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According to a report by Zion Market Research, the global Hepatitis C Drug market Size was valued at USD 20.5 billion in 2020 and is projected to reach USD 69.1 billion by 2028, expanding at a CAGR of approximately 16.3% from 2021 to 2028.
The market is divided into NS5A inhibitors, NS3/4A protease inhibitors, non-nucleoside polymerase inhibitors, nucleoside polymerase inhibitors, and combination therapy based on drug class. Due to their high efficacy and low toxicity, NS5A inhibitors dominated the market in 2020, holding the largest market share.
The market is segmented by distribution channel into hospital pharmacies, online pharmacies, and retail pharmacies. Due to the high demand for antiviral drugs in hospitals and the presence of skilled healthcare professionals, the hospital pharmacies segment will dominate the market in 2020.
The market is segmented geographically into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Due to the high prevalence of hepatitis C and the presence of key market players, North America dominated the market in 2020.
AbbVie Inc., Gilead Sciences, Inc., Merck & Co., Inc., Bristol-Myers Squibb Company, Johnson & Johnson, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Novartis AG, and Vertex Pharmaceuticals Incorporated are the key players in the global hepatitis C drug market. These businesses are concentrating on new product launches, partnerships, and collaborations in order to strengthen their market position and expand their product portfolio.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segment and region, company market share analysis, and COVID-19 impact analysis are covered in the report.
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Overview of the Global Hepatitis C Drug Market
Hepatitis is an inflammation of the liver characterized by bilirubin-yellowing eyes and skin, and flu-like symptoms including nausea, vomiting, headaches, loss of appetite, joint pain, and clay-colored stools.
Hepatitis C is a major public health concern that affected over 400,2 Million patients worldwide in 2019. Even more alarming, only 0.4 million patients were treated annually, demonstrating the need for increased screening and prompt diagnosis.
Partnerships, mergers, and acquisitions between market participants in the Hepatitis C Drug market are also anticipated to drive market expansion. For instance, in April 2019, the U.S. Food and Drug Administration (FDA) announced the approval of Mavyret by AbbVie as the first treatment ever approved for pediatric patients with all hepatitis C genotypes.
Regional Perspective:
In terms of revenue, North America dominated the hepatitis C drug market due to the widespread availability of hospitals. In addition, lifestyle-related factors such as unprotected sex and having multiple sex partners are now commonplace in European and North American nations. In addition, hepatitis C drug has enormous growth opportunities in emerging regions such as Latin America and the Asia-Pacific due to government initiatives, the increasing number of HCV patients, and healthcare infrastructure.
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