Hepatitis B Vaccine Market size was valued at USD 7.9 billion in 2022 and is estimated to reach at USD 11.32 billion in 2030 and grow at a compound annual growth rate approx. CAGR of 4.6% predicted for the forecast period of 2023-2030.
The Hepatitis B vaccine market has witnessed significant growth in recent years, driven by the increasing prevalence of Hepatitis B infections worldwide. Hepatitis B is a viral infection that affects the liver and can lead to chronic liver diseases such as cirrhosis and liver cancer. The vaccine provides effective protection against the virus and is considered a crucial preventive measure.
One of the key factors contributing to the growth of the Hepatitis B vaccine market is the rising awareness about the importance of immunization programs. Governments and healthcare organizations across various countries have been actively promoting vaccination campaigns to control the spread of Hepatitis B. This has resulted in increased demand for vaccines, leading to market expansion.
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Furthermore, advancements in vaccine technology have played a vital role in shaping the market landscape. The development of improved formulations, such as combination vaccines that offer protection against multiple diseases, has simplified vaccination schedules and increased patient compliance. Additionally, ongoing research and development efforts are focused on developing more efficient vaccines with enhanced efficacy and longer-lasting immunity.
KEY MARKET SEGMENTS
By Product End-User
- Single Antigen Vaccine
- Combination Vaccine
By End users
Major Players Listed in the Report are as Follows:
GlaxoSmithKline, Gilead Science Inc., Merck & Co., Inc., Shenzhen Kangtai Biological Products Co., Ltd., Cyrus Poonawalla Group (Serum Institute of India Pvt.), Dynavax, Technologies Corporation, Sanofi, VBI Vaccines Inc., Meiji Group (KM Biologics), LG Chem Ltd., Indian Immunologicals Limited and others
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