Hepatitis Vaccine Market

Global Hepatitis Vaccine Market Size (2023 to 2028)

The global hepatitis vaccine market is expected to grow at a promising CAGR during the forecast period.

Hepatitis is an infectious diseases and affects liver part of the human body causing inflammation. Reasons such as viral infections, consumption of alcohol, toxins and autoimmune diseases majorly result with the diagnosis of hepatitis in people. Hepatitis is majorly categorised into 2 parts, which are viral hepatitis and non-viral hepatitis. Viral hepatitis is further categorised into Hepatitis A, B, C, D and E.

MARKET DRIVERS:

The growing prevalence of hepatitis is majorly driving the growth of the global hepatitis vaccine market. Among various types of hepatitis, the prevalence of hepatitis B and C is high and driving the demand for vaccines to the prevent these infections. As per the statistics published by the World Health Organization (WHO) in July’23, an estimated 260 million people worldwide were suffered from hepatitis B in 2019 and also projected approximately 1.5 new million infection cases have been adding every year.  As per the same source, an estimated 290,000 people died from hepatitis in 2019. The growing number of people suffering from hepatitis has highlighted the demand for vaccines and is contributing to the global market growth.

An increasing number of awareness programs and vaccination programs around hepatitis, especially in the developing countries is propelling the global hepatitis vaccine market growth. The renowned healthcare agencies such as WHO, CDC, GAVI and UNICEF have been conducting several programs to promote the awareness regarding the infectious diseases and organizing vaccination programs. In the recent years, the people’s understanding of hepatitis have improved significantly and resulted in the increased adoption of preventative measures.

The growing number of initiatives, funding and policies from the governments of several countries to improve the awareness among people of hepatitis and organize the vaccination programs is supporting the growth of the global market. Factors such as the growing healthcare spending, increasing R&D efforts by the market participants to bring more effective hepatitis vaccines to availability, rising incidence of HCC, increasing number of people travelling different countries and increasing awareness among the healthcare professionals regarding the risk of mother-to-child risk transmission of hepatitis B are further promoting the growth of the worldwide hepatitis vaccine market.

MARKET RESTRAINTS:

High cost of hepatitis vaccines is limiting the adoption of these countries in the low-income countries and hampering the growth rate of the global market. The distribution and administration of hepatitis vaccines has become a challenge in several developing and underdeveloped nations, which is diluting the growth of the worldwide market. The awareness of the risks of hepatitis among people is on a rise among people, however, the awareness still has to be improved to a significant level and this poor awareness is one of the notable restraints to the global hepatitis vaccines market.

Impact of COVID-19 pandemic on the global hepatitis vaccine market:

During the timeline of the COVID-19 pandemic on the global hepatitis vaccine market was negative. The global market has faced several challenges to the sudden arrival of COVID-19 pandemic. Lockdowns, increased pressure on the healthcare systems and shifting entire focus towards attending the COVID-19 priorities have resulted in a reduced demand for vaccinations including hepatitis. The number of patient visits to the hospitals for medical check-ups and vaccinations have significantly reduced during the COVID-19 pandemic due to the fear of exposure to the virus and lockdown measures. This has resulted in a reduced demand for hepatitis vaccines and affected the global market negatively. Furthermore, factors such as supply chain disruptions, reallocation of healthcare resources towards COVID-19 cases and delayed clinical trials have further caused a decline in the demand levels of hepatitis vaccine and impacted the global market growth negatively. Likewise, the global hepatitis vaccine market has experienced several challenges due to the COVID-19 pandemic. However, the global market has started recovering from this negative impact post-pandemic and is predicted to witness healthy growth during the forecast period.

REPORT COVERAGE:

This research report on the global hepatitis vaccine market has been segmented and sub-segmented into the following categories.

