BCG Vaccine Market Size to Reach USD 73.02 Million in 2028, Says Reports and Data
Increasing incidence of TB cases worldwide, technological advancements in vaccine discovery and developments, and implementation of favorable government policies are some key factors driving market growth
Market Size – USD 51.35 Million in 2020, Market Growth – at a CAGR of 4.5%, Market Trends – Increasing innovation in BCG vaccine development
The global BCG vaccine market size is expected to reach USD 73.02 Million in 2028 at a CAGR of 4.5%, according to the latest report by Reports and Data. Rising prevalence of tuberculosis, increasing investment in R&D for tuberculosis vaccine, and growing caseload of drug resistant tuberculosis are some key factors expected to drive market revenue growth over the forecast period. In addition, increasing demand for BCG vaccines due to increasing number of newborn babies across the globe is also a key factor expected to contribute to market growth going ahead.
BCG, or bacilli Calmette-Guerin, is a vaccine for tuberculosis disease and is commonly given to infants and kids in countries where TB is highly prevalent. BCG vaccine is developed from a weakened strain of tuberculosis bacteria which triggers the immune system to protect against the infection. BCG has been extensively used in countries with high incidence of TB to prevent childhood tuberculosis meningitis and miliary disease. BCG vaccine is generally considered for children who have negative TB test or are continually exposed to untreated or ineffectively treated tuberculosis. BCG vaccine is highly effective against severe forms of TB in children and this has been boosting its demand and is expected to drive market growth going ahead.
However, side effects associated with the vaccine such as high temperature, headache, swollen glands, and soreness at the site of injection can limit the usage of BCG vaccines among certain individuals. In addition, shortage of BCG vaccine supply across the globe can restraint market growth to a certain extent over the forecast period.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/30
Some Key Highlights from the Report:
- Immune BCG segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing use of BCG vaccine as a therapeutic approach to treat and prevent TB among children and adults with drug-resistant TB in adults.
- Hospital segment revenue is expected to expand significantly over the forecast period attributable to increasing administration of vaccine to infants in hospitals and rising procurement and availability of vaccines in hospital settings.
- North America is expected to account for a significantly large revenue share in the global market owing to increasing initiatives taken by the government to procure and administer vaccine, favorable reimbursement policies, presence of state-of-the-art healthcare infrastructure, and increasing vaccination in the region.
- Asia Pacific is expected to register robust revenue CAGR over the forecast period owing to rapidly increasing demand for BCG vaccine owing to high incidence of tuberculosis in APAC countries such as India, Japan, and Malaysia.
- Key companies in the market include Merck & Co., Inc., Sanofi Pasteur, Japan BCG Laboratory, China National Biotec Group, Serum Institute of India Pvt. Ltd., InterVax Ltd., GreenSignal Bio Pharma Limited (GSBPL), and Statens Serum Institut.
- In June 2021, An Australian-led study announced it will investigate the susceptibility of patients to COVID-19 variants after having COVID-19 or receiving a vaccine dose. The research has received funding from Bill and Melinda Gates Foundation and is a sub-study of MCRI assessing if BCG vaccine can protect against COVID-19. BRACE trial is the largest randomized controlled clinical trial working to determine if BCG vaccine can reduce incidence of symptomatic and severe COVID-19 in Brazilian healthcare workers.
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/30
For the purpose of this report, Reports and Data has segmented the global BCG vaccine market on the basis of type, application type, and region.
Type Outlook (Revenue, USD Million; Volume, Tons, 2018–2028)
- Immune BCG
- Therapy BCG
Application Type Outlook (Revenue, USD Million; Volume, Tons, 2018–2028)
Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/30
Regional Outlook (Revenue, USD Million; Volume, Tons, 2018–2028)
- North America
- Rest of APAC
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Explore Reports and Data's Prime Analysis of the global Pharmaceutical & Healthcare Industry:
Travelers Vaccines Market By Type (Meningococcal Vaccine, Japanese Encephalitis Vaccine, Yellow Fever Vaccine, Hepatitis Vaccine, Cholera Vaccine, Others), Application Type (Tourists, Students, Workers, Others), And Region- Global Forecast To 2027
DTaP Vaccine Market By Disease Type (Diphtheria, Tetanus, and Pertussis), by Product Type (Daptacel, Infanrix, Kinrix, Pediarix, Pentacel, Quaracel), By End-User (Hospitals, Clinics, Vaccination Centers), And Segment Forecasts To 2027
Anthrax Vaccines Market Share, Demand & Analysis, By Product Type (Cell-Free PA Vaccines and Live Vaccines), By Application (Human Use, Animal Use), By End-User, And Segment Forecasts, 2016-2026
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
Read Full Press Release: https://www.reportsanddata.com/press-release/global-bcg-vaccine-market