USD 5.25 Billion
Report ID: SQSG35B2006 | Region: Global | Published Date: October, 2022 | Pages: 172
The Global Influenza Vaccine Market size was valued at USD 5.25 Billion in 2021, and it is expected to reach a value of USD 8.48 Billion by 2028, at a CAGR of 7.10% over the forecast period (2022 - 2028).
The influenza virus circulates continue indefinitely, causing regional epidemics and outbreaks that have resulted in thousands of deaths. For instance, according to data from the Centers for Disease Control and Prevention (CDC), more than 13 million flu cases have been recorded in the 2019-20 timeframe. The changing nature of the virus necessitates an annual change in the vaccine strain to match the influenza virus strain around the world. During the forecasted period, the increasing prevalence of influenza epidemics and seasonal outbreaks is expected to boost product sales.
In the current market scenario, there are numerous licensed seasonal influenza vaccines recommended by the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and other governmental organizations to help fight the disease. Governments have focused on encouraging people to get vaccinated as soon as possible to provide the best possible protection during flu season. Furthermore, pharmaceutical companies are constantly confronted with new challenges in developing a suitable vaccine against a specific strain. As a result, rising demand for effective flu vaccines is expected to drive the global market.
Global Market Size
USD 5.25 Billion
To get more reports on the above market click here to Buy The Report
The Global Influenza Vaccine Market is segmented based on type, valency, Age-group, distribution channel, and region. Based on type it is categorized into Inactivated and Live Attenuated. Based on valency it is categorized into Quadrivalent and Trivalent. Based on age group it is categorized into Pediatric and Adults. Based on distribution channel it is categorized into hospital & retail pharmacies, government, and others. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Type
In 2022, the inactivated segment held the most dominant share of the global influenza vaccine market. The dominance is due to higher sales associated with demand for inactivated vaccines. Industrialists are also focused on developing inactivated vaccines, which are standardized based on the specific virus strain. This feature of the vaccines aids in reducing the flu in less time and reverting positive effects. Currently, inactivated vaccines such as Seqirus' AFLURIA FLUCELVAX, GlaxoSmithKline's FLUARIX and FLULAVAL, and Sanofi's FLUZONE are recommended. The rising demand, combined with the high prevalence of influenza, is driving the segment's highest CAGR during the forecast period. Live attenuated vaccines, on the other hand, are expected to grow at a slower rate due to numerous challenges.
Analysis by Distribution channel
In 2021, hospital and retail pharmacies generated the most revenue among all distribution channel segment. This dominant position is attributable to the fact that vaccination is generally preferred and accomplished in smaller institutions. Furthermore, the large supply of vaccines from hospitals is expected to generate a high market value in the coming years. As a result, hospital and retail pharmacies are expected to have the highest CAGR during the forecast period.
On the other hand, Government suppliers are expected to hold a significant share because governmental organizations, through their vaccination programmes, help immunise individuals globally. Furthermore, international health organizations are acquiring a large quantity of vaccination doses and supplies at a low or no cost to all of the regions covered by these organizations. The growing vaccination programs will further help in generating comparatively higher market value in the projected period.
To get detailed analysis on other segments, Request For Sample Report
In 2021, North America dominated the influenza vaccine market and is anticipated to maintain its dominance throughout the forecast period. Rapid product launches, combined with technologically advanced vaccine manufacturing systems across the region, are expected to drive market growth in the region. Furthermore, rising influenza prevalence and high vaccine sales are expected to fuel market growth in North America. Furthermore, rising government funding, the presence of strong key players, and sophisticated vaccination centres and hospitals will all contribute to the market's stellar growth.
In the coming years, Asia-Pacific is expected to grow at an exponential rate. Because of the region's growing population in countries such as China and India, the demand for effective vaccines, which leads to higher sales, is expected to drive market growth. Furthermore, a proactive government initiative in the supply of flu vaccines across the region, combined with improved influenza control strategies, is expected to drive influenza market growth across the region. For example, in September 2020, Japan's health ministry has begun preparing 31.2 million flu vaccines, 7% more than the previous year, in order to immunize its population against influenza.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Companies are trying to expand their product pipelines by submitting new molecule applications or expanding the application of current molecules. Other strategies, including as mergers and acquisitions, industry-academia partnership to commercialize more marketed molecules, or sequencing approaches, will also have an impact on current market trends. The research also outlines company-specific product development strategies, market consolidation initiatives, and analyses of their individual strengths, weaknesses, opportunities, and threats.
Sanofi, a global leader in the healthcare industry, dominates the influenza vaccine market. Sanofi has a comprehensive vaccine portfolio that includes quadrivalent and trivalent vaccines. By constantly upgrading its technologies, the company focuses on delivering effective vaccines. Other companies, such as CSL Limited, GlaxoSmithKline plc, and AstraZeneca, have effective products that are marketed globally. Furthermore, factors such as increasing efforts to reduce disease burden and rising vaccination rates are the primary focus of market participants.
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, one of the key factors driving the market growth is an increase in government support and surveillance regarding influenza vaccination on the national and global levels to monitor the supply, distribution, and administration of flu vaccines. Furthermore, increased investment by leading market players globally, as well as increased government funding, have facilitated the launch of therapeutically effective vaccines, propelling the influenza vaccine market growth.
|Market size value in 2021||USD 5.25 Billion|
|Market size value in 2028||USD 8.48 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Influenza Vaccine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Influenza Vaccine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Influenza Vaccine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Influenza Vaccine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.