Our in-depth analysis of the direct-acting antiviral medicines market includes the following segments:
By Drug Class Type
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing hepatitis C infection prevalence and rising focus of major companies for expanding their product to countries in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to high awareness about direct-acting antiviral medicines in the region, accompanied by the presence of leading healthcare service providers in the region. Along with this, the North America also leads in terms of reimbursement policy system, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the direct-acting antiviral medicines market on account of increase in number of patients with hepatitis C infection & lung cancer along with presence of large pharmaceutical companies. As per the analysis of World Health Organization, Europe is one of the most affected region by Hepatitis C infection, where approximately 14 million people are chronically infected with Hepatitis C, leading to about 112,500 deaths per year from Hepatitis C-related liver cancer and cirrhosis.
The direct-acting antiviral medicines market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing prevalence of liver cirrhosis and hepatocellular carcinoma and the growing investment in the development of advanced therapies are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: Low access to direct-acting antiviral medicines in low economic regions and side effects of direct-acting antiviral medicines are estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the increasing hepatitis C infection prevalence and rising focus of major companies for expanding their product to countries in the region.
Ans: The major players dominating the direct-acting antiviral medicines market are AbbVie, Inc., Janssen Therapeutics, Bristol-Myers Squibb, and Merck & Co. among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by drug class type, end-user and region.
Ans: With respect to end-user, the hospital pharmacies segment is anticipated to hold the largest market share owing to the growing preference among individuals for choosing hospitals as their treatment option and there is an increased availability of prescribed antiviral medicines at hospital pharmacies.