April 25, 2024

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Influenza Vaccines Market Future Demand Competitive Situation and Emerging Trends with Historic Forecast 2022-2028

The influenza vaccines market was valued at US$ 7,478.53 million in 2021 and it is expected to grow with a CAGR of 7.4% from 2022 to 2028. Influenza is a contagious respiratory infection caused due to influenza virus. Influenza is noticed by fever, cough, muscle and joint pain, headache, and severe weakness. Illness due to influenza varies from mild to severe, sometimes leading to death. According to the World Health Organization (WHO), 2018, influenza cases related hospitalization ranges from 3-5 million cases for severe illness, whereas deaths related to influenza are about 290,000 to 650,000. Vaccines are adviced for the prevention of influenza infections. The rapid spread of influenza virus epidemics worldwide propels demands for developing an efficient influenza vaccine. A strong product pipeline is a key factor driving the market’s growth during the forecast period.

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The influenza vaccines market is analyzed on the basis of vaccine type, virus type, technology, route of administration, target group, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The influenza vaccines market report offers insights and in-depth analysis of the market, emphasizing market trends, technological advancements, market dynamics, and the competitive analysis of the leading market players.

Companies operating in the influenza vaccines market witnessed a positive impact during the pandemic as global campaigns promoted people to get vaccinated against the influenza virus. For instance, in the US, the National Forum for Heart Disease & Stroke Prevention initiated the ‘Move with the Mayor Flu Vaccination Campaign’ where the mayors are protecting their communities from the dual threat of COVID-19 and flu by encouraging people to get vaccinated for flu. Similarly, to reduce the risk of severe illness that could arise from co-infection with SARS-CoV-2 and influenza, the Public Health Agency of Canada (PHAC) released Guidance on the Delivery of Influenza Vaccination in the Presence of COVID-19 to support the delivery of influenza vaccination programs during the COVID-19 pandemic.

Based on vaccine type, the influenza vaccines market is segmented into quadrivalent vaccines and trivalent vaccines. In 2021, the quadrivalent vaccines segment held a larger market share; however, the same segment is estimated to grow at a faster CAGR during the forecast period. The quadrivalent influenza (flu) vaccine protects against 4 types of influenza viruses, including 2 influenza A viruses and 2 influenza B viruses. All flu vaccines in the US during the 2021-2022 season have been quadrivalent.

Based on target group, the market can be segmented into infants, children, adults, and elderly. Different vaccines are approved for different age groups. The quadrivalent flu vaccine can be given to children under 6 months of age. Flucelvax Quadrivalent is now approved for people 6 months of age and older. Market players are receiving new product approvals and launching for market expansion. For instance, In Feb 2020, Abbott launched a quadrivalent vaccine for influenza in India.

Moderna, Inc.; SEQIRUS; Sanofi; GlaxoSmithKline plc.; Hualan Biological Engineering Inc.; Emergent BioSolutions Inc.; Mitsubishi Chemical Group Corporation; Serum Institute of India Pvt. Ltd; MYLAN NV; and AstraZeneca are the leading companies operating in the influenza vaccines market.

The report segments the influenza vaccines market as follows:

Based on vaccine type, the influenza vaccines market is segmented into quadrivalent vaccines and trivalent vaccines. Based on virus type, the market is segmented into influenza virus type A and influenza virus type B. Based on technology, the market is segmented into egg-based and cell-based. Based on route of administration, the market is segmented into injection and nasal spray. Based on target group, the market can be segmented into infants, children, adults, and elderly. By geography, the global market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Reason to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Influenza Vaccines market
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Influenza Vaccines market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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