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).
Hepatitis C is a liver infection that can cause permanent damage to the liver. Hepatitis C is the virus that causes it (HCV). Hepatitis C is the most common blood-borne disease in the world, and it is spread mostly through the use of intravenous drugs. HCV can also be spread through unsafe intercourse and contact with contaminated blood. Hepatitis C vaccine is not available on the market. Furthermore, throughout the forecast period, rising hepatitis C prevalence is expected to boost growth in the hepatitis C medications market. According to the World Health Organization (WHO), over 71 million persons worldwide were infected with chronic hepatitis C in 2017. Furthermore, the WHO considers the Eastern Mediterranean and European regions to be the most afflicted, with a prevalence rate of approximately 80%.
The global hepatitis C medications market is predicted to develop due to increased regulatory approval of drugs.
Due to increased regulatory approval activities for Hepatitis C Drugs Market medications, the market for hepatitis C drugs is likely to rise significantly over the forecast period. Mavyret (glecaprevir and pibrentasvir) was licensed by the US Food and Drug Administration in 2017 for the treatment of adults with chronic hepatitis C virus (HCV) genotypes 1-6 who do not have cirrhosis (liver disease). Mavyret is also approved for adult patients with HCV genotype 1 infection who have previously received treatment with either an NS5A inhibitor or an NS3/4A protease inhibitor.
Restraints in the Global Hepatitis C Drug Market
Over the projected period, the high capital requirement for manufacturing hepatitis C treatment medications is expected to limit the market's expansion. Hepatitis C medications, for example, are expensive because the production process necessitates the use of expensive raw materials such as active pharmaceutical ingredients (APIs) and pharmacological intermediates. The creation, isolation, and use of raw materials for pharmaceutical and biopharmaceutical drug production is a complex process that necessitates a specialised staff, raising pharmaceutical costs.
Competitive Landscape for Hepatitis C Drugs in the Global Market
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. are some of the major competitors in the worldwide hepatitis C medications market.
Due to increased regulatory approval activities for Hepatitis C Drugs Market medications, the market for hepatitis C drugs is likely to rise significantly over the forecast period. Mavyret (glecaprevir and pibrentasvir) was licensed by the US Food and Drug Administration in 2017 for the treatment of adults with chronic hepatitis C virus (HCV) genotypes 1-6 who do not have cirrhosis (liver disease). Mavyret is also approved for adult patients with HCV genotype 1 infection who have previously received treatment with either an NS5A inhibitor or an NS3/4A protease inhibitor.
Restraints in the Global Hepatitis C Drug Market
Over the projected period, the high capital requirement for manufacturing hepatitis C treatment medications is expected to limit the market's expansion. Hepatitis C medications, for example, are expensive because the production process necessitates the use of expensive raw materials such as active pharmaceutical ingredients (APIs) and pharmacological intermediates. The creation, isolation, and use of raw materials for pharmaceutical and biopharmaceutical drug production is a complex process that necessitates a specialised staff, raising pharmaceutical costs.
Competitive Landscape for Hepatitis C Drugs in the Global Market
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. are some of the major competitors in the worldwide hepatitis C medications market.
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