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Hepatitis C Drugs Market – Insights

Hepatitis C is a liver infection that can lead to serious liver damage. It’s caused by the hepatitis C virus (HCV). Hepatitis C is the most widespread blood-borne disease in the world, and it is mainly transferred by intravenous drug use. Unsafe sex and contact with infected blood can also spread HCV. There is no vaccination available in the market for hepatitis C. Furthermore, increasing prevalence of hepatitis C is expected to drive growth for the hepatitis C drugs market over the forecast period. For instance, according to the World Health Organization (WHO), in 2017, around 71 million people were infected by chronic hepatitis C globally. Moreover, the WHO considers Eastern Mediterranean and European regions to be the most affected regions with a prevalence rate of 2.3% and 1.5% respectively.

The global hepatitis C drugs market was valued at US$ 7,376.6 million in 2019, and is expected to exhibit a CAGR of 4.0 % over the forecast period (2019-2027).

Global Hepatitis C Drugs Market Share (%) Analysis, By Drug Type, 2019

Source: Coherent Market Insights Analysis (2019)

Increasing regulatory approval of drugs is expected to drive growth of the global hepatitis C drugs market

The hepatitis C drugs market is expected to witness significant growth over the forecast period, owing to increasing regulatory approval activities of hepatitis C drugs. For instance, in 2017, the U.S. Food and Drug Administration approved Mavyret (glecaprevir and pibrentasvir) drug for the treatment of adults with chronic hepatitis C virus (HCV) genotypes 1-6 without cirrhosis (liver disease). Mavyret drug is also approved for adult patients with HCV genotype 1 infection and those who have been earlier treated with a course of therapy either containing an NS5A inhibitor or an NS3/4A protease.

Furthermore, in 2016, AbbVie Company received the U.S. Food and Drug Administration (FDA) approval for its VIEKIRA XR (dasabuvir, ombitasvir, paritaprevir, and ritonavir) extended-release tablets for treatment of patients with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection.

Global Hepatitis C Drugs Market - Restraints

The high capital requirement for manufacturing hepatitis C treating drugs is expected to hamper growth of the hepatitis C drugs market over the forecast period. For instance, Hepatitis C drugs are costly, as its manufacturing process requires expensive raw materials such as active pharmaceutical ingredients (APIs) and drug intermediates. The production, isolation, and usage of raw materials for pharmaceutical and biopharmaceutical drug production, is a complex process and demands skilled workforce, which adds to the cost of pharmaceuticals,

Global Hepatitis C Drugs Market - Regional Insights

On the basis of region, the global hepatitis C drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global hepatitis C drugs market, owing to presence of major companies in the U.S. such as AbbVie Inc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., and Johnson & Johnson.

Asia Pacific is expected to be the fastest growing region in the global hepatitis C drugs market, owing to increasing approval of hepatitis C drugs in this region. For instance, in 2018, China Drug Administration (CDA) approved Epclusa (sofosbuvir 400 mg/velpatasvir 100 mg) of Gilead Sciences, Inc. for the treatment of adults with genotype 1-6 chronic hepatitis C virus (HCV) infection in China.

Global Hepatitis C Drugs Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

Source: Coherent Market Insights Analysis (2019)

Global Hepatitis C Drugs Market - Competitive Landscape

Key players operating in the global hepatitis C drugs market include 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.