Global Hepatitis C Drugs Market, By Drug Class (NS3/4A Protease Inhibitors, NS5A Inhibitors, NS5B Polymerase Inhibitors, Combination Drugs, and Others), By Route of Administration (Oral Drugs, Intravenous, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 8.60 Billion in 2023 and is expected to exhibit a CAGR of 4.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as the launch of clinical trial for the development of the innovative treatment of hepatitis c. For instance, on April 30, 2019, the U.S. Food and Drug Administration (FDA) approved glecaprevir/pibrentasvir tablets (Mavyret) to treat all 6 hepatitis C virus (HCV) genotypes in children aged 12-17 years old.
Global Hepatitis C Drugs Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of things from one place to another.
COVID-19 had a negative impact on the global hepatitis C drugs market. For instance, according to the data published by the National Center for Biotechnology Information (NCBI) in June 2022, patients with hepatitis C during the COVID-19 pandemic were significantly less likely to complete therapy, obtain laboratory tests, and achieve a clinical-defined cure.
Global Hepatitis C Drugs Market: Key Developments
On May 31, 2023, Fiocruz, which promotes health and social development through the Institute of Drug Technology (Farmanguinhos/Fiocruz), signed a technical and scientific partnership agreement with the Drugs for Neglected Diseases Initiative (DNDi) and the Egypt-based pharmaceutical company Pharco Pharmaceuticals to request the registration of the drug Ravidasvir, for the treatment of hepatitis C, at the National Health Surveillance Agency (Anvisa).
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Hepatitis C Drugs Market”- Forecast to 2030, Global Hepatitis C Drugs Market, By Drug Class (NS3/4A Protease Inhibitors, NS5A Inhibitors, NS5B Polymerase Inhibitors, Combination Drugs, Others), By Route of Administration (Oral Drugs, Intravenous, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/hepatitis-c-drugs-market-1489
Key Takeaways of the Global Hepatitis C Drugs Market:
- The global hepatitis C drugs market is expected to exhibit a CAGR of 4.1% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global hepatitis C drugs market.
- Among drug class, the n NS3/4A Protease Inhibitors segment is expected to hold a dominant position in the global hepatitis C drugs market during the forecast period
- Among region, North America is expected to be the dominant region in the global hepatitis C drugs market, owing to the increasing prevalence of hepatitis C in the region. For instance, according to the data published by the American Liver Foundation on August 1, 2023, an estimated 7 – 3.9 Billion people in the U.S. have chronic Hepatitis C.
- Major players operating in the global hepatitis C drugs market are Gilead Sciences, AbbVie, Merck & Co, Bristol-Myers Squibb, Johnson & Johnson, F. Hoffmann-La Roche AG, Boehringer Ingelheim, and Achillion Pharmaceuticals.
