Hepatitis C Drugs Market Size to Reach USD 7,351.7 Million by 2026; Improvement in Drug Efficacies Likely to Revive Growth

The global hepatitis C drugs market is likely to derive growth from increasing regulatory approvals in recent years. According to a report published by Fortune Business Insights, titled “Hepatitis C Drugs Market Size, Share & Industry Analysis, By Product (NS5A Inhibitor (Protease Inhibitors), Fixed-dose Combination, Others), By Disease Type (Acute Hepatitis C, Chronic Hepatitis C), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019-2026,” the market was valued at USD 7,866.6 Million in 2018. Fortune Business Insights states that the market is projected to reach USD 7,351.7 Million by 2026, exhibiting a CAGR of -0.9% in the forecast period.

The increasing number of product launches have opened the doors for the growth of several companies that are operating in the global hepatitis C drugs market. The business expansions of globally established companies will have a positive impact on the growth of the global market. AbbVie’s Mavyret was one of the most successful drugs of recent times.

Mavyret not only lifted sales and revenue of AbbVie but also had a direct positive impact on the global market. Fortune Business Insights states that Mavyret, along with several other drugs, has constituted an increase in the global hepatitis C treatments market value. The report encompasses several factors that have aided market growth. Besides this, the report also forecasts the global hepatitis C drugs market value for the period of 2019-2026.

Efficacy of Hepatitis C Drugs to Provide Platform for Growth

Recent advancements in the development of hepatitis C drugs have opened the doors for rapid adoption across the world. In addition to the increased efficiency, growing awareness regarding early detection and treatment of hepatitis C, resulting from its severe side effects, will enable the growth of the global hepatitis C drugs market in the coming years.

According to the Centers for Disease Control and Prevention (CDC) in 2016, around 3.5 million people in the United States suffered from chronic hepatitis C. Furthermore, there is an increased number of people suffering from acute hepatitis C. Such high prevalence of hepatitis C will provide huge opportunities for the companies operating in this market. Recent drug innovations associated with the treatment of hepatitis C will also aid the growth of the global hepatitis C drugs market in the forthcoming years.

Gilead and AbbVie Have Established Themselves as Leading Brands

AbbVie’s Mavyret was one of the renowned drugs which possessed exceptional treatment properties. Mavyret success helped AbbVie establish a strong market brand. With a strong product portfolio, AbbVie and Gilead are likely to emerge as the leading companies in the global hepatitis C drugs market in the forthcoming years.

Both the companies bagged approval for the commercialization of their respective drugs. Having said that, these companies are expected to witness a strong market competition from other companies in the coming years. Altogether, healthy market competition will emerge in favor of the global hepatitis C drugs market during the forecast period.

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.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/hepatitis-c-drug-market-101562

The global hepatitis C rugs market is segmented based on: