New York, October 05, 2021 –Reports and Data has published its latest report titled “BCG Vaccine Market, By Type (Immune BCG, Therapy BCG), By Disease Type (Tuberculosis, Bladder Cancer), By End-use (Pediatrics, Adults), By Distribution Channel (Hospitals, Clinics, Others), And Region- Global Forecast To 2028”
Increasing cases of tuberculosis worldwide and technological advancements in vaccine development are among the key factors driving market growth
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According to Reports and Data, the global BCG vaccine market size was USD 51.35 million in 2020 and is expected to reach USD 73.02 million in 2028 and register a revenue CAGR of 4.5% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Named after bacteriologists Albert Calmette and Camille Guérin, the Bacillus Calmette-Guérin (BCG) vaccine is primarily administered to protect against tuberculosis (TB). One dose of this vaccine is generally recommended for infants in countries with high prevalence of tuberculosis meningitis, miliary disease, or leprosy. The vaccine is also suitable for adults aged 35 and above, with high risk of contracting drug-resistant TB.
Increasing prevalence of tuberculosis worldwide, rising government towards immunization programs, increasing pharmaceutical research & development activities for TB vaccine, and introduction of technologically advanced BCG vaccines are among the key factors driving revenue growth of the global BCG vaccine market. Rising focus on vaccination of new-born babies for protection against severe or lethal diseases such as tuberculosis and increasing incidences of drug-resistant tuberculosis among children and adults are other major factors bolstering market growth. However, factors such as certain side-effects associated with the BCG vaccine, including swollen glands and headache are expected to restraint market growth during the forecast period.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Immune BCG Type to Account for Largest Revenue Share:
Based on type, the immune BCG segment is expected to account for the largest revenue share in over the forecast period, mainly owing to factors such as increasing government initiatives and programs to administer the BCG vaccine to prevent children and adults from TB.
Hospitals Segment to Dominate Other Distribution Channel Segments:
Among distribution channels, the hospitals segment is expected to register significantly robust growth in revenue over the forecast period. Growth of this segment is attributed to rising prevalence of tuberculosis, growing focus on administration of vaccine to infants, and increasing availability of BCG vaccines in hospitals.
North America Accounted for a Significantly Large Revenue Share in 2020:
Among regional markets, North America accounted for the largest revenue share in the global BCG vaccine market in 2020. Significant revenue growth of the North America market is attributed to increasing focus on vaccination of children to protect against TB, rising prevalence of drug-resistant tuberculosis in adults, and increasing government initiatives and funding to procure and administer TB vaccine. Presence of advanced healthcare infrastructure in the region and favorable reimbursement policies are further expected to bolster the North America market growth.
Asia Pacific to Lead in Terms of Revenue CAGR:
The BCG vaccine market in Asia Pacific is expected to register a robust revenue CAGR over the forecast period. Growing incidence of tuberculosis – mainly in countries with low income levels and poor healthcare infrastructure – significantly growing demand for both immune and therapy BCG vaccines, and increasing vaccination drives for TB prevention, especially in countries such as India and China, drive the Asia Pacific market revenue growth.
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Major Companies in the Market Include:
- Merck & Co., Inc.
- Sanofi Pasteur
- Japan BCG Laboratory
- China National Biotec Group
- Serum Institute of India Pvt. Ltd.
- InterVax Ltd.
- GreenSignal Bio Pharma Limited (GSBPL)
- Statens Serum Institute
For the purpose of this report, Reports and Data has segmented the global BCG vaccine market based on the type, disease type, end-use, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Immune BCG
- Therapy BCG
Disease Type Outlook (Revenue, USD Billion; 2018-2028)
- Bladder Cancer
End-use Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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