Hepatitis B Vaccine Market - By Type (Single Antigen Vaccine, Combination Vaccine), By End-use (Hospitals, Clinics) & Forecast 2023 - 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHepatitis B Vaccine Market Size
Hepatitis B Vaccine Market size accounted for USD 3.3 billion in 2022 and is estimated to grow at 5.1% to reach USD 5.7 billion by 2032. Growing prevalence of chronic infection, liver cirrhosis and liver cancer will positively influence the market growth.
For instance, in 2019, according to the World Health Organization (WHO), 296 million people were living with chronic hepatitis B infection with 1.5 million new infection cases are registered each year. This indicates that there will huge number of patient pool infected with hepatitis B viral infection every year globally. The availability of effective preventive vaccines offering immunity against aforementioned diseases will offer unprecedented growth opportunities to the market.
Imagine a superhero called the Hepatitis B vaccine. Its mission is to protect you from the evil hepatitis B virus. This sneaky virus has a secret weapon called HBsAg, a protein that helps it invade your liver. But don't worry! The vaccine has a plan. It gives your body a heads-up about HBsAg, showing it a harmless copy of the protein. This tricks your immune system into thinking it's the real virus and it springs into action, creating antibodies that are like soldiers ready to fight off the real infection. The vaccine typically comes in a shot, and it can be given alone or as part of a team of vaccines that protect you from multiple bad guys. It's especially important for babies, kids, teens, and adults who might be at risk of meeting the hepatitis B virus. And in many countries, it's a star player in the routine immunization lineup.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Hepatitis B Vaccine Market Size in 2022 | USD 3.3 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.1% |
| 2032 Value Projection | USD 5.7 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 120 |
| Tables, Charts & Figures | 203 |
| Segments covered | Type, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
|
COVID-19 Impact
The COVID-19 pandemic has hit the world's economies hard, with businesses and industries everywhere struggling in 2020. Healthcare was especially affected as hospitals and clinics worked hard to stop the spread of the virus. The focus on COVID-19 vaccines meant that other important vaccines, like for hepatitis B, were often put on hold. As a result, fewer people got these vaccines, which could slow down the market for them. The strain on healthcare systems and money during the pandemic has also meant that making, shipping, and finding hepatitis B vaccines has been harder. Plus, people are worried about the future and have less money, so governments and organizations may invest less in hepatitis B vaccination programs. This could also hurt the market in 2020.
Hepatitis B Vaccine Market Trends
Rising government initiatives, policies and awareness programs have played a significant role in promoting hepatitis B vaccination. Increasing number of hepatitis B infections and deaths has significantly highlighted the importance of preventing hepatitis B infection and its associated health burdens. Various governments have implemented numerous strategies to increase vaccine coverage including mandating hepatitis B vaccination for infants, children, and high-risk populations. Integrating the vaccine into routine immunization schedules and providing financial support for vaccination programs is expected to boost the market share.
For instance, in 2018, according to the Ministry of Health and Family Welfare, Government of India has launched National Viral Hepatitis Control Program. This program is aimed to control and manage hepatitis B and hepatitis C infections. Thus, such government initiatives and awareness programs is anticipated to foster the industry outlook.
Hepatitis B Vaccine Market Restraint
Stringent regulatory approval processes for hepatitis B vaccines may significantly impede the hepatitis B vaccine industry expansion. The complex and rigorous regulatory requirements leads to delay the introduction of new vaccines and limit the entry of new players into the market. The lengthy approval processes increase the time and costs associated with vaccine development and commercialization, thereby hindering the market progress.
Also, compliance with stringent regulations necessitates extensive clinical trials, safety evaluations, and manufacturing standards can pose challenges for small scale companies with limited resources. These regulatory hurdles can slow down innovation, limit competition and ultimately restrict the availability and accessibility of hepatitis B vaccines, thereby impacting the market dynamics.
Hepatitis B Vaccine Market Analysis
When it comes to hepatitis B vaccines, there are two main typesvaccines that target only hepatitis B and vaccines that protect against multiple diseases at once. In 2022, the combo vaccines were the clear winners, holding over 65% of the market, and they're only expected to grow in popularity. These combo vaccines are like superhero shots, protecting you against a whole range of infections in one go. They're super convenient, especially for busy folks who don't want a million different shots. And because they combine multiple vaccines, they help improve vaccination rates and make sure more people are protected.
People can get the hepatitis B vaccine at different places, such as hospitals, clinics, and even other locations. Hospitals are expected to be a big part of the market in the future, bringing in over 3.6 billion dollars by 2032. This is because many hospitals give newborns their first dose of the hepatitis B vaccine before they leave the hospital. This is important because newborns are at high risk of getting hepatitis B. Hospitals also make it easy for people to get the vaccine when they're already there for other health reasons. Plus, hospitals have good equipment and storage for the vaccine, which helps keep it from running out or spoiling.
North America hepatitis B vaccine market accounted for over 40.6% business share in 2022 and is anticipated to grow at considerable growth rate during the forecast timeframe. Increasing prevalence of hepatitis B infections coupled with the increasing population at risk, including newborns, healthcare workers among others is expected to fuel the market growth in the region. Also, growing awareness pertaining to the importance of immunization and preventive healthcare practices is projected to fuel the market demand.
Increasing investments in R&D to enhance vaccine efficacy will reduce the number of doses required, hereby significantly proliferate the market growth. Furthermore, rising government initiatives for promoting education and vaccination campaigns to enhance vaccine coverage rates will significantly drive the value in the North America region.
Hepatitis B Vaccine Market Share
Major market players operating in the hepatitis B vaccine market include
- Merck & Co., Inc
- Sanofi S.A.
- GlaxoSmithKline plc.
- Dynavax Technologies Corporation
These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition.
Hepatitis B Vaccine Market News
- In August 2021, Sanofi acquires Translate Bio, Inc. This strategic acquisition was aimed at deployment of mRNA technology across vaccines and therapeutics development. This strategy helped the company to maintain long-term business relations and outreach to untapped economies.
- In June 2021, Merck and Sanofi’s launched their partnership bases VAXELIS, first and only six-in-one pediatric combination vaccine in the U.S. market. VAXELIS is indicated for active immunization to help prevent diphtheria, tetanus, pertussis, poliomyelitis, hepatitis B, and invasive disease due to Haemophilus influenzae type B. This strategy helped the company to strengthen its revenue stream and consolidate market position.
The hepatitis B vaccine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Type
- Single Antigen Vaccine
- Combination Vaccine
By End-use
- Hospitals
- Clinics
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Sweden
- The Netherlands
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Indonesia
- Philippines
- Malaysia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Turkey
- Iran
- Rest of MEA
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