Global Hepatitis Drugs Market
Hepatitis B is a viral infection that affects the liver and subsequently leads to acute, chronic liver disorders. According to the World Health Organization (WHO) 2018, it is estimated that about 780,000 people die each year due to complications of hepatitis B, such as liver cirrhosis and liver cancer. Hepatitis B virus (HBV) is highly contagious, and is transmitted through contact with the blood or other body fluids of an infected person.
The global hepatitis drugs market was assessed at US$ 21,148.3 million in 2019, and is expected to witness a CAGR of 3.2% over the forecast period (2019-2027).
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The key players operating in the global hepatitis drugs market include Merck & Co. Inc., Gilead Sciences Inc., AbbVie Inc., Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., LAURUS Labs, Zydus Cadila, Hetero Healthcare Limited, GlaxoSmithKline PLC., and Cipla Inc.
Launch of new drugs and increasing regulatory approvals for hepatitis drugs is expected to drive the growth of the global hepatitis drug market
Increasing approvals for hepatitis drugs from regulatory authorities is expected to drive the global hepatitis drugs market growth during the forecast period. For instance, in 2016, the U.S. FDA approved the Elbasvir drug for the treatment of hepatitis C, Elbasvir is a highly potent and selective NS5A inhibitor of the hepatitis C virus NS5A replication complex.
Launch of new drugs for hepatitis treatment is expected to drive growth of the hepatitis drugs market over the forecast period. For instance, in 2018, Natco Pharma has launched a fixed dose combination of Sofosbuvir-Daclatasvir tablets for the treatment of Hepatitis C under the brand name Hepcinat Plus, in India.
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Global Hepatitis Drugs Market Restraints
The high capital investments required for the manufacture of hepatitis drugs is a significant aspect likely to hamper the growth of the global hepatitis drugs market over the forecast period. Hepatitis drugs are costly as the 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 requires a skilled workforce, which adds to the overall costs of pharmaceuticals.
Global Hepatitis Drugs Market – Regional Insights
North America is expected to hold a dominant position in the global hepatitis drugs market in the near future, owing to the increasing government initiatives being taken for the prevention of HBV infections. For instance, in 2017, the U.S. Department of Health And Human Service started the National Viral Hepatitis Action Plan 2017-2020 (Action Plan) to fight against viral hepatitis in the US. The plan outlines strategies to achieve four major goals between 2017 and 2020, such as preventing new viral hepatitis infections, reducing deaths and improving the health of people with viral hepatitis.
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Asia Pacific is foreseen to observe rapid growth in the global hepatitis drugs market over the forecast timeframe, owing to rising demand for generic drugs in this region. For instance, in 2015, Gilead licensed its hepatitis C drug, called Sovaldi, to seven generic drug manufacturers companies in India to make and sell a low-cost version of the medicine in 91 emerging economies.
- Global Hepatitis Drugs Market, By Drug Class:
- Interferon Alphas
- HIV NRTIs
- Nucleotide Polymerase / NS5A Inhibitor Combinations
- Hepatitis C Protease / NS5A Inhibitor Combinations
- NS5A Inhibitors
- Nucleotide Polymerase Inhibitors
- Nucleoside Analogue Antivirals
- Thrombopoiesis Stimulating Agents
- Global Hepatitis Drugs Market, By Disease Type:
- Hepatitis B
- Hepatitis C
- Global Hepatitis Drugs Market, By Route of Administration:
- Global Hepatitis Drugs Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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