The IPV Vaccines Market Is Estimated To Witness High Growth Owing...

The IPV Vaccines Market Is Estimated To Witness High Growth Owing To Increasing Government Initiatives And Growing Disease Burden

Posted 2023-11-01 09:03:23

The IPV vaccines market is estimated to be valued at US$ 174 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period of 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Inactivated poliovirus vaccines (IPV) are vaccines made from inactivated (killed) poliovirus. The inactivated viruses cannot cause polio. Three forms of polio virus (types 1, 2, and 3) exist and must all be present in order for the polio vaccine to provide full protection from disease. IPV vaccines offer protection against paralytic polio and are given by injection, usually in the leg or arm, depending on the patient's age. IPV vaccines play a crucial role in eradicating polio across the globe through mass immunization programs.

Market Dynamics:
The increasing government initiatives for polio eradication programs are expected to augment the growth of the IPV vaccines market over the forecast period. For instance, the Global Polio Eradication Initiative (GPEI), which is spearheaded by national governments, World Health Organization (WHO), Rotary International, the US Centers for Disease Control and Prevention (CDC), UNICEF, and Bill & Melinda Gates Foundation are focusing on increasing the usage of IPV vaccines. Furthermore, the growing disease burden of poliomyelitis across developing and underdeveloped nations is also fueling the demand for IPV vaccines.