Hepatitis C Drugs Market - What are the Short and long-term actions taken by Key Players During Coronavirus Pandemic? Prominent Players : Abbvie Inc. , Gilead Sciences Inc. , Bristol-Myers Squibb Company , Janssen Pharmaceuticals Inc. , Merck Sharp & Dohm
Hepatitis C is a viral infection that causes severe damage such as inflammation of the liver and can spread through contaminated blood. The advanced stages of hepatitis C can also lead to liver damage, thereby creating severe health risks. The severity of hepatitis C has created a huge emphasis on the research and development of drugs associated with the treatment of this disease. Several new drugs have been launched in recent times, due to the high prevalence of hepatitis C across the world. Hepatitis C requires oral injections and dosages on a weekly basis, and it also has several side effects that can also lead to permanent damage. Increasing clinical trials and successful drug clearances have aided the overall growth of the global hepatitis C market. Increasing number of regulatory approvals will boost the global hepatitis C market in the forthcoming years.
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The report covers :
o Global Hepatitis C Drugs Market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast time frame.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
An Overview of the Impact of COVID-19 on this Market :
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Increasing Drug Approvals Will Favor Market Growth
The escalating demand for hepatitis C drugs 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 drugs market value in the coming years. The hepatitis C drugs 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 drugs market.
Leading Players operating in the Hepatitis C Drugs Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
• Abbvie Inc.
• Gilead Sciences Inc.
• Bristol-Myers Squibb Company
• Janssen Pharmaceuticals Inc.
• Merck Sharp & Dohme Corp.
• F.Hoffmann-La Roche Ltd
• Vertex Pharmaceuticals Incorporated
• Other Prominent Players
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 drugs will favor the growth of the market in North America. Fortune Business Insights has predicted that the hepatitis C drugs market in North America will witness considerable growth, driven by the high demand for hepatitis C drugs. Furthermore, recent drug advancements will fuel the demand for related drugs, subsequently aiding market growth. Fortune Business Insights states that the hepatitis C drugs 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 & Dohme Corp., F. Hoffmann-La Roche Ltd, and Vertex Pharmaceuticals Incorporated.
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