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Hepatitis B Virus (HBV) Global Market Analysis, Trends, Growth, Research And Forecast 2033
Hepatitis B Virus (HBV) Global Market Analysis
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According to The Business Research Company's, The hepatitis b virus (hbv) market size has grown rapidly in recent years. It will grow from $6.04 billion in 2023 to $6.71 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rising prevalence of hepatitis b virus (hbv), growing demand for hbv diagnostics, expanding hbv vaccine coverage, rising awareness of hepatitis b virus (hbv).
The hepatitis b virus (hbv) market size is expected to see strong growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to the rise of personalized medicine, growing support from patient advocacy groups, rising vaccination programs, increase in healthcare expenditure. Major trends in the forecast period include development of new drugs, advancements in diagnostic technologies, public-private partnerships, innovative biological therapies.
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Market Drivers and Trends:
The high prevalence of hepatitis B infection is expected to propel the growth of the 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. 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 hepatitis B virus market.
Major companies operating in the hepatitis B virus (HBV) market are focused on the development of advanced diagnostics and treatment options such as the use of highly sensitive chemiluminescent microparticle immunoassay (CMIA) to gain competitive advantages in the market. For instance, in May 2022, Abbott Laboratories, a US-based healthcare company, launched the HBsAg Next Qualitative Solution Test, which will aid in the early detection of Hepatitis B virus (HBV) in human serum and plasma samples and improve patient outcomes while preserving safe blood supplies. The early and improved detection of HBV in human serum and plasma (blood) samples, as well as population screening, are made possible by this highly sensitive chemiluminescent microparticle immunoassay (CMIA).
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Hepatitis B Virus (HBV) Global Market Report 2024
Pfizer Inc., Johnson & Johnson Services Inc., F. Hoffmon La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Sanofi SA, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Mylan N.V., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Incorporated, Eisai Co. Ltd., Aurobindo Pharma Limited, Apotex Corp., Lupin Pharmaceuticals Inc., Cadila Healthcare Ltd., Celltrion Inc., Dynavax Technologies Corporation, Accord Healthcare Inc., Par Pharmaceutical Inc., Arrowhead Pharmaceuticals Inc., Arbutus Biopharma Corporation, Globeimmune Inc., Antios Therapeutics Inc.
Hepatitis B Virus (HBV) Market 2024 Key Insights:
• The hepatitis b virus (hbv) market size is expected to see strong growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Rising Hepatitis B Infection Rates Fuel Growth Prospects For Hepatitis B Virus Market
• Rising Emphasis On Highly Sensitive Hbsag Test Revolutionizes Hepatitis B Virus (HBV) Detection And Treatment
• North America was the largest region in the hepatitis B Virus (HBV) market in 2023
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