The increasing number of voluntary licensing agreements to drive market growth. Voluntary licensing helps in improving access to essential medicines. Under the voluntary licensing agreement, patent holders license others to manufacture, import, and/or distribute their patented drugs. Voluntary licenses enable the development of generic versions of drugs, which increases the affordability and access to the patients. analysts have predicted that the hepatitis C drugs market to register a revenue of around USD 5.7 billion by 2023.
Increasing demand for direct-acting antiviral
Direct-acting antiviral drugs have emerged as a curative option for patients with hepatitis C. These drugs act and block specific steps in the lifecycle of the HCV. They are known to target the specific nonstructural proteins of the virus that results in the disruption of viral replication. Thus, they show comparatively fewer side effects than the interferons, which were employed until the advent of direct-acting antiviral drugs.
Side effects of available drugs
The interferons indicated for the treatment of hepatitis C are known to be associated with harmful side effects such as excessive fatigue, headache, weight loss, alopecia, autoimmune disorders, high blood pressure, slowed growth in children, changes in vision, and malfunctioning of the lungs, liver, and pancreas. Due to these side effects, the interferon therapy is replaced by direct-acting antivirals at present.
For the detailed list of factors that will drive and challenge the growth of the hepatitis C drugs market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Gilead and Merck the competitive environment is quite intense. Factors such as the increasing demand for direct-acting antiviral and the increasing number of voluntary licensing agreements, will provide considerable growth opportunities to hepatitis C drugs manufactures. AbbVie, Bristol-Myers Squibb, F. Hoffmann-La Roche, Gilead, and Merck are some of the major companies covered in this report.