Hepatitis B Vaccine Market is estimated to register CAGR 5.8% during the forecast period 2019-2027
A recently published report by Research Nester on “Hepatitis B Vaccine Market: Global Demand Analysis & Opportunity Outlook 2027″ delivers detailed overview of the global hepatitis B vaccine market in terms of market segmentation by type, by dose, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The number of hepatitis B cases have increased vastly in the recent years. Moreover, rise in population, increase in awareness among people for improved healthcare facilities and innovations in the type of medications with better efficiency is leading towards the growth of the market. New types of vaccines are available in the market such as recombinant DNA vaccines, produced by inserting hepatitis B virus.
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Furthermore, increased focus on combination vaccines on account of their ability to confer protection against multiple causative agents has led to the market growth. Attributing to these factors, the market is anticipated to record a CAGR of around 5.8% over the forecast period i.e.2019-2027.
The market is segmented by type into single antigen hepatitis B vaccine and combination vaccines out of which, the combination vaccine segment is anticipated to have significant growth on account of their ability to give protection against multiple causing agents and decreasing the cost of administering individual vaccines.
The market is further segmented by dose into 3-dose schedule, 2-dose schedule and alternate schedule out of which, 3-dose schedule is anticipated to achieve maximum absolute $ opportunity growth in the market on account of infants being at high risk of developing lifelong infection in case they are exposed to hepatitis B virus. Moreover, alternate schedule which is recommended for adolescents is expected to have significant growth owing to their potentially experimental lifestyle choices which place them at high risk of getting infected to hepatitis B virus. By end users, the market is segmented into hospitals, clinics and others.
North America region is anticipated to dominate the market owing to increased prevalence of cases and improvements in the healthcare facilities in the region. Additionally, government is taking various initiatives in developing awareness among people. Asia Pacific is projected to witness high growth during the forecast period. India and China are anticipated to be the fastest growing markets in the Asia Pacific region on account of huge investments by companies in these countries.
Government Initiatives and Increasing Awareness to Boost the Growth of the Market
Government is continuously taking initiatives on decreasing the cases of hepatitis B and creating awareness among people such as Ministry of Health and Family Welfare under Government of India, launched National Viral Hepatitis Control Program on the occasion of World Hepatitis Day, 28 July 2018 aiming to end viral hepatitis by 2030. These initiatives are driving the growth of the hepatitis B vaccine market.
The hepatitis B treatment is very costly. People belonging to low income and middle income groups may not be able to afford it which ultimately, creates non willingness among people and leads to severe effects of such viral infections. This may lead to death of large proportion of people across the globe. This factor may retrain the growth of the hepatitis B vaccine market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global hepatitis B vaccine market which includes company profiling of Sanofi Pasteur, Merck, GlaxoSmithKline, Human Biologicals Institute, LG Life Sciences, Kaketsuke, Dynavax Technologies, and Janssen Pharmaceuticals.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hepatitis B vaccine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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