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

Comments

Post a Comment

Popular posts from this blog

Forging has significant application in creation of various metal for wide range of applications

Image
Forging refers to any process that produces metal from scratch by subjecting it to an external force. Metal forgers can be persons or machines. This techniques may involve grinding (for example, to produce alloyed steel) or may involve the application of pressure to apply heat to the metal piece until it is malleable. The actual process depends on various factors, including the material being forged, its shape, and the degree of stress that is placed on it. Forged grain is the product of Forging with grains of metals pushed against each other through a forge-like tool and into the cladding that forms the final shape of the metal after it has been done. It is the principal production process in most metals. It uses local or repetitive thrusts delivered by a hammer or die to apply mechanical blows to the metal piece until it becomes malleable. It is frequently classified according to the speed at which it's done: fast, cold, or hot. There are many types of forgers available today...
Read more

Ginseng Market Outlook, Analysis and forecast up to 2028

Image
  Ginseng Market Ginseng is a slow-growing perennial plant with green oval-shaped leaves and meaty roots that can persist for more than a century. Ginseng is classified into two types: American ginseng and Asian ginseng. Panax quinquefolius is the scientific name for American ginseng, whereas Panax ginseng is the scientific name for Asian ginseng. Ginseng is widely used as a herb to increase the body's energy levels. Ginseng's antioxidant and anti-inflammatory qualities serve to enhance the immune system, lowering the risk of viral and microbial infections. Ginseng also helps to lower the risk of diseases such as lung cancer, skin cancer, and liver cancer. Other health advantages of ginseng include lower blood sugar levels and improved cognitive functions such as memory and conduct. Ginseng is mostly grown in the United States, Canada, and South Korea. Ginseng has been used as a herbal medicine in China for generations, and the country is one of its largest users. Asia Pacifi...
Read more

The Vaccine Contract Manufacturing Industry to Flourish Due to Urgent Need to Develop Reliable and Cost-Effective Vaccines against Covid-19

Image
Germany Vaccine Contract Manufacturing industry is expected to witness significant growth in the near future, due to emergence of Covid-19. In Germany, from 3 January 2020 to 4:06pm CEST, 18 August 2021, there have been 3,835,375 confirmed cases of COVID-19 with 91,921 deaths, reported to WHO. As of 15 August 2021, a total of 97,884,043 vaccine doses have been administered. The increasing demand for safe and cost-effective vaccines due to unmatchable quality, consistent delivery, and unparalleled security, have contributed to the increasing growth and scope of this industry. The increasing demand for vaccines and resulting profit potential have led to significant growth in the number of contract manufacturing plants located across the world. A major focus of such plants is developing cost effective, high quality vaccines that could be made available to public health organizations and other medical organizations. Several new and innovative technologies are also being developed to man...
Read more