The global hepatitis C drugs market size is projected to expand at a CAGR of 13% during the forecast period, 2021-2028. The growth of the market is attributed to rising prevalence of hepatitis across the globe. Moreover, rising government subsidies and reimbursement policies is driving the market growth.
Hepatitis C is a viral infection caused by hepatitis C virus. It affects between 130–150 million people globally every year of which approximately 700,000 people die from hepatitis C-related liver diseases. It leads to liver cirrhosis, which may develop complications, such as liver failure, liver cancer, or esophageal and gastric varices.
Early stage of infection typically has no symptoms. Sharing needles, unsterilized medical equipment, and blood transfusion from infected mother to new born baby can lead to hepatitis C virus (HCV).
Market Drivers, Restraints, Trends, and Opportunities
- Increasing screening, especially in developing nations, is speculated to propel the growth of the market.
- Rising demand for direct-acting antivirals is anticipated to boost the growth of the hepatitis C drugs market.
- Growing awareness regarding the hepatitis C infection through private NGOs and educated millennials is driving the market growth.
- Stringent regulatory norms can halt early approvals and derail commercialization of products, which can hamper the market growth in the projected timeline.
- High cost of the drugs can restraint the growth of the market.
- Various companies are getting involved in the development of hepatitis C treatment drugs. This would lead to development of new drugs, which positively influence the market growth.
Scope of Hepatitis C Drugs Market Report
The report on the global hepatitis C drugs market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Hepatitis C Drugs Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Type (Anti-viral, Immunomodulators, and Others) and Applications (Hospitals and Clinics)
North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Bristol-Myers Squibb Company, Merck & Co., Inc., F Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Johnson & Johnson, Kadmon Holdings, Inc., and Merck & Co., Inc., Johnson & Johnson, and AbbVie Inc.
Hepatitis C Drugs Market Segment Insights
Immunomodulators segment to account a considerable market share
Based on types, the market is segmented into anti-viral, immunomodulators, and others.
The immunomodulators segment is estimated to hold a large market share of the hepatitis C drugs market. It is considered as the efficient therapy for the treatment of the disease. This segment is anticipated to expand at a high CAGR due to its favorable characteristics, such as effectiveness across all the genotypes of Hepatitis C.
Hospitals to account a significant market share
On the basis of applications, the market is segregated as hospitals and clinics.
The hospital segment is anticipated to hold a significant major market share owing to rising dispensations of drugs through these institutions to ensure an improved safety and guidance regarding the administration of therapeutics.
The market in Asia Pacific to project a high CAGR
In terms of regions, the market is classified as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The market in Asia Pacific is expected to exhibit a CAGR of 14.8% during the forecast period owing to rising patient pool undertaking treatment for hepatitis C. Growing awareness regarding the screening tests is driving the market growth in the region. Moreover, increasing number of contract research organizations (CROs) and contract manufacturing organizations (CMOs) in countries such as India and China is proliferating the growth of the market in Asia Pacific.
The global hepatitis C drugs market has been segmented on the basis of
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Some of the leading manufacturers in the global hepatitis C drugs market are Bristol-Myers Squibb Company, Merck & Co., Inc., F Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Johnson & Johnson, Kadmon Holdings, Inc., and Merck & Co., Inc., Johnson & Johnson and AbbVie Inc.
Major companies are engaging in improving their brand presence through strong distribution channel and advertising. While some of them are engaging in partnerships, acquisitions, and mergers to expand their market share.