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The global Hepatitis C Drug market will derive growth impetus from the high prevalence of hepatitis C across the world. According to a report published by Fortune Business Insights, titled “Hepatitis C Drug: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 7,866.6 Mn in 2018. Fortune Business Insights states that the market is projected to reach US$ 7,351.7 Mn by 2026, exhibiting a CAGR of -0.9% in the forecast period.
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Increasing Drug Approvals Will Favor Market Growth
The escalating demand for Hepatitis C Drug has yielded several regulatory approvals for associated drugs. Fortune Business Insights has predicted that increasing regulatory approvals for related drugs and recombinant products will constitute an increase in the global Hepatitis C Drug market value in the coming years. The Hepatitis C Drug industry has witnessed numerous drug approvals in recent years driven by the increasing fatality rate of the disease. In April 2019,
the United States Food and Drug Administration passed approval for Mavyret for the treatment of hepatitis C in pediatric patients. The Mavyret was the first treatment for all genotypes of hepatitis C. The 2017 approval for the same drug was aimed at the treatment of hepatitis C, but in patients without cirrhosis or mild cirrhosis of the liver. Fortune Business Insights has predicted that AbbVie’s successful drug approval will help the company generate a substantial amount of hepatitis C market value. The report includes some major regulatory approvals of recent times and gauges the impact of these drug approvals on the global Hepatitis C Drug market.
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Huge Hepatitis C Patient Pool Will Offer Growth Opportunities for the Market in North America
The high prevalence of hepatitis C has created a need for efficient drugs at low cost. Fortune Business Insights has identified increasing hepatitis C incidence as a primary growth driver. The increased adoption of Hepatitis C Drug will favor the growth of the market in North America. Fortune Business Insights has predicted that the Hepatitis C Drug market in North America will witness considerable growth, driven by the high demand for Hepatitis C Drug. Furthermore, recent drug advancements will fuel the demand for related drugs, subsequently aiding market growth. Fortune Business Insights states that the Hepatitis C Drug market in North America was valued at US$ 3,736.6 Mn in 2018.
Fortune Business Insights profiles a few of the prominent companies that are operating in the global market. Some of the leading companies that have established standout market positions are AbbVie Inc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, Janssen Pharmaceuticals, Inc., Merck Sharp and Dohme Corp., F. Hoffmann-La Roche Ltd, and Vertex Pharmaceuticals Incorporated.
Top players in the global Type 1 Hepatitis C Drug Market include:
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