According to a recent report by Reports and Data, the global market size for the Bacillus Calmette-Guérin (BCG) vaccine is expected to reach USD 73.02 million by 2028, with a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period. This growth is driven by various factors such as increasing focus on the revaccination approach of BCG, rising demand to combat tuberculosis, technological advancements in vaccine and drug development processes, and growing emphasis on immunization in emerging economies.
BCG vaccine is widely used to prevent tuberculosis and other infections caused by Mycobacterium species. It is also administered to protect against non-tuberculosis mycobacterial infections such as leprosy and in the treatment of superficial carcinoma of the bladder. Tuberculosis is one of the major causes of death globally, with higher prevalence in communities facing socioeconomic challenges. The BCG vaccine is safe, is not linked with severe complications, and is the only available vaccine that can prevent tuberculosis.
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The vaccine is parenterally administered to infants across the globe, majorly in countries with high prevalence of tuberculosis, as a part of the Expanded Program on Immunization by the World Health Organization. In addition, BCG vaccine has several beneficial off-target effects on the immune system that confer protection against a broad spectrum of other infections such as chest infections and diarrhea, among others. The immune BCG vaccine segment is expected to account for the largest revenue share over the forecast period, attributable to increasing administration of BCG vaccine in neonates and young children to provide protection against childhood tuberculosis meningitis.
However, the global shortage of the BCG vaccine, manufacturing and supply chain problems, and ineffectiveness of BCG vaccine in controlling the tuberculosis epidemic are some key factors expected to restrain market growth to a certain extent over the forecast period.
Key companies in the BCG Vaccine Market –
- Merck Co. Inc.
- Sanofi Pasteur
- Japan BCG Laboratory
- China National Biotec Group
- Serum Institute of India Pvt. Ltd.
- InterVax Ltd.
- GreenSignal Bio Pharma Limited (GSBPL)
- Statens Serum Institut.
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The pediatric segment is expected to register robust revenue CAGR over the forecast period, owing to a sharp increase in birth rates across the globe, growing focus on the development of robust TB control programs, rising demand for BCG vaccine to prevent childhood tuberculosis, and emphasis on mandatory vaccination of neonates and young children.
The hospital segment is expected to register significant revenue growth over the forecast period, attributed to increasing availability of vaccine in hospital settings, immunization of newborn babies, favorable reimbursement policies, availability of skilled professionals and advanced healthcare facilities, and implementation of TB control strategies in hospital settings.
North America is expected to register considerable revenue growth over the forecast period owing to rising focus on immunization of children and newborn babies in the United States, availability of cost-effective vaccine, and increasing initiatives to promote vaccination in the region. The major companies included in the market report are Merck Co., Inc., Sanofi Pasteur, Japan BCG Laboratory, China National Biotec Group, Serum Institute of India Pvt. Ltd., InterVax Ltd., GreenSignal Bio Pharma Limited (GSBPL), and Statens Serum Institut.
In conclusion, the BCG vaccine market is expected to grow significantly over the forecast period due to its wide-ranging applications in preventing tuberculosis and other infections caused by Mycobacterium species. However, global shortage of BCG vaccine, manufacturing and supply chain problems, and ineffectiveness of BCG vaccine in controlling the tuberculosis epidemic are some key factors that could restrain market growth.
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