July 25, 2024
Tuberculosis Vaccine Market

Tuberculosis Vaccine Market poised to expand at a CAGR of 21% by 2031

The tuberculosis vaccine market comprises products that help in the prevention of tuberculosis infection caused by bacteria called Mycobacterium tuberculosis which usually affects the lungs. Tuberculosis vaccines are an important part of the global public health strategy to control and eventually eliminate the deadly disease. The current vaccine used is Bacille Calmette Guérin (BCG) which is given to newborn babies in high burden countries however its efficacy reduces with time thus new vaccines with higher efficacy are being developed.

The Global Tuberculosis Vaccine Market is estimated to be valued at US$ 172.42 Bn in 2024 and is expected to exhibit a CAGR of 21% over the forecast period from 2024 to 2031.

Key Takeaways

Tuberculosis Vaccine Companies are Fujitsu Limited, Mindtree Limited, IBM Corporation, Wipro Limited, Unisys Corporation, CenturyLink Inc., Virtustream Inc. and HCL Technologies Limited. These players are engaged in developing novel vaccines with higher efficacy against all forms of tuberculosis which is expected to drive the market growth.

The rising prevalence of drug resistant tuberculosis strains has increased the need for more effective vaccines. As per the WHO, globally around 10 million people developed tuberculosis in 2021 out of which around 1.5 million people lost their lives due to the disease. This growing burden of the disease is anticipated to boost the demand for tuberculosis vaccines during the forecast period.

Several product pipeline candidates are under development by manufacturers which upon regulatory approvals are expected to penetrate global markets. Moreover, partnerships and acquisition activities between pharma companies and research institutes are also likely to support commercialization of new vaccine formulations including subunit and DNA vaccines. This is expected to fuel the overall expansion of the global tuberculosis vaccine market.

Market Key Trends

The development of novel vaccine platforms for tuberculosis such as mRNA vaccines is one of the key trends witnessed in the market. Companies are exploring mRNA based vaccine candidates which can induce both mucosal and systemic immune responses against M. tuberculosis. mRNA vaccines can also be formulated to target specific strains of tuberculosis bacteria. Regulatory approvals of such innovative vaccines are anticipated to revolutionize tuberculosis prevention.

Porter’s Analysis

Threat of new entrants: High capital requirements and stringent regulations by healthcare authorities pose significant entry barriers for new players.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternative treatment options for tuberculosis.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the differentiated nature of inputs required for vaccine development.

Threat of new substitutes: Potential threat from new alternative treatment methods and drugs for tuberculosis.

Competitive rivalry: Intense competition amongst existing players to develop more efficacious and cost-effective vaccines.

Geographical Regions

North America accounts for the largest share of the tuberculosis vaccine market, primarily due to high diagnosis and treatment rates in the US and Canada. According to the WHO, in 2020, the US reported 9,321 new tuberculosis cases.

Asia Pacific is projected to witness the fastest growth during the forecast period owing to the large patient population, increased government funding for tuberculosis control programs, and growing awareness about novel vaccine technologies in countries like India, China, and Japan. India has the highest tuberculosis burden globally, accounting for over 25% of the total new cases worldwide.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it