INACTIVATED POLIO AND RABIES VACCINES MARKET ANALYSIS

The global inactivated polio and rabies vaccines market is estimated to be valued at US$ 1,160.5 Million in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030).

Analysts’ Views on Global Inactivated Polio And Rabies Vaccines Market:

Increasing research and development activities for inactivated polio and rabies vaccines and increased awareness about polio and rabies vaccine among population is expected to boost the  growth of global inactivated polio and rabies vaccines market.

Figure 1. Global Inactivated Polio And Rabies Vaccines Market Share (%), by Product Type, 2023

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Global Inactivated Polio And Rabies Vaccines Market – Driver

Increasing incidences of rabies in the population

Increasing incidences of rabies in the population is expected to spur the global inactivated polio and rabies vaccines market growth over the forecast period. Despite the availability of vaccines for over 100 years, dog rabies has been found to be common in all regions with inadequate public health resources and limited access to preventive treatment. North America also have few diagnostic facilities for life-threatening diseases and surveillance of rabies occurrence among the animals is almost zero. For instance, in September 2021, Gavi is an international organisation, the Vaccine Alliance included human rabies vaccines, which would support scaling up rabies Postexposure prophylaxis (PEP) in Gavi-eligible countries. Gavi’s reported the rabies was checked and found in dog, bat, raccoon, and fox were found to be the carriers of rabies and rabies causes around 59,000 deaths world-wide every year.

Increasing awareness about polio among the population

Increasing awareness about polio among the population is expected to drive the global inactivated polio and rabies vaccines market growth over the forecast period. For instance, According to WHO, 2021, world-wide incidences of polio have been decreased by 99%, since 1988 and only 20 cases of children suffering from polio were found in 2020. it has also been estimated that failure to eradicate polio, over the span of ten years, can result in 200,000 polio patients globally. Furthermore, active participation of government for increasing awareness among the population through social media platforms, newspapers, and announcements is expected to reduce number of polio cases world-wide.  

Figure 2. Global Inactivated Polio And Rabies Vaccines Market Value (US$ Million), by Region, 2023

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Global Inactivated Polio And Rabies Vaccines Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global inactivated polio and rabies vaccines market over the forecast period. North America is estimated to hold 47.3% of the market share. The growing prevalence of Rabies disease and polio disease directly impacts the increased demand for the global inactivated polio and rabies vaccines market. For instance, on January 19, 2023, according to the World Health Organization, per year around, 35,172 human deaths and 21,476 human deaths occur due to rabies in North America. The cases of patients suffering from polio in Asia Pacific are reducing because of increasing awareness regarding the prevention of polio and rabies among the population and free immunization camps, which are organized by the government for immunizing the population against polio and rabies. Thus, North America is also projected to spur the global inactivated polio and rabies vaccines market growth over the forecast period.

Global Inactivated Polio And Rabies Vaccines Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global Inactivated polio and rabies vaccines market. For instance, According to article published in Elsevier journal In April 2022, Reported COVID-19 vaccine dose sparing to improve vaccine equity and pandemic preparedness. New vaccines had developed at an unprecedented pace. The development process had accelerated in multiple ways by running the different clinical testing phases in parallel, rolling reviews by the regulatory authorities, and starting large-scale production before regulatory approval is helpful for vaccine market.

Global Inactivated Polio And Rabies Vaccines Market Segmentation:

The global inactivated polio and rabies vaccines market report is segmented into By Vaccine, By Method of Inactivation, By Age Group, By Distribution Channel, and By Region.

By Vaccine, the market is segmented into Inactivated Polio Vaccine and  Inactivated Rabies Vaccine. Out of which, the Inactivated polio vaccine segment is expected to hold a dominant position in the global inactivated polio and rabies vaccines market during the forecast period and this is attributed to the technological advancements in the field of vaccines market.

By Method of Inactivation the market is segmented into Solvent Detergent Method, Radiation Method, pH Concentration, Heat Inactivation, and Others. Out of which, the Solvent detergent method segment is expected to hold a dominant position in the inactivated polio and rabies vaccines market during the forecast period and this is attributed to the increasing awareness of vaccines.

By Age Group, the market is segmented into Pediatrics and Adults. Out of which, the Pediatrics segment is expected to hold a dominant position in the inactivated polio and rabies vaccines market during the forecast period and this is attributed to the increasing prevalence of polio in pediatrics.

