The geriatric care services market is expected to grow at a CAGR of 6% during the forecast period of 2024 to 2032. The geriatric care services market is poised for steady growth, driven by demographic shifts, technological advancements, evolving healthcare policies, and changing care preferences. While workforce shortages pose a challenge, the market is adapting to meet the rising demand for specialized geriatric care.
Von Willebrand Disease (VWD) Treatment Market is Expected to Grow at 5.5% by 2031. According to World Federation of Hemophilia (WFH), von Willebrand disease (VWD) is the most common type of bleeding disorder. People with VWD have a problem with a protein in their blood called von Willebrand factor (VWF) that helps control bleeding.
The drugs by therapeutic area include therapy for oncology, cardiovascular, central nervous system, infectious diseases, respiratory, and others. The therapeutic area represents the specific area of medicine where the drug is intended to be used, based on its mechanism of action and intended clinical use. One of the primary drivers of the drugs by therapeutic area market is the increasing prevalence of diseases worldwide. Chronic diseases such as cancer, cardiovascular diseases, and neurological disorders are a significant burden on healthcare systems globally. There is an urgent need for new and effective therapies to treat these diseases, which has led to the growth of the drugs in the therapeutic area market.
The revenues generated by the drugs in the therapeutic area market have been consistently high over the years. The global pharmaceutical market is expected to reach USD 1.5 trillion by 2023, with oncology being the leading therapeutic area. The increasing demand for new therapies, coupled with advancements in technology and an increasing focus on personalized medicine, is expected to drive the growth of the market in the coming years. One of the emerging trends in the drugs by therapeutic area market is the increasing use of precision medicine. Precision medicine involves tailoring medical treatments to individual patients based on their unique genetic and molecular profiles. The development of precision medicine requires the use of advanced diagnostic tools and drug discovery technologies, which have contributed to the growth of drugs in the therapeutic area market.
Another trend in the drugs by therapeutic area market is the increasing focus on biologics. Biologics are drugs that are produced from living cells and are used to treat a wide range of diseases, including cancer and autoimmune disorders. Biologics are more complex than traditional small-molecule drugs, and their development requires specialized manufacturing processes and clinical trial design. The increasing demand for biologics has contributed to the growth of the drugs by therapeutic area market. The increasing focus on rare diseases is also driving the growth of the drugs by therapeutic area market. Rare diseases are defined as diseases that affect fewer than 200,000 people in the United States. Although each rare disease affects a small number of people, there are over 7,000 rare diseases, which together affect millions of people worldwide. There is an urgent need for new therapies to treat rare diseases, which has led to the growth of drugs in the therapeutic area market.
The increasing use of combination therapies is driving the growth of the drugs by therapeutic area market. Combination therapies involve the use of two or more drugs to treat a disease. Combination therapies can improve patient outcomes by targeting multiple pathways involved in the disease process. The development of combination therapies requires the use of advanced drug discovery technologies and clinical trial design, which has contributed to the growth of the drugs by therapeutic area market. The increasing prevalence of diseases worldwide, advancements in technology, and the emerging trends in precision medicine, biologics, rare diseases, and combination therapies are expected to drive the growth of the drugs by therapeutic area market.
