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The hepatitis B virus (HBV) market has witnessed a rapid surge in size, expanding from $6.04 billion in 2023 to $6.71 billion in 2024, marking a notable compound annual growth rate (CAGR) of 11.1%. This growth is attributed to several factors such as the increasing prevalence of HBV, a rising demand for diagnostics, expanded vaccine coverage, and heightened awareness.

 

Key Market Figures:

• 2023 Market Size: $6.04 billion
• 2024 Projected Size: $6.71 billion
• CAGR (2023-2024): 11.1%

 

Projecting into the Future

Looking ahead, the market is poised for robust growth, with a forecasted size of $9.71 billion in 2028, showcasing a CAGR of 9.7%. Factors contributing to this growth include the rise of personalized medicine, enhanced support from patient advocacy groups, expanding vaccination programs, and an increase in healthcare expenditure.

Future Projections:

• 2028 Projected Size: $9.71 billion
• CAGR (2024-2028): 9.7%

Unraveling the Drivers: Rising Incidences of Liver Damage and Cirrhosis

One significant driver behind the thriving HBV market is the escalating incidences of liver damage and cirrhosis. Cirrhosis, characterized by the permanent replacement of healthy liver tissue with scar tissue, is a severe form of liver disease. The impact of HBV on kidney function further emphasizes the need for effective diagnostics and treatment.

Key Insights:

• US Liver Disease Stats (September 2022): 4.5 million adults diagnosed
• ALD-related fatalities (2019-2021): Increased by 17.6%
• NAFLD-related deaths (2019-2021): Climbed by 14.5%

Industry Giants Leading the Way

Major players in the HBV market, including Pfizer Inc., Johnson & Johnson, and Merck & Co., are pivotal in steering the industry’s growth. These companies, along with others, contribute to the market’s vitality by developing innovative drugs, diagnostic technologies, and engaging in public-private partnerships.

Prominent Players:

• 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
• And more…

 

Revolutionizing Detection and Treatment: Emphasis on Highly Sensitive HBsAg Test

Companies in the HBV market are prioritizing advanced diagnostics and treatment options, such as the utilization of highly sensitive chemiluminescent microparticle immunoassay (CMIA). Abbott Laboratories, a notable healthcare company, has introduced the HBsAg Next Qualitative Solution Test, enhancing early detection and improving patient outcomes.

 

View More On The Hepatitis B Virus (HBV) Market Report 2023 – https://www.thebusinessresearchcompany.com/report/hepatitis-b-virus-hbv-global-market-report

 

Innovations in Diagnostics:

• Abbott Laboratories (May 2022): Launches HBsAg Next Qualitative Solution Test
• Technology: Highly sensitive chemiluminescent microparticle immunoassay (CMIA)

 

Strategic Acquisitions: Brii Biosciences Takes the Lead

In a strategic move, Brii Biosciences Ltd., a China-based biotechnology company, acquired licensing rights for an experimental HBV immunotherapy and an approved HBV vaccine from VBI Vaccines Inc. in July 2023. This acquisition positions Brii Biosciences to play a key role in the prevention and treatment of HBV.

 

Strategic Acquisition:

• Brii Biosciences Ltd. (July 2023): Acquires licensing rights from VBI Vaccines Inc.

 

Segmenting the Market for Precision

The HBV market is diverse, catering to different types, treatments, age groups, and end users. Segmentation includes acute and chronic types, various treatment options such as immune modulator drugs, antiviral drugs, vaccines, and surgery, and considerations for age groups and end users.

 

Market Segmentation:

1. By Type: Acute, Chronic
2. By Treatment: Immune Modulator Drugs, Antiviral Drugs, Vaccine, Surgery
3. By Age Group: Pediatrics, Adults, Seniors
4. By End User: Medical Providers, Patients, Healthcare Payers

 

Regional Dynamics: North America Leads, Asia-Pacific Grows

As of 2023, North America holds the lion’s share in the HBV market, while Asia-Pacific is expected to witness the fastest growth in the forecast period, underlining the global nature of the HBV challenge and its solutions.

 

Regional Insights:

• Largest Region (2023): North America
• Fastest-Growing Region (Forecast Period): Asia-Pacific

 

Request A Sample Of The Global Hepatitis B Virus (HBV) Market Report 2023:
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The Hepatitis B Virus (HBV) Global Market Report 2023  provides a comprehensive overview on the hepatitis B virus (HBV) market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

 

View More Related Reports –

Herpes Simplex Virus Treatment Global Market Report 2023

Liver Diseases Therapeutics Global Market Report 2023

Human Papillomavirus (HPV) Vaccine Global Market Report 2023

 

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