Hepatitis Drugs Market Size, Share, Development, Growth
Date
2/13/2021 1:18:58 AM
(MENAFN- Coherent Market Insights) High prevalence of hepatitis is expected to propel growth of the global hepatitis drugs market. For instance, in May 2019, according to the study, ‘Prevalence of hepatitis B surface antigen (HBsAg) positivity and its associated factors in Rwanda’, published in May 2019, in BMC Infectious Diseases, the prevalence of hepatitis B surface antigen was 3.9% in the study population. Moreover, development of novel diagnostic tests is also expected to aid in growth of the market. For instance, in January 2019, LabCorp, along with its subsidiary Covance Inc., partnered with GENFIT, a biopharmaceutical company focused on R&D in liver diseases, for access to non-alcoholic steatohepatitis liver diagnostic test for the clinical research market.
Increasing awareness regarding hepatitis is expected to offer lucrative growth opportunities for players in the global hepatitis drugs market. For instance, in May 2020, Echosens, a provider of non-invasive diagnostic products and services for liver diagnosis, urged increased vigilance around liver health during May 2020 Hepatitis Awareness Month. Moreover, R&D in new therapies is also expected to aid in growth of the market. For instance, in December 2020, Aligos Therapeutics, Inc. entered into an Exclusive License and Research Collaboration Agreement with Merck, under which Merck and Aligos will apply Aligos’ oligonucleotide platform technology to discover, research, optimize and develop oligonucleotides directed against a non-alcoholic steatohepatitis (NASH) target and up to one additional target of interest in the cardiometabolic/fibrosis space.
Competitive Analysis
Major players operating in the global hepatitis drugs market include, Merck & Co. Inc., Gilead Sciences Inc., AbbVie Inc., Bristol Myers Squibb Company, Gilead Sciences, F. Hoffmann-La Roche Ltd., LAURUS Labs, Zydus Cadila, Hetero Healthcare Limited, GlaxoSmithKline PLC., and Cipla Inc.
Major players operating in the global hepatitis drugs market are focused on adopting M&A strategies to enhance their market share. For instance, in December 2020, Gilead Sciences signed a definitive agreement to acquire German biotechnology company MYR for approximately US$ 1.4 billion in cash. With this deal, Gilead will acquire First-in-Class entry inhibitor Hepcludex (bulevirtide) for the treatment of chronic hepatitis delta virus (HDV), a severe form of viral hepatitis.
Major players operating in the global hepatitis drugs market are also focused on adopting collaboration strategies to enhance their market share. For instance, in January 2021, Gilead Sciences, Inc. collaborated with Vir Biotechnology, Inc. to evaluate therapeutic combination strategies aimed at developing a functional cure for chronic hepatitis B virus.
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