BCG Vaccine Market Projected to Cross $28,051 Thousand by 2023 With a CAGR of 4.6% Says AMR

There is currently no substitute for BCG vaccines, so there is an urgent need to improve the methods used for BCG quality control. This will be possible with the help of technological advances in the field of genomics and proteomics and will help develop new methods for BCG testing. These advanced test methods ensure the safety, quality, and effectiveness of BCG vaccine formulations.

BCG Vaccine Market is estimated to reach $ 28,051 thousand by 2023 and is growing at a CAGR of 4.6% between 2017 and 2023. In countries with a high prevalence of tuberculosis, a single dose is recommended for healthy babies near birth.

However, in areas where tuberculosis is rare, only high-risk children are usually vaccinated, and cases of suspected tuberculosis are examined and treated individually. Adults who have not been infected with tuberculosis and have never been vaccinated before, but are frequently exposed to drug-resistant tuberculosis, can be vaccinated as well.

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The major companies profiled in the report include Merck & Co., Inc., Sanofi Pasteur, Japan BCG Laboratory, China National Biotec Group (a subsidiary of China National Pharmaceutical Group Corporation), Serum Institute of India Pvt. Ltd., InterVax Ltd., GreenSignal Bio Pharma Limited (GSBPL), and Statens Serum Institut.

The major factor that contributes to the market growth are increase in incidence rate of tuberculosis in developing nations, rise in R&D activities related to vaccines, and growth in government initiatives and focus on immunization programs globally. However, side reactions of BCG vaccines on patients and shortage of vaccine supply hinder the market growth. Moreover, untapped market opportunities in developing regions are expected to provide numerous opportunities for market growth.

The pediatrics segment is expected to maintain its dominant position during the analysis period, as the vaccine is administered to all the children at the time of birth. As BCG is recommended for only one dose; therefore, it is used rarely in the case of adults.

Key Findings of the BCG Vaccine Market:

The pediatrics segment accounted for more than three-fourths share of the global market in 2016.

China is expected to grow at a rapid CAGR of 6.2% from 2017 to 2023.

India accounted for one-sixth of the global market in 2016.

The adults segment is expected to grow at a CAGR of 3.6% from 2017 to 2023.

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