According to the latest market report published by Credence Research, Inc. “Hepatitis B Vaccines Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global hepatitis B vaccines market was valued at US$ 1.39 Bn in 2016, and is expected to reach US$ 1.89 Bn by 2025, expanding at a CAGR of 3.5% from 2017 to 2025.
Browse the full report Hepatitis B Vaccines Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/hepatitis-b-vaccine-market
Hepatitis B is life threatening liver infection. Hepatitis B vaccines market is rapidly growing as it is effective in prevention of infection than any other treatment options. Some factors such as increased awareness of hepatitis B infection prevention, government initiatives in conduction of routine immunization program are contributing the market growth of hepatitis B vaccines globally. For the purpose of study, global hepatitis B vaccines market is segmented on the basis of type of vaccines composition such as mono and combination vaccines. It is observed that in the base year 2016, combination vaccines held largest market share due to factors such as more patient compliance, better disease control and lower chances of missing immunization are driving the growth of combination vaccines market globally. On the basis of end users age, the hepatitis B vaccines market is categorized into pediatric and adult hepatitis B vaccines. Currently, adult hepatitis B vaccines is the major revenue contributing segment as adults are at a high risk of developing hepatitis B infections due to renal disease and HIV infection which is influencing the market growth of adult hepatitis B vaccines globally. Hepatitis B vaccines market is currently dominated by North America due to factors such as extensive R&D activities, higher cost of vaccines and immunization program that are driving the market growth in North America. Asia Pacific is anticipated to show highest CAGR during forecast period due to increasing healthcare awareness and government initiatives in immunization program.
Market Competition Assessment:
The hepatitis B vaccines market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Beijing Minhai Biotechnology, CSL Ltd, Dynavax Technologies, Emergent Biosolutions, GlaxoSmithKline Biologicals, Merck & Co, Inc, Novartis AG, Pfizer Inc., Sanofi Pasteur, Serum Institute of India, Sinovac Biotech and other.
Key Market Movements:
- Governments across the world have mandated the immunization of hepatitis B for travelers. Hepatitis B vaccine is included in government national immunization schedules in various countries. And increase in awareness of hepatitis B infection prevention is driving the growth of hepatitis B vaccines market worldwide.
- Processes of vaccine development and approval is stringently regulated by the regulatory authorities, which may negatively impact the market growth of hepatitis B vaccines globally.
- Hepatitis B vaccine requires cold storage condition, it increases the market price of vaccines. This would hinder the market growth in some countries.