Hepatitis C is a liver infection that can lead to serious liver damage. It’s caused by the hepatitis C virus (HCV). Hepatitis C is the most widespread blood-borne disease in the world, and it is mainly transferred by intravenous drug use. Unsafe sex and contact with infected blood can also spread HCV. There is no vaccination available in the market for hepatitis C. Furthermore, increasing prevalence of hepatitis C is expected to drive growth for the hepatitis C drugs market over the forecast period. For instance, according to the World Health Organization (WHO), in 2017, around 71 million people were infected by chronic hepatitis C globally. Moreover, the WHO considers Eastern Mediterranean and European regions to be the most affected regions with a prevalence rate of 2.3% and 1.5% respectively.
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).
Global Hepatitis C Drugs Market Share (%) Analysis, By Drug Type, 2019
Source: Coherent Market Insights Analysis (2019)
Increasing regulatory approval of drugs is expected to drive growth of the global hepatitis C drugs market
The hepatitis C drugs market is expected to witness significant growth over the forecast period, owing to increasing regulatory approval activities of hepatitis C drugs. For instance, in 2017, the U.S. Food and Drug Administration approved Mavyret (glecaprevir and pibrentasvir) drug for the treatment of adults with chronic hepatitis C virus (HCV) genotypes 1-6 without cirrhosis (liver disease). Mavyret drug is also approved for adult patients with HCV genotype 1 infection and those who have been earlier treated with a course of therapy either containing an NS5A inhibitor or an NS3/4A protease.
Furthermore, in 2016, AbbVie Company received the U.S. Food and Drug Administration (FDA) approval for its VIEKIRA XR (dasabuvir, ombitasvir, paritaprevir, and ritonavir) extended-release tablets for treatment of patients with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection.
Global Hepatitis C Drugs Market - Restraints
The high capital requirement for manufacturing hepatitis C treating drugs is expected to hamper growth of the hepatitis C drugs market over the forecast period. For instance, Hepatitis C drugs are costly, as its 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 demands skilled workforce, which adds to the cost of pharmaceuticals,
Global Hepatitis C Drugs Market - Regional Insights
On the basis of region, the global hepatitis C drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global hepatitis C drugs market, owing to presence of major companies in the U.S. such as AbbVie Inc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., and Johnson & Johnson.
Asia Pacific is expected to be the fastest growing region in the global hepatitis C drugs market, owing to increasing approval of hepatitis C drugs in this region. For instance, in 2018, China Drug Administration (CDA) approved Epclusa (sofosbuvir 400 mg/velpatasvir 100 mg) of Gilead Sciences, Inc. for the treatment of adults with genotype 1-6 chronic hepatitis C virus (HCV) infection in China.
Global Hepatitis C Drugs Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
Source: Coherent Market Insights Analysis (2019)
Global Hepatitis C Drugs Market - Competitive Landscape
Key players operating in the global hepatitis C drugs market include Abbvie Inc., Gilead sciences, Inc., BRISTOL-MYERS Squibb Company., F Hoffmann-la Roche Ltd, Merck & co., Inc., Johnson & Johnson, Natco Pharma Limited, and Kadmon holdings, Inc.
Hepatitis C virus is a blood-borne virus that infects liver cells, resulting in illness that ranges from mild and transient effects such as easy bleeding, fatigue, yellow discoloration of skin and eyes, and others to chronic and serious life-threatening conditions such as liver cirrhosis, liver cancer or liver failure. Hepatitis C virus is transmitted through needlestick injuries, organ transplant from a carrier, and sexually or from infected mother to fetus.
Globally, hepatitis C virus exists in six distinct forms based on its genotypes, amongst which Type 1 is the most common form representing around 60-70% of global infections. Hepatitis C is diagnosed by blood tests for estimating viral load and genotyping, and liver damage tests such as magnetic resonance elastography (MRE), transient elastography, and liver biopsy. Antiviral drugs, which inhibits protease or polymerase enzyme of virus is one of the treatments available for infection caused due to hepatitis C. Currently, no vaccines are available for the prevention of hepatitis C virus and this provides scope for the market players to expand their company portfolio.
Increasing prevalence of hepatitis C is expected to drive growth of hepatitis C drugs market over the forecast period. For instance, in 2018, according to the Centers for Disease Control and Prevention (CDC), around 3.9 million of U.S. population suffered from hepatitis C. Hepatitis C virus (HCV) infection is a commonly found blood borne infection in the U.S.
Moreover, in Canada, 246,000 number of Canada population suffered with HCV disease in 2017, wherein around 44% were unaware about HCV infection.
However, high cost of hepatitis C treatment is expected to hamper growth of the hepatitis C drugs market during the forecast period. For instance, in the U.S., a 12-week course of Sovaldi costs around US$ 84,000, where one pill costs around US$ 1,000. Similarly, Olysio drug costs around US$ 23,600 per month of hepatitis C treatment and treatment period for this drug was around 24-48 weeks.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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