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| Global Hepatitis Vaccine Market Size |
The global 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.
Hepatitis
vaccines help prevent liver infections caused by hepatitis A, B, and C viruses.
Recombinant vaccines are safer and have fewer side effects than older hepatitis
vaccines produced from infected human/animal blood or plasma. They provide
effective protection against hepatitis and help reduce the risks of developing
chronic hepatitis and liver diseases like cirrhosis or liver cancer.
Hepatitis vaccines offer immunization against hepatitis viruses by active
immunization which helps develop adaptive immunity and produce memory cells
that will respond quickly if exposed to these viruses in future. There are
vaccines available for hepatitis A, B, and E which help prevent new infections,
specifically among high-risk groups like healthcare workers, people with
malignant conditions, international travelers, and military personnel who have
high chances of exposure to these viruses. The growing awareness about
advantages of immunization is fueling adoption of hepatitis vaccines globally.
Market key trends:
One of the key trends fueling the hepatitis vaccine market growth is the
increasing demand for recombinant vaccines. Recombinant vaccines use
sophisticated genetic engineering techniques to produce immunogenic proteins of
hepatitis viruses which are safer and have fewer side effects compared to
plasma-derived vaccines produced from infected human blood. They offer
long-lasting immunity, are more stable at variable temperatures, and eliminate
the risk of transmitting other infectious agents. The safety advantages of
recombinant vaccines over plasma-derived vaccines have led to their wider
acceptance globally and driven the market growth. Additionally, rapid
urbanization and globalization have increased the risk of spreading Hepatitis
infections worldwide, thereby boosting the adoption of hepatitis vaccines
programs implemented by governments and international organizations.
Segment Analysis
The global hepatitis vaccine market is segmented by disease type, vaccine type,
end-user, and region. Based on disease type, the hepatitis A segment held the
largest market share in 2023 owing to the high efficiency and availability of
hep A vaccines. Hepatitis A vaccines provide lifelong immunity against the
hepatitis A virus with a single dose booster. Based on vaccine type, the
inactivated vaccines segment accounted for the maximum revenue share in 2023
due to the high prevalence of inactivated hepatitis A and B vaccines. Based on
end-user, the hospitals & clinics segment dominated the market in 2023 as
hospitals offer more advanced healthcare facilities including vaccination.
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 prevalence
of hepatitis and rising awareness regarding vaccinations.
Regional analysis
North America captured the largest revenue share in the hepatitis vaccine
market in 2023 owing to the widespread adoption of advanced vaccination
programs and established healthcare infrastructure in the region. Asia Pacific
is projected to witness the fastest growth during the forecast period owing to rising
healthcare spending, presence of developing countries, and growing epidemic of
hepatitis infections in countries like India and China.
Key players
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. Nestle S.A dominated the market in 2023 due to its diverse
portfolio of hepatitis vaccines for hepatitis A, B, and other viruses. Mars,
Incorporated has a strong brand presence worldwide and offers cost-effective
vaccine options for developing regions.
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