Global Hepatitis C Virus (HCV) Market To Benefit From Growing Number Of Patients

The hepatitis C virus (HCV) causes a common infection, which affects the liver and can lead to severe consequences if proper care is not taken on time. HCV spreads through poorly sterilized medical equipment and infected blood transfusions. The number of people affected by HCV has risen over the years as its symptoms are not easily recognizable. The symptoms of HCV are recognized only when a clinically visible liver damage is recognized. If not treated on time, the damaged liver could either fail completely or undergo severe damage. Before 2010, the market was marked by the lack of a proper treatment or therapy for the HCV virus. The introduction of therapies such as Viekira Pak by AbbVie and Sovaldi and Harvoni by Gilead has improved the situation. Today, leading players are focusing on the introduction of many new therapies to treat the HCV virus. Further, steps such as proper blood screening are expected to improve diagnosis drastically.

Some of the important factors expected to propel the global hepatitis C virus (HCV) market are better reimbursement policies, treatment of warehoused patients, improved economic growth, a smaller period of drug treatment, and others. Changing trends such as an increase in diagnosed patients, and the development of new products are predicted to propel the global hepatitis C virus (HCV) market further. However, the global hepatitis C virus (HCV) market is predicted to be affected by factors such as regulatory risks, an increase in reimbursement options, the increasing level of competition, and difficulties associated with patent and drug development in the near future.

As the therapies to treat HCV are costly, many reimbursement policies have been made available for patients. Also, a relatively smaller period of treatment for the warehoused patients is expected to open new growth opportunities in the global hepatitis C virus (HCV) market. Leading players in the global hepatitis C virus (HCV) market are taking efforts to introduce better regimens to stay afloat in the growing competition. A large number of patients willing to avail reimbursement, regulatory roadblocks, and the many risks associated with new drug development procedures are some of the factors expected to hamper the growth of the global hepatitis C virus (HCV) market in the next few years.

Companies such as Gilead Sciences, AbbVie, Johnson & Johnson, and Bristol-Myers Squibb are expected to maintain their dominance in the global hepatitis C virus (HCV) market until the end of the report’s forecast period. Furthermore, mergers and acquisitions with new entrants will not only give a chance to the new entrants to contribute to the market but also will help the leading players to expand their services.