Viral Hemorrhagic Fever Market
size is $ 1.29Bn in 2019, growing at a CAGR of 4.3% during the forecast period 2020-2025. Viral Hemorrhagic Fever is a multisystem syndrome (multisystem in that multiple organ systems in the body are affected). It is defined as a group of illnesses caused by different families of RNA virus that cause vascular damage that results in symptomatic bleeding (hemorrhage) such as Arenaviridae cause Lassa fever (Lassa virus), Argentine hemorrhagic fever (Junin virus), Filoviridae and Bolivian hemorrhagic fever (Machupo virus). It damages the blood vessels, and they affect the body’s ability to regulate itself. Some VHFs cause mild disease, but some, like Ebola or Marburg, cause severe disease and death. Hemorrhagic fever viruses are mainly zoonotic diseases (viral infection) caused by viruses that usually reside in animal or arthropod hosts that may serve as health vectors.
By Type – Segment Analysis
In 2019, Ebola segment dominated the Viral Hemorrhagic Fever Market in terms of revenue is estimated to grow at a CAGR of 3.77%. Ebola hemorrhagic fever spreads to people through direct contact with the blood, body fluids and tissues of animals like monkey, apes and others and with body fluids of a person who is sick with or has died from EVD. It occurs when a person touches these infected body fluids (or objects that are contaminated with them), and the virus gets in through broken skin or mucous membranes in the eyes, nose, or mouth. People can get the virus through sexual contact with someone who is sick with EVD and also after recovery from EVD abetting towards the market’s growth.
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Geography – Segment Analysis
In 2019, the North America region dominated Viral Hemorrhagic Fever Market in terms of revenue with a market share of 39% owing towards owing to the presence of established payers and an increase in the number of Viral Hemorrhagic Fever patients in the region. This growth can be attributed towards the increasing research & development initiatives and government support for the improvement of the healthcare sector. Government has taken initiatives to promote the healthcare expenditure, growing awareness among patients regarding viruses in this region are key factors in the growth of the Viral Hemorrhagic Fever market. Europe is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Viral Hemorrhagic Fever Market
- Increase In The Prevalence of Viral Hemorrhagic Fever
The increase in the prevalence of Viral Hemorrhagic Fever is driving the Viral Hemorrhagic Fever Market owing towards the increase of manufacturers focusing on expanding their pipeline to cater to the demand for Viral Hemorrhagic Fever treatment. Increase in R&D activities for the innovation of newer drugs. Governments have taken initiatives for developing and manufacturing innovative products for the diagnosis & treatment of Viral Hemorrhagic Fever is the other major factor driving growth of the Viral Hemorrhagic Fever market.
Challenges – Viral Hemorrhagic Fever Market
The lack of treatments for viral hemorrhagic fever is restraining the growth of the market. The treatment is very expensive owing to the lack of FDA approved drugs which leads to the less affordability rate. No current treatment can cure viral hemorrhagic fevers and immunizations exist for only two (yellow fever and Argentine hemorrhagic fever) of the many viral hemorrhagic fever hampering the market’s growth.
Viral Hemorrhagic Fever Industry Outlook
Product Launches was the key strategy of the players in the Viral Hemorrhagic Fever Industry. Viral Hemorrhagic Fever top 10 companies include Teva Pharmaceuticals, Mylan Pharmaceuticals, Roche Diagnostics Corp., Essex-Schering-Plough Pharmaceuticals, Jiangsu Lianshui Pharmaceutical Co., Ltd, Zhejiang Zhebei Pharmaceutical Co., Ltd, Tekmira Pharmaceuticals Corp., BioCryst Pharmaceuticals Corp., Sarepta Therapeutics Inc. and Mapp Biopharmaceutical.
- In August 2016, Teva Pharmaceuticals acquired Allergan’s generics business. This acquisition helped the company in delivering the highest-quality generic medicines at the most competitive prices, unlocking value to patients, healthcare systems and investors around the world.
- In December 2019, Sarepta Therapeutics Inc., the leader in precision genetic medicine for rare diseases collaborated with Roche Group to increase the speed with which SRP-9001 could benefit DMD patients in the whole world.
- Increased research in the field of Viral Hemorrhagic Fever is set to propel the growth of the market.
- Increasing awareness among people about hemorrhagic fever are driving factors for the growth of Viral Hemorrhagic Fever market.
- Europe region is estimated to record the fastest growth rate during the forecast period.
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