New York, April 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hepatitis Drugs Global Market Report 2023" - https://www.reportlinker.com/p06319268/?utm_source=GNW
The global hepatitis drugs market grew from $18.63 billion in 2022 to $19.38 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hepatitis drugs market is expected to grow to $23.69 billion in 2027 at a CAGR of 5.2%.
The hepatitis drugs market consists of sales of ribavirin, elbasvir-grazoprevir, and glecaprevir-pibrentasvir.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.
Hepatitis drugs refer to a medication that aggravates liver inflammation. A number of viruses (viral hepatitis), substances, medications, alcohol, certain genetic abnormalities, an overactive immune system that mistakenly assaults the liver (autoimmune hepatitis), and other factors can result in liver inflammation.
North America was the largest region in the hepatitis drugs market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the hepatitis drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of hepatitis drugs interferon alphas, HIV NRTIS, nucleotide polymerase / NS5A inhibitor combinations, hepatitis C protease / NS5A inhibitor combinations, NS5A inhibitors, nucleotide polymerase inhibitors, nucleoside analog antivirals and thrombopoiesis stimulating agents.The interferon alphas are the innate immune system in response to environmental exposures such as viral infections.
Interferon alpha has been developed in different formulations for the treatment but mainly for chronic hepatitis C.The drugs are consumed through oral or injection route of administration and are distributed through channels such as hospital pharmacies, retail pharmacies and online pharmacies.
These drugs are used to treat hepatitis A, hepatitis B, hepatitis C, hepatitis D and hepatitis E.
The increasing number of cases of different types of hepatitis is significantly driving the growth of the hepatitis drug market.Various types of hepatitis need different drugs for treatment, which increases the demand for hepatitis drugs.
For instance, in June 2022, according to the World Health Organization (WHO), a Switzerland based international public health organization, 296 million people had a chronic hepatitis B infection, with an average of 1.5 million new infections every year. This increasing number of hepatitis infections will invariably increase the need for and consumption of hepatitis drugs. Thus, the increasing number of different types of hepatitis is expected to propel the growth of hepatitis drugs in the forecast period.
New product launches are a significant trend in the hepatitis drugs market.The key players in the hepatitis drugs sector are focusing on launching new products for hepatitis treatments to strengthen their position in the market.
For instance, in September 2020, MYR Pharmaceuticals, a Germany-based biotechnology company launched HEPCLUDEX (bulevirtide) in Germany, France, and Austria for the treatment of chronic hepatitis B and D.HEPCLUDEX® is the first European drug to be approved for the treatment of chronic hepatitis D.
HEPCLUDEX® inhibits the entry of HBV/HDV into hepatocytes and viral spread within the liver by blocking the NTCP receptor on the surface of hepatocytes.
In March 2021, Gilead Sciences, a US-based biopharmaceutical company acquired MYR GmbH for cash consideration of $1.55 billion (€1.45 billion). As a result of the acquisition, Gilead leverages the MYR GmbH’s new drugs and expansion of the market globally in providing better treatment for hepatitis. MYR GmbH is a Germany-based company that develops inhibitors for chronic hepatitis B and D infections.
The countries covered in the hepatitis drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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.
The hepatitis drugs market research report is one of a series of new reports that provides hepatitis drugs market statistics, including hepatitis drugs industry global market size, regional shares, competitors with an hepatitis drugs market share, detailed hepatitis drugs market segments, market trends and opportunities, and any further data you may need to thrive in the hepatitis drugs industry. This hepatitis drugs 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.
Read the full report: https://www.reportlinker.com/p06319268/?utm_source=GNW
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