Hepatitis B vaccination is a preventive vaccine that helps prevent acute hepatitis B infection. It is given to people with various types of Hepatitis B infections ranging from uncomplicated forms to complicated forms. The most common types are Hepatitis A, Hepatitis B, and Hepatitis C. Hepatitis B vaccination is very important because the infection is spread through body fluids such as blood, sweat, urine, and mouth. The disease can be prevented if one is regularly vaccinated. Hepatitis B vaccination is usually recommended by health care providers when individuals have been infected with Hepatitis B virus (HBV).
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Major companies contributing to the global hepatitis vaccine market include CSL Behring GmbH, Sanofi Pasture, GlaxoSmithKline, Merck and Company, Shantha Biotech, Sanofi Pasteur, Pfizer Inc., and Novartis AG.
Growing incidences of liver disorders in parallel to the ongoing prevalence of viral hepatitis are expected to augment growth of the hepatitis vaccine market over the forecast period.
In addition to this, improving efficacy and availability of hepatitis A and B infections in the developed countries at the helm of government support is expected to boost growth of the hepatitis vaccine market throughout the forecast period.
Summary of the COVID-19 Debacle
The outbreak of the COVID-19 virus has negatively impacted the global hepatitis vaccine market. There was a major decline in footfalls of patients with chronic hepatitis in the wake of virus transmission. On top of that, experts have prohibited administering non-COVID vaccines in infected patients to avoid complications from vaccine mixing.
- The hepatitis vaccine market is anticipated to grow at a CAGR of XX % during the forecast period owing to the rising cases of hepatitis infections and increasing healthcare spending. For instance, in July 2020, the Centers for Disease Control and Prevention (CDC) reported that there are over 50,300 new cases of hepatitis C infection every year in the U.S.
- Considering the territorial landscape, the North American region is propelling the global hepatitis vaccine market on the heels of a large hepatitis patient pool and increasing occurrences of foodborne outbreaks.
- In the runner-up spot, the Asia Pacific region is showing promising prospects for the global hepatitis vaccine market on account of growing prevalence of hepatitis in rural regions as a result of poor sanitation conditions.
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