The direct-acting antiviral medicines market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Increasing prevalence of liver cirrhosis and hepatocellular carcinoma, along with the growing investment in the development of advanced therapies are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as increase in awareness for treatment and improvement in healthcare infrastructure in developing countries. According to the World Health Organization (WHO), nearly 71 million people are living with chronic hepatitis C virus infection. Of these, a large group of population developed cirrhosis or liver cancer. Additionally, in 2016, nearly 399,000 people died from hepatitis C.
The market is segmented based on drug class into NS3/4A protease inhibitors, NS5A polymerase inhibitors, NS5B polymerase inhibitors, and combination drugs, out of which, the combination drugs segment is anticipated to grab the largest share by the end of 2021 on account of being evaluated as suitable medicine for treatment of liver diseases in a large number of clinical trials. Moreover, there is a significant growth in investment on these trials, which is also projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of end-user, the hospital pharmacies segment in the direct-acting antiviral medicines market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that more patients choose hospitals as their treatment option and there is an increased availability of prescribed antiviral medicines at hospital pharmacies.
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:
Our in-depth analysis of the direct-acting antiviral medicines market includes the following segments:
FREQUENTLY ASKED QUESTIONS
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.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
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.
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.
The major players dominating the direct-acting antiviral medicines market are AbbVie, Inc., Janssen Therapeutics, Bristol-Myers Squibb, and Merck & Co. among others.
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.
The market is segmented by drug class type, end-user and region.
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.
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