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.
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.
- 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.
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.
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
- Serum Institute of India Pvt. Ltd
- Sanofi S.A.
- Merck Sharp & Dohme Corp.
Global BCG Vaccines Market: Research Scope
Global BCG Vaccines Market, by Drug Type
- Immune BCG
- Therapy BCG
Global BCG Vaccines Market, by Usage
- Bladder Cancer
Global BCG Vaccines Market, by End-user
Global BCG Vaccines Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.