by Hepatitis vaccines are used to prevent viral hepatitis infections caused by hepatitis A, B, and C viruses. They aid in building immunity against the viral infections in humans. Hepatitis vaccines work by exposing the immune system to inactive or weakened form of hepatitis viruses which help the body build antibodies against the actual viruses. There are different types of vaccines available for hepatitis A, hepatitis B, and hepatitis E prevention. These vaccines have proven effective in controlling and eliminating viral hepatitis in many parts of the world.
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 Dynamics:
Growing initiatives by government and non-profit organizations to increase vaccination programs is expected to drive the growth of global hepatitis vaccines market over the forecast period. National immunization programs in developing regions, increased awareness regarding viral hepatitis, and availability of combined vaccines for hepatitis A and B prevention are some other factors propelling the market growth. However, high costs associated with vaccination and limited access in underdeveloped areas may restrain the market to a certain extent.
Segment Analysis
The global hepatitis vaccine market is dominated by the recombinant/sub-unit vaccines sub-segment. Recombinant/sub-unit vaccines help prevent hepatitis by using the surface antigens of the hepatitis virus and are thus more effective than the other types of vaccines. They induce strong and long-lasting immunity without causing infection. With advancing technology, recombinant vaccines are being produced on a large scale and their efficacy and safety profiles have been proven making them a preferred choice.
PEST Analysis
Political: Government policies support preventive healthcare and vaccination programs. Regulations strengthen vaccine safety and clinical trials.
Economic: Rising incidence of hepatitis infections increases medical costs burden. Growing healthcare budgets boost vaccine procurement.
Social: Increasing public health awareness regarding hepatitis prevention through vaccination drives demand. Non-governmental organizations create vaccine accessibility in remote areas.
Technological: New vaccine technologies like DNA/mRNA platforms help develop pan-genotypic and combination hepatitis vaccines with enhanced immunogenicity. Advanced vaccine manufacturing processes improve production capacity.
Key Takeaways
Global Hepatitis Vaccine Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing incidence of hepatitis infections globally.
The Asia Pacific region dominates the global hepatitis vaccine market owing to large patient population, upcoming vaccination programs, and growing healthcare infrastructure in China, India, Japan and South Korea.
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. Recombinant vaccines from GlaxoSmithKline and Merck are estimated to hold over 50% market share through 2030 due to their superior efficacy and safety profiles. Government stockpiling initiatives for pandemic preparedness would further aid industry revenue.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
