A new report added to the online inventory of Wise Guys Reports (WGR) reveals that the global oral polio vaccines (OPV) market is set to capture a compound annual growth rate (CAGR) of 5.3% between 2019 and 2025. The global Polio Vaccine market which is worth USD 1210 million in 2018 is expected to reach USD 1830 million by the end of 2025.
Polio vaccines are the vaccines that are used to prevent poliomyelitis, Polio is a highly contagious disease which is caused by a human enterovirus of the Picornaviridae family. Polio can result in paralysis or even death of individuals as well. But with the growing initiatives by the government side, the occurrence of polio is decreasing globally.
Presently, two types of polio vaccination are available in the market including OPV and IPV. The health benefit offered by oral polio vaccines (OPV) is also viewed as a prominent market driver. These vaccines are useful in reducing the chances of polio to a much greater extent. However, lack of effective cold chain logistic and proper vaccine management system is affecting the market size.
Global Segmental Analysis
The segmental analysis of the market has been conducted based on type, application and region. The manufacturers that are covered in this report include Sanofi, GSK, Bibcol, Serum Institute, Tiantan Biological etc.
By type, the market has been segmented into Trivalent OPV and Bivalent OPV.
Based on application, the market has been segmented into public and private.
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Global Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Rest of the World (RoW). In North America, countries such as the U.S. and Canada are covered. In Europe, countries such as the UK and Germany are covered. In APAC, countries such as Japan, China and India are covered. In South America, countries such as Brazil, Argentina and Mexico are covered.
In terms of revenue, America accounts for the largest share of the global oral polio vaccines (OPV) market. Polio has been eliminated from the entire US, thanks to widespread polio vaccination in the country and the impactful government initiatives as well. Meanwhile, APAC region also emerges as an attractive market for global oral polio vaccines. Countries like India, has seen a steep decline in the number of polio cases across the country. The decrease in polio incidence in India is mainly due to the Indian government’s commitment to polio eradication. Though Polio still exists but the number of polio cases have decreased over the last so many years. Also, easy availability of polio vaccines in the countries such as Japan, China and South Korea is partly driving the market growth in the region.
The report also throws limelight on Oral Polio Vaccines (OPV) product scope, market overview, market opportunities and challenges as well.
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