Hepatitis B, a leading cause of human mortalities across the globe, is a fatal disease which leads to infections in the liver. A person suffering from Hepatitis B needs proper and intensive care which is provided through various therapeutic drugs of Hepatitis B available in the market.
“Hepatitis B Therapeutic Drugs Market: Global Demand Analysis & Opportunity Outlook 2021”
The global hepatitis B therapeutic drugs market is segmented into type such as generic drugs and branded drugs. Among these segments, generic drugs segment is expected to occupy top position in overall hepatitis B therapeutic drug market during the forecast period.
Increasing generic drugs prescription across the globe is anticipated to foster the growth of hepatitis B generic drugs market. Furthermore, less cost of generic drugs as compared to branded drugs (about 85% less than branded drugs) is increasing the adoption of generic hepatitis B therapeutic drug market.
Global hepatitis B therapeutic drugs market is expected to flourish at a CAGR of 2.6% over the forecast period. Moreover, the global hepatitis B therapeutic drugs market was estimated at USD 3.2 Billion in 2021.
Rising number of chronically infected people across the world is expected to trigger the growth of hepatitis B therapeutic drug market. For instance, as per the data of WHO, around 240 million people were estimated to be suffering from hepatitis B disease.
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North America is expected to dominate the overall market of hepatitis B therapeutic drug during the forecast period. Further, North America hepatitis B patient penetration rate is estimated to grow at around 16% till 2033.
Moreover, favorable government initiatives and policies such as awareness programs are anticipated to garner the growth of the hepatitis B therapeutic drug market in North America region. Asia Pacific is anticipated to witness lucrative growth over the forecast period.
Factors such as high prevalence of hepatitis B in East Asia and rapid development of healthcare infrastructure are likely to impel the growth of hepatitis B therapeutic drug market. Middle East and Africa is expected to register substantial growth during the forecast period.
Rising Prevalence of Hepatitis B across the World
Increasing incidences of acute hepatitis B is anticipated to impel the demand for hepatitis B therapeutic drugs during the forecast year. Moreover, high penetration of hepatitis B in low-income economies such as sub-Saharan countries is anticipated to foster the growth of hepatitis B therapeutic drug market.
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Favourable Initiatives and Policies
Initiative by Government and health organizations of various countries to raise the awareness are expected to increase the demand for hepatitis B therapeutic drugs. Apart from this, continuous government efforts to make the treatment of such chronic diseases available to the public are also anticipated to foster the growth of hepatitis B therapeutic drug market.
Although, lack of awareness coupled with low diagnosis and treatment rate is likely to inhibit the growth of the global hepatitis B therapeutic drug market in the near future.
The report titled “Hepatitis B Therapeutic Drug Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global hepatitis B therapeutic drug market in terms of market segmentation by product, by demography, by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global hepatitis B therapeutic drug market which includes company profiling of GlaxoSmithKline plc, Bristol-Myers Squibb Company, Mitsubishi Tanabe Pharma Corporation, Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Merck & Co.
Inc., Novartis AG, AbbVie Inc., ContraVir Pharmaceuticals and Aurobindo Pharma Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global hepatitis B therapeutic drug market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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