Asia Pacific Polio Vaccine Market Size By Type (Inactivated Polio Vaccine (IPV) and Oral Polio Vaccine (OPV)), By Application (Public, Private), By Geographic Scope And Forecast
Asia Pacific Polio Vaccine Market Size By Type (Inactivated Polio Vaccine (IPV) and Oral Polio Vaccine (OPV)), By Application (Public, Private), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Asia Pacific Polio Vaccine Market Size And Forecast
Asia Pacific Polio Vaccine Market size was valued at USD 368.8 million in 2022 and is projected to reach USD 507.3 million by 2030, growing at a CAGR of 4.17% from 2024 to 2030.
The Asia-Pacific region has been actively engaged in efforts to combat polio through vaccination campaigns and initiatives. These efforts are part of the broader global goal to eradicate polio and prevent its resurgence. These factors will propel the demand for polio vaccine in the regional market. The Asia Pacific report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Asia Pacific Polio Vaccine Market Definition
The polio vaccine is a critical medical innovation developed to combat poliomyelitis, commonly referred to as polio. Polio is a highly contagious viral disease caused by the poliovirus, which primarily targets the nervous system, potentially resulting in paralysis, muscle weakness, and even death. The consequences of polio can be devastating, particularly for young children, making the development and distribution of vaccines a crucial public health initiative.
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Asia Pacific Polio Vaccine Market Overview
It's pretty cool how everyone's starting to understand the importance of staying healthy before getting sick, and it's really making a difference in the Polio vaccine market in Asia Pacific. You see, governments and groups like the Global Polio Eradication Initiative (GPEI) are pushing hard for things like vaccines and getting rid of diseases altogether. For example, GPEI's Polio eradication strategy 2022-2026 really shows they're serious about public health. They're setting goals and timelines for wiping out diseases we can prevent with vaccines, like polio. Having these clear plans makes vaccination campaigns seem more trustworthy, and it gets people feeling good about bacterial vaccines. Plus, a lot of Asia Pacific's developing countries have tons of folks living way out in the sticks, where it's tough to get to a doctor. So, focusing on getting the word out to those who might not know much about healthcare, especially in those rural areas, makes sure everyone's included in getting the message about staying healthy and getting vaccinated. All this helps spread awareness about how important vaccines are for stopping diseases, which in turn means more demand for polio vaccines.
The escalating demand for polio vaccine is closely intertwined with several factors, including the burgeoning global population and the consistent rate of childbirths. In some regions, particularly conflict zones or remote areas, healthcare workers face challenges in accessing communities to administer vaccines. Limited infrastructure and difficult terrain can hinder vaccination campaigns. Misinformation, lack of awareness, and vaccine hesitancy contribute to low vaccine acceptance rates in certain communities. Rumors and misconceptions about vaccines can deter parents from getting their children immunized. These are some of the factors that are hindering the growth of the polio vaccine market in the region.
Asia Pacific Polio Vaccine MarketSegmentation Analysis
Asia Pacific Polio Vaccine Market is segmented based on Type, Application, And Geography.
Based on Type, the market is segmented into Inactivated Polio Vaccine (IPV) and Oral Polio Vaccine (OPV). The oral polio vaccine segment will have highest market share in segment held the highest market share in the Asia Pacific polio vaccine market in the year 2022. The oral polio vaccine uses strains that are help to produce antibodies to counter wild or naturally occurring polio virus among children. Also, the easy availability and ease in consumption is a positive factor. This is augmenting the growth of the Oral Polio Vaccine segment.
Asia Pacific Polio Vaccine Market, By Application
• Public• Private
Based on Application, the market is segmented into public & private. The public segment will have the highest market share in the assessment timeline. Public agencies and governments in the Asia-Pacific region have been actively involved in polio vaccination campaigns to eradicate the disease. Many countries in the region have integrated polio vaccines into their routine immunization schedules. Governments and health agencies also focus on monitoring for potential polio cases and conducting surveillance to quickly detect and respond to any outbreaks. These factors will propel the market share for the public segment in the assessment timeline.
Asia Pacific Polio Vaccine Market, By Geography
• China• India• Japan• Rest of Asia Pacific
On the basis of Geography, the Asia Pacific Polio Vaccine market is classified into China, India, Japan, and the Rest of Asia Pacific. China will hold the highest market share in the Asia Pacific Polio Vaccine market in the year 2022. China has a history of successful vaccination campaigns, driven by strong government commitment, partnerships with international organizations, and community health worker programs. The countries expanding healthcare infrastructure, government initiatives, and collaborations with international organizations have contributed to successful polio eradication efforts. This will lead to a growing share of the country in the assessment timeline.
Key Players
Looking for the lowdown on the Asia Pacific Polio Vaccine Market? Our study gives you the inside scoop, especially on the Asia Pacific region. We're talking about the big names in the game, like Sanofi S.A., GSK, Serum Institute, Bharat Biotech, Novartis International AG, Sinovac Biotech, Panacea Biotec Ltd., Haffkine Bio-Pharmaceutical Corporation Ltd., Merck & Co., Inc., Bio-Med (P) Limited, among other. We dig deep into these key players, with our analysts serving up details on their financial health, what products they're pushing, how their products stack up, and a full SWOT analysis. Plus, we break down the competition, showing you who holds the most market share, their game plans, the latest happenings, and how they all rank in Asia Pacific.
Key Developments
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In August 2023, Novartis International AG announced that the company had acquired Chinook Therapeutics, Inc., a biopharmaceutical company. This will help the company to increase its market presence globally.
In June 2022, GSK announced that it will accelerate its Research & and development activities, and invest around 1 billion euros in the development of vaccines and medicines for various infectious diseases.
In March 2021, Sanofi S.A. announced that it will invest more than 600 million euros to develop new vaccines at its manufacturing facility in Canada. This will help the company to broaden its product offering and product portfolio.
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