Research Nester published a report titled “Hepatitis B Therapeutic Drug Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global hepatitis B therapeutic drug market in terms of market segmentation by product type, therapy, route of administration, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global hepatitis B therapeutic drug market is segmented by product type into hepatitis B vaccine, and anti-viral drugs. The anti-viral drugs segment is further bifurcated into tenofovir (VIREAD), lamivudine (EPIVIR), entecavir (BARACLUDE), telbivudine (TYZEKA), and adefovir (HEPSERA), out of which, the tenofovir (VIREAD) segment is projected to hold a significant market share by the end of 2021, owing to the high effectiveness of the drug in treating hepatitis B. The drug is available primarily in two combinations, namely, namely tenofovir disoproxil fumarate, and tenofovir alafenamide, and are used widely in combination with other antiretrovirals.
The global hepatitis B therapeutic drug market is anticipated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029, on account of the increasing prevalence of hepatitis B infections globally, along with the need amongst individuals to cure the viral infection. Additionally, increasing concern for the growing instances of liver cancer is also anticipated to contribute to the market growth in the coming years.
Regionally, the global hepatitis B therapeutic drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions, out of which, the market in the Asia Pacific is projected to grab the largest market share by the end of 2029. The growth of the market in the region can be attributed to the growing prevalence of the viral disease in several nations in the region, including nations such as Mongolia, Vietnam, Korea, and China among others.
Favorable Government Initiatives for Promoting Research Activities in the Field of Developing Novel Drugs for the Cure of Hepatitis B to Expand the Growth of the Market
The World Health Organization (WHO), in one of its statistics, stated that globally, the number of people infected with chronic hepatitis B virus is around 240 million. Further, around 20 million deaths cumulatively is estimated to occur between 2015 and 2030.
Owing to the increasing concern for the growing prevalence of chronic hepatitis B globally, governmental bodies, such as the United Nations and the WHO, are formulating strategies to eradicate the viral infection. For instance, the WHO has formulated a five-point strategic decision for preventing and controlling the viral hepatitis infections so as to meet the 2030 Agenda for Sustainable Development, i.e., the third goal of the Sustainable Development Goals, formulated by the United Nations. These strategies encourage government of nations worldwide to promote research and development in the field of developing novel therapies and drugs for the prevention and treatment of viral infections, which is anticipated to drive the market growth. Moreover, growing support from the government of nations globally, by means of increasing research spending, further helps organizations in the pharmaceutical industry to increase their focus on the development of the drug that can cure the viral infection. Such factors are anticipated to drive the market growth during the forecast period.
However, concerns for the lack of proper healthcare infrastructure in several developing nations around the globe and the long-standing process for the approval of a novel drug are expected to operate as key restraint to the growth of global hepatitis B therapeutic drug market over the forecast period.
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 (NYSE: GSK), Bristol-Myers Squibb Company (NYSE: BMY), Sanofi-aventis Groupe (NASDAQ: SNY), F. Hoffmann-La Roche Ltd. (OTCMKTS: RHHBY), India Immunologicals Ltd., Merck & Co., Inc. (NYSE: MRK), Novartis AG (NYSE: NVS), Serum Institute of India Pvt. Ltd., Dynavax Technologies (NASDAQ: DVAX), VBI Vaccines Inc. (NASDAQ: VBIV), and Gilead Sciences, Inc. (NASDAQ: GILD). 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.