Global Inactivated Poliovirus Vaccine Market Research Report 2023-2060

Inactivated Poliovirus Vaccine Market Size And Forecast

Inactivated Poliovirus Vaccine Market size was valued at USD 10.00 Billion in 2023 and is projected to reach USD 14.07 Billion by 2031, growing at a CAGR of 5.1% during the forecast period 2024-2031.

Global Inactivated Poliovirus Vaccine Market Drivers

The market drivers for the Inactivated Poliovirus Vaccine Market can be influenced by various factors. These may include:

• Global Polio Eradication Initiatives: The need for IPV is fueled by initiatives to eradicate polio worldwide, including those of the World Health Organisation (WHO), UNICEF, and the Bill & Melinda Gates Foundation. These programmes frequently entail huge immunisation drives, necessitating large amounts of IPV.
• Government Immunisation Programmes: The demand for IPV is significantly fueled by government-funded immunisation programmes, particularly in nations where polio is still prevalent or a danger. Government regulations requiring youngsters to have a polio vaccination also support market expansion.
• Public Health Education and Awareness: The need for IPV may be fueled by a greater understanding among the general public and medical professionals of the value of vaccination in preventing infectious diseases, such as polio.
• Growing Population: As more children need to be vaccinated, there may be a greater need for IPV due to population growth, especially in areas with high birth rates and poor access to healthcare.
• Growth of Healthcare Infrastructure: Access to immunisation services can be improved with improvements to healthcare infrastructure, especially in developing nations, which will increase demand for IPV.
• Technological developments: IPV can become more widely available and reasonably priced as a result of advancements in production techniques and formulation, which can raise efficiency and lower prices.
• Regulatory Support: By promoting vaccine development and market entrance, supportive regulatory frameworks and policies that expedite the IPV approval process and guarantee vaccine safety and efficacy can stimulate market growth.
• worldwide Travel & Migration: The spread of infectious diseases, such as polio, is facilitated by an increase in worldwide travel and migration. This may result in increased demand for vaccinations, such as IPV, to stop outbreaks and safeguard people.
• Opportunities in Emerging Markets: As these economies grow and healthcare spending rises, vaccine makers may have more chances to enter new markets and satisfy the growing need for IPV.
• Pandemic Preparedness: The COVID-19 pandemic has brought attention to the necessity of effective vaccination programmes as well as the role that vaccination plays in preventing infectious diseases. The IPV business may benefit indirectly from this heightened attention on pandemic preparedness since it highlights the significance of regular immunisation campaigns.

Global Inactivated Poliovirus Vaccine Market Restraints

Several factors can act as restraints or challenges for the Inactivated Poliovirus Vaccine Market. These may include:

• Limited Market market: The market for IPV may be restricted to particular populations or locations where the disease still poses a concern, given the success of polio eradication efforts in many regions. This low demand may prevent the market from expanding.
• High Production prices: Producing IPV requires a number of intricate procedures as well as strict quality control standards, which drives up production prices. This may result in increased vaccination costs, which can restrict access to it, especially in areas with poor incomes.
• Regulatory Difficulties: New IPV producers or variants may have a delay in entering the market due to the stringent and protracted regulatory criteria for vaccination approval. The process of developing and distributing products becomes more complex and expensive when different locations have to adhere to varied regulatory norms.
• Competition from Oral Poliovirus Vaccine (OPV): Compared to IPV, OPV is a less expensive vaccine to make and administer. IPV’s market share may decline if OPV is favoured over IPV in areas where cost is a major consideration.
• Vaccine hesitation: The adoption of IPV can be impacted by vaccine hesitation, which is caused by false information or mistrust in vaccines. Lower demand may result from worries about the effectiveness or safety of vaccines, particularly in areas where such reluctance is common.
• Infrastructure and Logistics Challenges: In order to preserve vaccine potency, cold chain infrastructure is needed for the delivery and storage of vaccines, especially inactivated vaccines like IPV. Ensuring vaccine quality and accessibility can be challenging in areas with limited infrastructure or logistical difficulties.
• Global supply chain disruptions can result in shortages or delays in the availability of IPV vaccines. These disruptions can be caused by events like pandemics, natural catastrophes, or unstable political environments.
• Intellectual property rights and patent protection: These two factors have the potential to prevent new producers from entering the market, so reducing competition and possibly maintaining high costs.
• governmental financing and Investment: The resources available for IPV development, production, and distribution may be limited due to limited governmental financing or investment in polio eradication initiatives, which could affect market growth and accessibility.
• Complexity of Immunisation Programmes: Coordinating healthcare providers, legislators, and communities is necessary to implement comprehensive immunisation programmes that include the introduction and ongoing use of IPV. Reaching broad IPV penetration may be difficult due of these programmes’ complexity.

