Poliomyelitis Vaccines Market Size, Share, Growth, And Industry Analysis, By Type (IPV and OPV), By Application (Research & Academic Laboratories, Pharmaceutical & Biotechnology Companies and Others), Regional Insights, and Forecast from 2023 to 2030

Updated On: 13 November 2023

Poliomyelitis Vaccines Market Report Overview

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Poliomyelitis Vaccines Market is expected to grow from 742.2 Million in 2022 to USD 945.6 Million by 2028 at a Compound Annual Growth (CAGR) of 4.1% from 2022 to 2028.

A highly contagious viral disease brought on by the poliovirus, poliomyelitis, usually known as polio, is prevented by poliomyelitis vaccines. Due to the polio virus's impact on the neurological system, paralysis, muscular weakness, and other severe consequences might occur. However, adults can also be affected by the illness, which primarily affects children under the age of 5. In order to prevent poliomyelitis, polio vaccines stimulate the immune system to develop antibodies that are specific to the poliovirus. Oral poliovirus vaccines (OPV) and inactivated poliovirus vaccines (IPV) are the two main vaccine kinds.

During the forecast period, there is anticipated to be significant increase in the market for poliomyelitis vaccines. Growing public knowledge of the benefits of poliomyelitis vaccination, ongoing clinical trials being conducted to treat the virus, and the purchase of vaccines by the WHO, UNICEF, and other governmental agencies to treat the infection will all boost the poliomyelitis market. Additional important influencing variables for the demand of the poliomyelitis market are improvements in treatment options and the availability of well-established healthcare facilities. COVID-19 also had a significant effect on the market's expansion.

COVID-19 Impact: Delay in Polio Eradication as Many Countries Redirected Their Health Infrastructure to Control the Pandemic

Global healthcare markets, especially those for poliomyelitis medication, had been significantly impacted by the COVID-19 pandemic. Despite the fact that the polio vaccine had been widely accessible for many years, the pandemic disrupted the regular immunization schedules, which caused a decline in demand for polio vaccines in some areas. In addition, the COVID-19 pandemic had taken focus off of and resources away from other health programmes, such as efforts to eradicate polio. There had been a delay in the elimination of polio as a result of many nations refocusing their resources and health infrastructure on controlling the pandemic.

Latest Trends

"Use of IPV Over OPV to Lessen the Likelihood of Outbreaks of VDPV"

Inactivated polio vaccine (IPV) use is now the favored vaccine type, which is one of the newest trends in the poliomyelitis vaccines industry. Inactivated (killed) oral polio vaccine (IPV) is a form of polio vaccine that is thought to be safer than live attenuated oral polio vaccine (OPV), which contains weakened poliovirus. In order to completely eradicate polio, the World Health Organization (WHO) has been working towards this goal, and IPV is a crucial part of this endeavor. Many nations have switched from OPV to IPV, which is believed to lessen the likelihood of outbreaks of vaccine-derived poliovirus (VDPV). When the vaccine's weakened virus mutates and regains its capacity to spread disease, VDPV, an uncommon but dangerous adverse effect of OPV, may manifest. 

Poliomyelitis Vaccines Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into IPV and OPV

• By Application Analysis

Based on application, the market can be divided into Research & Academic Laboratories, Pharmaceutical & Biotechnology Companies and Others

Driving Factors

"Favorable Government Policies Implemented Fuel the Demand for the Vaccines "

Numerous governments all across the world are putting policies into place and sponsoring initiatives to aid in the fight against polio and boost immunization rates. As an illustration, significant funding for the Global Polio Eradication Initiative (GPEI), a partnership between the WHO, UNICEF, Rotary International, the US Centers for Disease Control and Prevention (CDC), and the Bill and Melinda Gates Foundation, has come from governments, international organizations, and private donors to support polio eradication efforts. This financing fuels the demand for poliomyelitis vaccines by supporting vaccine manufacture, distribution, and immunization programmes in nations where polio is still prevalent or outbreaks occur.

"Increasing Research and Development Spending on Vaccines has Enhanced Market Demand"

The rising demand for vaccinations and the possibility for sizable returns on investment have fueled a major surge in recent years in investment in vaccine research and development. The creation of new, more potent vaccinations as well as advancements in vaccine distribution and manufacturing have resulted from this expenditure. The demand for poliomyelitis vaccines has been boosted by the creation of novel polio vaccine formulations, such as the switch from oral to inactivated polio vaccine in the past few years.

Restraining Factors

"Lack of Raw Materials Needed to Produce the Vaccine is a Significant Restraint on Market Development"

The scarcity of raw materials needed for vaccine manufacture is one of the major constraints limiting the poliomyelitis vaccines market growth. Virus strains are only a few of the raw materials needed to make polio vaccines; yet, these can be scarce or challenging to come by. The short-term availability of immunizations may be hampered by the lengthy and difficult polio vaccine production process. Another barrier to accessing immunizations in low and middle-income nations where polio is still prevalent or outbreaks occur is the high expense of vaccine production and delivery. Although government programmes and initiatives can assist solve this issue, it still poses a considerable barrier for many nations.

Poliomyelitis Vaccines Market Regional Insights

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"High Frequency of Polio Cases are Fueling the Need for the Vaccine in the Asia Pacific Region"

Numerous nations in the Asia Pacific area are still reporting cases of polio, making it one of the regions that has been most negatively impacted by the disease. For instance, in 2020, Afghanistan and Pakistan accounted for the great majority of polio cases that were reported globally. The demand for poliomyelitis medicines in the area is fueled by the high frequency of polio. To promote polio eradication efforts and boost vaccination rates, many Asia Pacific nations have put policies into place and funded programmes. For instance, the Indian government has started a number of programmes to boost immunization rates and increase the country's access to polio vaccines. The demand for poliomyelitis immunizations in the area is being fueled in part by this government assistance. These are the key factors driving the dominance of Asia Pacific in the poliomyelitis vaccines market share.

Key Industry Players

"Key Players Focus on Acquisitions and Alliances to Enhance their Product Offerings "

To increase their market presence and enhance their product offerings, market participants are forging partnerships and alliances. For instance, vaccine producers are collaborating with governmental bodies and international organizations to create and provide polio vaccines in low and middle-income nations. Additionally, market participants use mergers and acquisitions to improve their market positions and broaden their product lines. For instance, Sanofi announced in 2020 that it would purchase Takeda's vaccine division, which includes the manufacturer's line of polio vaccines.

List of Market Players Profiled

• Sanofi (France)
• GSK (U.K.)
• Serum Institute (India)
• Tiantan Biological (China)
• IMBCA (Belgium)
• Panacea Biotec Ltd (India)
• Bio-Med (India)
• Halfkin Bio-Pharmaceuticals (India)

Report Coverage

This report covers the poliomyelitis vaccines market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.