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Pet DNA Testing Market is anticipated to hold a share of US$ 839.84 million by 2033
The Pet DNA Testing Market is anticipated to expand its roots at a steady CAGR of 9.1% between 2023 and 2033. The market is anticipated to cross a market share of US$ 839.84 million by 2033 while it is likely to be valued at US$ 351.52 million in 2023.
Increased adoption of dogs and cats post-pandemic along with people treating their pets as family members is fueling the demand for pet DNA testing solutions. Furthermore, the higher veterinary budget is also expanding the research and development facilities.
Expanding breeding businesses and end users buying dogs of foreign breeds. Moreover, conducting breed origin tests is also fueling the demand for pet DNA tests. Apart from the breed identification possible genetic threats could also be found through the test.
The integration of veterinary technology with the digitization of veterinary healthcare along with dog breed tests.
People are curious to know more about their pets, ancestral history, and characteristics. These details optimize their diet regime and exercise which fuels the sales of pet DNA tests.
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Key Points:
The United States market leads the pet DNA testing market in terms of market share in North America. The North American market held a market share of 35.0% in 2022. The market growth is attributed to the increase in pet care units and pet humanization.
The United Kingdom pet DNA testing market is another significant market from the European region. Regional growth is attributed to government efforts and, advancements in pet genetics technology.
The Chinap pet DNA testing market is anticipated to thrive at a healthy CAGR during the forecast period. The growth is owed to increased pet adoption, advanced DNA testing, and expanding breeding business.
By test type, the genetic diseases segment held a share of 35.0% in 2022. This is due to the increased amount of information and potential health threats.
Competitive Landscape:
The key vendors work on producing pet DNA testing solutions with higher accuracy, small diagnostics time, and affordable pricing. The market players also focus on creating easy-to-use products. Key competitors are indulged in mergers, acquisitions, and partnerships to increase their supply chain and distribution channel. The key players in the market are Wisdom Panel (Mars, Inc.); Embark Veterinary, Inc.; Dognomics (Clinomics); Basepaws, Inc. (Zoetis); and NeoGen Corp.
Recent Market Developments:
Wisdom panel introduced a `wisdom panel dog DNA test for breed detection. The test delivers information such as the dog’s color, strength, energy, and fur.
Embark Veterinary launched tests involving breed identification, health and wellness tests, and faster test results.
Dognomics dog DNA tests have eased their testing procedures with three simple steps: sign up, swab, and send. While swabbing takes 5-10 secs, the company has free shipping in the United States.
Market Segmentation:
Animal Type Outlook:
Dogs
Cats
Sample Type Outlook:
Blood
Saliva
Semen
Others
Test Type Outlook:
Breed Profile
Genetic Diseases
Health & Wellness
End User Outlook:
Pet Owners
Breeders
Veterinarians
Key Regions Covered:
North America
United States
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
United Kingdom
France
Spain
Russia
Rest of Europe
Japan
Asia Pacific Excluding Japan
China
India
Malaysia
Singapore
Australia
Rest of APEJ
The Middle East and Africa
GCC Countries
Israel
South Africa
Rest of Middle East and Africa
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Hepatic Encephalopathy Treatment Market, Anticipating US$ 2971.51 Million by 6.5% CAGR by 2033
During the forecast period 2023 to 2033, the Hepatic Encephalopathy Treatment Market is expected to grow at a value of 6.5% CAGR, according to Future Market Insights. By the year 2033, the global market for Hepatic encephalopathy treatment is expected to rise up to a market valuation of US$ 2971.51 Million. The growth of the market can be attributed to the increasing prevalence of liver diseases such as cirrhosis and non-alcoholic fatty liver disease (NAFLD).
One of the key factors driving the growth of the Hepatic Encephalopathy Treatment Market is the development of new and innovative treatments for HE. In recent years, several new medications have been approved for the treatment of HE, including rifaximin, lactulose, and neomycin. These medications work by reducing the levels of toxins in the gut or preventing their absorption into the bloodstream, which can help reduce the severity of HE symptoms.
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Another factor driving the growth of the Hepatic Encephalopathy Treatment Market is the increasing awareness and diagnosis of HE. As the prevalence of liver diseases such as cirrhosis and NAFLD continues to rise, more individuals are being diagnosed with HE and seeking treatment. In addition, advancements in diagnostic technologies have made it easier for healthcare professionals to identify HE in its early stages, allowing for earlier intervention and better outcomes.
Key Takeaways from the Market Study:
The Hepatic encephalopathy treatment market is expected to grow at a value of 6.5% CAGR in the forecast period 2023-2033
Hospital pharmacies are expected to hold 49% of the market share in 2023 for Hepatic encephalopathy treatment market.
North America is expected to possess 44% market share for Hepatic encephalopathy treatment market in 2023.
Asia Pacific Hepatic encephalopathy treatment market size is expected to possess 39% market share in 2023.
