| Report Code: A02272 | Pages: 119 | Apr 2019 | 13829 Views | ||
| Author(s) : Ravi T | Tables: 89 | Charts: 09 |
| |
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Request Now !The global BCG vaccines sales market was valued at $45 million in 2017, and is estimated to reach $65 million by 2025, growing at a CAGR of 4.2% from 2018 to 2025.Bacillus Calmette‐Guérin (BCG) vaccine is the only vaccine available for the prevention of tuberculosis (TB). This vaccine is generally administered to children at birth in countries with high incidence of TB. However, in low incidence regions, only children at high risk are typically immunized, whereas adults are generally not immunized. However, adults (up to the age of 35) who are frequently exposed to drug-resistant TB may also be given BCG vaccine.
The global BCG vaccines sales market is driven by increase in the prevalence of tuberculosis and rise in technological advancements in vaccine research. Moreover, increase in government initiatives and focus on immunization programs globally boost the market growth. However, side-effects and a global shortage of BCG vaccine restrain the BCG vaccines sales market growth. Furthermore, untapped market potential in developing regions is expected to provide lucrative opportunities for BCG vaccines sales market size.
Global Bcg Vaccines Sales Market Segmentation
The global BCG vaccines sales market is based on the segments such as drug type, usage, end user, and region. Based on drug type, it is bifurcated into immune BCG and therapy BCG. Based on usage, the market is categorized into tuberculosis and bladder cancer. Based on end user, it is segmented into adults and pediatrics. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Segment review
According to drug type, the immune BCG segment accounted for the highest share in 2017 and is also the fastest growing segment growing at a CAGR of 4.9% during the BCG vaccines sales market forecast period. The factors contributing toward the growth of this segment include the role of BCG in effectively helping TB prevention and as of now there is no substitute vaccine for immune BCG.
By usage, the tuberculosis segment accounted for the highest share in 2017 and is also the fastest growing segment growing at a CAGR of 5.0% during the forecast period. The growth was attributed to high prevalence of tuberculosis and increase in number of drug resistant infections. Moreover, BCG vaccine is most commonly administered to the newborn and young children to prevent them from tuberculosis.
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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 vaccines sales 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 is projected to register highest growth rate in the global BCG vaccines sales market due to massively increasing population, high prevalence of diseases, and growth in the healthcare market.
High prevalence of chronic diseases and increase in awareness for early disease diagnosis are the major factors that drive the market growth. 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, adverse effects of BCG vaccination in few patients are expected to restrain the market growth. Furthermore, global shortage of BCG vaccine is also expected to restrict the market growth. Currently, immune BCG is the largest segment of the global BCG vaccines sales market, in terms of revenue.
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