Polio Vaccines Market Outlook to Reach USD 1.4 Billion by 2034, Expanding at a 5.0% CAGR – Latest Report by Transparency Market Research Inc

“The global polio vaccines market, valued at US$ 794.1 Mn in 2023, is projected to grow at a CAGR of 5.0% from 2024 to 2034, reaching an estimated US$ 1.4 Bn by the end of 2034.”

The global polio vaccines market, valued at approximately US$ 794.1 million in 2023, is set to expand at a compound annual growth rate (CAGR) of 5.0% from 2024 through 2034, reaching an estimated US$ 1.4 billion by the end of the forecast period.

Governments worldwide are implementing favorable policies to eradicate polio, with extensive polio eradication programs being executed on a global scale. Although Pakistan and Afghanistan continue to face challenges with polio, adherence to UNICEF guidelines in the rest of the world is driving steady demand for both oral polio vaccine (OPV) and inactivated polio vaccine (IPV). Manufacturers are scaling up production and forging strategic partnerships with local players, particularly in densely populated and developing countries such as India, to support these ambitious eradication initiatives.

Uncover essential discoveries and trends from our Report in this sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86358

Market Scenario

Polio vaccines are available in two primary forms: the oral polio vaccine (OPV), which contains a weakened form of the poliovirus, and the inactivated polio vaccine (IPV), which uses a killed virus and is administered via injection. In the U.S., IPV has been the exclusive vaccine since 2000, while OPV continues to be used in other regions globally. The Centers for Disease Control and Prevention (CDC) recommend a four-dose vaccination schedule, beginning at 2 months of age and continuing through early childhood, to ensure comprehensive protection against polio.

Mass vaccination programs, including national immunization days (NIDs) and targeted “mopping-up” campaigns, have substantially reduced the incidence of polio. Although cases in Pakistan and Afghanistan persist, the number of reported polio cases has dramatically declined over the past decades—from over 50,000 cases in 1980 to just 649 in 2021—thanks to sustained global efforts.

Key Market Drivers and Trends

Conducive Government Policies

Global governments remain committed to polio eradication, launching pulse polio immunization programs and implementing policies to ensure high vaccination coverage. These initiatives are instrumental in reducing polio incidence and are driving the market demand for both OPV and IPV. The World Health Organization (WHO) reports that wild poliovirus type 2 was eliminated in 1999 and type 3 in 2020, leaving wild poliovirus type 1 endemic only in Pakistan and Afghanistan. Such success stories underscore the effectiveness of government-led initiatives in controlling polio outbreaks.

Increase in Polio Eradication Activities

The Global Polio Eradication Initiative and other regional campaigns have intensified efforts to immunize children in high-risk areas, ensuring that over 400 million children receive polio vaccines annually. Continuous vaccination drives, coupled with robust surveillance systems for acute flaccid paralysis (AFP), contribute significantly to market revenue. This relentless focus on eradication is further bolstered by strategic collaborations and technology-driven manufacturing enhancements.

Regional Outlook: North America Leads, with Significant Growth in Asia Pacific

North America dominated the global polio vaccines market in 2023, driven by stringent preventive measures and robust governmental support in the U.S. and Canada. High vaccination coverage in these regions underscores a proactive approach to preventing poliomyelitis.

Asia Pacific also holds a noteworthy market share, as large-scale vaccination campaigns in countries like India continue to boost immunization rates. Despite challenges in regions such as Pakistan and Afghanistan, initiatives in Asia Pacific are expanding vaccine access and strengthening global eradication efforts.

Analysis of Key Players and Industry Developments

Manufacturers in the polio vaccines market are focusing on product innovation and capacity expansion to meet escalating global demand. Leading companies include:

• Sanofi S.A.
• GSK plc
• Bharat Immunologicals and Biologicals Corporation Limited (BIBCOL)
• Serum Institute of India
• Panacea Biotec
• Beijing Tiantan Biological Products Corp
• Bio-Med Healthcare Products Pvt. Ltd.
• Halffkine Bio-Pharmaceuticals
• Sinovac Biotech Ltd.
• Pfizer Inc.

Notable advancements in the industry include:

• June 2024: Sanofi announced a collaboration with Biovac aimed at producing inactivated polio vaccines (IPV) in Africa, expanding global vaccine accessibility.
• January 2024: UNICEF delivered 340,000 doses of oral polio vaccine (OPV) to Ukraine, underscoring the ongoing commitment to international polio eradication efforts.

Gain valuable knowledge with the critical insights in our report – https://www.transparencymarketresearch.com/polio-vaccines-market.html

Market Segmentation and Detailed Analysis

The global polio vaccines market is segmented by type, application, and end-user:

By Type:

• Inactivated Polio Vaccine (IPV)
• Oral Polio Vaccine (OPV)

By Application:

• Public Immunization Programs
• Private Sector Initiatives

By End-user:

• Hospitals & Clinics
• Public Services
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

This segmentation facilitates a comprehensive understanding of market dynamics, competitive pressures, and future opportunities, incorporating both qualitative insights and quantitative assessments, including Porter’s Five Forces Analysis and value chain evaluations.

Unlock In-Depth Insights with This Premium Research Report – https://www.transparencymarketresearch.com/checkout.php?rep_id=86358&ltype=S

Frequently Asked Questions

How big was the global polio vaccines market in 2023?
It was valued at US$ 794.1 Mn in 2023.

How is the polio vaccines market expected to grow during the forecast period?
The market is projected to grow at a CAGR of 5.0% from 2024 to 2034.

What are the key factors driving the demand for polio vaccines?
Conducive government policies and a significant increase in polio eradication activities are the primary drivers.

Which end-user segment held the largest share in 2023?
Hospitals & Clinics held the largest share in 2023.

Which region dominated the global polio vaccines market in 2023?
North America was the dominant region in 2023.

Who are the key polio vaccines industry manufacturers?
Key players include Sanofi S.A., GSK plc, Bharat Immunologicals and Biologicals Corporation Limited (BIBCOL), Serum Institute of India, Panacea Biotec, Beijing Tiantan Biological Products Corp, Bio-Med Healthcare Products Pvt. Ltd., Halffkine Bio-Pharmaceuticals, Sinovac Biotech Ltd., and Pfizer Inc.

Discover More In-Depth Reports from Transparency Market Research –

Knee Cartilage Repair Market

Corporate Wellness Market

Foot Orthotic Insoles Market

Hematology Diagnostics Market

Genetic Testing Services Market

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us:

Transparency Market Research Inc.

CORPORATE HEADQUARTER DOWNTOWN,

1000 N. West Street,

Suite 1200, Wilmington, Delaware 19801 USA

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453