“The Hepatic Encephalopathy Treatment Market is also being driven by the increasing adoption of combination therapies for HE.” states an FMI analyst
Competitive Landscape:
Key players in the hepatic encephalopathy treatment market are Mallinckrodt Pharmaceuticals, Salix Pharmaceuticals, GlaxoSmithKline plc., Pfizer Inc., ASKA Pharmaceutical Co., Ltd., Bausch Health, Johnson & Johnson Services, Inc., Janssen Global Services, Takeda Pharmaceutical Company Limited, Merck & Co., Inc.
Mallinckrodt Pharmaceuticals has developed and marketed several medications for the treatment of Hepatic Encephalopathy that include Ofirmev and Terlipressin (Glypressin) injection. In addition to these medications, Mallinckrodt Pharmaceuticals has also sponsored clinical research into the treatment of HE, with a focus on developing new treatments and improving the understanding of the condition.
Salix Pharmaceuticals has developed Xifaxan (rifaximin) tablets. Xifaxan is an antibiotic medication that works by reducing the levels of bacteria in the gut, which can help reduce the production of toxins that contribute to the development of HE.
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Key Segments Profiled in the Hepatic Encephalopathy Treatment Industry Survey
Drug Class:
Antibiotics
Laxatives
L-ornithine
L-aspartate
Diagnosis:
Blood Tests
CT Scan
Liver Functioning Tests
Route of Administration:
Oral
Injectable
Intravenous
Others
Distribution Channel:
Hospital Pharmacy
Online Pharmacy
Retail Pharmacy
Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
Progressive Multifocal Leukoencephalopathy Treatment Market is anticipated to reach US$ 1,773.97 million by 2033
The global Progressive Multifocal Leukoencephalopathy Treatment Market revenue is predicted to generate a value of US$ 1,320 million in 2023 and a market value of US$ 1,773.97 million by 2033, with a CAGR of 3% from 2023 to 2033. From 2018 to 2022, the market for Progressive Multifocal Leukoencephalopathy Treatment grew at a 2% CAGR.
According to the most recent research, PML affects around one in every 200,000 people. According to the same article, it is projected that 4,000 persons in the United States and Europe get PML each year. The rising demand for these therapies is projected to spur the development of new and innovative treatments, propelling the industry forward in the coming years.
North America is expected to gain a market share of around 40% throughout the projection period. This increase is due to the increasing incidence of the illness in the region. Furthermore, government efforts and an increase in the number of research collaborations are encouraging market expansion in North America. Because of a shift towards point-of-care healthcare, Asia Pacific is a booming market. The growing number of hospitals in India and China creates a global business opportunity.
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Key Takeaways from the Market Study
The Progressive Multifocal Leukoencephalopathy Treatment market increased at a 2% CAGR from 2018 to 2022.
From 2023 to 2033, the global Progressive Multifocal Leukoencephalopathy Treatment market is estimated to rise at a 3% CAGR.
The Progressive Multifocal Leukoencephalopathy Treatment Market is anticipated to be worth US$ 1773.97 million by 2033.
Hospital pharmacies have the biggest market share, according to the FMI research.
North America is estimated to have 40% of the market for Progressive Multifocal Leukoencephalopathy Treatment.
The South and East Asia market is expected to grow significantly throughout the projected period, accounting for 20% of the total.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Progressive Multifocal Leukoencephalopathy Treatment.” says an FMI analyst
Market Competition
Key players in the market include pharmaceutical companies such as NeoImmuneTech, Neurimmune, GlaxoSmithKline Plc, Sanofi S.A., Gilead Sciences, Inc., Allergan Plc., Novartis AG, AbbVie Inc., and Bristol-Myers Squibb Company along with healthcare providers and technology companies among other global players.
In October 2022, Cellevolve Bio, Inc., a company focused on developing and commercializing cell therapies, announced that its Investigational New Drug (IND) application for CE-VST01-JC has been approved by the US Food and Drug Administration (FDA). CE-VST01-JC is a JC Virus Specific T Cell Therapy that is being studied for the treatment of progressive multifocal leukoencephalopathy (PML) and has received orphan drug designation from the FDA.
The safety and effectiveness of CE-VST01-JC will be tested in a global, multi-center, randomized, double-blind, placebo-controlled Phase 2 study called ASCEND-JC. The study is expected to enroll up to 60 patients across the US, Canada, and EU, with the first patient enrollment anticipated in the first half of 2023.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global Progressive Multifocal Leukoencephalopathy Treatment market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of indication, treatment, distribution channel, end-users and region.
Key Segments Profiled in the Progressive Multifocal Leukoencephalopathy Treatment Industry Survey
Treatment:
Anti-retroviral Therapy
Antiviral/Anti JCV
Other Symptomatic
Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Indication:
HIV/AIDS
Organ Transplantation
Multiple Sclerosis
Hematologic Malignancies
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