Global Hepatitis Drugs Market to surpass US$ 27,180.1 million by 2027 – Coherent Market Insights

SEATTLE--(BUSINESS WIRE)-- According to 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).

Key Trends and Analysis of the Hepatitis Drugs Market:

The hepatitis drugs market size is expected to witness remarkable growth over the forecast period owing to increasing prevalence of hepatitis. For instance, according to the World Health Organization (WHO), in 2017, around 71 million people were infected by chronic hepatitis C worldwide. Furthermore, WHO considers Middle East and Europe to be the most affected regions with the prevalence rate of 2.3% and 1.5% respectively. Moreover, in 2016, according to the Centers for Disease Control and Prevention, around 2.7 to 3.9 million people in the U.S. suffer from hepatitis C.

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Besides, the hepatitis drugs market is expected to foresee the launch of generic versions of existing brands. For instance, in 2018 Gilead Sciences launched generic versions of Harvoni and Epclusa, products approved for the treatment of Hepatitis C.

Various companies are focusing on research and development to expand their portfolio of hepatitis drug treatments which is expected to drive the hepatitis drug market growth. For instance, in April 2019, The US FDA approved Mavyret (glecaprevir and pibrentasvir) tablets for the treatment of all six genotypes of hepatitis C virus (HCV) in children ages 12 to 17. Mavyret was already approved to treat the HCV adults in 2017.

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Key Market Takeaways:

• The global hepatitis drugs market is projected to witness CAGR of 3.2% during the forecast period (2019 – 2027), owing to increasing number of regulatory approvals of hepatitis drugs. For instance, in 2017 Gilead Sciences, Inc. announced that the European Commission had granted marketing authorization for Vemlidy (tenofovir alafenamide) for the treatment of chronic hepatitis B virus (HBV) infection in adults and adolescents (aged 12 years and older).
• Among region, North America is expected to hold a dominant position in the global hepatitis drug market over the forecast period, owing to increasing healthcare expenditure. For instance, according to the U.S. National Health Expenditures Highlights of 2017, healthcare expenditure increased by 4.6% to US$ 1.1 trillion in 2017.

• Major players operating in the global hepatitis drug 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.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/hepatitis-drugs-market-2977

Report Segmentation

• Global Cannabis Testing Services Market, By Test Type:
  • Potency Testing
  • Terpene Profiling
  • Cannabinoid Profiling
  • Pesticide Screening
  • Residual Solvent Testing
  • Microbiological Screening
  • Other Tests
• Global Cannabis Testing Services Market, By End User:
  • Cannabis Firms
  • Homecare Settings
  • Research Institutes
• Global Cannabis Testing Services Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Europe
    • By Country:
      • U.K.
      • Germany
      • Italy
      • Spain
      • France
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • Australia
      • India
      • China
      • Japan
      • ASEAN
      • South Korea
      • Rest of Asia Pacific
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa
• Company Profiles

View source version on businesswire.com: https://www.businesswire.com/news/home/20190826005312/en/