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LONDON, GREATER L0NDON, UNITED KINGDOM, September 5, 2024 /EINPresswire.com/ -- The chronic hepatitis B market has experienced robust growth in recent years, expanding from $3.62 billion in 2023 to $3.77 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to advances in antiviral therapy, growing government and NGO initiatives, improved diagnostic techniques, the rising prevalence of HIV, and increasing awareness.
What Is The Estimated Market Size Of The Global Chronic Hepatitis B Market And Its Annual Growth Rate?
The chronic hepatitis B market is projected to continue its strong growth, reaching $4.47 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to expansion in emerging markets, growing government policies and funding, improved diagnostics and screening, rising healthcare expenditure, increasing strategic collaborations and partnerships, a growing aging population, and growing public awareness campaigns.
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Growth Driver Of The Chronic Hepatitis B Market
The high prevalence of chronic hepatitis B infection is expected to propel the growth of the chronic hepatitis B virus market going forward. Hepatitis B is a liver infection brought on by the hepatitis B virus (HBV), which is prevented through vaccination. The increase in hepatitis B infection rates is due to a combination of factors, particularly in low- and middle-income countries, due to low vaccination coverage leading to higher transmission rates as large portions of the population remain unprotected. Rising hepatitis B infection rates can increase demand for diagnostic tests and treatment options.
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Which Market Players Are Driving the Chronic Hepatitis B Market Growth?
Key players in the chronic hepatitis B market include Pfizer Inc., F Hoffmann-La Roche Ltd, Merck & Co Inc, Bristol-Myers Squibb Company, Novartis AG, GlaxoSmithKline plc, Dynavax Technologies Corporation.
What Are the Emerging Trends Shaping the Chronic Hepatitis B Market Overview?
Major companies operating in the chronic hepatitis B market are adopting a strategic partnership approach to enhance their technological capabilities and market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations combining their resources, expertise, and efforts to achieve common goals or objectives.
How Is The Global Chronic Hepatitis B Market Segmented?
1) By Drug Class: Antivirals, Immune Modulators
2) By Gender: Male, Female
3) By Distribution Channel: Hospital Pharmacies, Drug Stores And Retail Pharmacies, Online Providers
Geographical Insights: North America Leading The Chronic Hepatitis B Market
North America was the largest region in the chronic hepatitis B market in 2023. The regions covered in the chronic hepatitis b market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Chronic Hepatitis B Market Definition
Chronic hepatitis B is a long-term infection with the hepatitis B virus (HBV) lasting over six months, potentially leading to severe liver damage, liver failure, or liver cancer. It is often asymptomatic for years but can be detected through blood tests and managed with antiviral medications and regular monitoring.
Chronic Hepatitis B Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global chronic hepatitis B market report covering trends, opportunities, strategies, and more
The Chronic Hepatitis B Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on chronic hepatitis B market size, chronic hepatitis B market drivers and trends, chronic hepatitis B market major players, chronic hepatitis B competitors' revenues, chronic hepatitis B market positioning, and chronic hepatitis B market growth across geographies. The chronic hepatitis B market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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