Chronic Hepatitis B Market Poised for $6.2 Billion by 2031, Driven by Diagnostic Advancements and Rising Infections

PORTLAND, OR, UNITED STATES, September 10, 2024 /EINPresswire.com/ -- The global market for chronic hepatitis B (CHB) was valued at $4.6 billion in 2021 and is projected to grow to $6.2 billion by 2031, with a compound annual growth rate (CAGR) of 3% from 2022 to 2031. Hepatitis B is a viral infection that causes liver inflammation and, in some cases, leads to severe liver damage. The virus spreads primarily through contact with infected blood. Testing methods for hepatitis B include antibody tests, genotype tests, and viral load assessments. CHB treatment often involves antiviral drugs and immune modulators.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

• Cipla Ltd
• Teva Pharmaceutical Industries Limited
• Bristol Myers Squibb Co.
• F. Hoffman La Roche
• GlaxoSmithKline (GSK)
• Viatris Inc. (Mylan NV)
• Merck & Co. Inc.
• Novartis AG
• Gilead Sciences
• zydus cadila

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A31523

Key Drivers of Market Growth

Several factors are contributing to the expansion of the CHB market:
1. Increased Blood Transfusion and Donation Rates: Blood transfusions are a key contributor to the transmission of hepatitis B, prompting mandatory hepatitis screening for blood donors. The rise in blood donation rates boosts the demand for diagnostic testing and contributes to the growth of the CHB market.
2. Rising Hepatitis B Cases: According to a 2022 report by the World Health Organization (WHO), about 296 million people were living with chronic hepatitis B in 2019, with 1.5 million new infections each year. This growing prevalence drives demand for CHB treatment and diagnosis, spurring market growth.
3. Advancements in Treatment: The market is experiencing robust growth due to innovations in CHB therapies. For example, Gilead Sciences’ Hepcludex (bulevirtide) showed promising results in a Phase 3 clinical trial for treating hepatitis delta virus (HDV), further driving interest in advanced therapeutic solutions.
4. R&D and Product Launches: Increased research and development (R&D) activities in CHB treatments, especially for more affordable and effective solutions, are fueling the market. New product launches and approvals also boost growth by offering healthcare providers more options to treat the disease.

Market Segmentation

The chronic hepatitis B market is segmented based on drug class, gender, distribution channel, and region:
1. Drug Class:
• The antivirals segment dominated the market in 2021 and is expected to maintain its leading position due to improvements in healthcare infrastructure and the prevalence of infectious diseases.
• The immune modulators segment is expected to witness significant growth during the forecast period, driven by ongoing R&D efforts.
2. Gender:
• The male segment held the largest market share in 2021, largely due to the higher prevalence of CHB among men.
• The female segment is projected to see considerable growth, supported by the increasing number of female healthcare workers and rising healthcare spending.
3. Distribution Channel:
• Drug stores and retail pharmacies dominated the market in 2021, reflecting rising accessibility and government investments in healthcare infrastructure.
• The online providers segment is expected to grow significantly, driven by the convenience of online purchasing and an aging population in need of accessible healthcare solutions.

4. Regional Analysis:
• North America held the largest share of the global CHB market in 2021, driven by a high incidence of chronic diseases, advanced healthcare infrastructure, and the presence of leading pharmaceutical companies.
• Asia-Pacific is expected to see the most substantial growth, supported by a high population base, increasing cases of infectious diseases, and improvements in healthcare infrastructure.

Industry Growth Catalysts

Several factors are set to boost the CHB market over the coming years:

• Diagnostic Improvements: The establishment of diagnostic centers and blood banks, coupled with WHO recommendations for mandatory screening of blood donations for hepatitis B and other infectious diseases, will drive the market.
• Healthcare Expansion: Growth in hospital numbers, increased access to healthcare services, and rising healthcare expenditure will further support market expansion. According to the American Medical Association (AMA), U.S. healthcare spending surged by 9.7% in 2020, reaching $4.1 trillion.
• Government Initiatives: Increased government investments in healthcare infrastructure and improved regulations on blood donations and healthcare standards will promote the market’s growth, especially in regions with developing healthcare systems.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A31523

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X