Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Introduction to Hepatitis B Vaccine
Hepatitis B is a liver disease suffered mainly by adults, is passed from person to person generally through infected blood during blood transfusions if blood is not screened before transmission for contamination. This disease is predominant in high risk populations such as drug addicts, health care workers exposed to blood, prisoners, heterosexual and homosexual adults and babies born to infected mothers during a C-section or vaginal delivery.
Hepatitis B vaccine is used to prevent hepatitis B disease. For an infant, the first dose is recommended within 24 hours of birth with 2 or 3 doses given after the first dose. This involves infants with poor immune function from HIV/AIDS and those having premature birth. Currently, the vaccines are produced with recombinant DNA techniques. They are available by themselves and in combination with other vaccines as well. Serious side effects from hepatitis B vaccine are not common and this may include pain at the site of injection. It is safe for use while breastfeeding or during pregnancy.
Market Size and Forecast
Increasing number of cases of hepatitis B infection is expected to drive the market growth at a significant rate. Additionally, rise in population and increase in awareness among people for improved healthcare facilities and innovations in some new type of medications with better efficiency is leading to an increase in the market growth. Various types of vaccines are being made available in the market, for instance recombinant DNA vaccines which is produced by inserting hepatitis B virus. Growth in economies and demographics in the developing countries are projected to offer better opportunities for the market. Companies in the global hepatitis B vaccine market are getting into mergers & acquisitions, improving their R&D activities and launching new products to improve their market share and to retain their position in the market. Moreover, there is an increased focus on combination vaccines owing to their ability to confer protection against multiple causative agents and thus decreasing the cost incurred in packaging and administering individual vaccines.
The global hepatitis B vaccine 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, dose & end users. 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. CLICK TO DOWNLOAD FREE SAMPLE
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 have leading shares on account of infants being at high risk of developing lifelong infection in case they are exposed to hepatitis B virus. Presently, 1/3rd of infected adults were exposed to this virus in childhood. 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. On the basis of end users, the market is segmented into hospitals, clinics and others.
Growth Drivers
Increasing Awareness and Government Initiatives
Government is continuously working and taking initiatives on decreasing the cases of hepatitis B and creating awareness among people. For instance, 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 during the forecast period.
Restraints
High Cost and Non-Willingness by People
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.
Market Segmentation
Our-in depth analysis of the hepatitis B vaccine market includes the following segments:
By Type
By Dose
By End Users
By Region
On the basis of regional analysis, the hepatitis B vaccine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
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 to educate people and 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.
The hepatitis B vaccine market is further classified on the basis of region as follows:
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