LONDON, March 06, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Hepatic Encephalopathy Global Market Report 2024, the global hepatic encephalopathy market, a condition arising from liver dysfunction, has showcased remarkable expansion in recent years. According to market analysis, the hepatic encephalopathy market size is poised to rise from $1.62 billion in 2023 to $1.72 billion in 2024, representing a compound annual growth rate (CAGR) of 6.0%. The growth trajectory is expected to persist, with the hepatic encephalopathy market projected to reach $2.1 billion by 2028, at a CAGR of 5.2%.
Driving Forces Behind Market Expansion
Increasing Healthcare Expenditures: The escalating healthcare expenditures globally are anticipated to be a key driver propelling the growth of the hepatic encephalopathy market. Higher healthcare spending facilitates advancements in diagnosis, treatment, awareness, and patient care, consequently enhancing treatment options for hepatic encephalopathy. For instance, recent statistics from the Office for National Statistics in the UK indicated a substantial increase in healthcare spending, which has a positive implication on the growth of the market.
Learn More In-Depth On The Hepatic Encephalopathy Market
https://www.thebusinessresearchcompany.com/report/hepatic-encephalopathy-global-market-report
Innovative Drug Development
Major players in the hepatic encephalopathy market are actively engaged in the development of innovative drugs to gain competitive advantages and bolster their market presence. Noteworthy developments include the introduction of novel drugs such as GR3027 (golexanolone) by Karolinska Development AB and strategic acquisitions like Genfit SA's acquisition of Versantis AG, aimed at expanding product pipelines for liver diseases characterized by unmet medical needs.
Market Segmentation
The hepatic encephalopathy market is segmented based on:
- Drug Class: Including antibiotics, laxatives, L-ornithine, L-aspartate, and other drug classes.
- Route of Administration: Encompassing oral, intravenous, and rectal administration.
- Distribution Channel: Consisting of hospital pharmacies, retail pharmacies, and online pharmacies.
Regional Insights
North America emerged as the largest region in the hepatic encephalopathy market in 2023, highlighting the region's significant contribution to market growth.
Get A Free Sample Of The Global Hepatic Encephalopathy Market Report
https://www.thebusinessresearchcompany.com/sample_request?id=12906&type=smp
Major Players
Prominent companies operating in the hepatic encephalopathy market include Umecrine Cognition AB, Bausch Health Companies Inc., Mallinckrodt Pharmaceuticals, Lupin Limited, Salix Pharmaceuticals, Norgine B.V., Ferring B.V., ASKA Pharmaceutical Co. Ltd., Vedanta Biosciences Inc., Gilead Sciences Inc., Amgen Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Bausch Health Companies Inc., Ochsner Health Inc., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Cipla Limited, Amneal Pharmaceuticals LLC, Mallinckrodt PLC, Lupin Limited, Torrent Pharmaceuticals Ltd., Salix Pharmaceuticals Inc., ASKA Pharmaceutical Co. Ltd., and Norgine B.V.
With a robust growth trajectory driven by increasing healthcare expenditures and ongoing innovations in drug development, the hepatic encephalopathy market is poised for substantial expansion. Market players are strategically positioned to capitalize on emerging opportunities and address the unmet medical needs in this domain.
Hepatic Encephalopathy Global Market Report 2024 by The Business Research Company provides insights on the hepatic encephalopathy market size, hepatic encephalopathy market segments, hepatic encephalopathy market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Check Out Similar Market Intelligence Reports By The Business Research Company:
Neurodegenerative Disorder Therapeutics Global Market Report 2024
Neurophysiology Devices And Equipment Global Market Report 2024
Nerve Repair And Regenerative Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/nerve-repair-and-regenerative-global-market-report
Learn More About The Business Research Company
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model – World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
