CHICAGO, UNITED STATES, July 21, 2023/EINPresswire.com/ -- The global BCG tuberculosis vaccine market is witnessing a rise in revenue from US$ 63.58 million in 2022 to US$ 91.10 million by 2031, growing at a CAGR of 4.5% during the forecast period from 2023 to 2031.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/bcg-tuberculosis-vaccine-market

The key elements anticipated to propel market revenue growth during the forecast period include the rapidly increasing prevalence of tuberculosis globally and advances in vaccine and drug research. In addition, a growing focus by governments and health authorities on accelerating immunization and rising demand for the BCG vaccine to prevent childhood tuberculosis meningitis fuel the global market growth.

The demand for the BCG TB vaccination is significantly increased by the rising prevalence and incidence rates of tuberculosis worldwide. For instance, according to GHE, a UK-based registered charity commission, approximately 30 high-burden nations worldwide accounted for 86% of all estimated incidence cases worldwide. In India, the incidence rate was 26%, whereas in China, it was 8.5%. Such impressive numbers fuel the market's expansion rate.

The rapid growth of the population directly impacts the rise in demand for BCG tuberculosis vaccines. For instance, the population of the globe is predicted to rise by 2 billion people in the next 30 years, from 7.7 billion to 9.7 billion by 2050, according to statistics provided by the United Nations. As a result, the market for BCH TB vaccines is expanding due to the strong demand that the rising population generates.

The market has received backing from various governments in different ways. Many governments have taken numerous actions to raise awareness of the value of BCG vaccines and to encourage vaccine accessibility in low- and middle-income countries, particularly where TB is more common. For instance, world leaders set a global goal to discover more TB cases and start treating individuals by 2025 at the United Nations High-Level Meeting (UNHLM) to lessen the scourge of TB. The goal is to create a road map to eradicate tuberculosis by 2030. At this summit, Nigeria also pledged to diagnose and treat more than 1.1 million cases of tuberculosis (TB) and enroll nearly 2.2 million people in TB preventative therapy between 2018 and 2022.

Immune BCG Type Segment to Generate More Than Half of the Revenue Share

In 2022, the immune BCG segment accounted for 82.6% of the global market revenue. There is currently no vaccination that can replace immunological BCG as a preventative measure against TB, which is one of the causes fueling the expansion of this market. Additionally, it is now required in the majority of nations as a part of the national immunization program. According to additional projections, the immunological BCG vaccine market would experience the fastest compound annual growth rate (CAGR) of 4.6% during the forecast period.

Hospitals to Remain the Major End-User of BCG Tuberculosis Vaccines

Hospitals held a significant market share of 79.9% in 2022, and it is anticipated that they will have a CAGR of 4.7% over the course of the projected period. The expansion of this market is due to the rising procurement and accessibility of vaccinations in hospital settings, as well as the rising delivery of the vaccine to newborns in hospitals.

The market is expanding as a result of the increased accessibility of vaccinations in hospital settings for both patients and healthcare professionals. Hospitals are the major players in the healthcare system and are essential to the administration and broad use of the BCG tuberculosis vaccination market on a global scale.

Asia Pacific to Generate Over 63% of the Market Revenue Share

The Asia Pacific region generated worth US$41.02 million in revenue in 2022 and is likely to reach a valuation of US$ 59.94 million in 2031. As a result of the high concentration of research-focused nations like Japan, Australia, and India, this represents the highest predicted compound annual growth rate (CAGR) of 4.9% for the forecast period. For instance, the Serum Institute of India requested Emergency Use Authorization (EUA) for its recombinant BCG (rBCG) vaccine for the prevention of tuberculosis to the Drugs Controller General of India in March 2022.

The key driver of the Asia-Pacific region's expansion is the increased prevalence of tuberculosis in developing nations like China, Indonesia, and India. For instance, according to a report by the United Nations International Children's Emergency Fund (UNICEF) in June 2022 titled "Pediatric Tuberculosis with a Focus on Indonesia," Indonesia has the second highest incidence of TB in the world (312 per 100,000 people) and is responsible for 8.5 percent of all cases worldwide.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/bcg-tuberculosis-vaccine-market

Top 5 Players to Capture 70% of the Revenue Share

The top five players in the market, including AJ Vaccines, GSBPL, Merck KGaA, Serum Institute of India Pvt. Ltd., and Japan BCG Laboratory, hold approximately 70% of the market share. In order to be competitive, these market participants make investments in alliances, product launches, mergers, acquisitions, and expansions.

Prominent Companies

• Japan BCG Laboratory
• China Biotechnology Co., Ltd
• Merck KGaA
• Serum Institute of India Pvt. Ltd.
• GSBPL
• AJ Vaccines
• Statens Serum Institute
• Other Prominent players

Segmentation Outline

The global BCG tuberculosis vaccine market segmentation focuses on Type, Application, and Region.

By Type
• Immune BCG
• Therapy BCG
By Application
• Hospital
• Clinics
By Region
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
 The UK
 Germany
 France
 Italy
 Spain
o Rest of Western Europe
• Eastern Europe
 Poland
 Russia
o Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
• Middle East & Africa
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Argentina
o Brazil
o Rest of South America

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/bcg-tuberculosis-vaccine-market

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