IPV (inactivated polio vaccine) vaccines are essential immunizations that use inactivated strains of the poliovirus to stimulate the body's immune system against polio disease. IPV vaccines are given via injection intramuscularly or subcutaneously and are estimated to be over 90% effective. They induce antibodies against the three strains of wild poliovirus and provide protection against paralytic poliomyelitis.

The Global IPV Vaccines Market is estimated to be valued at US$ 199.6 Mn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the IPV Vaccines market are Hill-Rom Holdings, Inc.; Steris Plc.; Stryker Corp.; Getinge AB; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Mizuho Corporation (Mizuho OSI, Inc.); Skytron LLC; Alvo Medical; Allengers Medical Systems Ltd. The rising awareness about polio disease prevention and government immunization programs in developing regions are driving the demand for IPV vaccines. Leading manufacturers are expanding their production facilities globally to ensure availability and quality supply of IPV vaccines worldwide.

Market key trends

One of the key trends in the IPV Vaccines Market Size is the increasing vaccination programs in emerging economies like India, China and Africa. These regions have a high risk of wild poliovirus transmission due to poor sanitation and lack of clean drinking water. As a result, governments and global health organizations are promoting IPV vaccination programs for infants, children and adults to eliminate polio completely from these areas. Another major trend is the development of novel delivery methods for IPV vaccines. Researchers are investigating technologies like intradermal route and microneedle patches to administer IPV vaccines in a simple, pain-free manner. This can help in improving vaccination coverage rates globally."

Porter’s Analysis
Threat of new entrants: High capital requirements and economies of scale limit competition in the market.
Bargaining power of buyers: Large buyers can negotiate lower prices but their needs are usually highly specialized.
Bargaining power of suppliers: Suppliers of raw materials have some bargaining power as the industry requires specialized components and expertise.
Threat of new substitutes: Substitutes are limited as medical equipment needs to meet strict regulatory standards.
Competitive rivalry: Competition is intense as the top players continuously invest in innovation and differentiation.

Geographical Regions
North America accounts for the largest share of the IPV vaccines market in terms of value. This is attributed to factors such as the improving reimbursement scenario in the region. Additionally, the presence of major vaccine manufacturing companies along with strong support from the government and private organizations for immunization programs will continue to drive market growth during the forecast period.

The Asia Pacific region is poised to witness the highest growth over the forecast period owing to growing healthcare expenditure, rising awareness regarding immunization, infrastructure developments and expansion of vaccination programs in countries like India, China, and Japan. Government initiatives and foreign investments are supporting the growth of the pharmaceutical and biotechnology industries in emerging Asian economies thereby providing opportunities for IPV vaccine manufacturers to expand their presence.

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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)