Global Inactivated Poliovirus Vaccine Market Segmentation Analysis

The Global Inactivated Poliovirus Vaccine Market is segmented on the basis of Type, End-User, Distribution Channel And Geography.

Inactivated Poliovirus Vaccine Market, By Type

• Monovalent IPV (mIPV): Contains only one strain of inactivated poliovirus and provides immunity against that particular strain.
• Trivalent IPV (tIPV): Contains all three strains of inactivated poliovirus and provides immunity against all three strains.

Inactivated Poliovirus Vaccine Market, By End-User

• Hospitals: Large healthcare facilities where IPV is administered to infants, children, and adults as part of routine immunization programs.
• Clinics: Smaller healthcare centers where IPV may be administered as part of routine vaccination or specific campaigns.
• Government Agencies: Entities responsible for procuring and distributing IPV for national immunization programs.

Inactivated Poliovirus Vaccine Market, By Distribution Channel

• Government Distribution: IPV supplied through government channels as part of national immunization programs or campaigns.
• Private Distribution: IPV distributed through private healthcare providers, pharmacies, and other channels.
• Non-profit Organizations: IPV distribution facilitated by international organizations and NGOs involved in polio eradication efforts.

Inactivated Poliovirus Vaccine Market, By Geography

• North America: Includes countries like the United States and Canada, where IPV is administered as part of routine childhood immunization schedules.
• Europe: Encompasses countries where IPV is widely used for polio eradication efforts and routine vaccination.
• Asia-Pacific: Includes countries with significant polio burden and those actively working towards polio eradication through vaccination campaigns.
• Latin America: Countries with varying levels of polio incidence and vaccination coverage.
• Middle East and Africa: Regions where polio eradication efforts face challenges due to conflict, infrastructure issues, and vaccine hesitancy.

Key Players

The “Global Inactivated Poliovirus Vaccine Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are GlaxoSmithKline, Sanofi, Astellas Pharma, Serum Institute of India Pvt. Ltd., Kedrion Biopharma, Panacea Biotec Ltd., Bharat Biotech, Bilthoven Biologicals., Pfizer Inc., Bio Farma, Sinovac Biotech Ltd., Cadila Healthcare Limited, LG Chem Ltd. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• On July 8, 2021 Biological E announced it had signed a licensing and co-operation agreement, in which Providence had agreed to sell up to 30 million doses of its PTX-COVID 19-B vaccine. Under the agreement, Providence will provide the necessary technology transfer for Biological E to make mRNA drugs in India with a maximum production capacity of 600 million units by 2022 and target a volume of one billion dollars.
• On July 8, 2021 GlaxoSmithKline plc and Vir Biotechnology, Inc. announced that they have signed a Memorandum of Understanding with the European Commission to provide up to 220,000 doses of Sotrovimab, a single dose of SARS-CoV-2 antibody for the treatment of adults and adolescents (elderly 12 years and older and weighing at least 40 kg). ) with COVID-19 which does not require the addition of oxygen and is at risk of further exposure to severe COVID-19. The Joint Procurement Agreement enables European Union (EU) Member States to participate in the immediate purchase of Sotrovimab, following urgent local approval or EU-level approval, to treat patients at high risk with COVID-19 who may benefit from early treatment with Sotrovimab.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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