Global Tuberculosis vaccine treatment Market – Overview:
Tuberculosis (TB), is an infectious disease that usually affects the lungs caused by the bacteria Mycobacterium tuberculosis (MTB). The vaccines triggers a potent immune response against infectious diseases. Tuberculosis (TB) vaccines are for the prevention of tuberculosis.
Increasing awareness about vaccination, growing government funding for vaccination programs and increasing prevalence of infectious diseases drive the growth of this market. Improving healthcare infrastructure, and emphasis on prevention of diseases also drives growth of this market.Additionally, government initiatives and growth strategies such as new product innovation, large pipeline products, and merger & acquisition activities taken up major market players are likely to enhance the growth of Tuberculosis vaccine treatment market.
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According to World Health Organization (WHO), India and China are among top three countries with largest number of TB cases recorded.This rising case of TB is likely to enhance the growth of TB market globally.
However, factors such as side effects occurring from vaccinations and government approval time for vaccine, are likely to hamper the growth of tuberculosis vaccine treatmentmarket.
Key Market Players:
Serum Institute of India Pvt. Ltd. (India), GlaxoSmithKline plc (UK), Merck & Co., Inc.(US), Sanofi Pasteur SA (France), GreenSignal Bio Pharma Limited (India), IDT Biologics GmbH Bavarian Nordic(US), Solvay(US), Informa plc.(US)
Sanofi Pasteur SA.
Headquartered in Lyon cedex, France, Sanofi Pasteur is a world leader in human vaccines. Combination vaccines that protect against multiple diseases are one of the strengths of Sanofi Pasteur’s product range. The firm offers vaccines for various diseases such as Japanese encephalitis, meningococcal meningitis, cholera, tuberculosis, typhoid, rabies, yellow fever, hepatitis A, and hepatitis B.The company has focused on various inorganic and organic growth strategies to enhance its product portfolio and gain foothold in various geographies. For instance in the year 2014, Sanofireceived US Food and Drug Administration (FDA) approval for its Priftinin combination with isoniazidtreatment of latent tuberculosis infection (LTBI). Additionally, in 2014, Sanofi collaborated with Statens Serum Institut of Denmark, for the development of a new vaccine for tuberculosis. These product approvals and collaborationsincreases the firm’s customer base and widens the company’s already existing wide product portfolio.
Geographically, BCG Vaccine Market Report is segmented into four regions: namely the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas is further segmented into North America and South America. And North America is segmented into the U.S. and Canada. Globally, the U.S. is the largest market for tuberculosis vaccine treatmentowing torising burden of TB,rising health conscious and aware of treatments of tuberculosis in the region.Additionally, increasing need for technological advancements, similarly, increasing healthcare spending is likely to grow the demand for Tuberculosis vaccine treatmentmarket. Similarly, according to CMS (Centres for Medicare and MedicaidServices) U.S. health care spending increased 4.3 percent to reach USD 3.3 trillion per person in 2016.
Europe accounts for the second largest market due to advanced technology, new product innovation, growing prevalence of chronic obstructive pulmonary disease, and rising healthcare expenditure. For instance according to Eurostat, Germany incurred healthcare expenditure of over EUR 321 billion in the year 2014.
Asia pacific region is expected to be fastest growing region in Tuberculosis vaccine treatmentmarket owing to its growing population and increasing healthcare expenditure and increasing rate of awareness regarding the availability of myriad treatments and diagnostic methods for treating various diseases.The level of TB in China makes it a major public health problem. In 2014, there were an estimated 930,000 new cases of TB recorded in China. Each year about 2.2 million people develop TB in India and 1,423,181 people were diagnosed and registered for TB treatment.
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On the other hand, the Middle East & Africa is expected to witness limited growth due to limited access to the healthcare and lack of expenditure on healthcare. In the Middle East, the growth of the market is driven by increasing awareness regarding allergies and the rise in newer technologies to treat various diseases.