Polio Vaccine Market Size, Share, Growth, and Global Industry Analysis by Type (Inactivated Polio Vaccine (IPV) and Oral Polio Vaccine (OPV)), By Application (Public and Private), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

POLIO VACCINE MARKET REPORT OVERVIEW

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The global polio vaccine market size is estimated to be around USD 694.4 million in 2022 and is projected to touch USD 1064.95 million by 2031, exhibiting a CAGR of 4.4% during the forecast period.

Polio vaccines are vaccines developed to prevent poliomyelitis (polio). Polio is a lethal disease that infects the spinal cord of a person causing paralysis. The disease spreads from person to person. There are 2 types of vaccines: inactivated polio vaccine [IPV] given with the help of injections; oral polio vaccine given by mouth. It is mandatory for infants to be fully vaccinated against polio. It is recommended by World Health Organization that infants are given 4 doses of polio vaccine.  

Inactivated poliovirus vaccine [IPV] was the only vaccine that was given in the U.S. according to CDC. The vaccine protected 99 out of 100 children. According to Wikipedia, the vaccines have reduced the number of cases reported each year from an estimated 350,000 in 1983 to 33 in 2018. The minimal costs of the polio vaccine made it feasible and accessible to all. The vaccine made did not contain any preservatives, minimalizing the side effects of the vaccine

COVID-19 Impact: Increasing COVID-19 Patients Obstructed Polio Market

The global COVID-19 pandemic has been unprecedented and staggering, with polio vaccine experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is a byproduct of the polio vaccine market growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 had a life changing impact globally. The global polio vaccine market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. The pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for polio vaccine experienced a significant down-low.

The COVID-19 pandemic affected the 3-decade drive to wipe out polio. Global Polio Eradication Initiative suspended polio vaccination campaigns to help stop the spread of the novel corona virus. They believed that these campaigns would become a potential hotspot for the virus. Hence, they paused the campaigns underway in 28 countries to stop outbreaks sparked by the live virus vaccine itself. They further regularly monitored the situation and reopened once it was deemed safe to do so.

According to article published on PubMed Central, the continued surveillance indicated that there was a 34% decline in the number of global acute flaccid paralysis. By the end of September 2020, a total of 14 countries, initiated vaccine-derived poliovirus 2 [cVDPV2] outbreak response vaccination campaigns. Soon after Pakistan and Afghanistan resumed SIAs to contain the poliovirus type 1 [WPV1]. The GPEI imposed new considerations and program implementations across immunization and health services to stop the rise of polio virus.

LATEST TRENDS

"New Experiments Conducted to Develop a Range of Application"

The global polio vaccine market growth is anticipated to increase owing to recent scientific developments. An article published by American Society for Microbiology hinted towards a new development of the vaccine. Recent polio outbreaks were majorly strains from OPV. This urged the campaigns to use IPV instead. Hence, to contain cVDPV-2, the novel oral polio vaccine 2 [nOPV2] was developed. It contained a modified strain of type 2 polio virus that is less likely to form paralysis or give rise to cVDPV2.

A journal published by nature has identified a vaccine designed to prevent harmful mutations. It is seen as the key to eradicating polio. The vaccine is triple -locked using genetic engineering. The individual bases of the initial vaccine were swapped so it would be hard for the virus to undo the alteration. The even engineering it to hinder the virus from recombining with other gut viruses.

POLIO VACCINE MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into Inactivated Polio Vaccine (IPV) and Oral Polio Vaccine (OPV). The IPV segment will dominate the market share through 2028.

• By Application

Based on application; the market is divided into Public and Private. The public segment will capture the dominant share through 2028.

DRIVING FACTORS

"Scientific Developments to Increase the Market for Polio Vaccine"

The global polio vaccine market growth is anticipated to spike. This is owing to the increasing investments for scientific development of the vaccine. Vast research is being done on creating different types of polio vaccine. This is directly causing a rise in the number of annual dosages for polio vaccines around the globe. This is expected to benefit the growth of the market in the forecast period.

"Increasing Number of Infants to Boost Demand for Polio Vaccine"

According to MacroTrends, the current birth rate for the World in 2022 is 17.668 per 1000 people. This number is expected to rise owing to the lockdown imposed due to pandemic. UNICEF stated that their recent campaign in November 2021 delivered polio vaccinations to 8.5 million children under the age of 5. Meanwhile vaccinating 8 million children in December 2021. The rising awareness led by the government in vaccination against viruses is a estimated to grow the polio vaccine market.

RESTRAINING FACTORS

"IPV Side Effects poses as a Major Obstacle for the Market "

Inactivated polio vaccines are given to millions of children and adults. But the immunization using IPV has displayed side effects of rash and itching. IPV weakens immunity in the intestine. Following the immunization with IPV every person gets infected with wild polio virus which multiply in the intestines. Hence, these side effects can hinder the acceptance from community for such inactivated polio vaccines. This would hamper the global polio vaccine market.

POLIO VACCINE MARKET REGIONAL INSIGHTS

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"Asia Pacific Dominates the Market Owing to Increase in Infant Population"

Asia Pacific holds the largest part of the global polio vaccine market share. This is due to increasing geriatric population of infants. The increase in the number of infants is a direct contributing factor to a requirement of polio vaccines. Countries in this region still consider polio as an endemic. With the rising awareness from the government for immunization, has led the region to be a major shareholder.

KEY INDUSTRY PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

List of Market Players Profiled

• Sanofi [France]
• GSK [U.K.]
• Bharat Immunologicals and Biologicals Corporation Limited [India]
• Serum Institute [India]
• Tiantan Biological [China]
• Panacea Biotec [India]
• Bio-Med [India]
• Halfkin Bio-Pharmaceuticals [India]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. The studies also offer a detailed analysis by identifying factors such as segmentation, advancements in the industry, growth, size, share and constraints. These analytics are subject to change if the key players and probable analysis of market dynamics changes.