Seattle, WA -- (SBWIRE) -- 09/27/2019 -- Increasing number of government initiatives aimed at expanding drug coverage is expected to drive growth of the 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. In the same year, Thunder Bay group, a company that provides HIV/AIDS/Hepatitis C education and support services, expand its presence into medicines, as a result of successful negotiations between provinces and drug manufacturers.
Moreover, availability of Hepatitis C drugs is expected to increase over the forecast period due to increasing drug development. Growth of the hepatitis drugs market is being driven by direct acting antivirals (DAAs), which aid the development of highly effective, INF-free hepatitis C drugs. The product pipeline of market players consists of dual as well as triple DDA combinational therapies against the hepatitis C virus. A combination of drugs is more effective for the treatment of hepatitis C as compared to single regimen. 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).
Request Sample Copy of This Business Research Report - https://www.coherentmarketinsights.com/insight/request-sample/2977
Additionally, on 28th 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.
Increasing prevalence of hepatitis worldwide is expected to boost growth of the hepatitis drugs market. According to World Health Organization (WHO), in 2015, 257 million people were living with chronic hepatitis B infection, and in 2016, while 4.5 million (16.7%) of the people were diagnosed with hepatitis B . Hepatitis B can be prevented by safe and effective vaccines. Additionally, the WHO aims for eliminating viral hepatitis infections which include 90% reduction of new infections, 65% reduction in deaths resulting from viral hepatitis infections worldwide by 2030.
However, factors such as longer development and approval time for hepatitis drugs is expected to hinder growth of the hepatitis drugs market during the forecast period. For instance, according to the National Center for Biotechnology Information 2017, the development of a new medicine for hepatitis from target identification through approval for marketing, takes 12 years or longer.
Request PDF Brochure of This Business Research Report - https://www.coherentmarketinsights.com/insight/request-pdf/2977
Detailed Segmentation:
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
Thrombopoiesis Stimulating Agents
By Disease Type:
Hepatitis B
Hepatitis C
Others
By Route of Administration:
Oral
Injection
Global Hepatitis Drugs Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Company Profiles
Merck & Co. Inc.*
Gilead Sciences Inc.
AbbVie Inc.
Bristol Myers Squibb Company
Hoffmann-La Roche Ltd.
LAURUS Labs
Zydus Cadila
Hetero Healthcare Limited
GlaxoSmithKline PLC
Cipla Inc.
To view the original version on The Express Wire visit https://www.coherentmarketinsights.com/market-insight/hepatitis-drugs-market-2977
About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.