New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hepatitis Therapeutics Global Market Report 2023" - https://www.reportlinker.com/p06466480/?utm_source=GNW
A., GlaxoSmithKline Plc., Lupin Ltd. and Teva Pharmaceutical Industries Ltd.
The global hepatitis therapeutics market is expected to grow from $17.87 billion in 2022 to $18.35 billion in 2023 at a compound annual growth rate (CAGR) of 2.65%. 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 therapeutics market is expected to reach $20.91 billion in 2027 at a CAGR of 3.32%.
The hepatitis therapeutics market consists of revenues earned by entities by providing services such as lifestyle modifications, nutritional support, and liver transplantation.The market value includes the value of related goods sold by the service provider or included within the service offering.
The hepatitis therapeutics market also includes sales of corticosteroids, immune globulins, and Immune globulins which are used in providing hepatitis therapeutics services.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 is an inflammation of the liver caused by several viruses and non-viruses.The term hepatitis therapeutics describes the drugs that are used to treat all forms of hepatitis.
The two drugs used to treat hepatitis are immune modulators and oral antivirals.
North America was the largest region in the hepatitis therapeutics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main disease types treated using hepatitis therapeutics include hepatitis A, hepatitis B, hepatitis C and other disease types.Hepatitis A refers to liver inflammation that can result in mild to severe sickness.
They are classified based on drug class into oral antivirals and immune modulators and are distributed using hospital pharmacies, drug stores and retail pharmacies and online providers.
The rise in hepatitis infection globally is expected to propel the growth of the hepatitis therapeutic market going forward.The rise in hepatitis infection is due to inadequate access to healthcare and vaccinations, an increase in intravenous drug use, unsafe blood transfusion practices, and poor sanitation and hygiene conditions in some parts of the world.
For instance, in April 2022, according to World Health Organization (WHO), a US-based united nations public health agency, from 11 nations, at least 169 cases of acute hepatitis of unknown origin have been documented and 350 million individuals worldwide have viral hepatitis B or C, yet for the majority, testing, and treatment are still out of reach. Therefore, the market for hepatitis therapeutics is expanding due to the rise in hepatitis infection.
New product launches have emerged as the key trend gaining popularity in the hepatitis therapeutics market.Major companies operating in the hepatitis therapeutics market are developing new products to sustain their position in the market.
For instance, in November 2022, Gilead Sciences, Inc., a US-based biopharmaceutical company received approval from FDA for a medicine called Vemlidy (tenofovir alafenamide) for the treatment of paediatric patients with chronic hepatitis B virus infection. Vemlidy is a targeted prodrug of tenofovir that received FDA approval in 2016 as a once-daily treatment for individuals with chronic hepatitis B virus (HBV) infection and compensated liver disease. According to recommendations from the American Liver Foundation, it is a preferred or first-line treatment for persons with chronic HBV and compensated liver disease.
In March 2021, Gilead Sciences Inc., a US-based biopharmaceutical company acquired MYR GmbH for $1.5 billion. The acquisition provides Gilead Sciences Inc with Hepcludex (bulevirtide), which was conditionally approved by the European medicines agency for the treatment of chronic hepatitis delta virus (HDV) in adults with compensated liver disease. MYR GmbH is a Germany-based biotechnology company developing and commercializing therapeutics for the treatment of chronic B and D infections.
The countries covered in the hepatitis therapeutics 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.
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