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Live Attenuated Polio Vaccine Market Size Projected To Reach 2.71 Billion By 2034 With A Cagr Of 7.9%
Live Attenuated Polio Vaccine
What Is the Projected Growth of the Live Attenuated Polio Vaccine Market?
In recent years, there has been a significant increase in the size of the live attenuated polio vaccine market. Its growth is projected to rise from $1.85 billion in 2024 to $2.00 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. Factors that led to this growth in the historic period include mass vaccination campaigns, the surfacing of vaccine-derived poliovirus worries, government-led immunization initiatives, increased public consciousness and knowledge, and the availability and affordability of vaccines.
Expectations are high for a significant expansion of the live attenuated polio vaccine market size in the coming years, with predictions placing its value at $2.71 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.9%. The predicted growth for the forecast period can be credited to developments in vaccine stability and longevity, re-emergence of polio instances in disputed regions, dwindling donor interest in eradication initiatives, the broadening of standard immunization programs, and escalating research and development for safer strains of the live attenuated vaccine. Key trends projected for the forecast period include the rise of vaccine-derived poliovirus, the evolution of the oral polio vaccine, advancements in vaccine formulation technology, the integration of digital technology, and collaborations between public and private sectors.
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What Are the Different Live Attenuated Polio Vaccine Market Segments?
The live attenuated polio vaccine market covered in this report is segmented -
1) By Vaccine Type: Monovalent, Bivalent, Trivalent
2) By Administration Route: Oral Administration, Intramuscular Injection, Subcutaneous Injection
3) By Age Group: Infants (0-1 years), Children (1-5 years), Adults (Above 5 years)
4) By End-User: Hospitals, Clinics, Public Health Agencies, Other End-Users
Subsegments:
1) Monovalent: mOPV1 For Serotype 1
2) Bivalent: Type 1, Type 3
3) Trivalent: Poliovirus Type 1, Poliovirus Type 2, Poliovirus Type 3
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What Are the Primary Drivers Shaping the Live Attenuated Polio Vaccine Market?
The burgeoning of vaccination initiatives is anticipated to stimulate the progress of the live attenuated polio vaccine market. These initiatives, planned by governmental bodies, health organizations, and similar institutions, aim to distribute vaccines to populations for preventing the transmission of contagious diseases. The growth of immunization programs is chiefly attributed to the heightened global realization of the need for disease prevention and robust backing from governments, international health bodies, and funding agencies. The programs bolster the live attenuated polio vaccine (LAPV) by assuring extensive dispersion, secure management, and comprehensive coverage, all contributing to herd immunity, preventing virus transmission, and facilitating worldwide polio eradication. For instance, the Centers for Disease Control and Prevention, a national public health institution based in the US, reported in October 2023, that the global coverage for the first dose of the diphtheria-tetanus-pertussis (DTP) vaccine had an uptick from 86% to 89% between 2021 and 2022. Thus, the magnification of immunization programs is fuelling the growth of the live attenuated polio vaccine market.
Which Companies Are Leading in the Live Attenuated Polio Vaccine Market?
Major companies operating in the live attenuated polio vaccine market are Sanofi Pasteur, GlaxoSmithKline plc, LG Chem Ltd., Serum Institute of India Pvt. Ltd., Biological E. Limited, Indian Immunologicals Limited, Sinovac Biotech Ltd., Shenzhen Kangtai Biological Products Co. Ltd., Vabiotech, Emergent BioSolutions Inc., Valneva SE, Bio Farma, PT Bio Farm, Bilthoven Bio, Panacea Biotec, Haffkine Biopharmaceutical, Panacea Biotec Ltd., Zydus Cadila, Liaoning Cheng Da Biotechnology Co.Ltd, Bharat Biotech International Limited
What Live Attenuated Polio Vaccine Market Trends Are Gaining Traction Across Different Segments?
Companies that play a significant role in the live attenuated polio vaccine market are striving to obtain regulatory permissions, thereby ensuring their vaccines adhere to global health guidelines in terms of safety and effectiveness. Such permissions are essentially formal approvals by governmental health authorities or regulatory entities which sanction a product's marketing, selling, and usage in a specific region or country. For instance, in July 2024, Biological E, a firm based in India that specializes in pharmaceuticals and biologics, was accredited by the World Health Organization (WHO) for its innovative oral polio vaccine type 2 (nOPV2). This updated live oral vaccine, which is more advanced than traditional oral polio vaccines, is aimed at tackling circulating vaccine-derived poliovirus type 2 (cVDPV2) outbreaks more effectively. The nOPV2 is strategically developed with superior genetic stability to minimize the chance of the vaccine virus returning to a virulent form, which posed a risk with previous vaccines.
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What Are the Top Revenue-Generating Geographies in the Live Attenuated Polio Vaccine Market?
North America was the largest region in the live attenuated polio vaccine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the live attenuated polio vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Live Attenuated Polio Vaccine Market?
2. What is the CAGR expected in the Live Attenuated Polio Vaccine Market?
3. What Are the Key Innovations Transforming the Live Attenuated Polio Vaccine Industry?
4. Which Region Is Leading the Live Attenuated Polio Vaccine Market?
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