Integration of Telemedicine and Digital Platforms Enhances Patient Monitoring and Adherence in Hepatitis C Care.
Integration of Telemedicine and Digital Platforms Enhances Patient Monitoring and Adherence in Hepatitis C Care.
The global hepatitis C treatment market is expected to reach US$ 71,133.3 million by 2024 and is forecast to reach a value of US$ 2,45,215.5 million by 2034, with a projected CAGR of 13.2% from 2024 to 2034. Leading manufacturers are developing and promoting hepatitis C treatments despite the negative factors. Government campaigns to increase knowledge about hepatitis and its treatment accelerate the growth of the hepatitis C treatment market.
Emerging countries like Brazil, China, and India have a larger patient pool than developed countries. As a result, there is a higher demand for hepatitis C treatment. Few countries and their governments have implemented initiatives to stop the spread of hepatitis C, such as subsidizing specific treatments or allocating extra funds for programs that address the infection. Many for-profit organizations educate and increase public awareness of the hepatitis C virus. These can be considered market factors for hepatitis C treatments.
Regional Outlook
The lucrative revenue share from North America is anticipated from 2024 to 2034. The population's growing health consciousness propels the demand for improved hepatitis C virus (HCV) treatment alternatives. The market expansion of hepatitis C treatment is likely to be accelerated by rising healthcare costs and the availability of treatment options. These factors compel the growth of the hepatitis C treatment market in North America.
Asia Pacific's hepatitis C treatment market is expected to expand at a noteworthy 15.5% CAGR by 2033. The number of elderly people is rising significantly in nations like China and India. Growth in healthcare facilities and the existence of generic producers are the primary catalysts of revenue growth. These crucial elements are going to boost the rise of hepatitis C virus treatment market revenue between 2024 and 2034.
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Key Takeaways
“Recent technological advancements, rising awareness, and changing treatment environments define the hepatitis C virus treatment market. Opportunities for hepatitis C treatment market expansion are highlighted by rising prevalence, diagnosis rates, and continuing research; moreover, impediments to access and cost still need to be addressed.” Says a Fact.MR Analyst
Competitive Landscape
Market competition for hepatitis C treatment is intense and is fueled by strategic alliances, continuous research, and regulatory advancements. Significant hepatitis C treatment vendors compete to be the market leader by focusing on cost, effectiveness of therapy, and accessibility globally. The hepatitis C treatment market landscape is dynamic, with established pharmaceutical players and emerging biotech companies focusing on unmet medical needs.
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Noteworthy Developments
Key Companies Profiled-
Bristol-Myers Squibb Company; Gilead Sciences, Inc.; Abbvie; Kadmon Holdings Inc.; F. Hoffmon La Roche Ltd.; GlaxoSmithKline; Johnson & Johnson; Lupin Pharmaceuticals, Inc.; Merck & Co., Inc.; Teva Pharmaceuticals; Zydus Pharmaceuticals
Industry News-
An observational study evaluating the effects of direct-acting antivirals on the mother-infant outcome after antenatal treatment for hepatitis C has been ongoing since February 2022.
A multicenter trial using a fixed dosage combination of sofosbuvir andvelpatasvir for treating acute hepatitis C over eight weeks was concluded in June 2021.
In April 2019, the U.S. Food and Drug Administration (FDA) approved Mavyret (glecaprevir and pibrentasvir) tablets for the treatment of children 12 to 17 years old with all six genotypes of the hepatitis C virus (HCV). Mavyret was approved in 2017 to treat adult HCV.
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Hepatitis C is a viral infection that affects the liver, leading to inflammation and potential liver damage. It is primarily spread through blood-to-blood contact.
CAGR stands for Compound Annual Growth Rate. It is a useful measure to understand the mean annual growth rate of an investment over a specified time period, assuming the investment grows at a steady rate.
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