Europe Polio Vaccine Market

Europe Polio Vaccine Market Size (2023 To 2028)

The polio vaccine market in Europe is expected to be worth USD 6.13 billion by 2023 from USD 4.75 billion in 2022, growing at a CAGR of 5.24% from 2023 to 2028.

The high incidence of polio in Europe in the recent past and increasing initiatives from European governments are propelling the European polio vaccine market growth. Inactivated Polio Vaccine (IPV) and Oral Polio Vaccine (OPV) were developed to prevent the poliovirus. IPV consists of dead polioviruses delivered through injection, whereas OPV has live polioviruses and is dispensed through the mouth. Even though it helped prevent the virus, the poliovirus strains in OPV caused vaccine-derived polioviruses (cVDPV). According to the Centers for Disease Control and Prevention(CDC),  cVDPV caused paralysis in 1,335 people globally. Among the three types of cVDPV, type 2 is more prevalent and is found to reduce the immunity required to fight against type 2 wild poliovirus; hence, novel Oral Polio Vaccine 2 (nOPV2), which was developed recently has type 2 poliovirus strains that will help in preventing cVDPV2. Since the new development of vaccines will be more preventive, the vaccination rate will increase, which will drive the market growth of poliovirus vaccines.  The Centers for Disease Control and Prevention says that children should get the poliovirus vaccine dose at two months, four months, between 6 and 18 months old, and between 1 and 6 years old. According to Eurostat statistics, 4.1 million babies were born in Europe in 2020. The increase in birth rate will increase the number of children that need to be vaccinated; hence, it will, in turn, boost the poliovirus vaccine market in Europe.

In addition, the growing number of advancements in medical research and technology and increasing awareness among the European population regarding the importance of vaccination fuel the growth rate of the European polio vaccine market.

On the other hand, the stringent regulatory environment for polio vaccines and situations such as anti-vaccine movements in Europe are expected to hamper the market’s growth rate in Europe during the forecast period. The Inactivated Polio Vaccine can cause side effects such as hives, breathing issues, itching, swelling (on the face, throat, lips, tongue, etc.), weakness, fever (shortly after receiving the first dose), and redness in the injected area. Moreover, the oral polio vaccine also has side effects. After receiving the first dose of the vaccine, if these symptoms persist in a person’s body, the administration of further doses should be avoided. These side effects can restrict people from getting vaccinated and hinder polio vaccine market growth.

This research report on the Europe polio vaccines market has been segmented and sub-segmented into the following categories.

By Vaccine Type:

• Oral vaccine
• Inactivated vaccine
• Others

By Application:

• Private
• Public

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Europe captured a considerable share of the global market in 2022 and is expected to grow at a notable CAGR during the forecast period. According to a population survey conducted by Statista in 2020, Turkey has 19.2 million children under the age of 15 and has the largest child population. Successively, France and Germany hold the most children, with a population of 12 million and 11.4 million, respectively. Children must receive IPV or OPV at an appropriate age to prevent polio. Since Turkey has the largest child population, the vaccination rate will be higher in this country; therefore, the growth rate of the poliovirus vaccine market will increase during the forecast period.

Awareness about poliovirus can help in preventing the disease. If people learn about the cause and effect of a disease, they are more likely to undergo preventive measures when they experience the symptoms. A lack of knowledge about a disease might lead a patient to an incurable condition; therefore, bringing awareness can help in early diagnosis and treatment. Since the awareness about poliovirus vaccine is increasing among the residents of European countries, people are taking the initiative to get their vaccine dose done; therefore, more awareness about the disease can help boost the market growth of poliovirus vaccines.

The European Regional Commission for Certification of Poliomyelitis Eradication (RCC) claims that WHO European regions have been polio-free for two decades now. According to the data collected by RCC, the polio-free Europe has led to a decrease in the vaccination rate of 1% by 2020, WHO says. The decrease in vaccination rate will also decrease immunization. Moreover, due to the existence of the vaccine-derived poliovirus in other parts of the world, RCC has suggested every country strengthen disease prevention plans, vaccination programs, and disease monitoring plans. Therefore, the rules put forth by the government can help increase the vaccination rate. Since Turkey has the largest child population, it can help increase the market growth of poliovirus vaccines.

KEY MARKET PLAYERS:

Sanofi Pasteur Limited, Panacea Biotec Ltd, Astellas Pharma Inc., Pfizer Inc., Novartis AG, Merck & Co., Inc., AbbVie Inc., Bharat Biotech and Serum Institute of India Pvt. Ltd are some of the noteworthy companies in the European polio vaccine market.