The Hepatitis Vaccine Market is estimated to be valued at US$ 8.39 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Hepatitis vaccines provide immunity against the viral hepatitis types A, B, C, D, and E. They aid in preventing the spread of hepatitis. These vaccines are administered through intramuscular or intradermal injection. Increasing government focus on immunization programs to curb hepatitis infections is propelling the growth of the hepatitis vaccine market.
Market key trends:
Rising prevalence of hepatitis infections across the world is a key trend fueling growth of the hepatitis vaccine market. According to WHO, globally, an estimated 257 million people are living with chronic hepatitis B virus infection, and 71 million have chronic hepatitis C virus infection. Hepatitis A and E infections are also on the rise. Growing awareness about hepatitis and availability of effective vaccines is encouraging more people to get vaccinated against hepatitis, thus boosting demand for these vaccines. Furthermore, ongoing development of novel and improved hepatitis vaccines by market players to increase immunization rates will continue to drive the hepatitis vaccine market.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the hepatitis vaccine market is moderately high as developing a new vaccine requires huge capital investments and going through rigorous clinical trials. However, the growing disease prevalence provides opportunities.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of various hepatitis vaccine products from different manufacturers. However, the need to vaccinate against the disease strengthens the buyers' position.
Bargaining power of suppliers: The bargaining power of suppliers is moderate owing to the availability of raw materials from multiple sources. However, suppliers hold an edge due to their technical expertise.
Threat of new substitutes: The threat of new substitutes is low as hepatitis vaccines do not have close substitutes.
Competitive rivalry: The competitive rivalry in the hepatitis vaccine market is high due to the presence of many global players.
SWOT Analysis
Strengths: High disease prevalence, mandatory vaccination programs in various countries, technological advancements
Weaknesses: High R&D costs, stringent regulatory frameworks, vaccine hesitancy
Opportunities: Emerging markets, rise in healthcare expenditures, combination vaccines
Threats: Pricing pressures, production delays, adverse effects
Key Takeaways
Global Hepatitis Vaccine Market Size is expected to witness high growth, exhibiting a CAGR of 5.7% over the forecast period, due to increasing disease prevalence and government support for vaccination programs.
Regionally, North America currently dominates due to developed healthcare infrastructure and innovative pipeline products. However, Asia Pacific is expected to grow the fastest owing to rising healthcare expenditures and large patient population.
Key players operating in the hepatitis vaccine market are Nestle S.A, Mars, Incorporated, Royal Canin SAS, Hill’s Pet Nutrition Inc., Unicharm Corporation, Heristo AG, Yantai China Pet Foods Co., Ltd., and Central Proteina Prima Tbk, among others. These players are involved in new product launches and collaborations to strengthen their positions in the market.
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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.
Global Hepatitis Vaccine Market 2020 analysis deliver important insights and provide a competitive and useful advantage to clients.
The data chart is also backed up by using statistical tools.
Simultaneously,we classify different Hepatitis Vaccine market based on their definitions.
Each segment includes indepth explanation of the factors that are useful to drive and restrain it.
Complete primary and secondary research along with reviews from the experts and analyst from the industry and business, Results, All reliable and informative data is present in the report.The report is initialized with a summary that gives an overall view about the global Hepatitis Vaccine market.
These well summarized research report on the Global Hepatitis Vaccine Market offers a concrete and thorough assorted compilation of systematic analysis, interpretation, and synthesis of information collecting and integrating about the Hepatitis Vaccine Market from a range of diverse arrangement of reliable sources and information extracting points.
