Influenza Vaccines Market: Segmentation, Industry trends and Development to 2027
Global Influenza Vaccines Industryt is expected to register a CAGR of 6.53% to reach USD 7,828.3 Million by 2025. Influenza viruses are one of the major infectious disease threats to the human population. Vaccination is the major public health measure for the prevention of influenza virus infection. Influenza vaccines are also known as flu shots or flu jabs. Currently available seasonal influenza vaccines are either trivalent or quadrivalent in composition.
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Influenza is an infection of the upper airway caused by an influenza virus, which is commonly known as flu. The most common symptoms include high fever, sore throat, headache, coughing, and sneezing. In 2018, 69,007 people were diagnosed with influenza viruses, out of which 67,733 were diagnosed with the influenza A virus and 1,274 with the influenza B virus, respectively. Moreover, influenza has resulted in between 9.3 million to 49.0 million cases of illnesses since 2010 in the US alone. This surge in influenza epidemics raises the demand for influenza vaccines, thereby contributing to the growth of the global influenza vaccines market. Moreover, increasing public & private initiatives for research & development of influenza vaccine, growing awareness about influenza vaccines, and increasing product launches & approvals
The Global Influenza Vaccines Market has been segmented by influenza Type, Manufacturing Technology, Vaccine Type, and End User.
The market, based on influenza type, has been bifurcated into seasonal and zoonotic. Based on manufacturing technology, the global influenza vaccines market has been bifurcated into egg-based, cell culture-based, and recombinant-based. On the basis of vaccine type, the global influenza vaccines market has been bifurcated into trivalent vaccines and quadrivalent vaccines. Based on end user, the global influenza vaccines market has been classified as hospitals and clinics, research organizations and academic institutions, and others.
The Global Influenza Vaccines Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is likely to dominate the global influenza vaccines market. This can be attributed to the rising prevalence of influenza in the region. Each year on average, 5% to 20% of the US population suffers from influenza. Furthermore, there are approximately 31.4 million outpatient visits due to influenza and more than 200,000 hospitalizations each year. This surge in influenza would support market growth in the American region.
The European market for influenza vaccines is expected to be the second largest during the review period. The high prevalence of seasonal influenza and the rise in product launches by key players is expected to boost the growth of the regional market. Moreover, the influenza vaccine uptake has increased to 72% from 2018 to 2019, from 70.5% from 2016 to 2017. This rising demand for influenza vaccines is anticipated to drive the market growth in this region.
The market in Asia-Pacific is expected to register a significant growth rate during the forecast period owing to the rising investment by major companies to enhance their foothold in the regional market. For instance, in April 2017, Serum Institute of India Pvt Ltd acquired the Czech arm of the US-based, firm Nanotherapeutics for about USD 78 million (EUR 72 million) as a part of its growth strategy.
The market in the Middle East & Africa is likely to exhibit the lowest growth owing to the limited access and availability of treatment facilities. The developing healthcare infrastructure, and continuously increasing demand for vaccination are factors expected to drive the growth of the market in the region.
The Prominent Players in the Global Influenza Vaccines Market are AstraZeneca (UK), GlaxoSmithKline PLC (UK), Sanofi (France), Abbott Laboratories (US), Seqirus (UK), Hualan Biological Engineering Inc. (China), Mitsubishi Tanabe Pharma (Japan), Serum Institute of India Pvt. Ltd (India), and Mylan NV (US).
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