Global Hepatitis A Vaccine Market - 2022-2029

Market Overview

Hepatitis A Vaccine Market size was valued at USD 876.9 million in 2021 and is estimated to reach at a compound annual growth rate (CAGR) of 3.5% over the forecast period 2022 to 2029.

Hepatitis A vaccine is a vaccine that prevents hepatitis A. The disease is a liver disorder caused by the hepatitis A virus leading from mild to severe illness. The Hepatitis A Virus (HAV) is transferred through either ingestion of contaminated food and water or direct contact with an infectious person. The disease has a propensity for cyclic reappearances, which occurs in epidemics globally. The antibodies introduced in response to the disease lasts through life and protect against recurrence of infection, the best way for which is through vaccination. It is given in two doses injected six months apart. The major factors propelling the growth of the Hepatitis A vaccine market are the increasing prevalence of hepatitis A globally, which leads to increasing concerns for vaccination. The rise in the number of Hepatitis A cases propels the national governments and healthcare organizations to introduce steps to increase awareness about the disease and manage vaccination drives in the risk-prone areas. Further continuous efforts by the market players to promote Hepatitis A vaccines drive the market growth.

Market Dynamics: Increasing government initiatives for prevention

Hepatitis A Vaccine is used to submerge the rising cases of Hepatitis A. As per the Center for Disease Control, in 2018, the U.S. reported a total of 12,474 hepatitis A cases, and the organization estimated the actual number of cases reported in the year to be 24,900 owing to the undiagnosed cases. This has propelled governments to increase their efforts for awareness, diagnosis, treatment, and vaccination. As of 21 April 2022, at least 169 cases of acute hepatitis of unknown origin have been reported from 11 countries in the WHO European Region and one country in the WHO Region of the Americas. According to the WHO, approximately 90.0% of children are infected with the hepatitis A virus before 10 years in developed countries with inadequate sanitary conditions and sanitation habits. Government vaccination programs are propelling the worldwide market for hepatitis A vaccines in developing countries.

On the other hand, lack of awareness concerning the Hepatitis A disease among individuals is a key factor expected to curtail the global market's growth over the forecast period. Moreover, resistance among the population for diagnosis also obstructs market growth.

Market Segmentation: Inactivated vaccine segment is projected to be the dominant segment in the market during the forecast period

Inactivated vaccines dominated the global market in 2019, also it is expected to present considerable growth shortly. Inactivated Vaccines are safe and highly functional. A two-dose schedule is traditionally recommended, particularly for travelers at significant risk of contracting hepatitis A and immunocompromised individuals. However, with a single dosage, equivalent efficacy has been achieved in stable people. This is expected to propel segmental growth soon.

Based on application, government institutions held the dominant position in the global market during the forecast period. Patients depend on public healthcare facilities for diagnosis and proper vaccination of Hepatitis A, supporting the segment growth during the forecast period. Moreover, the surging government programs offering vaccination drives are expected to project a considerable CAGR during the forecast period.

Geographical Penetration: Asia-Pacific is expected to dominate the global Hepatitis A Vaccine market

Asia-Pacific held a dominant position in the global Hepatitis A Vaccine market in 2021. In Asia-Pacific, China is expected to represent considerable growth during the forecast period. As in China, the live attenuated Hepatitis A Vaccine is becoming a favorable element to tackle the disease. Moreover, Europe is expected to represent significant growth in terms of value during the forecast period. The easy availability of vaccines at a comparatively lower cost is expected to propel market growth across the region. The Hepatitis A Vaccine market for the Asia Pacific is expected to observe rapid growth over the forecast period, backed by government policies and programs, especially in India and China. Moreover, the rise in the pediatric population and increased awareness about vaccination results in increasing demand for Hepatitis A Vaccine in emerging economies, such as India and China, which is expected to augment Asia Pacific's growth Hepatitis A Vaccine market.

Competitive Landscape:

The Hepatitis A Vaccine market is highly competitive, owing to the presence of major market players. The key Hepatitis A Vaccine player contributing to the global market's growth include GlaxoSmithKline, Merck & Co. Inc., Sanofi, Sinovac, Zhejiang Pukang, Changchun Institute of Biological, KM Biologics, IMBCA, ChangSheng, Convac, among others. The major players are adopting new expansion strategies for global growth in the Hepatitis A Vaccine market.

COVID-19 Impact: Negative impact on the global Hepatitis A Vaccine market

The outbreak of COVID-19 has negatively impacted the growth of the Hepatitis A Vaccine market globally. The disruption in the supply chain has majorly impacted the growth of the market amidst the pandemic. The escalated focus on COVID-19 vaccine development, product type, and distribution has led to de-escalation in Hepatitis A vaccines. Therefore, the COVID-19 pandemic has hampered the market value of the Hepatitis A Vaccine market in 2021

The global Hepatitis A Vaccine market report would provide an access to approximately 48 market data tables, 43 figures and 190 pages