IPV VACCINES MARKET ANALYSIS

Ipv Vaccines MarketSize and Trends

The global IPV vaccines market is estimated to be valued at USD 199.6 Mn in 2024 and is expected to exhibit a CAGR of 8.5% during the forecast period (2024-2031).

Figure 1. Global IPV Vaccines Market Value (USD Mn), by Region, 2024

Global IPV Vaccines Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The shutdown disrupted the supply, distribution, and manufacturing of medical supplies globally. Moreover, due to social distancing, the footfall in clinics and health institutions has fallen by more than 70% during this pandemic, which has led to decrease in the number of surgical procedures, clinical trials, research and development activities and others, which has negatively impacted the market growth.

Vaccine hesitancy has been considered a problem for polio eradication in past for Pakistan and Afghanistan. The COVID-19 vaccines had made a widespread awareness regarding lifesaving effects of the vaccines, and this effected on the public awareness in polio endemic countries (Gabon, Ghana, Guinea, Liberia, Nigeria). Especially in the tropics there is need for booster doses of polio vaccine. In routine immunizations, there is need to implement GPEIs, for the oral polio vaccines, which can help in reducing the polio cases by more than 90%. To protect the lives of children, the COVID-19 vaccination centers remain ideal to increase the awareness of polio vaccines.