HEPATITIS C DRUGS MARKET ANALYSIS

Market Challenges And Opportunities

Hepatitis C Drugs Market Drivers:

• Growing Prevalence of Hepatitis C Globally: Increasing prevalence of hepatitis C globally is expected to drive the market growth over the forecast period. For instance, according to the data published by the World Health Organization on July 18, 2023, globally, an estimated 58 billion people have chronic hepatitis c virus infection, with about 1.5 billion new infections occurring per year. There are an estimated 3.2 billion adolescents and children with chronic hepatitis c infections.
• Increasing Government Initiatives: the Ministry of Health & Family Welfare Government of India has initiated the National Viral Hepatitis Control Program, the aim of the program is to combat hepatitis and achieve countrywide elimination of Hepatitis C by 2030.
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Hepatitis c drugs market Opportunities:

• Increasing Product Availability in Various Regions: Increasing availability of products globally will increase the yearly revenues of the product, which is expected to propel the market growth over the forecast period. For instance, on July 20, 2023, The Drug Technology Institute (Farmanguinhos) with Oswaldo Cruz Foundation (Fiocruz) signed a technical and scientific cooperation agreement with the Drugs for Neglected Diseases initiative (DNDi) and Pharco Pharmaceuticals in Egypt to request the registration of ravidasvir, a hepatitis C treatment.

Hepatitis C Drugs Market Trends:

• Increasing Partnerships among Market Players: Increasing partnerships among the market players will drive the market growth over the forecast period. For instance, on November 12, 2018, AbbVie, a pharmaceutical company, and the Medicines Patent Pool (MPP) entered into a new, royalty-free licensing agreement to accelerate access to AbbVie’s pan-genotypic hepatitis C virus (HCV) treatment glecaprevir/pibrentasvir (G/P) in 99 low- and middle-income countries and territories.

Hepatitis C drugs market Restraints:

• Increasing Adverse Effects: Increasing adverse effects of the products is expected to hinder the market growth over the forecast period. For instance, according to the data published by the U.S. Food and Drug Administration (FDA) on August 28, 2019, the Food and Drug Administration (FDA) received reports that the use of Mavyret, Zepatier, or Vosevi to treat chronic hepatitis C in patients with moderate to severe liver impairment has resulted in rare cases of worsening liver function or liver failure.

Market players should focus on the adverse effects causing due to consumption of the drugs products, and work towards minimizing the adverse effects which aid in the market growth over the forecast period.