Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Therapeutic BCG Vaccine Market - Global Industry Size, Share, Trends Opportunity, and Forecast, 2028F" report has been added to ResearchAndMarkets.com's offering.
The global landscape of the Therapeutic BCG Vaccine Market is undergoing a paradigm shift with the market size reaching a valuation of USD 128.54 million in 2022. Forecasted to expand at a CAGR of 6.37% until 2028, this surge signals a wave of progress over the next few years. Advances in biotechnology, heightened TB control efforts, and burgeoning research into new indications are earmarked as the key drivers propelling the market forward.
Biotechnology Advancements Spearheading Market Growth
The crux of the market growth can be attributed to remarkable biotechnological progress. Innovations such as CRISPR-Cas9 gene editing and advancements in genetic engineering are at the forefront, enhancing vaccine development and manufacturing, thereby cementing the BCG vaccine's role in contemporary medicine. These technological leaps are expected to play a pivotal role in expanding the therapeutic application and reliability of BCG vaccines.
Rising Tuberculosis Control Efforts Boost BCG Vaccine Demand
As efforts to eradicate tuberculosis pick up pace globally, BCG vaccines, integral to TB prevention strategies, witness increasing demand. TB control initiatives fueled by organizations like the WHO, alongside the vaccine's immunomodulatory actions, continue to invigorate the market. Moreover, with the pressing concern of drug-resistant TB strains, BCG vaccines emerge as a potentially effective adjunct therapy, adding to the overall demand.
Expanding Research into New Indications Stimulates Market Dynamics
Exploratory research into novel therapeutic indications beyond bladder cancer and TB prevention such as autoimmune diseases, is diversifying potential applications for BCG vaccines. This expansion, accompanied by strong clinical outcomes, fortifies the market by fostering an upsurge in healthcare provider interest and patient education, contributing to a wider acceptance of BCG immunotherapy.
Potential Market Challenges and Competitive Landscape
Despite a flourishing trajectory, challenges such as vaccine shortages due to production complexities and growing competition amongst a limited number of manufacturers pose as significant hurdles. Manufacturers are locked in a struggle to navigate these adversities while striving to uphold quality, meet regulatory standards, and jockey for a competitive position in the market.
Segmental Insights and Regional Dominance
- Immune BCG Segment - The segment currently leads the market, with its established reputation in bladder cancer treatment boosting its prominence.
- Hospitals as Primary End Users - Hospitals are expected to maintain their position as the major end-user category due to their specialized infrastructure for administering BCG vaccines.
- North America's Market Preeminence - Enhanced healthcare infrastructure, robust research activities, and the presence of key players have allowed North America to dominate the market in 2022.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 188 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $128.54 Million |
| Forecasted Market Value (USD) by 2028 | $185.03 Million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Merck & Co.
- Sanofi Pasteur Inc.
- Japan BCG Laboratory
- China National Biotec Group
- Serum Institute of India Pvt. Ltd.
- InterVax Ltd.
- GreenSignal Bio Pharma Limited
- Statens Serum Institute
- PowderJect Pharmaceuticals
- Biomed Lublin
For more information about this report visit https://www.researchandmarkets.com/r/bkivmw
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