Global Inactivated Polio And Rabies Vaccines Market, by Vaccine ( Inactivated Polio Vaccines and Inactivated Rabies Vaccines), By Method of Inactivation (Solvent Detergent Method, Radiation Method, pH Concentration, Heat Inactivation, and Others), By Age Group (Pediatrics and Adults), by Distribution Channel (Government and Private) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The advent of inactivated polio and rabies vaccines new launches of vaccination campaign is expected to provide lucrative growth opportunities for players.The adoption of new variant in the Vaccines helps in better workflow, accuracy, prevention, and diagnosis of the disease. For instance, in December 2022, Sudan is a country in Northeast Africa, the Federal Ministry of Health (FMOH) in Sudan, in collaboration with the World Health Organization (WHO) and the United Nations Children's Fund (UNICEF) launched a catch-up vaccination campaign to vaccinate children against polio and yellow fever.
Global Inactivated Polio And Rabies Vaccines – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global inactivated polio and rabies vaccines market. While the pandemic has increased public awareness about the importance of vaccines, it has also disrupted the supply chain for many vaccines, including polio and rabies. For instance, according to an article published in the U.S National Library of Medicine, in June 2022, Reported an immune response to SARS-CoV-2 RdRp is induced in adults receiving a booster inoculation of IPV. Polio Vaccine (IPV) for SARS-CoV-2 and Prevention of Coronavirus Disease (COVID-19)
Global Inactivated Polio And Rabies Vaccines Market: Key Developments
For instance, in January 2022, World Organisation for Animal Health, launched a call for tender to renew the suppliers of its Rabies Vaccine Bank after transparent and competitive procurement.
In December 2022, Everest Medicines is a clinical-stage biopharmaceutical company in china Announced new mRNA Rabies Vaccine Program and Achievement of Preclinical Proof-of-Concept Milestone
In December 2022, Providence Therapeutics Holdings Inc. is a private biotechnology company in Canada announced rabies post-exposure prophylactic was developed in partnership with Everest medicine is a clinical-stage biopharmaceutical company.
Browse 36 Market Data Tables and 32 Figures spread through 179 Pages and in-depth TOC on “Global Inactivated Polio And Rabies Vaccines Market”- Forecast to 2030, Global Inactivated Polio And Rabies Vaccines Market, by Vaccine (Inactivated Polio Vaccines and Inactivated Rabies Vaccines), By Method of Inactivation (Solvent Detergent Method, Radiation Method, pH Concentration, Heat Inactivation, and Others), By Age Group (Pediatrics and and Adults), by distribution channel (Government and Private), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Inactivated Polio And Rabies Vaccines Market:
- The global inactivated polio and rabies vaccines market is expected to exhibit a CAGR of 5.4% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global inactivated polio and rabies vaccines market.For instance, in June 2022, Ceva Santé Animal, an animal health company based in France, acquired the Canada-based oral rabies vaccine manufacturer Artemis Technologies, Inc. to expand its oral rabies vaccine portfolio.
- Among distribution channel, the Private segment is expected to grow in the global inactivated polio and rabies vaccines market over the forecast period growing burden of polio and rabies related to the disease creates the need for diagnostics and vaccines. thus propels the growth of the market.For instance, in May 2022, Advisory Committee on Immunization Practices is a committee within the United States Centers for Disease Control and Prevention vaccine, recommended to private Companies use of modified preexposure prophylaxis vaccination schedule to prevent human rabies.
- Among region, North America is expected to be the dominant region in the global inactivated polio and rabies vaccines market, owing to the increasing new players entering in market.For instance, in October 2022, United Nations International Children's Emergency Fund confirmed US$ 2.6 billion in funding toward the Global Polio Eradication Initiative’s (GPEI) 2022-2026 Strategy to end polio at a pledging moment co-hosted by Germany’s Federal Ministry for Economic Cooperation and Development (BMZ) at the World Health Summit in Berlin.
- Major players operating in the global inactivated polio and rabies vaccines market are Bharat , 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.
