(MENAFN- America News Hour)
- Oral poliovirus vaccine (OPV) segment is anticipated to hold largest market share.
- Asia-Pacific is expected to have largest market share.
- Concerns observed in few lower income nations for socio-cultural issues and other factors may hamper growth.
Dec 08, 2021 (AmericaNewsHour) — Poliovirus vaccines are the vaccines used for the prevention of poliomyelitis disease. The market is observing vibrant growth on account of rising awareness amongst people about the deadly effect of the disease, growing number of vaccinations operations and rise in investments for the development of different types of polio vaccines.
Furthermore, to prevent the deadly disease of poliomyelitis, nations around the globe, along with organizations such as World Health Organization (WHO) and the United Nations Children's Fund (UNICEF) have initiated the Global Polio Eradication Initiative (GPEI), which is also anticipated to raise the demand for polio vaccines market.
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The global polio vaccine market is anticipated to record robust CAGR over the forecast period, i.e. 2019-2027. The market is segmented by product type into inactivated poliovirus vaccine (IPV) and oral poliovirus vaccine (OPV). Among these segments, oral poliovirus vaccine (OPV) segment is anticipated to hold largest market share, owing to lower price of OPV as compared to IPV, which is raising the affordability of OPV, especially in lower and middle income nations around the globe. The purchase of OPV as per total annual dosage reached 1,720,098,395 numbers in 2017 from 11,489,000 numbers in 2013, as per the statistics provided by World Health Organization (WHO).
Geographically, the global polio vaccine market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Asia-Pacific is expected to have largest market share on the back of increasing population in the region, growing consumption of polio vaccines and presence of lower and middle income nations, who can afford subsidized poliovirus vaccines from WHO and the United Nations Children's Fund (UNICEF). The annual dosage of poliovirus vaccines in South East Asia region was recorded the highest amongst all the regions with 1,099,141,085 numbers in 2017 from 100,000 numbers in 2014.
However, concerns observed in few lower income nations for socio-cultural issues and other factors, such as spread rumors, political issues and others, coupled with threats of vaccine contamination, which might pose a massive threat to the human population, are estimated to act as a barrier to the growth of the market during the forecast period.
This report also studies existing competitive scenario of some of the key players of the global polio vaccine market, which includes profiling:
- GlaxoSmithKline plc. (LON: GSK)
- Sanofi Pasteur Limited (NSE: SANOFI)
- Astellas Pharma Inc. (TYO: 4503)
- Pfizer Inc. (NYSE: PFE)
- Novartis AG (SWX: NOVN)
- F. Hoffmann-La Roche Ltd (SWX: ROG)
- Merck & Co., Inc. (NYSE: MRK)
- Abbvie Inc. (NYSE: ABBV)
- Bharat Biotech and Serum Institute of India Pvt. Ltd.
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