Hepatitis C Drugs Market Overview, Regional Outlook, Insights and Analysis during the Forecast Period 2019-2027

 

Hepatitis C Drugs Market

A liver infection called hepatitis C can cause significant liver damage. The hepatitis C virus is to blame (HCV). The most common blood-borne illness in the world, hepatitis C is primarily spread through intravenous drug use. HCV can also spread through unsafe sex and blood contact. Hepatitis C cannot be vaccinated against; there is no vaccine on the market. Additionally, over the course of the forecast period, the market for hepatitis C drugs is anticipated to grow due to the rising prevalence of the disease. For instance, the World Health Organization (WHO) estimates that 71 million people worldwide were infected with chronic hepatitis C in 2017.

With prevalence rates of 2.3% and 1.5%, respectively, the WHO also considers the Eastern Mediterranean and European regions to be the most affected regions. The  Drugs To Treat Hepatitis C Drugs Market Was Valued At US$ 7,376.6 Million In 2019 And Is Anticipated To Grow At A CAGR Of 4.0% Over The Following Five Years (2019-2027).

Due to an increase in regulatory approval activities for hepatitis C drugs, the Hepatitis C Drugs Market is anticipated to grow significantly over the forecast period. For instance, the 2017 approval of the drug Mavyret (glecaprevir and pibrentasvir) by the U.S. Food and Drug Administration for the treatment of adults with chronic hepatitis C virus (HCV) genotypes 1-6 without cirrhosis (liver disease). Adult patients with HCV genotype 1 infection who have previously undergone treatment with a regimen containing either an NS5A inhibitor or an NS3/4A protease are also eligible to use the drug Majeret.

The U.S. Food and Drug Administration (FDA) also granted AbbVie Company approval for its VIEKIRA XR (dasabuvir, ombitasvir, paritaprevir, and ritonavir) extended-release tablets in 2016. These tablets are used to treat patients with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection.

Over the forecast period, it is anticipated that the high manufacturing costs of hepatitis C drugs will restrain market expansion. Drugs for Hepatitis C, for instance, are expensive because their production requires high-priced raw materials like active pharmaceutical ingredients (APIs) and drug intermediates. Pharmaceuticals are more expensive because the production, isolation, and use of raw materials for pharmaceutical and biopharmaceutical drug production is a complex process that requires skilled labour.

The global Hepatitis C Drugs Market is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Due to the presence of large corporations in the U.S. like AbbVie Inc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., and Johnson & Johnson, North America holds a dominant position in the global market for hepatitis C medications. Due to the increasing acceptance of hepatitis C medications in this region, Asia Pacific is anticipated to experience the fastest growth in the global market for hepatitis C medications. For example, the China Drug Administration (CDA) authorised Gilead Sciences, Inc.'s Epclusa (sofosbuvir 400 mg/velpatasvir 100 mg) in 2018 for the treatment of adults with genotype 1-6 chronic hepatitis C virus (HCV) infection in China.

Major Companies Involved are- Abbvie Inc., Gilead sciences, Inc., BRISTOL-MYERS Squibb Company., F Hoffmann-la Roche Ltd, Merck & co., Inc., Johnson & Johnson, Natco Pharma Limited, and Kadmon holdings, Inc.

Read Global Hepatitis C Drugs Market Press Release

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