Market Research Report
Global Hepatitis B Vaccine Market - 2021-2028
|Global Hepatitis B Vaccine Market - 2021-2028|
Published: February 9, 2022
Content info: 180 Pages
Delivery time: 2 business days
The global hepatitis B vaccine market size was valued at US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
The hepatitis B vaccine is a vaccine that protects against hepatitis B. The first dose should be given within 24 hours of birth, followed by two or three more doses.
The factors driving the hepatitis B vaccine market are the increasing demand for hepatitis B vaccination and the growing prevalence of hepatitis B.
The increasing demand for hepatitis B vaccination is expected to drive the market growth
Hepatitis B is a potentially fatal disease caused by a virus that attacks the liver. The virus, known as hepatitis B virus (HBV), can cause lifelong infection, cirrhosis (liver scarring), liver cancer, liver failure, and death. To prevent HBV infection, a Hepatitis B vaccine is available for people of all ages.
In 2017, Hepatitis B vaccination coverage among adults was approximately 25.8 percent for adults aged 19 to 49 years, 34.3 percent for adults aged 19 to 49 years, and 16.6 percent for adults aged 50 years hepatitis B. Every year, approximately 1.5 million people become infected for the first time. Almost 300 million people are infected on a long-term basis. Only about 10% of those who are infected are diagnosed. Hepatitis B kills about two people every minute.
Hence, with the increasing incidence of hepatitis B, the demand for hepatitis B vaccination is expected to grow.
The side effects associated with the hepatitis B vaccine is expected to hamper the market growth
The hepatitis B vaccine, like any medication, may have some side effects. The majority of people do not experience any negative side effects. A sore arm from the injection site is the most common symptom. Mild side effects typically last no more than a day or two. Some of the vaccine's minor side effects are the injection site may experience redness, swelling, or itching, a purple spot or lump where the injection was made, headache, dizziness, fatigue, irritability, or agitation, particularly in children. Sore throat, a runny or stuffy nose, a fever of 100 degrees Fahrenheit or higher, nausea.
Around one out of every ten people who receive the hepatitis B vaccine experience common side effects. Uncommon side effects may occur in one out of every 100 people, while more serious side effects are uncommon, affecting only about one out of every 1,000 people.
People with hepatitis B have faced increased challenges in accessing medical care and treatment in the United States during the COVID-19 pandemic due to delayed appointments and the de-prioritization of routine hepatitis or primary care services. Patients have not only had to adjust to telemedicine, but they have also had difficulty getting antiviral refills and mail-order delivery disruptions. Others have reported difficulty navigating specific health information about COVID-19 for people with liver disease and concerns about the safety and efficacy of COVID-19 vaccines for people with hepatitis B and liver disease.
Community-based organizations (CBOs) that provide direct public health services such as HBV education, screening, and vaccination have also had a difficult year. According to a 2020 survey conducted by Hep B United, nearly two-thirds of CBOs providing viral hepatitis services received insufficient or no funding to adapt during the pandemic. Many community-based organizations were unable to provide hepatitis testing, vaccination, or community outreach, and more than half were forced to furlough or lay off employees. Hence, the COVID-19 impacted the global hepatitis B vaccine market.
The combination vaccine segment is expected to dominate the market growth in the forecast period
Due to its protection against multiple causative agents, the combination vaccines segment is expected to dominate the hepatitis B vaccine market. The combination vaccine also reduces the cost of packaging for individual vaccines, contributing to segment market growth. There are three commercially available combined hepatitis A and B vaccine preparations in various countries a two-dose pediatric formulation (Ambirix) [administered at months 0 and 6-12], and a three-dose adult (Twinrix Adult) or pediatric (Twinrix Paediatric) formulation (administered at months 0, 1 and 6). For instance, the Twinrix combination vaccine can protect against hepatitis B and hepatitis A. Other names for combination vaccines include Ambirix, Comvax, and Hexacima/Hexyon.
North America region is expected to hold the largest market share in the global hepatitis B vaccine market
The region is primarily growing due to an increase in Hepatitis B cases. Because of its advanced healthcare infrastructure, the region has a potential share. Hepatitis B is estimated to affect 850,000 people in the United States. The true figure could be as high as 2.2 million or as low as 730,000.
The increasing FDA approvals in this region are also expected to drive market growth. On December 26th, 2018, VAXELIS, diphtheria, tetanus, and acellular pertussis adsorbed, inactivated poliovirus, haemophilus B conjugate, and hepatitis B vaccine has been approved by the US FDA for children aged 6 weeks to 4 years. Furthermore, on Jul 28, 2017, The U.S. FDA had approved Dynavax Technologies Corporation's HEPLISAV-B to prevent hepatitis B virus infection caused by all known subtypes in adults aged 18 and older.
The global hepatitis B vaccine market is highly competitive with increasing acquisitions, collaboration, and product launches. Some of the key players in the market are Sanofi, Merck & Co., Inc., GlaxoSmithKline plc, Indian Immunologicals Limited, LG Chem, KM Biologics, Dynavax Technologies, Bharat Biotech, Serum Institute of India Pvt. Ltd.
Merck & Co., Inc.
Overview: Merck & Co., Inc. is a global health care company that delivers innovative health solutions through prescription medicines, vaccines, biologic therapies, and animal health products. The Company's operations are principally managed on a product basis and include two operating segments: the pharmaceutical and animal health segments, both reportable. The pharmaceutical segment includes human health pharmaceutical and vaccine products. The company was founded in 1891.
Product Portfolio: The company's VAXELIS is a vaccine indicated for active immunization against diphtheria, tetanus, pertussis, poliomyelitis, hepatitis B, and Haemophilus influenzae type b invasive disease. VAXELIS is a drug that has been approved for use as a 3-dose series in children aged 6 weeks to 4 years.
Key Developments: On December 24th, 2018, VAXELIS Hepatitis B [Recombinant] Vaccine) has been approved by the US Food and Drug Administration for use in children aged 6 weeks to 4 years. VAXELIS was created due to a collaboration between Merck, known as MSD outside of the United States and Canada, and Sanofi.
The global hepatitis B vaccine market report would provide an access to an approx. 45+market data table, 40+ figures and 180 pages.
Global Hepatitis B Vaccine Market- By Type
Global Hepatitis B Vaccine Market- By End User
Global Hepatitis B Vaccine Market- By Region
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