According to a new report published by Allied Market Research, titled, “Global BCG Vaccines Sales Market by Drug Type, Usage, End User, Region: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,” the Global BCG vaccines sales market size is expected to increase and is anticipated to reach $65 million by 2025, registering a CAGR of 4.2% from 2019 to 2025.
BCG vaccine is a live attenuated vaccine used for the prevention of tuberculosis. The types of BCG drugs include immune BCG and therapy BCG. The BCG vaccines sales market growth has increased owing to gained prominence in the recent years due to high prevalence of tuberculosis worldwide and rise in number of drug-resistant tuberculosis cases. However, replacement for BCG vaccine is expected to restrain the market growth.
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COVID-19 scenario analysis:
1) The COVID-19 impact on the BCG Vaccines Sales Market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
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Based on usage, the tuberculosis segment occupied the largest share of the market in 2017 and is expected to grow at the highest rate during the forecast period.
By end user, the pediatrics occupied the largest share in 2017, owing to increase in adoption of BCG vaccines due to its efficacy to prevent tuberculosis in pediatrics.
Key findings of BCG Vaccines Sales Market:
•Europe occupied one-third share of the global BCG vaccines sales market in 2017.
•The tuberculosis segment is anticipated to grow with the highest CAGR throughout the forecast period.
•The pediatrics segment accounted for three-fourth share of the market in 2017.
•Immune BCG is anticipated to grow at the highest rate during the analysis period.
List of Key Players Profiled in the Report: