APAC Tuberculin Market

APAC Tuberculin Market Size (2022 to 2027)

The size of the Asia-Pacific Tuberculin market is projected to change from USD 50.61 million in 2022 to 69.63 million in 2027, at a CAGR of 6.59%.

The growth of the Asia Pacific tuberculin market is primarily driven by Y-O-Y growth in tuberculosis incidence around the APAC region. The market's growth has been assisted by increased government initiatives to secure the supply of these types of pharmaceuticals and boost public awareness. Furthermore, as economies have evolved and disposable income has increased, people have used these drugs to improve their growth. In addition, technological advancements in this field have been employed to enhance the efficacy of these medications and expand their market.

As a result of increasing therapeutic advancements, the demand for tuberculosis drugs is expanding. In addition, the market is also predicted to grow since there is an opportunity for industry participants to speed up the market approval of their pipeline diagnostic products by promoting basic TB research. Furthermore, technical advancements in genomics and proteomics are propelling the industry.

Increased finances and investments from private and public sectors are expected to propel the Asia Pacific tuberculin market to new heights in the future years of the forecast period. Furthermore, the Asia Pacific tuberculin sector is being aided by several government-sponsored health-awareness programs worldwide. In addition, the rising research and development activities are another major factor projected to boost the tuberculin market's growth. 

The increased number of medicine recalls is a significant barrier to market expansion. Manufacturers of tuberculosis medicines are noticing an upsurge in product recalls due to packaging or manufacturing flaws. For example, Sandoz had to cancel a batch of tuberculosis (TB) drugs in India due to poor packaging. In addition, the high price of medications is also a stumbling block to the market's expansion. Second-line therapy pharmaceuticals are more expensive than first-line therapy treatments and have more side effects and toxicity.

The adverse effects of tuberculin are limiting the market's growth. In a considerable number of cases, irritation, swelling, and discomfort at the injection site have been reported, putting the business on the decline. In addition, Tuberculin's effects on a developing fetus are still being studied. These are the challenges that the Tuberculin market is facing.

This research report on the APAC Tuberculin Market has been segmented and sub-segmented into the following categories:

By Product Type:

• PPD-S
• PPD RT23

By Application:

• Human Use
• Animal Use

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the Asia Pacific market is predicted to grow at the highest rate among all the regions across the globe. Because of the high prevalence of tuberculosis, India and Southeast Asia are important markets. The key cause for the highest growth rate is the rapidly increasing number of instances. Increased tuberculosis incidences are key factors driving the market's demand in the Asia Pacific. In addition, the Tuberculin market in this region is further driven by new product releases, partnerships, mergers and acquisitions, and regional expansions, among other strategic activities. These factors are expected to impact the Tuberculin market in the Asia Pacific positively.

Because of the high prevalence of tuberculosis and the disease's rapid spread, the Japanese Tuberculin market is expected to develop profitably over the forecast period. Furthermore, the rising prevalence of tuberculosis (TB) in Japan is aiding the expansion of the TB diagnostics market. The disease's high prevalence creates an urgent requirement for accurate and rapid detection.

India is predicted to take the Asia Pacific Tuberculin market, following Japan. According to India's recent budget release, the country's goal is to eradicate tuberculosis by 2025, which is predicted to be one of the primary reasons driving the Asia-Pacific market during the forecast period.

KEY MARKET PLAYERS:

Companies playing a significant role in the APAC tuberculin market profiled in this report are San road Biological, Japan BCG, Par Sterile, Sanofi Pasteur, Zoetis, SSI, Thermo Fisher, CNBG, and CZ veterinaria.