Hepatitis C Treatment Market to Exceed at a Value of US$ 71.13 Bn by 2024

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According to a report published by Persistence Market Research (PMR), the global market for hepatitis C treatment is expected to cross US$ 71 by 2024 end, increasing at over 13% CAGR. In 2015 the market stood at US$ 23.9 Billion and is estimated to surpass US$ 26 billion by the end of 2016.

Factor such as growing per capita healthcare expenditure worldwide and growing number of hepatitis C infection cases in Canada and the US are expected to fuel the demand global hepatitis C treatment during the forecast period. Moreover, increasing government initiatives to check infection spread and awareness campaigns organized by private NGOs for effective treatment and prevention are additional factors expected to drive the market growth. On the other hand, high cost of advanced hepatitis C drugs and lack of information regarding effective hepatitis C infection treatment in the regions such as the Latin America, Middle East and Africa, Asia Pacific is anticipated to inhibit the growth of the global market for hepatitis C treatment.

On the basis of drug class, the global market for hepatitis C treatment has been segmented into HCV Polymerase Inhibitors, Interferon & Antiviral, HCV Protease Inhibitors, Combination Therapy, and HCV NS5A Inhibitors. Combination therapy is anticipated account for the highest share of the global market, reflecting a CAGR of over 13% during the forecast period.

Based on distribution channel, the market has been segmented into online pharmacies, hospital pharmacies and retail pharmacies. Hospital pharmacies are expected to be the predominant segment over the forecast period and expected to account for nearly 44% of the global market in revenues over 2024. Hospital pharmacies are projected to be the most lucrative segment of the market due to the increasing incidences of hospitalization and better services and accessibility. Whereas, the online pharmacies segment is anticipated to reflect the fastest CAGR over the forecast period, creating an absolute $ opportunity of US$ 713.8 Million in 2017 over 2016. The segment is anticipated to register for a strong market growth over the forecast period, attributing the increasing availability of hepatitis C treatment and discounts provided by online drug retailers.

The market in Asia Pacific is expected to expand at CAGR of over 14% owing to rising awareness about hepatitis C infection. Whereas, the market in North America anticipated to account for 45% share of the market by the end of 2016. Europe is anticipated to account for over 19% share of the market in 2016. The market in Latin America stood at US$ 2,915.8 Million in 2015 and is anticipated to surpass US$ 3,311 Million by the end of 2016. Similarly, the market in MEA region is expected to grow to US$ 1,988.1 Million by 2016 end from US$ 1,792.5 Million in 2015.

Summary: The Global market for Hepatitis C Treatment is projected to cross at US$ 71 Billion by the End of 2024

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