Overview and Scope
Influenza vaccines refer to flu vaccines designed to provide immunity against influenza viruses. These are quadrivalent vaccines, designed to protect against four different flu viruses, including two influenza A viruses and two influenza B viruses.
Sizing and Forecast
The influenza vaccines market size has grown strongly in recent years. It will grow from $6.91 billion in 2023 to $7.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to pandemic preparedness, public health initiatives, vaccine effectiveness studies, healthcare professional recommendations, global influenza surveillance.
The influenza vaccines market size is expected to see strong growth in the next few years. It will grow to $10.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to climate and environmental factors, healthcare accessibility improvement, emergence of new influenza strains, innovation in adjuvants and delivery systems, rising healthcare expenditure . Major trends in the forecast period include wider use of mrna vaccine technology, pediatric immunization focus, seasonal influenza control measures, enhanced vaccination coverage in developing nations, tailored vaccination strategies.
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Segmentation & Regional Insights
The influenza vaccines market covered in this report is segmented –
1) By Vaccine Type: Inactivated, Live Attenuated
2) By Valency: Quadrivalent, Trivalent
3) By Route Of Administration: Injection, Nasal Spray
4) By Age Group: Pediatric, Adult
5) By Distribution Channel: Hospitals And Pharmacies, Government And Institutional Supply, Other Distribution Channels
North America was the largest region in the influenza vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the influenza vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising incidences of seasonal influenza are expected to propel the growth of the influenza vaccine market going forward. Seasonal influenza refers to a respiratory illness caused by influenza viruses that typically circulate and cause infections during specific times of the year, usually in the colder months. This shift has resulted from antigenic drift, population susceptibility, environmental factors, incomplete vaccine coverage, and lack of universal vaccination. Influenza vaccines help in reducing the incidences of seasonal influenza by providing immunization against the circulating strains of the virus. For instance, in October 2022, according to Central Drugs Standard Control Organization, an India-based national regulatory body for cosmetics and pharmaceuticals, the overall burden of influenza for 2021-2022 is estimated as nine million flu illnesses, 100,000 flu-related hospitalizations, 4 million flu-related medical visits, and 5,000 flu deaths. Therefore, the rising incidences of seasons of influenza are driving the growth of the influenza vaccines market.
Key Industry Players
Major companies operating in the influenza vaccines market report are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi-Aventis LLC., AstraZeneca PLC, GlaxoSmithKline plc., Serum Institute of India Private Limited, Takeda Pharmaceutical Company Limited, Moderna Inc., Viatris Inc., CSL Limited, Seqirus Inc., Daiichi Sankyo Company Limited, China National Pharmaceutical Group Corporation, Shanghai Fosun Pharmaceutical Group Co. Ltd., Mitsubishi Tanabe Pharma Corporation, Shionogi & Co. Ltd., Liaoning Cheng Da Biotechnology Co. Ltd., Novavax AB, Sinovac Biotech Co. Ltd., Green Cross Corporation, Emergent BioSolutions Inc., Walvax Biotechnology Co. Ltd., Hualan Biological Engineering Inc., Valneva SE, Bharat Biotech International Limited, Vaxess Technologies Inc., Osivax, Gamma Vaccines Pty. Ltd.
The influenza vaccines market report table of contents includes:
1. Executive Summary
2. Influenza Vaccines Market Characteristics
3. Influenza Vaccines Market Trends And Strategies
4. Influenza Vaccines Market – Macro Economic Scenario
5. Global Influenza Vaccines Market Size and Growth
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31. Influenza Vaccines Market Other Major And Innovative Companies
32. Global Influenza Vaccines Market Competitive Benchmarking
33. Global Influenza Vaccines Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Influenza Vaccines Market
35. Influenza Vaccines Market Future Outlook and Potential Analysis
36.Appendix
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