BCG Vaccine Market size in 2020 was estimated at $3.1 million, growing at a CAGR of 4.3% during the forecast period 2021-2026. BCG Vaccine is only vaccine that is majorly used for tuberculosis (TB). BCG vaccine help to prevent tuberculosis (TB) in adults and children that tested negative for tuberculosis (TB). Tuberculosis (TB) is infectious disease caused by Nontuberculous mycobacteria bacteria. Interferon-Gamma Release Assays (IGRAs) is blood test is performed to detect Mycobacterium tuberculosis (MTB) bacteria.
BCG vaccine is commonly used for treatment of early-stage bladder. Increasing prevalence of tuberculosis (TB), and bladder Malignancy is major factor driving the growth of the market. Moreover, growing government focus on immunization programs further enhance the overall market demand for BCG Vaccine during the aforesaid period.
BCG Vaccine Market Segment Analysis- By Type
Based on the type, BCG Vaccine Market is segmented into Immune BCG, Therapy BCG. The Immune BCG segment is estimated to dominate the market during the period 2021-2026. This is attributed to the vaccine which provides protection against infection with tuberculosis bacterium. Furthermore, it is more effective and safe as well as helps to build strong immunity system in the body. The Therapy BCG, segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 3.6% during the period 2021-2026. This is mainly owing to it plays important role in treatment of bladder Malignancy.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=506958
Report Price: $ 5900 (Single User License)
BCG Vaccine Market Segment Analysis- By Application
Based on the application, BCG Vaccine Market is segmented into Hospital, Clinics, others. In 2020, Hospital is estimated to hold major share in the market. This is mainly rising number of hospitals and the vaccine that is offered soon after birth. Moreover, increasing government initiatives to provide improved care top the patients in hospitals is also contributing to the dominance of this segment. Also, clinics is projected to grow with a CAGR of 3.0% over the period 2021-2026. This is owing to it is mostly preferred by patients owing to reduction in waiting time.
BCG Vaccine Market Drivers
Increasing Government Focus on Immunization Awareness
Increasing government initiative and focus on immunization awareness through campaign across the globe is driving the growth of BCG Vaccine market. According to, World Health Organization (WHO), government initiative and immunization awareness prevent 3 million of deaths annually across the globe. Moreover, growing government support for development of BCG vaccine is also set to increase the market growth.
Rising Prevalence of Tuberculosis (TB)
Rising prevalence of tuberculosis (TB) which is caused by Nontuberculous mycobacteria and detect by Interferon-? release assays (IGRA) test is also driving the market. According to, World Health Organization (WHO), around 10 million people suffered from tuberculosis (TB) in 2019 across the world.
Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=506958
BCG Vaccine Market Challenges
Side effects of BCG vaccine includes fever, headache, and swollen gland is challenging the market. Along with this high cost of per dose of BCG vaccine are also further challenging the growth of the market.
Covid-19 Impact
Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the BCG Vaccine market including drastic reduction demand owing to lack of visits to healthcare facilities such as hospitals and clinics. Also owing to widespread of coronavirus it affects workforce and staffing issues, procedural prioritization. This affects BCG Vaccine market by cancellation of scheduled visit for primary care at hospitals and reflecting patients concern about infection.
BCG Vaccine Market Landscape
Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the BCG Vaccine Market. BCG Vaccine top 10 companies are Sanofi S.A., Merck Sharp & Dohme Corp., Serum Institute of India Ltd., GreenSignal Bio Pharma Limited (GSBPL), InterVax Ltd., Japan BCG Laboratory, Statens Serum Institute, Shanghai Institute of Biological Products, AJ Vaccine and China National Pharmaceutical Group Corporation
BCG Vaccine Market Development:
In April 2020, Serum Institute of India launched human trails to test new BCG vaccine against corona virus and build immunity again COVID-19.
Key Takeaways
Increasing innovation and development in BCG Vaccine across the globe is driving the market growth of BCG Vaccine.
Detailed analysis of the Strength, Weaknesses, and opportunities of the prominent players operating in the market will be provided in the BCG Vaccine Market report.
Side effects of BCG vaccine includes fever, headache, and swollen gland and high cost of per dose of BCG vaccine are challenging the growth of the market.
Related Reports:
A. Vaccines Market
https://www.industryarc.com/Report/17004/vaccines-market.html
B. Veterinary Vaccines Market
https://www.industryarc.com/Report/9591/veterinary-vaccines-market.html
For more Lifesciences and Healthcare Market reports - Please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
