A new report on the Hepatitis C Diagnosis & Treatment Market, published by Market Research Future (MRFR), with Major Drivers, Mega Trends, Regional Overview during the forecast period (2018-2022).
Hepatitis C is a disease caused by the inflammation of the liver. Some of the known symptoms used in its diagnosis are clay-colored stools, joint pain, poor appetite, headaches, nausea, vomiting, and bilirubin. According to the World Health Organization (WHO), nearly 130-150 million are affected by hepatitis C. The global hepatitis C diagnosis and treatment market report of Market Research Future (MRFR) comprises efforts by drug manufacturers as well as governments in keeping the disease at bay.
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The global hepatitis C diagnosis and treatment market is predicted to exhibit a stupendous CAGR from 2016 to 2022 (forecast period). It is likely to expand in valuation due to the cases of sharing needles for intake of illegal drugs intravenously. Increasing awareness of the disease as well as preventive steps taken by governments are likely to drive the market demand during the forecast period. Rising prevalence of liver cancer caused by hepatitis C is one of the major drivers boosting the global market growth.
According to the Center for Disease Control & Prevention (CDC), the probability of liver cancer is increasing at 2.3% annually from 2003 to 2012. High prevalence of liver cancer, rise in government subsidies, and reimbursement schemes can fuel the hepatitis C diagnosis & treatment market growth. Drug abuse, screening programs for rapid diagnosis of hepatitis C, and unsafe sex are other drivers which can induce market demand.
Subsidies provided by governments for patients to avail drugs at affordable rates as well as the large patient pool in China, Brazil, India, and other developed countries are likely to fuel the market growth over the forecast period. Initiatives by countries as well as allocation of budgets for combating the cases of hepatitis C infection can augur well for the market. Awareness campaigns by non-profit organizations
The global hepatitis C diagnosis and treatment market is segmented by diagnostic tests.
By diagnostic tests, it is segmented into recombinant immunoblot assay (RIBA), point-of-care rapid immunoassays, chemiluminescence immunoassay (CIA), enzyme immunoassay (EIA), and others.
The Middle East & Africa, the Americas, Asia Pacific (APAC), and Europe are regions taken into consideration in the compilation of the global hepatitis C diagnosis and treatment market report.
The Americas is expected to dominate the global market due to a high prevalence of hepatitis C cases as well as a rising incidence of liver cancer. Development of new blockbuster drugs as well as the increased healthcare expenditure are factors that can bolster the regional demand. Successful clinical trials of medications and insurance coverage schemes for patients are factors that can bode well for the global hepatitis C diagnosis and treatment market.
The APAC region is touted to display a robust growth rate over the forecast period due to demand for lab immunoassays in China, Pakistan, and India. The shift to rapid diagnostic tests for screening purposes in low-income economies can drive regional market growth. Policies adopted by major pharmaceutical companies for simplifying their algorithms and expediting the process are likely to culminate in good dividends for the global hepatitis C diagnosis and treatment market. Procurement of oral medications by patients seem to be the primary method of combating the disease, with scope of other medications open to the market.
Major industry participants in the global hepatitis C diagnosis and treatment market include F. Hoffmann-La Roche Ltd, Vertex Pharmaceuticals Incorporated, BMS, Merck & Co., Inc, and others. The development of novel products that can be effective against the disease are likely to be the major focus of these companies. Targeted therapies are expected to gain traction in the coming years and widen the scope for hepatitis C medications.
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