BCG Vaccines Market to Grow with a CAGR of 5.90% through 2028
Government immunization programs and Drug-resistant TB are
factors driving the global BCG Vaccines market
in the forecast period 2024-2028.
According to
TechSci Research report, “BCG Vaccines Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global BCG
Vaccines Market stood at USD 145.56 million in 2022 and is anticipated to grow
with a CAGR of 5.90% in the forecast period, 2024-2028. 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. It also
found that there was a 50 percent decline in BCG coverage in India during the
pandemic period. Furthermore, as per an article titled "Impact of COVID-19
on routine immunization in South-East Asia and Western Pacific: Disruptions and
Solutions," published in the journal The Lancet in April 2021, fear of
infection, restriction of movement, and limited access to healthcare were the
main reasons for COVID-related disruption to immunization services which
includes BCG vaccination as well. Thus, the COVID-19 outbreak affected the
market's growth adversely in its preliminary phase; however, the market is
expected to gain traction due to the significant increase in the use of BCG
vaccines globally.
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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.
The Global BCG
Vaccines Market is segmented into product, application, distribution channel and
company.
Based on product,
the global BCG vaccine market witnessed the dominance of Immune BCG, and this
trend is poised to continue with considerable growth anticipated in the near
future. Immune BCG is the primary choice for TB prevention, especially in
regions with a high risk of tuberculosis development. Newborns in these
high-risk areas receive a single dose of Immune BCG, a crucial measure in
preventing the onset of TB. The increasing adoption of Immune BCG in these
regions plays a pivotal role in curbing the development of TB. Its proven
efficacy, long-standing reputation, and recommendations by international health
organizations contribute to its widespread use.
As healthcare
systems worldwide continue to prioritize TB prevention, particularly in
high-risk populations, Immune BCG's dominance in the BCG vaccine market remains
steadfast. Its role in reducing the global burden of tuberculosis, especially
in vulnerable infants, underscores its significance and the anticipation of
continued growth in this segment.
Based on region,
Asia Pacific is the fastest-growing region for BCG (Bacillus Calmette-Guérin)
vaccines due to several key factors. First, this region hosts a substantial
portion of the world's population, with several countries experiencing high
tuberculosis (TB) burden. The need for TB prevention is paramount, driving
increased demand for BCG vaccines. Second, rapid urbanization and population
density in many Asian countries create environments conducive to TB
transmission, heightening the urgency for vaccination. Third, robust government
immunization programs, expanding healthcare infrastructure, and rising
awareness of TB's impact contribute to the market's growth. Additionally, the
emergence of drug-resistant TB strains in some Asian nations underscores the
importance of vaccination as a preventive measure. Altogether, these factors
position Asia Pacific as the fastest-growing market for BCG vaccines,
addressing TB's significant public health challenge in the region.
Major companies
operating in Global BCG Vaccines Market are:
- Serum Institute of India Pvt. Ltd.
- GreenSignal Bio Pharma Ltd
- Taj Pharmaceuticals Limited
- Japan BCG Laboratory
- Merck & Co., Inc.
- Microgen LLC
- Biomed Lublin S.A.
- BCG Vaccine Laboratory
- China Biotechnology Co., Ltd.
- AJ Biologics Sdn Bhd
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“The future of
BCG (Bacillus Calmette-Guérin) vaccines is promising and multifaceted. Ongoing
research aims to enhance BCG vaccine formulations, making them more effective
against emerging strains of tuberculosis (TB) and exploring their potential
applications in broader immunology. With the threat of drug-resistant TB on the
rise, BCG vaccines will continue to play a critical role in TB prevention.
Additionally, their potential role in bolstering overall immunity, as seen
during the COVID-19 pandemic, may lead to expanded applications. As global
health security concerns persist, BCG vaccines will remain pivotal in pandemic
preparedness. Ensuring equitable access to vaccines will be essential to reduce
TB incidence and improve public health worldwide.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“BCG Vaccines Market By Product (Immune BCG,
Therapy BCG), By Application (Tuberculosis, Bladder Cancer), By Distribution
Channel (Hospitals, Clinics, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global BCG Vaccines Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global BCG Vaccines Market.
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