Global Polio Vaccine Market was worth of USD 13.95 Billion in 2020 and it is expected to reach USD 20.29 Billion by the end of 2027 with a CAGR of 5.5% during the Forecast Period.
Global Polio Vaccine Market Size, Trends, Competitive, Historical & Forecast Analysis to 2021-2027, Rising awareness towards the eradication of polio virus, investment done by government and increasing population have anticipated the growth of the global polio vaccine market.
Polio is the shortened name for the poliomyelitis which is caused by the polio virus. This virus mostly affects the central nervous system and muscle weakness which results in the flaccid paralysis. The symptoms of polio virus are fever, sore throat, headache, neck stiffness, and pain in legs & arms. This virus spread from person to person through fecal substance entering into mouth, and food & water containing human feces. This disease can be prevented through polio vaccines. The inactivated polio vaccines are safe and can prevent from getting paralyzed. The emergence of this vaccine has also developed the novel oral polio type 2. The first polio vaccine was developed by the Hilary koprowski in 1950 which was a live attenuated virus. Another live attenuated oral polio vaccine was developed by Albert Sabin which came into commercial use in 1961.
COVID-19 pandemic has shown the negative impact on the manufacturing of the global polio vaccine market. COVID-19 has also disrupted the polio immunization plans world-wide. Strict rules and regulation for travelling outside along with the reduction of immunization campaign owing to lock down which resulted in the low demand of the polio vaccine. Pandemic has reduced the production of the polio vaccine due to lack of workforce supported by disrupted supply chain. The national lockdown for preventing spread of corona virus has also affected the polio vaccine manufacturing units. According to UNICEF, almost 2.6 million children in Afghanistan have missed the polio campaign due to the lack of access in anti- government areas.
Global polio vaccine market is segmented on the basis of vaccine type, application, and region and country level. Based on the vaccine type the global polio vaccine market is classified into oral vaccine, inactivated vaccine and others. Based on the application the global polio vaccine market is classified into private, public.
The regions covered in this global Polio Vaccine market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East ,GCC, (UAE, Saudi Arabia, Kuwait) Africa, etc.
Some major key players for global polio vaccine market report cover prominent players like:
January 22nd, 2018: India launched its first injectable polio vaccine as an inactivated polio vaccine (IPV). This IPV is administered in addition to the oral polio drops given in immunization program. In the first phase this vaccine is available in 6 States, Assam, Madhya Pradesh, Gujarat, Punjab, Bihar, and Uttar Pradesh. This IPV injection will be given to children who are below 1 year along with the third dose of oral polio vaccine. This will act as the double protection against re- emergence of this virus. IPV is the key step towards global endgame strategy.
The main factor driving the market growth is increasing awareness towards eradication of the polio virus. The global polio eradication initiative was launched in 1988, with the private and public partnership led by government with 6 partners. According to the polioeradication.org, around 200 countries got involved with approximately 2.5 billion children get vaccinated & investment of USD 4 billion world-wide. Polio eradication strategy 2022-2026 which was launched by GPEI in 2020, it has the special goal for eradicating remaining type of WPV1 and validating the absence of cVDPV2 and preparing for post-polio challenges.
Another factor that has fueled the global polio vaccine market is continuous increase in population. The world population is 7.9 billion in 2021, which needs to be, prevented not only from polio virus but many other viruses as well. According to the cbs.nl, 179.8 thousand of the child birth recorded in the year 2021. The world has achieved 99% reduction from the polio virus transmission and elimination of 5 out of 6 regions which comes under WHO. The restraining factor that can hamper the growth of the global polio vaccine market is lack of information regarding the safety of vaccination in undeveloped countries. However, Socio cultural issues followed by the political issues and misconceptions about vaccination in undeveloped countries are likely to hamper the market growth. Moreover, rising investment and development of new strain vaccines for better prevention and new product launches in the market are expected to contribute the market growth.
The rising consumption of polio vaccine, increasing population and awareness towards immunization programs has boosted the market growth in this region. Asia Pacific contains more than half of the world population. Due to growing population in Asia pacific immunization is the only way to prevent from the polio virus. According to the WHO, the cases of wild poliovirus has decreased tremendously by over 99% from 350 000 cases in 1988 to only 33 cases in 2018. Another factor that drives the market is increasing vaccination along with surge in vaccination programs. According to WHO, 110 million children under age 5 are vaccinated against polio in India on 31st Jan’ 2021.
African’s are still fighting against the polio virus despite of eradication of wild polio virus. Oral drops of vaccination are done containing weakened form of poliovirus which can mutates to some other strain and can cause paralysis. According to the bmcpublichealth, in mid-2019, the outbreaks occur of circulating vaccine-derived polio viruses, cVDPV of type 1 and 2 were detected in more than 25 countries across 4 WHO regions including Africa. According to NCBI, 388 cases of wild polio virus was found in Nigeria in the year 2009 and only 21 cases were there by 2010, including a little increase in the cases of wild polio virus in 2012 there were 122 cases.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 13.95 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 20.29 Billion|
|Tables, Charts & Figures:||175|
|Polio Vaccine Companies||Sanofi Pasteur Limited, Panacea Biotec Ltd, Astellas Pharma Inc., Pfizer Inc., Novartis AG, Merck & Co., Inc., Abbvie Inc., Bharat Biotech, Serum Institute of India Pvt. Ltd., And others|
|Segments Covered||By Vaccine Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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