BCG Vaccine Market Witnessing Robust Growth and Growing at the CAGR of 4.6% during forecast period 2023

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.

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.

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According to a new report published by Allied Market Research the global 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.

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.

The pediatrics segment held a major share of the BCG vaccine market in 2016, and is expected to maintain its dominance throughout the forecast period. BCG is generally administered to all the infants up to one year of age in countries where BCG vaccination is a part of the national childhood immunization program.

In addition, this vaccine can also be given to older children (more than 1 year of age) who have increased risk of developing tuberculosis. It is rarely given above the age of 16, and never administered above the age of 35 as vaccinations are effective only when administered in early stages of life.

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Major Players:

• 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)
• Statens Serum Institute.

Key Benefits:

• The study provides an in-depth analysis of the market with current trends and future estimations from 2016 to 2023 to elucidate the imminent investment pockets.

• Comprehensive analysis of factors that drive and restrict the market growth is provided.

• Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global and regional scale are provided.

• Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.

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