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Emerging Trends in BCG Vaccine Market by 2023

08-16-2018 04:23 PM CET | Health & Medicine

Press release from: Allied Market Research

bcg vaccine market

bcg vaccine market

BCG vaccine market was valued at from $20,366 thousand in 2016, and is estimated to reach $28,051 thousand by 2023, growing at a CAGR of 4.6% from 2017 to 2023. The Indian BCG vaccines market holds the highest share in the global BCG vaccines market.

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As there is no current alternative to BCG vaccine, therefore there is an urgent need to improve the methods used for quality control of BCG. This is possible with the help of technological advancements in the field of genomics and proteomics, which can help in development of new methods for BCG testing. These advanced testing methods can ensure the safety, quality, and efficacy of BCG vaccine preparations.

Bacillus Calmette-Gurin (BCG) vaccine is the only vaccine currently available for prevention of tuberculosis (TB). One dose of BCG vaccine is recommended for healthy babies at birth in countries where tuberculosis is common.

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Top Impacting Factors:

The major factor that contributes to the market growth are increase in incidence rate of tuberculosis in developing nations, rise in R&D activities related to vaccines, and growth in government initiatives and focus on immunization programs globally. However, side reactions of BCG vaccines on patients and shortage of vaccine supply hinder the market growth. Moreover, untapped market opportunities in developing regions are expected to provide numerous opportunities for market growth.

The pediatrics segment is expected to maintain its dominant position during the analysis period, as the vaccine is administered to all the children at the time of birth. As BCG is recommended for only one dose; therefore, it is used rarely in the case of adults.

Prominant Players:

The major companies profiled in the report include Merck & Co., Inc., Sanofi Pasteur, Japan BCG Laboratory, China National Biotec Group (a subsidiary of China National Pharmaceutical Group Corporation), Serum Institute of India Pvt. Ltd., InterVax Ltd., GreenSignal Bio Pharma Limited (GSBPL), and Statens Serum Institut.

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Key Findings of the BCG Vaccine Market:

• The pediatrics segment accounted for more than three-fourths share of the global market in 2016.

• China is expected to grow at a rapid CAGR of 6.2% from 2017 to 2023.

• India accounted for one-sixth of the global market in 2016.

• The adults segment is expected to grow at a CAGR of 3.6% from 2017 to 2023.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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