Global Hepatitis Vaccine Market – By Indication:

• Hepatitis A
• Hepatitis B
• Hepatitis C

The hepatitis B segment was the largest segment in the global market in 2022 and is expected to grow at a healthy CAGR during the forecast period. The growing prevalence of hepatitis B, increasing usage of hepatitis B vaccines among the new-borns, rising awareness among people regarding the risks of hepatitis B and an increasing number of vaccination programs from the governments of several countries to limit the spread of hepatitis B are majorly propelling the growth of the hepatitis  B segment in the global market.

Global Hepatitis Vaccine Market – By Vaccine Type:

• Recombinant Vaccine
• Inactivated Vaccine

The inactivated vaccine segment accounted for the leading share of the worldwide market in 2022. The domination of the segment is majorly attributed to the proven track record and global accessibility of inactivated vaccines. The affordability of inactivated vaccines is another major factor propelling the segmental growth.

Global Hepatitis Vaccine Market – By Distribution Channel:

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

The hospital pharmacy segment led the market in 2022 and the lead of hospital pharmacy segment in the global market is anticipated to continue throughout the forecast period. The professional administration of hepatitis vaccines by hospitals and growing number of vaccination programs by several hospitals are driving the growth of the hospital pharmacy segment in the global market.

Global Hepatitis Vaccine Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America dominated the hepatitis vaccine market in 2022 and the domination of North America is anticipated to continue during the forecast period. The presence of high awareness of hepatitis and the risks associated with hepatitis among the people and healthcare professionals in North America is majorly propelling the North American market growth. The availability of robust healthcare infrastructure, emphasis of people on routine vaccination check-ups and ongoing R&D efforts by the market participants to develop next-generation vaccines are further fuelling the growth rate of the North American market. The U.S. accounted for the largest share of the North American market in 2022 and the pattern is projected to repeat during the forecast period. Hepatitis C is a significant concern in the U.S., which is a key factor driving the U.S. market growth. The emphasis of U.S. on implementing comprehensive surveillance and vaccination programs and growing number of vaccination initiatives are driving the U.S. market growth.

Europe is another noteworthy regional market for hepatitis vaccines worldwide. During the forecast period, Europe is predicted to account for a substantial share of the worldwide market. The growing awareness of hepatitis among people in the European countries and increasing emphasis of immunization in the public health policies in Europe are primarily favouring the European market growth. The growing efforts from the governmental authorities to fight hepatitis transmission and rising emphasis on preventive healthcare are further promoting the European market growth. Germany, France and the UK are estimated to capture the major share of the European market during the forecast period owing to their well-established healthcare systems.

The Asia-Pacific regional market is predicted to showcase a promising CAGR during the forecast period. The prevalence of hepatitis B is high in the Asia-Pacific countries compared to the other regions, which is one of the noteworthy factors contributing to the hepatitis vaccine market growth in Asia-Pacific. The growing efforts from the governments of APAC countries such as India, Japan and China to improve the vaccination coverage is further contributing to the growth of the APAC market. Japan is expected to hold a significant share of the APAC market during the forecast period owing to the comprehensive focus of the Japanese government to reduce the burden of hepatitis and increasing number of vaccination programs.

Regions such as Latin America, Middle East and Africa are expected to account for a considerable share of the worldwide market during the forecast period.

KEY MARKET PLAYERS:

Merck and Company, GlaxoSmithKline (GSK), Sanofi Pasteur, CSL Behring GmbH, Novartis AG, Pfizer Inc., Astellas Pharma Inc., Gilead Sciences, Inc, Dynavax Technologies, Bharat Biotech, VBI Vaccines Inc., NCPC, Bio Kangtai, Hissen, KM Biologics, LG Life Sciences, Serum Institute, Sinovac, Zhejiang Pukang, IMBCA and ChangSheng are the notable players in the global hepatitis vaccine market.

RECENT MARKET HAPPENINGS:

• In March 2023, GSK, which is one of the leaders in the global hepatitis vaccine market, announced to start their phase 3 clinical trials of their GSK’s investigational hepatitis therapy called bepirovirsen.
• In April 2023, Sanofi introduced an inactive hepatitis vaccine called AVAXIM Junior in the UK for the children who are aged between 12 months and 15 years.