BCG Vaccine Market to Reach $74,269.55 Thousand, Globally, by 2030 at 4.8% CAGR: Allied Market Research

Rise in prevalence of tuberculosis, especially in developing and underdeveloped countries, and technological advancement in the field of vaccine research drive the growth of the global BCG vaccine market

PORTLAND, Ore., March 3, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "BCG Vaccine Market by Demographics (Pediatric (0-18 Years) and Adults (19-35 Years): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global BCG vaccine industry was estimated at $46,637.50 thousand in 2020, and is anticipated to hit $74,269.55 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Rise in prevalence of tuberculosis, especially in developing and underdeveloped countries, and technological advancement in the field of vaccine research drive the growth of the global BCG vaccine market. On the other hand, certain side effects and global shortage of the vaccine impede the growth to some extent. However, untapped market opportunities in the developing economies have been highly beneficial for the market growth.

Covid-19 Scenario-

• The outbreak of the pandemic has had a slight negative impact on the global BCG vaccine market, especially during the initial phase of the pandemic, since the concurrent global restrictions caused huge disruptions in the supply chain.
• However, the market has recovered at a swift pace.

The pediatrics (0-18 years) segment to lead the trail-

By demographics, the pediatrics segment generated the highest share in 2020, holding more than three-fourths of the global BCG vaccine market. The same segment is also expected to cite the fastest CAGR of 5.0% from 2021 to 2030, owing to increase in the prevalence of tuberculosis, especially in the developing and underdeveloped countries, and technological advancements in the field of vaccine research.

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Asia-Pacific to dominate by 2030-

By region, Asia-Pacific contributed to the major market share in terms of revenue 2020, holding nearly two-fifths of the global BCG vaccine market. The same region is also projected to cite the fastest CAGR of 5.3% from 2021 to 2030. This is attributed to improvements in healthcare infrastructure, rise in the number of hospitals equipped with advanced medical facilities, and developments in the R&D sector in the region.

Prominent market players-

• China National Biotec Group
• Sanofi Pasteur, Merck & Co., Inc.
• Japan BCG Laboratory
• AJ Biologics
• Serum Institute of India Pvt. Ltd.
• InterVax Ltd.
• Statens Serum Institut
• Torlak Institute of Virology
• GreenSignal Bio Pharma Limited (GSBPL)

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