Market Research Future (MRFR) has published a Premium Research Report that Forespeaks about the evolution for The Global Tuberculosis Vaccine Treatment Market with 8.7% CAGR (Compound Annual Growth Rate) between 2017 and 2023. Analyzing the market structure, this report evaluates the future growth potential and observes the strategies of the key players in this market.
The factors that drive this market include an emphasis on prevention of diseases, growing government funding for vaccination programs, increasing awareness about vaccination, improving healthcare infrastructure and increasing prevalence of infectious diseases. Tuberculosis (TB) is an infectious disease that not only lungs but various parts of the body. Therefore, the vaccination to prevent TB is as crucial as its treatment. The vaccines can trigger a potent immune response against TB. Currently, the only effective tuberculosis vaccine is Bacilli Calmette-Guerin (BCG).
The Global Tuberculosis Vaccine Treatment Industry has been segmented on the basis of end-users, type of TB test, type of TB vaccine and lastly, region. Highlighting the end-users, the market has been segmented into hospitals, private clinics, research institutions and others. By the type of TB tests, the market has been segmented into Interferon-Gamma Release Assays (IGRAs), TB blood tests, tuberculin skin test (TST) and others. Based on the type of Tb vaccines, it is segmented into booster vaccines, immunotherapeutic vaccines and others.
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The regional segmentation of the global tuberculosis vaccine treatment market has been segmented on the basis of The Americas (North America & South America), Europe, Asia Pacific and the Middle East & Africa (MEA). The Americas hold the highest share of the global market. Due to the availability of most advanced medical facilities and highest technological development, North America is a greater market than South America. Major market players are also based in North America. In the North America market, a major chunk of revenue comes from the United States of America (USA) and Canada.
Europe is the second biggest market for the TB vaccines not only due to government funds for research but also because of the increase in research and development activities by research institutions & pharmaceutical companies. Due to reasons same as the Americas, Western Europe market is bigger than the Eastern Europe market. In this region, the most important country based markets include France, Germany, Italy, Spain and the United Kingdom (UK), followed by the rest of Western Europe.
The Asia Pacific is expected to emerge as the fastest growing market during the forecast period with China and India taking the lead in this region due to medical facilities improving in this region with growing urbanization and steady technological advancement that is giving rise to medical tourism in the Asia Pacific region. The other important markets in this region are Australia, Japan and South Korea, followed by the rest of the Asia Pacific region.
The MEA region holds least market share due to ignorance of diseases, lack of education, less infrastructure development, limited growth in the healthcare sector, limited screening, political instability and poor access to treatment. The most important country based markets in this region are Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates (UAE), followed by the rest of the MEA region.
Key Players
The key players in the global tuberculosis vaccine treatment market include Bavarian Nordic(USA), GlaxoSmithKline plc (UK), GreenSignal BioPharma Limited (India), IDT Biologics GmbH (Germany), Informa plc.(USA), Merck & Co., Inc.(the USA), Sanofi Pasteur SA (France), Serum Institute of India Pvt. Ltd. (India), Solvay(USA) and Taj Pharmaceuticals Limited (India).
Latest Industry News
- The Indian Council of Medical Research (ICMR), India’s apex body for biomedical research has sent proposals for clinical trials of two new TB vaccines namely VPM1002 and M Indicus Pranii (MIP), to various civic health officials. VPM1002 is the joint effort between the Germany’s Max Planck Institute and Serum Institute of India. MIP is a collaboration between the Indian department of biotechnology and Cadilla Pharmaceuticals. 25 MAR 2018
- The World Health Organization (WHO), has invited pharmaceutical companies around the world to submit proposals to manufacture affordable versions of newer medicines for the treatment of drug-resistant tuberculosis. 9 MAR 2018
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