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 2024-2031

Global Influenza Vaccine Market size was valued at USD 7.39 billion in 2022 and is poised to grow from USD 7.91 billion in 2023 to USD 13.57 billion by 2031, growing at a CAGR of 6.98% in the forecast period (2024-2031).

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. '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)'

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.

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.

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.