The global Hepatitis Vaccine Market is estimated to be valued at US$8.38 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Hepatitis vaccines are used to prevent infection caused by the hepatitis virus. These vaccines stimulate the immune system to produce antibodies that protect against hepatitis A and B infections. The market is driven by the increasing prevalence of hepatitis infections worldwide. According to the World Health Organization (WHO), around 257 million people were living with chronic hepatitis B infection in 2015, and approximately 71 million people had chronic hepatitis C infection in 2019. Hepatitis vaccines play a crucial role in preventing the transmission of these infections and reducing the burden on healthcare systems.
Market Key Trends:
One key trend in the hepatitis vaccine market is the increasing focus on combination vaccines. Combination vaccines offer convenience and cost-effectiveness by providing protection against multiple diseases in a single dose. This trend is driven by the rising demand for improved immunization coverage and the need to simplify vaccination schedules. For instance, GSK's Infanrix hexa vaccine provides protection against diphtheria, tetanus, pertussis, hepatitis B, polio, and Haemophilus influenzae type b (Hib) in a single shot. Combination vaccines not only reduce the number of injections required but also enhance patient compliance and reduce healthcare costs.
PEST Analysis:
- Political: Governments worldwide are focusing on initiatives to increase vaccination coverage and reduce the burden of hepatitis infections. For example, the World Hepatitis Alliance launched the "Find the Missing Millions" campaign to raise awareness about hepatitis testing and treatment.
- Economic: The high cost of vaccine development and production is a major factor hindering market growth. However, increasing investments in research and development activities by pharmaceutical companies and government organizations are expected to drive market growth.
- Social: Increasing awareness about the benefits of vaccination and initiatives by healthcare organizations to educate people about the prevention of hepatitis infections are positively impacting market growth.
- Technological: Advances in vaccine technology, such as the development of novel adjuvants and delivery systems, are enhancing the efficacy and safety of hepatitis vaccines. Additionally, the use of recombinant DNA technology has facilitated the production of genetically-engineered hepatitis vaccines.
Key Takeaways:
1: The global hepatitis vaccine market is expected to witness high growth, exhibiting a CAGR of 5.7% over the forecast period, due to increasing prevalence of hepatitis infections. Vaccination is a key preventive measure for hepatitis, leading to a growing demand for hepatitis vaccines.
2: Regional analysis reveals that North America is the fastest-growing and dominating region in the hepatitis vaccine market. This can be attributed to the high awareness about vaccination programs, favorable government policies, and the presence of major pharmaceutical companies in the region.
3: Key players operating in the global hepatitis vaccine market are Merck and Company, GlaxoSmithKline, Sanofi Pasteur, CSL Behring GmbH, Novartis AG, and Pfizer Inc. These companies are focused on strategic initiatives such as mergers and acquisitions, product launches, and collaborations to strengthen their market presence and expand their product portfolios.
In conclusion, the global hepatitis vaccine market is expected to witness significant growth driven by increasing prevalence of hepatitis infections. Combination vaccines and technological advancements are key trends shaping the market. Governments, healthcare organizations, and pharmaceutical companies are actively working towards raising awareness and improving vaccination coverage. North America is the fastest-growing region in the market, while key players such as Merck and Company, GlaxoSmithKline, and Sanofi Pasteur are leading the market with their innovative vaccine offerings.
Global “Hepatitis A Vaccine Market” 2019 research report provides information regarding market size, share, trends, growth, cost structure, capacity, revenue and forecast 2024.
This report is exhaustive quantitative analyses of the Hepatitis A Vaccine industry and provides data for making strategies to increase market growth and effectiveness.Get a Sample Copy of the Report at – http://industryresearch.biz/enquiry/request-sample/13841619The Global Hepatitis A Vaccine market 2019 research provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure.
The Global Hepatitis A Vaccine market research is provided for the international markets as well as development trends, competitive landscape analysis, and key regions development status.
This report additionally states import/export consumption, supply and demand Figures, cost, price, revenue, and gross margins.Global Hepatitis A Vaccine market competition by TOP MANUFACTURERS, with production, price, revenue (value) and each manufacturer includingGSKMerckSanofiSinovacZhejiang PukangChangchun Institute of BiologicalKaketsukenIMBCAChangShengConvacScope of the Report:Hepatitis A vaccine is a vaccine which is against the hepatitis A virus.
The Hepatitis A vaccine is available for long-term prevention of HAV infection, Minimum age for HAV vaccination is 1 year.The classification of Hepatitis A Vaccine includes Inactivated Vaccine, Live Attenuated Vaccine, and the sales proportion of Inactivated Vaccine in 2017 is about 70.8%, and the proportion is increasing trend from 2013 to 2018.Inactivated vaccines: Inactivated HAV vaccines are used in most countries.
Monovalent inactivated HAV vaccines are available in paediatric dose (0.5 ml) for children aged 1 year to 15 years, and in adult dose (1 ml).The worldwide market for Hepatitis A Vaccine is expected to grow at a CAGR of roughly 2.8% over the next five years, will reach 770 million US$ in 2024, from 650 million US$ in 2019, according to a new study.This report focuses on the Hepatitis A Vaccine in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.
