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BCG Vaccine Market Poised to Incur Steadfast Growth During Forecast Period 2023

As there is no current alternative to BCG vaccine, therefore there is an urgent need to improve the methods used for quality control of BCG. This is possible with the help of technological advancements in the field of genomics and proteomics, which can help in the development of new methods for BCG testing. These advanced testing methods can ensure the safety, quality, and efficacy of BCG vaccine preparations.

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BCG Vaccine Market Poised to Incur Steadfast Growth During Forecast Period 2023

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  1. BCG Vaccine Market Segmented Analysis by Demographics and Adults | Industry Statistics 2023 The Bacillus Calmette-Gurin vaccine (BCG) is the only vaccine currently available for the prevention of tuberculosis (TB). A dose of BCG vaccine is recommended for healthy babies at birth in countries where tuberculosis is common. According to Allied Market Research the global BCG vaccine market was valued at from $20,366 thousand in 2016, and is estimated to reach $28,051 thousand by 2023, growing at a CAGR of 4.6% from 2017 to 2023. The Indian BCG vaccines market holds the highest share in the global BCG vaccines market. The main factor contributing to the growth of the market is the increase in the rate of incidence of tuberculosis in developing countries, the increase in R & D activities related to vaccines and the growth of government initiatives and the focus on immunization programs worldwide. However, the side reactions of BCG vaccines in patients and the shortage of vaccine supply hamper market growth. In addition, untapped market opportunities in developing regions are expected to provide numerous opportunities for market growth. The pediatric segment is expected to maintain its dominant position during the period of analysis, since the vaccine is administered to all children at the time of birth. As BCG is recommended for a single dose; therefore, it is rarely used in the case of adults. Major Companies:  Merck & Co. Inc.  Sanofi Pasteur  Japan BCG Laboratory  Serum Institute of India Pvt. Ltd.  InterVax Ltd.  GreenSignal Biopharma Limited Key Findings of the BCG Vaccine Market:  The pediatric segment accounted for more than three quarters of the world market share in 2016.  China is expected to grow at a rapid CAGR of 6.2% from 2017 to 2023.  India accounted for one sixth of the global market in 2016.  The adult segment is expected to grow at a CAGR of 3.6% from 2017 to 2023.

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