BCG Tuberculosis Vaccine Market Size: Lucrative Segments And Their Underlying Factors | China Biotechnology Co., Ltd, Japan BCG Laboratory

The global BCG tuberculosis vaccine market held a market value of USD 61.31 million in 2021 and is likely to reach USD 91.10 million by the year 2030. The market is anticipated to register a CAGR of 4.5% during the forecast period. In addition to that, the market volume is projected to be 535.7 million units in 2021, along with a growth rate of 3.3% over the forecast period.

With the rising incidence and prevalence rates of tuberculosis, the BCG tuberculosis vaccine demand has substantially increased. The high population growth, along with the rising clinical trials is also subject to boost of the market. On the other hand, the rising supply chain logistics, involving the raw material procurement and supply is an element that hinders the growth rate of the BCG tuberculosis vaccine industry to a limited extent.

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There has been a tremendous rise in the number of deaths due to TB in 2020, which is believed to have resulted through the disruptions to treatment and diagnosis caused by the pandemic outbreak. According to TB Facts, TB is the second leading cause of death from a single infectious agent, which ranks second to COVID-19. Moreover, the concern revolving around the side effects of the vaccine is also hampering the preference rate of the market.

Growth Influencers:

High Prevalence and Incidence Rates of Tuberculosis Worldwide
The rising prevalence and incidence rates of tuberculosis over the globe drives the demand for the BCG TB vaccine at a significant level. For instance, according to GHE, a registered charity commission based in the UK, stated that around 30 high burden countries in the world accounted for 86% of all estimated incidence cases on a global level. The incidence rate for India accounted to be 26%, whereas for China, it was 8.5%. such high statistics drive the growth rate of the market.

The surge in population growth across the world

The high population growth contributes directly to the increasing demand for the BCG tuberculosis vaccines. For instance, according to the statistics published by the United Nations, the world?s population is expected to increase by 2 billion persons in the next 30 years, from 7.7 billion currently to 9.7 billion in 2050 and could peak at around 11 billion by 2100. Thus, the high population creates high demand, leading to the market growth for the BCH tuberculosis vaccines market.

Segments Overview:

The global BCG tuberculosis vaccine market is segmented into product type and application.
By Product Type,

? Immune BCG
? Therapy BCG

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The immune BCG product type segment held the largest market share of more than 80% in 2021.

By Application,

? Hospitals
? Clinics

The hospitals segment is likely to hold an opportunity of more than USD 20 million from 2022 to 2030.

Regional Overview

By region, the global BCG tuberculosis vaccine market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific market for BCG tuberculosis vaccine held the largest market share of more than 60% in 2021, accounting for a revenue of USD 38.94 million, owing to the high research-focused countries, such as Japan, Australia, and India. For instance, in March 2022, the Serum Institute of India applied to the Drugs Controller General of India seeking Emergency Use Authorisation (EUA) for its recombinant BCG (rBCG) vaccine for the prevention of tuberculosis. Furthermore, the European region is anticipated to grow at a substantial rate owing to the rising awareness.

Competitive Landscape

Key players operating in the global BCG tuberculosis vaccine market include China Biotechnology Co., Ltd, Japan BCG Laboratory, Serum Institute of India Pvt. Ltd., Merck KGaA, GSBPL, Statens Serum Institute, AJ Vaccines, among others.

The major five players in the market hold approximately 70% of the market share. These market players are investing in collaborations, product launches, mergers, acquisitions, expansions to sustain in the market. For instance, in November 2020, Gulf Health Council (GHC) approved AJ Vaccines? production site-facility in Copenhagen, Denmark. The approval implies the vaccine production is at a high standard which will aid to assure timely patient access to vaccines in the Gulf Cooperation Council (GCC) countries and the other countries in the Middle Eastern region.

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The global BCG tuberculosis vaccine market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global BCG tuberculosis vaccine market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing of BCG tuberculosis vaccines
? Manufacturing Cost Analysis: Cost-share of various components in BCG tuberculosis vaccine, cost analysis of BCG tuberculosis vaccine tools

The global BCG tuberculosis vaccine market report answers questions such as:

? What is the market size and forecast of the global BCG tuberculosis vaccine market?
? What are the inhibiting factors and impact of COVID-19 on the global BCG tuberculosis vaccine market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global BCG tuberculosis vaccine Market?
? What is the competitive strategic window for opportunities in the global BCG tuberculosis vaccine market?
? What are the technology trends and regulatory frameworks in the global BCG tuberculosis vaccine market?
? What is the market share of the leading players in the global BCG tuberculosis vaccine market?
? What modes and strategic moves are considered favorable for entering the global BCG tuberculosis vaccine market?

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