Global BCG Tuberculosis Vaccine Market Report 2022: High Prevalence and Incidence Rates of Tuberculosis Worldwide Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global BCG Tuberculosis Vaccine Market, by Product Type, by Application, Estimation & Forecast, 2017- 2030" report has been added to ResearchAndMarkets.com's offering.
The global BCG tuberculosis vaccine market held a market value of USD 61.31 million in 2021 and is likely to reach USD 91.10 million by the year 2030. The market is anticipated to register a CAGR of 4.5% during the forecast period. In addition to that, the market volume is projected to be 535.7 million units in 2021, along with a growth rate of 3.3% over the forecast period.
With the rising incidence and prevalence rates of tuberculosis, the BCG tuberculosis vaccine demand has substantially increased. The high population growth, along with the rising clinical trials is also subject to boost of the market. On the other hand, the rising supply chain logistics, involving the raw material procurement and supply is an element that hinders the growth rate of the BCG tuberculosis vaccine industry to a limited extent.
There has been a tremendous rise in the number of deaths due to TB in 2020, which is believed to have resulted through the disruptions to treatment and diagnosis caused by the pandemic outbreak. According to TB Facts, TB is the second leading cause of death from a single infectious agent, which ranks second to COVID-19.
Moreover, the concern revolving around the side effects of the vaccine is also hampering the preference rate of the market.
High Prevalence and Incidence Rates of Tuberculosis Worldwide
The rising prevalence and incidence rates of tuberculosis over the globe drives the demand for the BCG TB vaccine at a significant level. For instance, according to GHE, a registered charity commission based in the UK, stated that around 30 high burden countries in the world accounted for 86% of all estimated incidence cases on a global level. The incidence rate for India accounted to be 26%, whereas for China, it was 8.5%. such high statistics drive the growth rate of the market.
The surge in population growth across the world
The high population growth contributes directly to the increasing demand for the BCG tuberculosis vaccines. For instance, according to the statistics published by the United Nations, the world's population is expected to increase by 2 billion persons in the next 30 years, from 7.7 billion currently to 9.7 billion in 2050 and could peak at around 11 billion by 2100. Thus, the high population creates high demand, leading to the market growth for the BCH tuberculosis vaccines market.
The global BCG tuberculosis vaccine market is segmented into product type and application.
By Product Type
- Immune BCG
- Therapy BCG
The immune BCG product type segment held the largest market share of more than 80% in 2021.
The hospitals segment is likely to hold an opportunity of more than USD 20 million from 2022 to 2030.
The global BCG tuberculosis vaccine market report answers questions such as:
- What is the market size and forecast of the global BCG tuberculosis vaccine market?
- What are the inhibiting factors and impact of COVID-19 on the global BCG tuberculosis vaccine market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global BCG tuberculosis vaccine Market?
- What is the competitive strategic window for opportunities in the global BCG tuberculosis vaccine market?
- What are the technology trends and regulatory frameworks in the global BCG tuberculosis vaccine market?
- What is the market share of the leading players in the global BCG tuberculosis vaccine market?
- What modes and strategic moves are considered favorable for entering the global BCG tuberculosis vaccine market?
Key Topics Covered:
Chapter 1 Study Coverage
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Competition Landscape
Chapter 5 Market Dynamics
Chapter 6 Global BCG Tuberculosis (TB) Vaccine Market, Value Chain and Sales Chain Analysis
Chapter 7 Global BCG Tuberculosis Vaccine Market Analysis, by Region
Chapter 8 Global BCG Tuberculosis Vaccine Market Analysis, by Type
Chapter 9 Global BCG Tuberculosis Vaccine Market Analysis, by Application
Chapter 10 North America BCG Tuberculosis Vaccine Market Analysis
Chapter 11 Europe BCG Tuberculosis Vaccine Market Analysis
Chapter 12 Asia Pacific BCG Tuberculosis Vaccine Market Analysis
Chapter 13 South America BCG Tuberculosis Vaccine Market Analysis
Chapter 14 MEA BCG Tuberculosis Vaccine Market Analysis
Chapter 15 Company Profiles
- Japan BCG Laboratory
- China Biotechnology Co. Ltd
- Serum Institute of India Pvt. Ltd.
- AJ Vaccines
- Statens Serum Institute
For more information about this report visit https://www.researchandmarkets.com/r/g9xirf
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