Hepatitis Vaccine Market Analysis of Global Market Trends With Size, Share, Growth, Demand And Industry Analysis, Top Leading Players by- Merck and Company, GlaxoSmithKline, Sanofi Pasture, CSL Behring GmbH, Novartis AG and Pfizer Inc. to Forecast by 2026
Hepatitis Vaccine Market – Insights
Hepatitis is an infectious disease caused by the hepatitis virus. Based on the type of virus, there are three types of hepatitis include hepatitis A, hepatitis B, and hepatitis C. Hepatitis virus also leads to diseases such as liver cirrhosis, hepatocellular carcinoma, and liver failure. A major source of the infection is contact with body fluids of the infected person. Hepatitis A and hepatitis B can be prevented through vaccination. Hepatitis is more common in children and the prevalence of hepatitis B is more compared to hepatitis A worldwide. Engerix-B, Havrix (Glaxosmithkline), Recombivax, Vaqta (Merck and Company), Euvax – Avaxim (Sanofi Pasteur), and Shanvac B (Shantha Biotech) are some of the leading brands of hepatitis vaccine.
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Hepatitis Vaccine Market: Drivers
Increasing awareness regarding the advantages of hepatitis vaccination is expected to propel growth of the market. Moreover, increasing prevalence of hepatitis is a major factor boosting growth of the global hepatitis vaccine market. For instance, according to World Hepatitis Report published in 2017 by the World Health Organization (WHO), around 325 million people worldwide are living with chronic hepatitis B virus infection (HBV) or hepatitis C virus (HCV) infection. Moreover, around 1.34 million deaths were caused due to viral hepatitis and around 1.75 million people were infected with hepatitis B virus infection in 2015.
Furthermore, increasing population is expected to contribute to growth of the hepatitis vaccine market. For instance, according to the World Population Report published in 2017, world population would surpass mark of 9 billion by 2025 thereby adding more live birth annually. According to guideline published by WHO, vaccine for hepatitis B has to administer within first 24 hour of the birth in order to prevent the hepatitis B infection in infants.
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Hepatitis Vaccine Market: Restraints
A major factor hindering growth of the market is high cost of hepatitis vaccines. Several government and international organizations such as the WHO are focused on offering the hepatitis vaccine at affordable rates. Moreover, accessibility of these vaccines is still low in emerging regions of Asia Pacific and Africa, both with significant prevalence of hepatitis. These factors are expected to hinder growth of the market.
Hepatitis Vaccine Market: Opportunities
There is no vaccine for hepatitis C. Therefore, key players in the market can focus on developing vaccine for hepatitis C, which is the most common type of hepatitis after hepatitis B. Moreover, existing vaccines for hepatitis B are ineffective in adults and diabetic patients. Such scenarios offer lucrative growth opportunities for the market players.
Hepatitis Vaccine Market: Regional Analysis
North America is expected to account for the largest market share over the forecast period. This is attributed to increasing prevalence of hepatitis in the region. For instance, according to the Centers for Disease Control (CDC), in 2016, a total of 2,967 new cases of acute hepatitis C were reported and a total of 41,200 persons were newly infected with hepatitis C in 2016 in the U.S.
The market in Asia Pacific is driven by high prevalence of hepatitis in the region. For instance, according to World Hepatitis Report, 2017, 154 million people in Asia Pacific were suffering from hepatitis B. Moreover, according to the WHO, 2% to 5% of general population is affected with chronic hepatitis in Asia Pacific. The market in Middle East & Africa is also driven by high prevalence of hepatitis B in the region.
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Hepatitis Vaccine Market: Competitive Landscape
Key players in the market are focused on product approval and launch to expand their product portfolio. For instance, in September 2017, Dynavax Technologies Corporation received the U.S. Food and Drug Administration (FDA) approval for its hepatitis B vaccine HEPLISAV-B to be used in adults.
Major players operating in the global hepatitis vaccines market include, Novartis AG, Pfizer Inc., Merck and Company, GlaxoSmithKline, Sanofi Pasture, and CSL Behring GmbH.
Hepatitis Vaccine Market: Taxonomy
- Hepatitis A
- Hepatitis B
By Vaccine Type
- Recombinant Vaccine
- Inactivated Vaccine
By Distribution Channel
- Retail Pharmacy
- Online Pharmacy
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Amongst indication, hepatitis B vaccine holds larger market share due to higher prevalence of hepatitis B infection and presence of different companies in the production and marketing of these vaccine. Recombinant vaccine is largest shareholder in vaccine type segment as it is most commonly used in the hepatitis B vaccine. Amongst distribution channel retail pharmacy holds major share.
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