Hepatitis Drugs Market to reach US$ 27,180.1 Million, Growth Opportunities 2020-2027, Owing to Increasing Government Initiatives and Drug Development for Hepatitis Treatment

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According Global Hepatitis Drugs Market Report, by Drug Class (Interferon Alphas, HIV NRTIs, Nucleotide Polymerase/NS5A Inhibitor Combinations, Hepatitis C Protease/NS5A Inhibitor Combinations, NS5A Inhibitors, Nucleotide Polymerase Inhibitors, Nucleoside Analogue Antivirals, and Thrombopoiesis Stimulating Agents), By Disease Type (Hepatitis B, Hepatitis C, and Others), by Route of Administration (Oral and injection), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global hepatitis drugs market was valued at US$ 21,148.3 million in 2019, and is projected to exhibit a CAGR of 3.2% over the forecast period (2019 – 2027).

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Increasing government initiatives to expand drug coverage is expected to propel growth of the global hepatitis drugs 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. Moreover, in 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.

R&D in direct acting antivirals (DAAs) is expected to aid in growth of the global hepatitis drugs market. 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). Moreover, according to Pharmaceutical Research and Manufacturers of America, the total cumulative savings of HCV treatment since the introduction of highly effective interferon-free DAAs are expected to reach US$ 12 billion by 2020.

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The market is witnessing emergence of new players. For instance, in 2018, Thunder Bay Group, a company that provides HIV/AIDS/Hepatitis C education and support services, expanded its presence into medicines, as a result of successful negotiations between provinces and drug manufacturers.

Among disease type, the Hepatitis B segment is expected to hold dominant position is the global hepatitis drugs market, owing to increasing prevalence of hepatitis B. For instance, according to World Health Organization (WHO), in 2015, 257 million people were living with chronic hepatitis B infection and 8, 87, 000 deaths occurred due to the disease, globally.

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Key Takeaways

• The global hepatitis drugs market is expected to expand at a CAGR of 3.2% during the forecast period (2019–2027)
• Increasing government initiatives to expand drug coverage is expected to propel growth of the global hepatitis drugs market
• 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.

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