The global hepatitis B vaccine market is expected to witness significant growth in the coming years, driven by several key factors. This includes the rising prevalence of hepatitis B infections worldwide and the increasing adoption of combination vaccines that offer broader protection and require fewer doses.
The Hepatitis B Vaccine Market, valued at USD 8.26 billion in 2023, is anticipated to reach USD 11.84 billion by 2031. This translates to a Compound Annual Growth Rate (CAGR) of 4.6% throughout the forecast period.
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The high prevalence of hepatitis B infection is a major concern. The World Health Organization (WHO) estimates that around 296 million people were infected globally in 2019, with 1.5 million new cases observed annually. This has spurred international public health agencies to implement strategies for global elimination of the virus. Examples include the European Centre for Disease Prevention and Control’s regional action plan, which significantly reduced infections in Europe. Consequently, the rising prevalence of the infection and mass immunization initiatives by governments are fueling market growth for hepatitis B vaccines.
Innovation and Collaboration Drive Market Growth
The hepatitis B vaccine market is witnessing a surge in innovative products utilizing recombinant DNA technology. This technology allows for the creation of highly effective vaccines with strong safety profiles and cost-efficiency, especially when employing yeast-based recombinant proteins. A prime example is Dynavax Technologies’ HEPLISAV-B, a recombinant hepatitis B vaccine for adults, which received marketing authorization in the UK during February 2023.
Another key trend gaining traction is the rise of combination vaccines. These vaccines combine multiple antigens targeting various diseases, offering superior efficacy compared to single-antigen options. Additionally, they often require fewer doses, leading to a quicker and more robust immune response. Vir Biotechnology’s ongoing clinical trials for VIR-2218, a combination therapy for hepatitis B, exemplify this trend.
Furthermore, companies are increasingly collaborating to develop and launch high-potential new products. For instance, Gilead Sciences and Vir Biotechnology joined forces in January 2021 to explore novel combination therapies for hepatitis B.
Rising investments in R&D for innovative vaccine candidates and strategic partnerships among market players are expected to further propel market growth. Companies are focusing on developing vaccines with advanced mechanisms of action. Vir Biotechnology’s investment of USD 474.6 million in R&D for their hepatitis B vaccine pipeline candidates in 2022 serves as a prime example. Additionally, collaborations such as the one between Vaxelis (a six-in-one vaccine protecting against diseases including hepatitis B) and Sanofi Pasteur highlight the focus on expanding product portfolios and achieving global reach.
List of Hepatitis B Vaccine Companies Profiled in Report:
- Merck & Co. Inc.
- GlaxoSmithKline
- Gilead Science Inc.
- Cyrus Poonawalla Group (Serum Institute of India Pvt.)
- Shenzhen Kangtai Biological Products Co. Ltd.
- Dynavax
- VBI Vaccines Inc.
- Technologies Corporation
- Sanofi
- Meiji Group (KM Biologics)
- Indian Immunologicals Limited
- LG Chem Ltd.
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Hepatitis B Vaccine Industry Segmentation as Follows:
By Product End-User Â
- Single Antigen Vaccine
- Combination Vaccine
By End users
- Hospital
- Clinics
- Other
Combination Vaccines and Hospital & Retail Pharmacies Lead
The market is segmented by type (single antigen and combination) and distribution channel (hospitals & retail pharmacies, government supplies, and others). The combination segment dominated the market in 2023 due to its advantages like improved cost-effectiveness, stronger immunogenicity, and broader protection against multiple diseases. Additionally, these vaccines often require fewer doses, leading to faster disease protection, making them a popular choice.
The hospitals & retail pharmacies segment held the highest market share in 2023. This dominance can be attributed to the large volume of product sales associated with the first vaccination dose administered to newborns before hospital discharge. Furthermore, the extensive vaccine supply from hospitals is expected to increase vaccination uptake within the population.
The government suppliers segment is anticipated to witness significant growth during the forecast period. Rising strategic initiatives by government bodies, such as the WHO and national health ministries, to eliminate hepatitis B through national and global vaccination programs, are driving this segment’s growth. For instance, the U.S. Department of Health & Human Services launched the Viral Hepatitis National Strategic Plan in January 2021, aiming to eliminate viral hepatitis as a public health threat in the country.
Impact of Global Disruptions
Russia-Ukraine War: The ongoing war in Ukraine is expected to disrupt the supply chain for hepatitis B vaccines in the short term. Manufacturing facilities and distribution channels in the region may be affected, impacting vaccine availability in neighboring countries.
Economic Slowdown: A global economic slowdown could negatively impact the market by reducing aggregate buying power, particularly in emerging economies. Furthermore, rising inflation may put a strain on vaccine affordability, potentially affecting vaccination rates.
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North America Leads The Market With The Highest Market Share And Projected Dominance
This is due to a high disease burden and proactive healthcare initiatives like prevention programs and mortality reduction efforts. Additionally, collaborations among manufacturers and the increasing availability of combination vaccines with broader protection further solidify North America’s top position.
Europe trails closely behind North America. Here, government-driven regional action plans play a pivotal role in propelling market growth. By December 2019, a remarkable 90% of European countries had implemented routine hepatitis B vaccination programs for newborns and young children.
The Asia Pacific region emerges as a promising market with the highest projected CAGR. This growth is fueled by the concerning rise in hepatitis B cases. Recognizing this urgency, vaccine manufacturers are actively seeking funding and forging collaborations to develop novel vaccines, with the potential for a long-awaited cure. An example of such collaboration is the April 2022 partnership between Shionogi & Co., Ltd. and NEC Corporation for research and development of a new vaccine specifically targeted for the region.
Key Takeaways: Why You Should Invest in This Report
- Gain a comprehensive understanding of the hepatitis B vaccine market landscape, including current market size, future growth projections, and key drivers and restraints.
- Explore the evolving market dynamics, with insights into the increasing adoption of combination vaccines, rising R&D investments, and strategic collaborations among market players.
- Analyze the market segmentation by type, distribution channel, and region, identifying the most lucrative segments and potential growth opportunities.
- Assess the impact of global disruptions like the Russia-Ukraine war and economic slowdown on the market’s growth trajectory.
- Stay informed about the latest market developments, including recent product launches and partnerships within the hepatitis B vaccine market.
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