The Reduction Of Polio Virus Initiative By Official With Several Collaborations And Partnerships To Boost The Polio Vaccine Market Growth

 

Polio Vaccine Market

Polio Vaccine Market By Vaccine Type (Oral Vaccine, Inactivated Vaccine, Others), By Application (Private, Public) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Polio Vaccine Market is estimated to be valued at US$ 4.75 billion in 2023 and is expected to exhibit a CAGR of 5.24 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Inactivated Poliovirus Vaccine is the only polio vaccine that is being inoculated to the patients U.S since 2000. PV saves one from critical disorders led by poliovirus in around everyone who has been given all the suggested dosages. Oral polio vaccine saves the individual from polio paralysis by inhibiting the extent of PV to the nervous system.

Competitive Landscape:

Key players involved in the growth of global Polio Vaccine Market is Sanofi Pasteur Limited, Serum Institute of India Pvt. Ltd., Astellas Pharma Inc., Panacea Biotec Ltd., Abbvie Inc., Pfizer Inc., Merck & Co., Inc., Novartis AG, Bharat Biotech and others.

Market Key Drivers:

The reduction of polio virus initiative by official with several collaborations and partnerships is expected to augment the growth of global polio vaccine market. For instance, as per the polioeradication.org, over 200 countries were included with around 2.5 billion children being vaccinated & invested around US$ 4 billion across the globe.

The rising population and the prevention of the population from other viruses is projected to propel the growth of global polio vaccine market. For instance, as per cbs.nl, 179.8 thousand of the child birth were reported in year 2021 across the globe.

Covid-19 Impact Analysis:

COVID-19 pandemic has adversely affected the growth of global Polio Vaccine Market due to the disruption on the manufacturing of vaccine. COVID-19 has also interrupted the polio vaccine plans globally.  Stringent rules and regulation for medical tourism with decrease of immunization campaign due to shut down which led to the less necessity of the polio vaccine. Pandemic has decreased the manufacture of the polio vaccine owing to lack of staff led to interrupted supply chain. The worldwide shutdown for inhibiting spread of corona virus has also impacted the production units of polio vaccine. 

Key Takeaways:

The global polio vaccine market is anticipated to exhibit a CAGR of 5.24 % during the forecast period owing to the rising launch of injectable vaccines. For instance, in January 22nd, 2018 India introduced its initial injectable polio vaccine as an IPV.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global Polio Vaccine Market due to rise in population, rising usage of polio vaccine, regulatory initiatives and approvals and increasing approvals and launches. For instance, as per WHO, over 110 million children below 5 years were vaccinated for polio in India on January 31st, 2021.

 

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