BCG Vaccine Market - Rise in R&D Activities Related To Vaccines, And Growth in Government Initiatives Boost the Market Growth
The Bacillus Calmette-Gurin (BCG) vaccine is currently the only vaccine available for tuberculosis prevention. 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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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)
• Statens Serum Institut.
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.
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Key Findings of the BCG Vaccine Market:a
• 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.
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