(Photo Courtesy: www.harmreductionworks.org.uk)
The global chronic hepatitis B therapeutics market will rise in value from $2.4 billion in 2014 to $3 billion by 2024, representing a modest Compound Annual Growth Rate (CAGR) of 2.4%, says research and consulting firm GlobalData.
According to the company's latest report, this expansion, which will occur over the eight major markets (8MM) of the US, France, Germany, Italy, Spain, the UK, Japan, and China, will be slight due to the patent expiration of all existing branded drugs in the chronic hepatitis B therapeutics space during the forecast period, and continued low diagnosis and treatment rates of the disease.
Dr Daian Cheng, GlobalData's Analyst covering Infectious Diseases, says: "Low diagnosis rates for hepatitis B are self-perpetuating, as they lead to lack of disease awareness and therefore a dearth of people seeking medical advice or appropriate drugs for their condition. In addition, the negative social stigma surrounding hepatitis means that many people are reluctant to get tested.
"With regards to marketed drugs, the chronic hepatitis B therapeutics market will experience harsh generic erosion following the expiration of such popular branded drugs as Bristol-Myers Squibb's Baraclude and Gilead Science's Viread."
GlobalData anticipates that generic drugs will take up a major slice of the patient share during the forecast period, consequently reducing therapeutic sales and restricting market growth.