Dublin, Nov. 10, 2023 (GLOBE NEWSWIRE) — “Global Hepatitis B Virus (HBV) Vaccine Market by End User, Component and Region: Insights and Forecasts on Potential Impact of COVID-19 (2022-2027) “Report has been added to ResearchAndMarkets.com Dedication.
The global hepatitis B virus (HBV) vaccine market is on a growth trajectory, with the market value expected to reach US$2.47 billion by 2023, with a compound annual growth rate (CAGR) expected to be as high as 5.33% during the period.
Hepatitis B virus (HBV) is a virus that infects the liver and can be spread through a variety of ways, including contact with infected blood or body fluids, sexual contact, sharing needles, or exposure in a health care setting. Perinatal transmission from infected mothers to newborns is also a significant concern.
Hepatitis B vaccine: key to eradicating hepatitis B
Hepatitis B vaccines are an important tool in the World Health Organization’s (WHO) mission to eliminate hepatitis B by 2030. Since the approval of the first hepatitis B vaccine in 1981, significant progress has been made in the development of hepatitis B vaccines. Vaccine recommendations have evolved over time and now advocate universal HBV immunization for all individuals under 60 years of age.
segmentation
The global hepatitis B vaccine market is segmented into adults and children based on end users. The adult hepatitis B vaccine segment is further divided into single vaccine and combination vaccine segments. Combination vaccines are expected to experience the fastest growth during the forecast period, offering protection against multiple pathogens and reducing the packaging cost of individual vaccines. For example, the Twinrix combination vaccine provides protection against hepatitis B and hepatitis A.
geographical insights
Geographically, the global hepatitis B vaccine market is segmented into five regions: United States, China, EU, Japan, and Rest of the World (ROW). There is a high demand for hepatitis B vaccine due to the ongoing threat of hepatitis B virus infection, with the United States leading the global market. Factors such as rising hepatitis B virus infection rates, government initiatives to promote vaccination, technological advancements in vaccine production, and rising healthcare expenditure are expected to sustain market growth. The European Union and the United Kingdom are poised for significant expansion, driven by improved health infrastructure, aggressive government efforts to combat hepatitis B, and the establishment of hospital reimbursement systems. Continued technological advancements, improved accessibility and rising disposable income will further boost hepatitis B vaccination in the European region.
Driver: Hepatitis B cases in infants rising
Rising rates of hepatitis B virus infection among infants are driving demand for hepatitis B vaccine. Perinatal transmission of hepatitis B virus poses a major public health challenge, leading to chronic hepatitis B virus infection in infants. Chronic hepatitis B virus infection can lead to serious health complications, including cirrhosis and liver cancer. To prevent perinatal transmission, the World Health Organization recommends that all pregnant women be tested for HBV infection and that babies of HBV-positive mothers be vaccinated immediately after birth. The rising prevalence of hepatitis B virus in infants is driving greater demand for hepatitis B vaccine as parents seek to protect their children from the virus.
Challenge: Unequal access to vaccines
Inequitable access to vaccines remains a key issue, particularly in poorer areas where awareness and initiatives face barriers. Limited access to vaccines may be due to challenges such as inadequate storage facilities, lack of government support in remote areas, low literacy rates, limited health knowledge and financial constraints. Furthermore, unequal development and distribution of hepatitis B vaccines and antibodies in underserved areas hinders market growth.
Trending: Artificial intelligence revolutionizes vaccine and drug design
Recent advances in biochemistry, structural biology, immunology, microbiology, genomics and data science have opened the door to innovation. Bioinformatics, which uses computer technology for biological sciences, has given rise to immunoinformatics, which uses artificial intelligence and machine learning to predict complex immune system activities, such as B-cell and T-cell epitope prediction. The integration of artificial intelligence in vaccine and drug design is expected to accelerate vaccine development, improve efficacy, and drive the growth of the hepatitis B vaccine market.
COVID-19 Impact
The COVID-19 pandemic has disrupted vaccine production and supply chains, having a significant impact on the hepatitis B vaccine market. Shortages of raw materials and transportation disruptions have led to vaccine shortages in some areas. Additionally, pandemic-related funding shifts have impacted vaccination programs, including the hepatitis B vaccine program. However, the hepatitis B vaccine market has broad prospects in the post-epidemic era. The WHO-led COVAX Facility has been working to ensure access to essential vaccines, including hepatitis B vaccine. Through this initiative, more than 2 billion doses of hepatitis B vaccine have been obtained and delivered globally, supporting hepatitis B vaccine production in the post-COVID-19 era.
Analysis of major players
The global hepatitis B vaccine market shows moderate concentration, with acquisitions, collaborations and product launches increasing. Major market players include Merck & Co., GlaxoSmithKline, Sanofi, VBI Vaccines Inc., Shenzhen Kangtai Biological Products Co., Ltd., Dynavax Technologies Corporation, Meiji Group (KM Biologics), LG Chem Ltd., Cyrus Poonawalla Group (Serum Institute of India) and Immunology of India Ltd.
the main factor of influence
growth drivers
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Increase in elderly population
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Increase medical spending
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Hepatitis B virus infection cases increasing in infants
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Deaths from liver cancer and cirrhosis rising due to hepatitis B
challenge
trend
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Artificial Intelligence in Vaccine and Drug Design
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Technological Advances in Vaccine Administration
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Favorable government initiatives and policies
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