BCG Vaccines Market: Introduction
- Currently, BCG vaccine is the only available vaccine for tuberculosis (TB). It helps prevent tuberculosis (TB) in adults and children who have tested negative for a tuberculin skin test. Tuberculosis (TB) is an infectious disease caused by bacteria known as nontuberculous mycobacteria. Interferon-Gamma Release Assays (IGRAs) are a type of blood test used to detect the bacteria Mycobacterium tuberculosis (MTB).
- In several countries with a high prevalence of tuberculosis, BCG is used to prevent tuberculous meningitis and miliary disease in children. Unlike most other vaccines, the BCG vaccine does not require the use of a needle and syringe. Instead, the BCG vaccine is a liquid that is applied directly to the skin on the upper arm. The vaccine is subsequently delivered into the shallow layers of the skin using a multi-pronged needle system that pricks the skin through the liquid.
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Key Drivers, Restrains, and Opportunities of Global BCG Vaccines Market
- The BCG vaccine market is expanding due to an increase in the number of TB cases worldwide, rapid advancements in technology in the field of medical research on vaccines, and favorable government policies with increased funding. Several online and offline campaigns, aimed at informing the masses about proper vaccination, have come to the fore in the last few years. This is a key factor that has been boosting the global BCG vaccine market for the last few years.
- Newborns are highly susceptible to several infections and viruses. Therefore, numerous newborns suffer from tuberculosis and other similar diseases. This has propelled the global BCG vaccine market. Moreover, the presence of a separate domain for vaccination within healthcare has also boosted the global market. Consequently, the global BCG vaccines market is estimated to expand significantly in the near future.
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- However, the demand is projected to be restrained by vaccine side-effects and a global shortage of BCG vaccines. Furthermore, several companies are focusing on promoting immunization programs in order to gain a competitive edge over others. This factor is expected to fuel the global BCG vaccine market in the next few years.
- The outbreak of COVID-19 worldwide has impacted all sectors, including healthcare. The BCG vaccine market is impacted by the outbreak of COVID-19, which includes a significant decline in demand due to a lack of visits to healthcare facilities such as hospitals and clinics. The spread of the coronavirus also affects workforce and staff shortages as well as procedural prioritization. This has an negative effect on the BCG vaccine market since planned primary care visits at hospitals are canceled, indicating patients' concerns about infection.
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North America to Capture Major Share of Global BCG Vaccines Market
- North America is anticipated to account for a major share of the global BCG vaccines market during the forecast period owing to government policies and an increase in focus on immunization programs
- Moreover, the prevalence of bladder cancer is growing in this region, resulting in an increase in demand for BCG vaccine in the treatment of bladder cancer. According to the Centers for Disease Control and Prevention (CDC), bladder cancer affects about 57,000 men and 18,000 women in the U.S. each year, with around 12,000 men and 5,000 women dying from the disease.
- The BCG vaccines market in Asia Pacific is likely to expand at a rapid pace during the forecast period. This is attributed to an increase in expenditure on healthcare coupled with advancements in vaccines.
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Key Players Operating in Global BCG Vaccines Market
The global BCG vaccines market is highly concentrated, with the presence of large number of key players. These players hold major share in their respective regions.
Major players operating in the global BCG vaccines market are listed below:
- AJ Vaccines
- BB-NCIPD Ltd.
- Biomed Lublin S.A.
- InterVax Ltd
- Japan BCG Lab
- Microgen
- Serum Institute of India Pvt. Ltd
- Sanofi S.A.
- Merck Sharp & Dohme Corp.
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