Research Nester has released a report titled “Global Polio Vaccines Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global polio vaccine market in terms of market segmentation by product type, by type, by distribution channel, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global polio vaccine market is segmented by product type into inactivated poliovirus vaccine (IPV) and oral poliovirus vaccine (OPV), out of which, oral poliovirus vaccine segment is anticipated to hold largest market share on account of lower price of OPV as compared to IPV, which is increasing its affordability amongst lower and middle income nations, along with growing utilization of OPV by various nations around the globe. According to World Health Organization (WHO), Purchase of OPV as per total annual dosage grew from 11,489,000 numbers in 2013 to 1,720,098,395 numbers in 2017.
The global polio vaccine market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Rising awareness for vaccination against poliomyelitis, growing need for vaccinating children among nations, growing annual dosage of polio vaccines coupled with rising investments for polio vaccines development, all of these factors are estimated to promote growth of the global polio vaccine market throughout the forecast period.
Regionally, the global polio vaccine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia-Pacific is expected to have largest market share on the back of rising population in the region, which is raising the demand for immunization towards poliovirus by vaccinations, coupled with being the largest region for consumption of polio vaccines. In the statistics provided by WHO vaccines purchase report, annual dosage of South East Asia region peaked 1,099,141,085 numbers from 100,000 numbers in-between 2014-17.
Rising Awareness For Vaccination Against Poliomyelitis
Growing concerns for sudden outbreaks of poliomyelitis around the globe is raising the demand for implementation of vaccination operations. Various organizations, such as the World Health Organization (WHO) and the United Nations Children’s Fund (UNICEF) are helping the economies in raising awareness about the dangers associated with the infection of the virus and the benefits of poliovirus vaccination to children. Furthermore, with growing population around the globe, it is expected that more vaccinations will be needed for the new born.
Additionally, lowering funding activities for Global Polio Eradication Initiative (GPEI) is anticipated to expand the market penetration and competition of key players in the market. All of these factors are contributing significantly towards the growth of the market.
However, the concern for socio-cultural issues in few lower income nations, which is affecting the planned operations of vaccination processes, and the threats associated with vaccine contamination, all of these factors are expected to operate as key restraints to the growth of the global polio vaccine market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global polio vaccine market, which includes company profiling of 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. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global polio vaccine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.