USD 6.81 billion
Influenza Vaccine Market Size, Share, Growth Analysis, By Type(Inactivated, and Live Attenuated), By Indication(Quadrivalent, Trivalent), By Route of administration(Injection, and Nasal Spray), By Age group(Pediatric, and Adult), By Distribution Channel(Hospital & Pharmacies, Government & Institutional Supply, Others), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35B2144 |
Region:
Global |
Published Date: September, 2024
Pages:
200
|Tables:
114
|Figures:
77
Influenza Vaccine Market Insights
Influenza Vaccine Market size was valued at USD 7.91 Billion in 2023 and is poised to grow from USD 8.46 Billion in 2024 to USD 14.52 Billion by 2032, growing at a CAGR of 6.98% during the forecast period (2025-2032).
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.
US Influenza Vaccine Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Inactivated
Fastest Growth
Inactivated
Growth Rate
6.83% CAGR
Global Influenza Vaccines Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Influenza Vaccine Market Segmental Analysis
Global Influenza Vaccine Market is segmented on the basis of type, indication, route of administration, age group, distribution channel, and region. By type, market is segmented into inactivated, and live attenuated. By indication, market is segmented into quadrivalent, and trivalent. By route od administration, injection, and nasal spray. By age group, market is segmented into pediatric, and adult. By distribution channel, market is segmented into hospital & pharmacies, government & institutional supply, and other. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Influenza Vaccine Market 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.
Influenza Vaccine Market 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.
Global Influenza Vaccines Market By Type, 2021 (%)
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Influenza Vaccine Market Regional Insights
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.
Global Influenza Vaccines Market By Geography, 2021-2028
- Largest
- Fastest
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Influenza Vaccine Market Dynamics
Influenza Vaccine Market Driver
- The increasing government support and surveillance for influenza vaccination is one of the critical and significant factors driving the global market. Surveillance at the national and global levels is required to monitor the supply, distribution, and administration of flu vaccines. WHO, in collaboration with other governments, constantly monitors demand and conducts immunization programmes around the world to reduce the vaccine's requirement in the region. For instance, in year 2021, the Australia government has already vaccinated approximately 5 million people through this immunization programme, and more than 20 million vaccines are still available.
- Organizations such as the World Health Organization's Global Influenza Surveillance and Response System (GISRS), the Centers for Disease Control and Prevention (CDC), and health ministries from various countries are assisting in the tracking of chronic diseases. According to SQ analysis, Asian countries have begun to roll out early influenza vaccination programmes with the goal of reducing flu and COVID-19 cases at the same time. As a result, active government support is required to boost the market's growth rate.
Influenza Vaccine Market Restraint
- Novel vaccine development is a lengthy process that typically takes 10 to 15 years to complete, in addition to establishing its safety, quality, and efficacy. Long timelines are caused by three major factors: vaccine development complexities, globalised clinical development, and divergent regulatory requirements. Regulatory requirements for clinical trials differ significantly across countries. As a result, significant delays in the development of novel vaccines may occur. Furthermore, data from various countries/regions is frequently requested for regulatory approval purposes. However, many countries have different labelling requirements, as well as compressed timelines, which complicates the process of conducting clinical trials around the world. Therefore, impact of the stringent regulatory requirements coupled with longer duration for conductance of clinical trial is anticipated to hamper the product development.
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Influenza Vaccine Market Competitive Landscape
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.
Influenza Vaccine Market Top Players Company Profiles
- GSK plc (U.K.)
- Pfizer Inc. (U.S.)
- Vaxess Technologies Inc. (U.S.)
- Merck & Co., Inc. (U.S.)
- Viatris Inc. (U.S.)
- OSIVAX (France)
- AstraZeneca (U.K.)
- SINOVAC (China)
- CSL Limited (Australia)
- Emergent BioSolutions Inc. (U.S.)
- Emergex Vaccines (U.K.)
- Sanofi (France)
- BIKEN Co., Ltd. (Japan)
- Abbott (U.S.)
- Altimmune Inc. (U.S.)
- Baxter International Inc. (U.S.)
- BioDiem Ltd (Australia)
- BiondVax Pharmaceuticals Ltd. (Israel)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- FluGen Inc. (U.S.)
- Mitsubishi Chemical Group Corp. (Japan)
- Novavax Inc. (U.S.)
- Otsuka Holdings Co. Ltd. (Japan)
- Shijiazhuang Yiling Pharmaceutical Co., Ltd. (China)
- SK Chemicals Co., Ltd. (South Korea)
Influenza Vaccine Market Recent Developments
- In June 2022, Sanofi restructured its immuno-oncology collaboration with Regeneron Pharmaceuticals, Inc. Regeneron will have worldwide exclusive licensing rights to Libtayo under the modified and restated license and partnership agreement.
- In May 2022, GSK plc announced that it has entered into a final agreement to acquire Affinivax, Inc. (Affinivax), a clinical-stage biopharmaceutical business located in Cambridge, Boston, Massachusetts, for a $2.1 billion upfront payment and up to $1.2 billion in possible development milestones.
- In May 2021, During the pandemic, Australia launched a national flu vaccination programme to reduce the population's infection rate. As a result, seasonal vaccines are now available in Australia through community pharmacies and general practitioners.
- In March 2021, Sanofi announced USD 736.9 million investment in its Canadian vaccine facility to increase supply of influenza vaccines in Canada, the United States, and Europe. With the goal of increasing supply in these countries, this facility will provide additional antigen and filling capacity for Sanofi's Fluzone High-Dose Quadrivalent influenza vaccine.
Influenza Vaccine Key Market Trends
- The coronavirus pandemic had an unforeseen impact on routine immunization programmes and campaigns in both developing and developed countries. However, flu vaccination rates have increased significantly during the pandemic due to factors such as increased pressure from health experts/health departments, as well as the extension/expansion of various government programmes that provide free flu vaccination.
- Furthermore, growing public awareness about the increased risk of getting infected with COVID-19 if the flu weakens the immune system is another factor contributing to flu vaccine uptake. For instance, the Centers for Disease Control and Prevention (CDC) reported that as of May, over 189.4 million flu vaccines for the 2020-2021 flu season had been distributed in the United States, compared to 174 million in the 2019-2020 season. In addition, according to the most recent study published in 2020, researchers in Brazil stated that a flu shot could reduce mortality rates by 20% when administrated prior to initiation of COVID-19 and by approximately 27% when administered after the onset of COVID-19. As a result, the above- mentioned factors are likely to drive demand over the forecast year.
- The increasing prevalence of influenza disease around the world has prompted governments to implement various strategies to increase flu vaccine uptake in their respective countries. One of the most important strategies in the inclusion of the vaccine in the immunization programmes of countries focusing on emerging and low-income economies. Nowadays, increased public awareness of infectious diseases has resulted in more timely vaccinations in developing countries. Developing countries have revised their immunization programmes and made flu vaccination mandatory for all age groups.
Influenza Vaccine Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.39 billion |
| Market size value in 2031 | USD 13.57 billion |
| Growth Rate | 6.98% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Influenza Vaccine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Influenza Vaccine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Influenza Vaccine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
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