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.
Global hepatitis B therapeutic drug market was valued at approximately USD 3.2 Billion in 2014 and is anticipated to foster at a modest compound annual growth rate (CAGR) of 2.6% over the forecast period i.e. 2015-2021. Geographically, the market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of World. Asia-Pacific hepatitis B therapeutic market is envisioned to behold the fastest growth in coming 5-6 years.
On the basis of products, the global hepatitis B therapeutic drug market is segmented into:
Global hepatitis B therapeutic drug market can be segmented based on demography
Based on the patents, the global hepatitis B market is divided into
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and challenges
Increasing incidences of Hepatitis B, rising government and non-government organizations’ initiatives to promote use of hepatitis drugs are believed to drive the global hepatitis B therapeutic drug market over the forecast period.
However, high cost of hepatitis B drugs and complex regulatory procedures are likely to dampen the growth of the market in future.
Market Size and Forecast
North America dominates the global hepatitis B therapeutic drug market in the world. The hepatitis B drug market in North America is sparked by higher spending of government on healthcare industry. The U.S. and Canada are two major markets of hepatitis B drugs in North America. The U.S. Hepatitis B drug market is likely to get fostered by increasing immigration of hepatitis B patients from emerging nations.
Europe is also expected to account for a larger share of the global hepatitis B therapeutic drug market during the forecast period. The market is likely to get propelled by rising incidence of various types of hepatitis in some of the major countries such as Germany, Spain, Italy, U.K., France, and Hungary.
Asia-Pacific hepatitis B therapeutic drug market is forecasted to have the highest growth rate owing to increasing healthcare infrastructure in countries such as India and China. In addition to that, increase in aging population in japan is further expected to boost the hepatitis B therapeutic drug market in the region.
The global hepatitis B therapeutic drug market includes some of the top players such as GlaxoSmithKline, Bristol-Myers Squibb Company, Mitsubishi Tanabe Pharma Corporation, Johnson & Johnson, F. Hoffmann-La Roche Ltd., Gilead Sciences Inc., Merck & Co. Inc., Novartis AG, AbbVie Inc., etc.
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