Among all the segmentations, the vaccine segment has the highest potential due to the increasing government initiatives to combat polio this is expected to drive the growth of the segment over the forecast period. For Instance, in September 2022, the Government of Ghana with the support of the World Health Organization (WHO) and other partners of the Global Polio Eradication Initiative (GPEI), rolled out a polio vaccination campaign, targeting children under five years across all 16 regions of Ghana. This follows the confirmation of circulating vaccine-derived poliovirus type 2 (cVDPV2) in the country from two acute flaccid paralysis (AFP) cases; one each from North Gonja District in Savanna Region and West Mamprusi in North East Region.

Global Inactivated Polio And Rabies Vaccines Market Cross Sectional Analysis:

Rising incidence of polio diseases in emerging economies is also expected to boost demand for inactivated polio and rabies vaccine technologies in the North America region. For instance, According to article published in Frontiers Media S.A. in July 2020, Reported the development, licensing, and implementation of vaccines as part of large, systematic immunization programs started to address health inequities that existed in North America. The high number of Polio disease cases is expected to drive the growth of the studied market in the North America.

Global Inactivated Polio And Rabies Vaccines Market: Key Developments

In April 2022, Cadila Pharmaceuticals is an Indian multinational pharmaceutical company based in India, launched world’s first three-dose anti-rabies vaccine. Its recombinant nano particle-based rabies G protein vaccine.

In September 2021, Serum Institute of India Pvt. Ltd Pharmaceutical company in India, had start supplying Inactivated Polio Vaccine (IPV) to the Union government for the Universal Immunization Programme.Union health ministry had placed a purchase order with Serum Institute of India for 54 lakh doses of IPV vaccine.

In june 2022, Bharat Biotech ltd. Is a biotechnology company, introduced new variant of INDIRAB is prepared using the strain obtained from Centers for Disease Control and Prevention,USA. A cell culture-derived vaccine, it is produced in Vero Cells, inactivated, and chromatographically purified.

Global Inactivated Polio And Rabies Vaccines Market: Key Trends

Inactivated polio vaccine are expected to witness significant growth of market

The inactivated polio vaccine (IPV) segment is expected to witness significant growth due to the increasing number of government initiatives for polio eradication and routine immunization programs. For instance, in July 2021, GlaxoSmithKline plc is a pharmaceutical and biotechnology company headquarters in London, England and Vir Biotechnology, Inc. is a commercial-stage immunology company. announced that had signed a Memorandum of Understanding with the European Commission to provide up to 220,000 doses of Inactivated polio vaccine.

Global Inactivated Polio And Rabies Vaccines Market: Restraint

Unavailability of the vaccines

Unavailability of the vaccines is expected to hinder the growth of the market. Due to COVID-19 pandemic the supply chain is disrupted and manufactures are facing = challenges, many countries are facing a shortage of vaccines. This has led to a delay in the distribution of vaccines, which in turn has hindered the growth of the market. Despite these challenges, the market is expected to recover once the vaccine supply chain is stabilized. Private Companies are increasing the production of vaccines  and Governments are taking intiative to provide the vaccines.

Global Inactivated Polio And Rabies Vaccines Market - Key Players

Major players operating in the global Inactivated polio and rabies vaccines market include Bharat Biotech., BIO-MED, Serum Institute of India Pvt. Ltd., Kedrion Biopharma Inc. GlaxoSmithKline plc., Bilthoven Biologicals, Merck & Co., Inc., Pfizer Inc, Cadila Healthcare Limited, Sanofi Pasteur India Pvt Ltd, Chiron Behring Vaccines Private Ltd ,Zoetis Inc., Elanco.,Boehringer Ingelheim International GmbH,Indian Immunologicals Ltd, Wyeth pharmaceuticals, Berna Biotech Ltd., Novartis Vaccines Ltd and Medimmune LLC.

Global Inactivated Polio And Rabies Vaccines Market– Defination

A vaccine consists of a biological preparation that upon injection, stimulates the immune system to secrete antibodies against the agent which is used to prepare the vaccine. A vaccine is typically manufactured by using the disease-causing microorganism, which is weakened or killed to form a vaccine. Inactivated vaccines are the type of vaccine, which are produced by growing the micro-organism (bacteria or viruses) on the culture medium, then inactivating them with heat and/or chemicals (formalin is mostly used for inactivation). Therefore, the components of the inactivated vaccine cannot replicate.