The Global Hepatitis B Vaccine Market Size accounted for USD 5.6 Billion in 2022 and is estimated to achieve a market size of USD 9.5 Billion by 2032 growing at a CAGR of 5.5% from 2023 to 2032.
Hepatitis B Vaccine Market Highlights
The Hepatitis B vaccine is manufactured to prevent HBV infection, a potentially life-threatening liver infection caused by the Hepatitis B virus (HBV). It is considered safe and effective, and it is recommended by both the World Health Organization (WHO) and the U.S. Centers for Disease Control and Prevention (CDC) for infants, children up to 18 years old, and people living with diabetes. Additionally, it is recommended for individuals at high risk of infection due to their occupation, living environment, lifestyle, or country of birth. Moreover, the Hepatitis B Vaccine is often referred to as the first anti-cancer vaccine because it helps prevent Hepatitis B, a leading cause of liver cancer.
Global Hepatitis B Vaccine Market Dynamics
Hepatitis B Vaccine Market Report Coverage
|Hepatitis B Vaccine Market
|Hepatitis B Vaccine Market Size 2022
|USD 5.6 Billion
|Hepatitis B Vaccine Market Forecast 2032
|USD 9.5 Billion
|Hepatitis B Vaccine Market CAGR During 2023 - 2032
|Hepatitis B Vaccine Market Analysis Period
|2020 - 2032
|Hepatitis B Vaccine Market Base Year
|Hepatitis B Vaccine Market Forecast Data
|2023 - 2032
|By Type, By Dose, By End-User, And By Geography
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|Key Companies Profiled
|Novartis AG, CSL Ltd, Dynavax Technologies, Beijing Minhai Biotechnology, Emergent Biosolutions, GlaxoSmithKline Biologicals, Merck & Co, Inc, Pfizer Inc., Sanofi Pasteur, Serum Institute of India, Emergent Biosolutions, and Sinovac Biotech.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis
Hepatitis B Vaccine Market Insights
The increasing number of hepatitis B cases worldwide is the primary driver of hepatitis B vaccines market growth. Governments are taking initiatives to raise awareness among residents about the benefits of the hepatitis B vaccine. For instance, India's Ministry of Health and Family Welfare launched the National Viral Hepatitis Control Program on World Hepatitis Day in 2018, with the goal of ending HBV infections by 2032. Additionally, increased healthcare expenditure in emerging economies is further boosting hepatitis B market value. Moreover, the growing research and development activities and the development of innovative products in the market are expected to create potential opportunities over the forecast period.
This viral disease, hepatitis B, can be transmitted from one person to another, and it is becoming more common globally. This trend is expected to contribute to the growth of the hepatitis B vaccine market, as increasing concerns and the development of more efficient treatments are likely to provide opportunities for the market. However, the lack of vaccination in the market will hinder its growth.
Hepatitis B Vaccine Market Segmentation
The worldwide market for hepatitis B vaccine is split based on type, dose, end-user, and geography.
Hepatitis B Vaccine Types
The global hepatitis B vaccine Market is divided into two segments based on vaccine type: Single antigen hepatitis B vaccine and combination vaccines. Within the type segment, the combination vaccines segment has dominated the market. Combination vaccines hold the majority share due to their ability to protect against multiple strains of pathogens. These vaccines are primarily used for newborn infants or immune-compromised patients to enhance their immune response and provide protection against various diseases.
Hepatitis B Vaccine Doses
In recent years, the 3-dose schedule hepatitis B vaccine has held the largest market share, and it is expected to maintain its dominance over the forecast period. Moreover, the 3-dose schedule hepatitis B vaccine is projected to exhibit the fastest growth during this period, thanks to increasing product offerings and research and development efforts by major players in the market. Furthermore, the 2-dose schedule hepatitis B vaccine is expected to be the fastest-growing segment during the estimated period from 2019 to 2026. This two-dose vaccination approach has a higher probability of achieving seroprotection, which will have a long-lasting positive impact by improving compliance and resulting in a lower infection rate and greater cost-effectiveness.
Hepatitis B Vaccine End-Users
In the past year, the hospitals segment dominated the global market with a significant share, and it is also expected to maintain a substantial share throughout the forecast period from 2023 to 2032. This segment is experiencing potential growth due to the high volume of products sold in hospitals. Moreover, the clinics segment is expected to experience the fastest growth during the forecast period from 2023 to 2032. The increasing number of private clinics in the Asia-Pacific and Latin America regions is projected to contribute to this positive segment growth.
Hepatitis B Vaccine Market Regional Outlook
The Middle East & Africa
Hepatitis B Vaccine Market Regional Analysis
In terms of regional segments, North America has consistently held the largest revenue share in the hepatitis B vaccine market in recent years. This growth can be attributed to the increased prevalence of hepatitis B disease. In the United States, the demand for hepatitis B vaccine has risen due to health concerns, further bolstering market growth in the region.
Europe follows closely behind with the second-largest revenue share in the hepatitis B vaccine market. This growth can be attributed to the increasing coverage of newborn neonates against hepatitis B infection. The rising demand for hepatitis B vaccines in Europe is expected to drive further market growth in the coming years.
On the other hand, the Asia-Pacific region is experiencing the fastest growth in the hepatitis B vaccine market. China, in particular, is witnessing a surge in the prevalence of the disease, coupled with increased government funding and support from key players, as well as expanded vaccine manufacturing. Additionally, growing collaborations for the development of novel vaccines are anticipated to be key drivers for market growth in the Asia-Pacific region.
Hepatitis B Vaccine Market Players
Some of the top hepatitis B vaccine companies offered in our report include Novartis AG, CSL Ltd, Dynavax Technologies, Beijing Minhai Biotechnology, Emergent Biosolutions, GlaxoSmithKline Biologicals, Merck & Co, Inc, Pfizer Inc., Sanofi Pasteur, Serum Institute of India, Emergent Biosolutions, and Sinovac Biotech.
The market size of hepatitis B vaccine was USD 5.6 billion in 2022.
The CAGR of hepatitis B vaccine is 5.5% during the analysis period of 2023 to 2032.
The key players operating in the global market are including Novartis AG, CSL Ltd, Dynavax Technologies, Beijing Minhai Biotechnology, Emergent Biosolutions, GlaxoSmithKline Biologicals, Merck & Co, Inc, Pfizer Inc., Sanofi Pasteur, Serum Institute of India, Emergent Biosolutions, and Sinovac Biotech.
North America held the dominating position in hepatitis B vaccine industry during the analysis period of 2023 to 2032.
Asia-Pacific region exhibited fastest growing CAGR for market of hepatitis B vaccine during the analysis period of 2023 to 2032.
The current trends and dynamics in the hepatitis B vaccine industry include growing awareness of hepatitis B's health risks, expanding vaccination programs in developing countries, rising healthcare expenditure globally, and technological advancements in vaccine development.
The combination vaccines type held the maximum share of the hepatitis B vaccine industry.