Hepatitis Drugs Market 2019: Increasing launches of new drugs by Top Key Players Merck & Co. Inc., Gilead Sciences Inc., AbbVie Inc., Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., LAURUS Labs, Zydus Cadila, Hetero Healthcare Limited, GlaxoSmith

Hepatitis refers to an inflammatory condition of the liver. Viral infections of the liver classified as hepatitis include hepatitis A, B, C, D, and E. Hepatitis A is an acute, short-term disease, while hepatitis B, C, and D are most likely to become ongoing and chronic. Hepatitis E is usually acute but can be particularly dangerous in pregnant women which increase maternal and fetal mortality and morbidity.

Increasing prevalence of hepatitis worldwide is expected to boost growth of the hepatitis drugs market. According to World Health Organization (WHO), in 2015, 257 million people were living with chronic hepatitis B infection, and in 2016, while 4.5 million (16.7%) of the people were diagnosed with hepatitis B . Hepatitis B can be prevented by safe and effective vaccines. Additionally, the WHO aims for eliminating viral hepatitis infections which include 90% reduction of new infections, 65% reduction in deaths resulting from viral hepatitis infections worldwide by 2030.

Request Sample Copy of this Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/2977

However, factors such as longer development and approval time for hepatitis drugs is expected to hinder growth of the hepatitis drugs market during the forecast period. For instance, according to the National Center for Biotechnology Information 2017, the development of a new medicine for hepatitis from target identification through approval for marketing, takes 12 years or longer.

Increasing number of government initiatives aimed at expanding drug coverage is expected to drive growth of the market. For instance, in 2018, the Ministry of Health and Long-Term Care of Ontario announced that all patients are eligible for Ontario Drug Benefit (ODP) irrespective of severity of their disease. In the same year, Thunder Bay group, a company that provides HIV/AIDS/Hepatitis C education and support services, expand its presence into medicines, as a result of successful negotiations between provinces and drug manufacturers.

Moreover, availability of Hepatitis C drugs is expected to increase over the forecast period due to increasing drug development. Growth of the hepatitis drugs market is being driven by direct acting antivirals (DAAs), which aid the development of highly effective, INF-free hepatitis C drugs. The product pipeline of market players consists of dual as well as triple DDA combinational therapies against the hepatitis C virus.

A combination of drugs is more effective for the treatment of hepatitis C as compared to single regimen. For instance, in 2016, Gilead submitted a new drug application of a fixed-dose combination SOF/VEL/voxilaprevir for treatment of HCV genotypes 1–6 to the U.S. FDA. Moreover, in January 2017, drug assessment of the SOF/VEL/voxilaprevir combination was granted by the European Medicines Agency (EMA).

Additionally, on 28th July 2018 (World Hepatitis Day) the National Viral Hepatitis Control Program was launched by the Ministry of Health and Family Welfare, Government of India. It is an integrated initiative for the prevention and control of viral hepatitis in India to achieve Sustainable Development Goal (SDG), which aims to end viral hepatitis by 2030.

The global hepatitis drugs market is expected to expand at a CAGR of 3.2% during the forecast period (2019–2027), owing to increasing government initiatives and drug development for hepatitis treatment.

Among disease type, Hepatitis B is expected to hold major revenue share in 2026, owing to increasing global prevalence of hepatitis B. For instance, according to world health organization (WHO) estimates, in 2015, 257 million people were living with chronic hepatitis B infection, and 8, 87, 000 deaths occurred due to hepatitis B globally.

Major players operating in the global hepatitis drugs market include Merck & Co. Inc., Gilead Sciences Inc., AbbVie Inc., Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., LAURUS Labs, Zydus Cadila, Hetero Healthcare Limited, GlaxoSmithKline PLC., and Cipla Inc.

Purchase Copy of This Business Research Report: https://www.coherentmarketinsights.com/insight/buy-now/2977

Contact Us:
Mr. Raj Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

About Us:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.