(I-BusinessNews.Com, July 30, 2021 ) Poliomycetes Vaccine in Dragee Candy Market size in 2020 was valued at $1.3 billion, growing at a CAGR of 5.1% during the forecast period 2021-2026. Poliomycetes is a disease caused by the poliovirus and transmitted through water, food or contact with infected person. Poliomycetes affects children under 5 years of age. The symptoms of Poliomycetes are fever, fatigue, vomiting, sore throat. It is an infectious disease that attacks on nervous system of the body which leads to paralysis to several hours. Haemophilus influenza is common bacteria that mostly infect children under 5 age. The poliomycetes vaccine in dragree candy is a live, attenuated virus that causes polio and is used as a polio vaccine for children and it produces humoral immunity that protect against poliomyelitis. Increasing government initiatives for development of polio vaccine coupled with growing awareness about vaccine among the people is major factor driving the growth of the market. Moreover, growing research and development in key players further enhance the overall market demand for Poliomycetes Vaccine in Dragee Candy during the aforesaid period.
Poliomycetes Vaccine in Dragee Candy Market Segment Analysis- By Vaccine Type
Based on the vaccine type, Poliomycetes Vaccine in Dragee Candy Market is segmented into Oral Poliovirus Vaccine (OPV), Inactivated polio vaccine (IPV). The Point of Care Test (POCT) segment is estimated to dominate the market during the period 2021-2026. This can be attributed to convenient and invasive method of polio vaccine. Furthermore, it is more effective and safe as well as it does not require any trained health professional and it produces humoral immunity to prevent from poliomyelitis. The Inactivated polio vaccine (IPV), segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.6% during the period 2021-2026. This is mainly owing to it strengthens the immune system and provides protection from polio and Haemophilus influenzae.
Poliomycetes Vaccine In Dragee Candy Market Segment Analysis- By Application
Based on the end-user, Poliomycetes Vaccine in Dragee Candy Market is segmented into Hospital, Clinics, Medical Centers, others. In 2020, Hospital is estimated to hold major share in the market. This is mainly rising number of hospitals which leads to reduction in the waiting time. Moreover, increasing government initiatives to provide improved care top the patients in hospitals also contributing to the dominance of this segment. Also, medical centers is projected to grow with a CAGR of 3.9% over the period 2021-2026. This is owing to medical centres provides proper vaccination with well trained professional health workers.
Poliomycetes Vaccine In Dragee Candy Market Segment Analysis- By Geography
Asia- Pacific dominated the Poliomycetes Vaccine In Dragee Candy market share accounting for 41% of the market in 2020. This is mainly owing to increasing government initiatives for awareness vaccination. For instance, in 2018, Government of India conducted mass vaccination campaigns against polio to maintain high immunity against polio by using bivalent oral polio vaccine (bOPV). Also,
in India the ministry of health and family welfare is targeting mobile and migratory populations to prevent the re-emergence of polio virus from neighbouring countries such as Nepal, Pakistan and Bangladesh. However, the North America region is projected to be the fastest-growing over the period 2021-2026. This is owing to rising expenditure on healthcare coupled with rising advancement in innovation in vaccination market.
Poliomycetes Vaccine In Dragee Candy Market Drivers
Increasing Government Funding
Increasing government funding by developing countries for polio eradication is driving the growth of Poliomycetes Vaccine In Dragee Candy market. The second largest donor to global polio eradication initiative is the U.S. government and in FY 2020 U.S funded for polio is $237 million from $134 million in FY 2009. Moreover, growing awareness about polio vaccine among the peoples is also set to increase the market growth.
Rising Research and Development
Increase in research and development of advanced technology for Poliomycetes Vaccine In Dragee Candy is also driving the market. For instance, in 2018, Bharat Biotech developed polio vaccine against type I and III vaccine. Also, Bharat Biotech exploring combination vaccines that include the Sabin Inactivated Polio Vaccine (sIPV) for eradication of poliovirus is also set to the growth of Poliomycetes Vaccine In Dragee Candy Market.
Poliomycetes Vaccine In Dragee Candy Market Challenges
Presence of substitute and failure to follow sterile condition which leads to product recall is challenging the market. Along with this in 2018, all batches of bivalent polio vaccine vials manufactured by Bio-Med Ltd. has been recalled by Ministry of Health and Family Welfare of India owing to contamination with type II poliovirus and affected children is also further challenging the growth of the market.
Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the Poliomycetes Vaccine In Dragee Candy market including drastic reduction demand and destruction in supply chain of poliomycetes vaccine owing to lack of visits to healthcare facilities such as hospitals and clinics. Also owing to widespread of coronavirus it affects workforce and staffing issues, procedural prioritisation. These affects Poliomycetes Vaccine In Dragee Candy market by cancellation of scheduled visit for primary care at hospitals and reflecting patients concern about infection.
Poliomycetes Vaccine In Dragee Candy Market Landscape
Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the Poliomycetes Vaccine In Dragee Candy Market. Poliomycetes Vaccine In Dragee Candy top 10 companies are., Gansu Conbest Biotech Co., Ltd., , China National Biotec Group Company Limited, Serum Institute of India Pvt.Ltd, Pfizer, Bharat Biotech,Shenzhen Mellow Hope Pharm Industrial Co. Ltd, GlaxoSmithKline, United Pharma Industries Co., Sanofi SA and Pasteur Institute.
In June 2019, Pfizer Inc. acquired Array Biopharma for $48 per share in cash, for a total enterprise value of approximately $11.4 billion. This acquisition will strengthens Pfizer’s innovative biopharmaceutical business.
In 2020, Asia-Pacific dominates the Poliomycetes Vaccine in Dragee Candy Market owing to rising government initiatives.
Increasing innovation and development in Poliomycetes Vaccine in Dragee Candy across the globe is driving the market growth of Poliomycetes Vaccine in Dragee Candy.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Poliomycetes Vaccine in Dragee Candy Market report.
Presence of substitute and failure to follow sterile condition leads to product recall challenge the growth of the market.
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