Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "BCG Vaccine Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The Global BCG Vaccine Market size is expected to grow from USD 149.67 million in 2023 to USD 202.86 million by 2028, at a CAGR of 6.27% during the forecast period (2023-2028).
The COVID-19 pandemic had a substantial impact on the BCG vaccine market initially. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in demand for the BCG vaccine due to the lack of visits to healthcare facilities such as hospitals and clinics.
The outbreak of the pandemic also resulted in a shortage of support staff for pediatric vaccination, which includes BCG vaccination as well. Moreover, the vaccine manufacturing companies prioritized manufacturing COVID-19 vaccines instead of other vaccines, which in turn created a shortage of BCG vaccines as well.
For instance, a modeling study was conducted to evaluate the impact of COVID-19 on global BCG vaccine coverage and was published in October 2021 in the journal of the National Center for Biotechnology Information (NCBI). The results of the study showed that there was substantial variation in the impact of COVID-19 on routine BCG vaccination programs; some African countries showed average BCG coverage, while others showed lower rates from January to June 2020.
Further, the rising prevalence of tuberculosis, technological advancement in vaccine research and development, and rise in government initiatives for vaccination programs are among the significant factors driving the studied market growth. Poverty, homelessness, and HIV infections are the main causes of tuberculosis and the BCG vaccine is the only vaccine that prevents infection by the mycobacterium tuberculosis bacteria.
Moreover, according to World Health Organization (WHO), 1.5 million died from tuberculosis in 2020. Tuberculosis is the 13th leading cause of death worldwide, and its also the second leading infectious disease after COVID-19. Additionally, in 2020 an estimated 10 million people fell ill due to tuberculosis worldwide its also stated that tuberculosis is present in all countries and can infect all age groups. Therefore, the rising prevalence of tuberculosis and increasing death due to it is expected to boost the BCG vaccine market globally, driving the need for BCG vaccine and thereby fueling the growth of the studied market over the forecast period.
In addition, the BCG vaccine is also used to treat patients who have bladder cancer. According to the American Cancer Society, it is the most common intravesical immunotherapy for treating early-stage bladder cancer. It is used to help keep cancer from growing and to help keep it from coming back. BCG is an inactivated germ that is used as a vaccine to prevent tuberculosis, but in the case of bladder cancer, this germ is put directly in the bladder through a catheter so that it can turn on the immune system of the patient.
BCG Vaccine Market Trends
The Pediatrics Segment Dominates the BCG Vaccine Market
BCG vaccination is given mostly to babies and young children as it provides consistent protection of up to 80 percent against the most severe forms of childhood tuberculosis, such as TB meningitis. Children have more risk of developing tuberculosis than adults. For instance, according to a report titled "India TB Report 2022," published by the Ministry of Health and Family Welfare Government of India in February 2022 in India, childhood tuberculosis was a staggering problem, contributing to approximately 31 percent of the global burden.
Moreover, according to an article published in August 2022 titled "BCG vaccine prevents tuberculosis in young children, but not adults," the Boston University School of Public Health said a new study suggested that the BCG vaccine was very effective against tuberculosis in children under five. Still, adults in high-burden countries may need additional protection to maintain immunity beyond childhood. Hence, owing to the increasing BCG vaccination of pediatrics, adopting these vaccines is likely to increase among the target population, ultimately driving market growth.
The Asia-Pacific is Expected to Witness Growth Over the Forecast Period
The Asia-Pacific is expected to witness the highest growth in the market owing to factors such as the high prevalence of tuberculosis, increasing susceptibility to tuberculosis due to poverty and homelessness, and the presence of a large number of BCG vaccine manufacturers in the region. An increase in the BCG vaccination of children in countries like India and China is among the key factors contributing to the growth of the studied market in Asia-Pacific.
The rising prevalence of tuberculosis in developing countries like India, Indonesia, and China is the main reason for the growth of the Asia-Pacific region. For instance, according to an article titled "Pediatric Tuberculosis with a Focus on Indonesia, "published by United Nations International Children's Emergency Fund (UNICEF) in June 2022, Indonesia has the second highest incidence of TB in the world (rate of 312 per 100,000 population) and accounts for 8.5 percent of global cases.
A selection of companies mentioned in this report includes
- AJ Biologics Sdn Bhd
- Serum Institute of India Pvt. Ltd.
- GSBPL
- Taj Pharmaceuticals Limited
- Japan BCG Laboratory
- Merck & Co., Inc.
- Microgen
- Biomed Lublin S.A.
- BCG Vaccine Laboratory
- China Biotechnology Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/90yqgy
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
