by Tuberculosis vaccine helps in preventing tuberculosis by strengthening the body’s immune system to fight the bacteria that causes tuberculosis. It is used for active immunization of individuals from 6 weeks of age onwards at high risk of TB infection and progression to disease. The global Tuberculosis Vaccine Market is estimated to be valued at US$ 149.67 Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of new tuberculosis vaccine candidates is fuelling the market growth. Currently, MVA85A and VPM1002 are the most advanced TB vaccine candidates in clinical development. MVA85A achieved good safety and efficacy results in phase IIb clinical trial. It has been shown to reduce the risk of tuberculosis by 31% in infection naive individuals and 60% in previously infected individuals over 18 months of follow-up. Similarly, VPM1002 also demonstrated good efficacy and tolerability results in phase II clinical trial. It has potential to improve upon BCG by inducing enhanced and sustained immune responses. Successful completion of ongoing phase III clinical trials of these new vaccine candidates and their approval will significantly boost the tuberculosis vaccine market during the forecast period.
SWOT Analysis
Strength: Vaccines that prevent TB are available and provide effective protection against the disease. These vaccines boost immunity and strengthen the body’s defenses against TB.
Weakness: Current vaccines are not very effective for all age groups. They do not provide lifelong protection and booster doses are required. Development of new drugs and vaccines also needs significant investments and time.
Opportunity: Rising incidence of TB cases globally increases the need for improved vaccines. Technological advancements offer opportunities to develop better and more effective vaccines. Growing health expenditures in developing nations create a market for new vaccines.
Threats: Other competing disease priorities and limited funding for research hamper vaccine development progress. Stringent regulatory norms for clinical trials also increase costs and complexity. Political instability and war in high burden countries pose challenges.
Key Takeaways
The global Tuberculosis vaccine market demand is expected to witness high growth. The market size is projected to reach US$ 149.67 Million by 2024, expanding at a CAGR of 21% during the 2023-2030 forecast period. Developing regionsaccount for the largest share of the global TB burden as well as the tuberculosis vaccine market.
The South East Asia region dominates currently due tuberculosis being highly endemic in countries such as India, Indonesia and the Philippines.
Key players operating in the tuberculosis vaccine market include Fujitsu Limited, Mindtree Limited, IBM Corporation, Wipro Limited, Unisys Corporation, CenturyLink Inc., Virtustream Inc. and HCL Technologies Limited. These companies are focusing on technological advancements to develop improved multi-antigen vaccines with greater immunogenicity and efficacy. Collaborations with drug developers and research institutes are also guiding vaccine development efforts.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
