According to a new report published by Allied Market Research, titled,"Global BCG Vaccines Sales Market by Drug Type, Usage, End User, Region: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the Global BCG vaccines sales market size is expected to increase and is anticipated to reach $65 million by 2025, registering a CAGR of 4.2% from 2019 to 2025.
BCG vaccine is a live attenuated vaccine used for the prevention of tuberculosis. The types of BCG drugs include immune BCG and therapy BCG. The BCG vaccines sales market growth has increased owing to gained prominence in the recent years due to high prevalence of tuberculosis worldwide and rise in number of drug-resistant tuberculosis cases. However, replacement for BCG vaccine is expected to restrain the market growth.
Depending on drug type, the immune BCG segment is the highest revenue contributor and is also expected to exhibit the fastest growth rate of 4.9%. This is attributed to the wider use of BCG vaccine to acquire immunity against tuberculosis and absence of substitute to BCG vaccines currently.
Asia-Pacific was the highest revenue contributor in the global BCG vaccines sales market share, accounting for 70% of the total market in 2017. However, LAMEA is expected to grow at the highest rate, owing to the number of developing nations present in this region, rise in technological advancements in the vaccines procured, increased awareness, and higher disposable income.
Based on usage, the tuberculosis segment occupied the largest share of the market in 2017 and is expected to grow at the highest rate during the forecast period. Factors such as high prevalence of tuberculosis and large number of deaths due to tuberculosis globally significantly contribute toward the growth of this segment.
By end user, the pediatrics occupied the largest share in 2017, owing to increase in adoption of BCG vaccines due to its efficacy to prevent tuberculosis in pediatrics.
Key Findings of the BCG Vaccines Sales Market:
- Europe occupied one-third share of the global BCG vaccines sales market in 2017.
- The tuberculosis segment is anticipated to grow with the highest CAGR throughout the forecast period.
- The pediatrics segment accounted for three-fourth share of the market in 2017.
- Immune BCG is anticipated to grow at the highest rate during the analysis period.
The major companies profiled in this report include AJ Vaccines, China National Pharmaceutical Group Corporation (Sinopharm), Greensignal Bio Pharma Limited, Intervax Ltd, Japan BCG Laboratory, Merck & Company Inc, Sanofi S.A., Serum Institute of India Pvt. Ltd., and Statens Serum Institute.