Global Inactivated Polio and Rabies Vaccines Market is Expected to Grow USD 1420.32 Million by 2027
A new research report published by Fior Markets with the title Inactivated Polio and Rabies Vaccines Market, by Vaccine (Inactivated Rabies Vaccine and Inactivated Polio Vaccine), Method of Inactivation (Radiation Method, Solvent Detergent Method, Heat Inactivation, pH Concentration, and Others), Age Group, Distribution Channel, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global inactivated polio and rabies vaccines market is expected to grow from USD 968.24 million in 2019 to USD 1420.32 million by 2027, at a CAGR of 5% during the forecast period 2020-2027. North America is expected to dominate the market with the largest market size. The factors attributed to the growth are rising investments in research and development activities for the development of vaccines. Also, oral polio vaccines have been eliminated in the USA w.e.f. the year 2000, leading to a rise in demand for IPV. The Asia-Pacific market is expected to register the highest growth rate during the forecast period. The polio eradication drives carried out in the region is the major contributor to high demand and market growth. The increase in number of incidences of rabies in the region is resulting in rising awareness about vaccination of stray dogs for prevention of the disease. Due to the high demand for both IPV and IRV, the production for both the vaccines have increased in the region.
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The leading players of the market include BIO-MED, Bharat Biotech., Serum Institute of India Pvt. Ltd., GlaxoSmithKline plc., Kedrion Biopharma Inc., Sanofi Pasteur SA, Bilthoven Biologicals, Pfizer Inc., and Merck & Co., Inc. The producers are focusing on research and development activities for the formulation of advanced and more efficient vaccines than IPV and IRV. Sanofi Pasteur SA provides a vaccine known as IPOL that is a blend of three types of poliovirus giving immunity to fight them all.
This study delivers a comprehensive analysis of types of vaccine, method of inactivation, age group, distribution channel, and regions. On the basis of vaccine, the market is divided into inactivated polio vaccine and inactivated rabies vaccine. The incidences of polio are decreasing worldwide with extensive measures taken by governments. Rabies cases still need to be controlled, especially in the developing and low-income countries by immunizing stray dogs. On the basis of the method of inactivation, the market is divided into radiation method, solvent detergent method, heat inactivation, pH concentration, and others. On the basis of age group, two sub-segments exist that are paediatrics and adults. On the basis of the distribution channel, the market can be divided into government and private sector. Since vaccination is a matter of public health and welfare, the government sector is majorly involved in it.
The rise in the number of approvals by various governments and regulatory authorities regarding the use of inactivated vaccines is the primary driver for market growth. The surge in the number of cases being infected by rabies across the globe is another factor contributing to the growth of the market. With the rise in literacy rate and spread of social media, people are increasingly becoming aware of the poliovirus. Thus, there is an increase in inactivated polio vaccination in the population.
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