According to Coherent Market Insights, 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).
Key Trends and Analysis of the Global Hepatitis C Drugs Market:
The global hepatitis C drugs market is expected to witness significant growth over the forecast period. Key players such as Bristol-Myers Squibb taking initiative for the treatment of hepatitis C infection in Africa region. In 2016, Bristol-Myers Squibb provided hepatitis C drug Daklinza to treat 10,000 patients infected with hepatitis C for the next two years in African countries such as Ethiopia, Nigeria, and Rwanda.
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Moreover, the global hepatitis C drugs market is expected to account for major revenue share over the forecast period, owing to new product launches by key players. For instance, in 2018, Natco Pharma Limited launched Sofosbuvir-Daclatasvir tablets for the treatment of hepatitis C under the brand name Hepcinat Plus in India.
Major players in the hepatitis C drugs market are focused on strategic acquisitions to increase sales and distribution of their products across the globe. For instance, in 2014, Merck & Co., Inc. acquired Idenix Pharmaceuticals, Inc., a biopharmaceutical company that develops drugs for the treatment of human viral and other infectious diseases. The acquisition provided Merck access to Idenix’s portfolio of investigational hepatitis C therapies that include IDX21437, IDX21459, and Samatasvir.
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Key Market Takeaways:
- The global hepatitis C drugs market is expected to exhibit a CAGR of 4.0 % over the forecast period (2019-2027), owing to increasing regulatory approvals. For instance, in 2016, the Merck & Co., Inc. announced that it received approval from the U.S. Food and Drug Administration (FDA) for Zepatier (elbasvir and grazoprevir) for the treatment of adult patients with chronic hepatitis C virus (HCV) genotype (GT) 1 or GT4 infection, with or without ribavirin (RBV).
- Among regions, North America is expected to hold dominant position in the global hepatitis C drugs market over the forecast period, owing to increasing government initiatives for patient to receive expanded drug coverage. For instance, in 2018, the Ministry of Health and Long-Term Care of Ontario announced that all patients are eligible for Ontario Drug Benefit (ODP) irrespective of severity of their disease. Moreover, in 2018, Thunder Bay group, HIV / AIDS / hepatitis C education, and support services provider, expanded its access to medicines, as a result of successful negotiations between the provinces and drug manufacturers.
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Major players operating in the global hepatitis C drugs market include Abbvie Inc., Gilead Sciences, and Inc., BRISTOL-MYERS Squibb Company., F Hoffmann-la Roche Ltd, Merck & co., Inc., Johnson & Johnson, Natco Pharma Limited, and Kadmon Holdings, Inc.
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