA (France), and Bio-Rad Laboratories, Inc. (US), are some of the top players operating in the Hepatitis C diagnosis and treatment market.
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