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Chronic Hepatitis B Market Growth And Overview Report 2024-2033
Chronic Hepatitis B Market Growth
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According to The Business Research Company's, The chronic hepatitis B market size has grown steadily in recent years. It will grow 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.
The chronic hepatitis B market size is expected to see steady growth in the next few years. It will grow to $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. Major trends in the forecast period include a shift towards curative therapies, expansion in emerging markets, enhanced diagnostics and screening, partnerships and collaborations, and a and a focus on patient-centric care.
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Market Drivers and Trends:
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. For instance, in December 2022, according to the European Centre for Disease Prevention and Control, a Sweden-based agency for strengthening Europe's defenses against infectious diseases, hepatitis B virus (HBV) infection was recorded in 16,187 cases in 30 Eastern European Member States in 2021. Further, the total cases 15,380 equal a crude rate of 4.7 cases per 100,000 people, compared to 14,332 in 2020. Therefore, the high prevalence of hepatitis B infection will drive the chronic hepatitis B virus market.
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. For instance, in January 2021, Gilead Sciences Inc., a US-based biopharmaceutical company, collaborated with VIR Biotechnology, a U.S.-based biotech company, to explore novel combination therapies to achieve a functional cure for chronic hepatitis B virus (HBV). They will commence a Phase 2 trial assessing various combinations of Gilead's investigational TLR-8 agonist, selgantolimod, Vir's investigational siRNA, VIR-2218, and a commercially available PD-1 antagonist. Additionally, treatment-experienced patients may receive Gilead's Vemlidy (tenofovir alafenamide fumarate, TAF). The trial's primary goal is determining the percentage of patients achieving a functional cure, characterized by the off-therapy disappearance of hepatitis B surface antigen (HBsAg) and HBV DNA from the serum.
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Major Key Players of the Market:
Pfizer Inc., F Hoffmann-La Roche Ltd, Merck & Co Inc, Bristol-Myers Squibb Company, Novartis AG, GlaxoSmithKline plc, Dynavax Technologies Corporation, Gilead Sciences Inc, Viatris Inc., Teva Pharmaceutical Industries Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Apotex Corp, Cipla Ltd, Hikma Pharmaceuticals, Lupin Pharmaceuticals Inc, Vir Biotechnology Inc, VBI Vaccines Inc, Shenzhen Hepalink Pharmaceutical Co. Ltd., Accord Healthcare Inc, Par Pharmaceutical Inc, Arrowhead Pharmaceuticals Inc, ViiV Healthcare, Arbutus Biopharma Corporation, Ascentage Pharma, ENYO Pharma, Zydus Pharmaceuticals Inc, Nucorion Pharmaceuticals
Chronic Hepatitis B Market 2024 Key Insights:
• The chronic hepatitis B market size is expected to see steady growth in the next few years. It will grow to $4.47 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.
• High Prevalence Of Hepatitis B Infection
• Strategic Partnerships In The Chronic Hepatitis B Market
• North America was the largest region in the chronic hepatitis B market in 2023
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