✷ Report Code: A04070 | Pages: 165 | Feb 2022 | 12397 Views | ||
Author(s) : Sushant T , Onkar S | Tables: 74 | Charts: 48 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Bcg Vaccine Market
Request Now !The global BCG vaccine market was valued at $46,637.5 thousands in 2020, and is projected to reach $74,269.55 thousands by 2030, registering a CAGR of 4.8% from 2021 to 2030.
Bacillus Calmette-Gurin (BCG) vaccine is the only vaccine currently available for prevention of tuberculosis (TB). In countries with high prevalence of tuberculosis, one dose is recommended for healthy babies. However, in areas where tuberculosis is uncommon, only children at high risk are typically immunized, while suspected cases of tuberculosis are individually tested and treated. Adults not infected with tuberculosis and who have not been previously immunized but are frequently exposed to drug-resistant tuberculosis may be immunized as well. However, side effects associated with the BCG vaccine such as headache, head glands swollen, high temperature, and soreness at the site of injection is predicted to limit the use of BCG vaccines among certain individuals.
The factors that drive the global BCG vaccine market include increase in prevalence of tuberculosis, especially in developing and underdeveloped countries, and technological advancement in the field of vaccine research. Moreover, rise in demand for BCG vaccines due to surge in number of newborn babies across the globe, increase in government initiatives, and rise in focus on immunization programs globally further boost the market growth. However, side effects of the BCG vaccine and a global shortage of this vaccine restrict the market growth. Untapped market opportunities in developing regions are expected to provide numerous prospects for market development.
Coronavirus (COVID-19) was discovered in late December, 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. The outbreak of COVID-19 pandemic has not affected the BCG vaccine market as BCG vaccination among pediatric population has not decreased. Moreover, BCG vaccination decreases susceptibility to respiratory tract infections and improves immunity in pediatrics. Moreover, few countries did some clinical trials on humans to see the effectiveness of BCG vaccine towards COVID-19, which boosts the market growth. Thus, the COVID-19 pandemic has a positive impact on the BCG vaccine market.
The BCG vaccine market is segmented on the basis of demographics, and region. On the basis of demographics, it is bifurcated into pediatrics (0-18 Years) and adults (19-35 years). Region wise, the market is analyzed across Asia-Pacific, LAMEA, and Rest of the World.
The pediatrics (0-18 Years) segment held a major share of the BCG vaccine market in 2020, and is expected to maintain its dominance during the forecast period. BCG is generally administered to all 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 rarely administered above the age of 35 as vaccinations are effective only when administered in early stages of life. Thus, aforementioned factor drives the growth of pediatrics (0-18 Years) segment during the forecast period.
Rest of the World accounted for major share of the global BCG vaccine market in 2020, and is expected to remain dominant during the forecast period. This was attributed to increase in prevalence of tuberculosis, rise in number of immunization programs, availability of advanced healthcare facilities with trained medical professionals, presence of most of the key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare.
Moreover, BCG vaccination is part of the immunization schedule of the Kenya Expanded Program on Immunization (KEPI). Therefore, the vaccine is administered to all children born in Kenyan hospitals. The vaccine is administered as an injection (single dose) on the left forearm of infants immediately after birth. Moreover, in this region, BCG vaccine is generally given along with polio and Hepatitis B vaccines to infants after birth.
The list of key players profiled in this report include AJ Biologics, China National Biotec Group (a subsidiary of China National Pharmaceutical Group Corporation), Merck & Co., Inc., Sanofi Pasteur, Japan BCG Laboratory, Serum Institute of India Pvt. Ltd., InterVax Ltd., GreenSignal Bio Pharma Limited (GSBPL), Statens Serum Institut, and Torlak Institute of Virology.
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The high prevalence of tuberculosis, increase in R&D of vaccines, rise in government initiatives, and focus on immunization programs globally. BCG vaccines have gained popularity in developing countries, as it is the only vaccine available for TB, and is on the World Health Organization’s (WHO) list of essential medicines. However, there can be adverse effects of BCG vaccination in few patients, which restrain the market growth. Furthermore, the global shortage of BCG vaccine is also expected to restrict the market growth during the forecast period.
The adoption of BCG vaccine is anticipated to witness significant growth due to increase in cases of tuberculosis in the developing nations with inefficient healthcare support and facilities. Moreover, the BCG vaccine market has gained immense interest of the healthcare industry due to its high importance in eradicating one of the deadliest infectious diseases, i.e., tuberculosis, cause of mortality in majority of the developing countries. Asia-Pacific is projected to register highest growth rate in the global BCG vaccine market due to massively increasing population, high prevalence of diseases, and growth in the healthcare market.
A. The total market value of BCG Vaccine market is $74,269.55 thousand in 2030.
A. Top companies such as Merck & Co., Inc., Sanofi, AJ Biologics, China National group corporation (Sinopharm), Intervax Ltd., Japan BCG Laboratory, Serum Institute of India Pvt. Ltd. held a high market position in 2020. These key players held a high market postion owing to the strong geographical foothold in different regions.
A. Pediatrics (0-18 Years) segment is the most influencing segment owing to rise in demand for BCG vaccines due to surge in number of newborn babies across the globe, increase in government initiatives.
A. The forcast period for BCG Vaccine market is 2020 to 2030
A. The market value of BCG Vaccine market in 2020 is $46,637.50 thousand.
A. The base year is 2020 in BCG Vaccine market
A. Increase in prevalence of tuberculosis, especially in developing and underdeveloped countries, and technological advancement in the field of vaccine research are the key trends in the BCG Vaccine market report.
A. Asia-Pacific has the highest growth rate of 5.3% in the market which is growing due to presence of large patient population, strong presence of key players, ease of vaccine availability, well developed healthcare infrastructure, favorable reimbursement policies in healthcare system, higher number of research and development.
A. Yes, the BCG Vaccine market companies are profiled in the report.
A. Yes, the BCG Vaccine market report provides PORTER Analysis
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