Global Hepatitis C Treatment Market to Witness 3.1% CAGR During 2016 to 2024

The increasing prevalence of hepatitis C is attributed to unsterilized medical equipment, sharing needles and blood transfusion from mother to newly born baby. Leading market players are concentrating on hepatitis C treatment medication development which is resulting into new product development. The number of hepatitis C patients is more in developing economies such as Brazil, India and China as compared to developed economies. Different countries have various regulation bodies that approve drugs for treatment of disease. Drugs are not easily approved by these regulation bodies resulting in product unavailability in the market.

However, several NGOs are creating awareness and educating the people for fighting against hepatitis C disease. This is expected to drive the overall market for hepatitis C treatment. The global hepatitis C treatment market is anticipated to reach a market value of US $71.13 billion by 2024 end and witness 3.1% CAGR during 2016 to 2024 according to the report by Persistence Market Research (PMR).

Hepatitis C: A Battleground For Lawsuits

Hepatitis C, the liver disease, is a battleground for lawsuits intending to reduce the cost of medicines for treatment of disease. In February itself, 5 suits were filed in Argentina and India claiming that the newest class of antiviral drugs’ doesn’t warrant 20-year patent monopoly sought by manufacturers in these countries. In the previous decade, successful challenges attributed to patents regarding HIV drugs provided poor nations with access to high-quality comprehensive copies of medications at significantly low prices. Driven by that success, same strategy is applied by activists on the new wave of hepatitis C drugs.

The standard 12-week treatment course for patients suffering from hepatitis C costs over average annual salary of people in middle-income economies. Experts of public-health covey that access expansion of drugs would result into immediate benefits. Approximately 177.5 million adults across the globe suffer from hepatitis C which can result into cirrhosis or liver cancer if treatment is ignored. However the care is revolutionized owing to latest antiviral medications.

pCPA’s Agreement With Six Breakthrough Hepatitis C Medication Makers to Fight Against the Spread of Disease

The Canadian provinces had a pact with three pharmaceutical companies for the cost reduction in ultra-expensive drugs which has resulted into public funding for medications for thousands of Canadians suffering from mild chronic hepatitis C disease. The pan-Canadian Pharmaceutical Alliance, negotiating prices for provincial & territorial public drug programs, made an announcement on Tuesday regarding an agreement with six breakthrough makers of hepatitis C medications including Sovaldi and Harvoni.

A short time after pCPA’s confirmation of the deal, the British Columbia government made a declaration that its PharmaCare program will commence enveloping the drugs for people with chronic hepatitis C, in spite of its type and severity, in 2018. This is an important deflection from British Columbia’s present policy restricting public funding of drugs to people with particular genotypes of advanced liver scarring and hepatitis C. The latest generation of direct-acting antivirals of hepatitis C is an impressive improvement compared to traditional treatments.

San Francisco to Come Up with An Effective Treatment for Wiping Out Hepatitis C infection In Next Ten Years

San Francisco is on the verge of transmuting into the first city in U.S. in eliminating hepatitis C owing to its ambitious plan of curing every individual suffering from it and restricting the spread of this infectious disease which may result into severe liver damage. An effective and easy to take new cure along with rising enthusiasm for programs on increasing healthcare access has convinced public health officials and doctors that the virus can be wiped out over the next ten years. The key role of the plan is identifying individuals infected by hepatitis C while convincing insurers in funding the significantly expensive treatment. Hepatitis C forms a part of family of viruses causing inflammation in liver and other systemic problems of the human body. The transmission of virus takes course through blood, similar to HIV, even though hepatitis C virus is more infectious than HIV virus.

For more information visithttp://www.persistencemarketresearch.com/market-research/hepatitis-c-treatment-market.asp

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