The Global Hepatitis B Vaccine Market size is expected to reach around US$ 2,136.7 Mn by 2026 and growing at a CAGR of around 5.8% from forecast period 2019 to 2026.
A Hepatitis B Vaccine is manufactured to prevent HBV infection. Hepatitis B virus (HBV) causes potential life-threatening liver infection, which is more frequently, occurs in people with a weakened immune system. The hepatitis B vaccine is safe and effective and is recommended to infants and children up to 18 years by the World Health Organization (WHO) and the U.S. Centers for Disease Control and Prevention (CDC). The vaccine is recommended to the people living with diabetes and also to people who are at high risk of infection due to their jobs, living environment, lifestyle or birth country. Furthermore, the Hepatitis B Vaccine is also known as the first anti-cancer vaccine because it prevents hepatitis B which is a leading cause of liver cancer.
The increasing number of Hepatitis B Vaccine cases across the globe is primarily driving the market growth. The increasing government initiatives for spreading awareness among the residents about the benefits of the hepatitis B vaccine. For instance, the Ministry of Health and Family Welfare, India has launched the National Viral Hepatitis Control Program on the occasion of 2018 World Hepatitis Day the program is intended to end HBV infection by 2030. In addition, the increasing healthcare expenditure in various emerging economies is further propelling the market value. Moreover, the increasing R&D activities and rising development of innovative products in the market is further expected to create potential opportunity over the forecast period.
On the other hand, the high cost associated with the treatment and medication of the hepatitis B vaccine is expected to hamper the market growth over the forecast period.
By Type, Combination Vaccines segment dominated the global Hepatitis B Vaccine Market
Combination vaccines held the major share owing to its property of protecting against multiple strains of pathogens. These vaccines are mostly used for newborn infants or immune-compromised patients to improve the immunity power for protesting against several diseases.
In terms of Dose, 3-Dose Schedule segment accounted for the major share in 2018
3-Dose Schedule hepatitis B vaccine held the maximum share in the market in 2018. The segment is also expected to maintain its dominance over the forecast period. Moreover, the 3-Dose Schedule hepatitis B vaccine projected to exhibit the fastest growth during the forecast period owing to an increasing number of products and R&D in the market by major players. Furthermore, 2-Dose schedule hepatitis B is expected to be the fastest growing segment over the estimated period from 2019 to 2026. 2-dose vaccination has higher probability of seroprotection, which will exhibit a lifetime positive impact by improving compliance result in the form of lower infection rate and greater cost-effectiveness.
On the basis of End User, Hospitals segment held the dominant share in the global market
In 2018, the Hospitals segment dominated the global market with a major share and the segment is also expected to witness a major share throughout the forecast period from 2019 to 2026. The segment is gaining potential growth owing to the large volume of products sold in the hospitals. Moreover, Doctor’s office segment is expected to experience fastest growth during the forecast period from 2019 to 2026. The increasing number of private doctor’s offices in the Asia Pacific and Latin America region is projected to contribute to the positive segment growth.
The market research study on “Hepatitis B Vaccine Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global Hepatitis B Vaccine market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global Hepatitis B Vaccine market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Hepatitis B Vaccine market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The Hepatitis B Vaccine market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
North America region dominated the Hepatitis B Vaccine market in 2018
In 2018, the North America region accounted for the major share in the Hepatitis B Vaccine market and is also projected to maintain its dominance throughout the forecast timeframe 2019 to 2026. Additionally, Asia Pacific is expected to experience the fastest growth over the forecast period due to increasing healthcare expenditure and rising awareness about the Hepatitis B Vaccine among the residents.
The players profiled in the report include Sanofi, Merck & Co., Inc., GlaxoSmithKline plc., Indian Immunologicals Limited., LG Chem, KM Biologics, Dynavax Technologies, and Janssen Pharmaceuticals.
Market By Type
Market By Dose
Market By End User
Market By Geography
The Hepatitis B Vaccine is also known as the first anti-cancer vaccine because it prevents hepatitis B which is a leading cause of liver cancer.
Factors such as The increasing number of Hepatitis B Vaccine cases across the globe restrain the hepatitis B vaccine market growth.
According to Acumen Research and Consulting, The hepatitis B vaccine market value is anticipated to be worth around US$ 2,136.7 million in 2026.
The hepatitis B vaccine market is anticipated to grow over 5.8% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for hepatitis B vaccine market.
Asia Pacific is projected to grow at a fast pace during forecast period in the hepatitis B vaccine market.
Sanofi, Merck & Co., Inc., GlaxoSmithKline plc., Indian Immunologicals Limited., LG Chem, and KM Biologics are the top players operating in the hepatitis B vaccine market.