The Hepatitis A vaccine is a hepatitis A prevention vaccine. The disease is a virus-induced liver condition that results from moderate to serious disease. The growing prevalence of hepatitis A around the globe is a significant factor behind the rising demand for hepatitis A vaccinations, contributing to increasing vaccination drives. As per the Center for Disease Control, a total of 12,474 cases of hepatitis A were identified in the US in 2018 and the organization projected the real number of reprocessed cases in the year at 24,900 due to the undiagnosed cases. In addition, the rise in the number of cases of Hepatitis A prompts national governments and health agencies to take action to raise awareness of the disease and manage vaccine campaigns in risk-prone areas. This has encouraged policymakers to increase their awareness, identification, support, and vaccine campaigns. As per the World Health Organization, as of May 2019, a total of 34 countries worldwide have used or intended the use of the Hepatitis A vaccine in regular immunization of children in particular risk categories. However, a lack of awareness among the population impedes the growth of the market over the forecast period of 2020-2027.
Global Hepatitis A Vaccine Market is valued approximately at USD 672.21 million in 2019 and is anticipated to grow with a growth rate of more than 2.1% over the forecast period 2020-2027 and is estimated to reach USD 793.80 million by 2027.
The regional analysis of the global market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. The Asia Pacific is the leading/significant region across the world in terms of market share as in China, the live attenuated Hepatitis A Vaccine is becoming a favorable element to tackle the disease. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as a rise in pediatric population and increase in awareness about vaccination results in increasing demand for Hepatitis A Vaccine in emerging economies, such as India and China would create lucrative growth prospects for the Hepatitis A Vaccine market across the Asia-Pacific region.
Major market players included in this report are GlaxoSmithKline, Merck & Co. Inc., Sanofi SA, Sinovac Biotech, Zhejiang Pukang Biotechnology Co., Ltd., Changchun Institute of Biological Products Co., Ltd., KM Biologics, IMBCA, ChangSheng Bio-Technology Co., Ltd, and Convac Ltd.
The detailed segments and sub-segment of the market are explained below:
By Product Type: Inactivated vaccine, Live attenuated vaccine
By Application: Government Institution, Private Sector, Other
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