Influenza Vaccine Market size is set to grow by USD 2.93 billion from 2023-2027, increasing prevalence and incidence of influenza boost the market, Technavio

16.04.24 16:24 Uhr

NEW YORK, April 16, 2024 /PRNewswire/ -- The global influenza vaccine market  size is estimated to grow by USD 2933.88 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  6.89%  during the forecast period.  The global influenza vaccine market is experiencing growth due to rising influenza cases and hospitalizations, particularly in the US. According to CDC data, 39-56 million people had flu from Oct 2019 to Mar 2020, leading to 400,000-730,000 hospitalizations. Severe cases, children, and regional epidemics are driving demand for influenza vaccines, including combination, mRNA, swine flu, and inactivated types. Vaccines are available at hospitals & pharmacies, and include quadrivalent, adult, and pediatric options. Influenza viruses continually evolve, requiring updated vaccine strains for seasonal influenza vaccines. 

Technavio has announced its latest market research report titled Global Influenza Vaccine Market 2023-2027

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Influenza Vaccine Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017 - 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.89%

Market growth 2023-2027

USD 2933.88 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.67

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 54%

Key countries

US, Canada, UK, China, and India

Key companies profiled

Altimmune Inc., AstraZeneca PLC, Baxter International Inc., BioDiem Ltd, BiondVax Pharmaceuticals Ltd., CSL Ltd., Emergent BioSolutions Inc., F. Hoffmann La Roche Ltd., FluGen Inc., GlaxoSmithKline Plc, Mitsubishi Chemical Group Corp., Novavax Inc., Otsuka Holdings Co. Ltd., Pfizer Inc., Sanofi SA, Shijiazhuang Yiling Pharmaceutical Co Ltd., SK Chemicals Co. Ltd., Vaccitech Plc, Vaxart Inc., and Vaxine Pty Ltd.

Segment Overview 

This influenza vaccine market report extensively covers market segmentation by Distribution Channel (Hospitals and pharmacies, Government and institutional, Others) Type (Live attenuated influenza vaccines, Recombinant influenza vaccines) Geography (North America, Europe, Asia, Rest of World (ROW))

Market segmentation by Distribution Channel

The Influenza Vaccine Market is experiencing significant growth due to the increasing number of severe influenza cases, particularly among children. The Global Influenza Program continues to prioritize the development of new vaccines, including combination vaccines and mRNA vaccines, to address regional epidemics and reduce deaths from flu cases. Several approved influenza vaccines are available, such as FluLaval Quadrivalent, Fluzone, and Fluad. These vaccines, available at hospitals and pharmacies, come in various forms, including flu shots and nasal spray vaccines. Both inactivated and live attenuated vaccines are used, with quadrivalent and trivalent vaccines available for both pediatric and adult populations. Seasonal influenza vaccines are crucial in preventing the spread of the influenza virus, which causes infectious diseases like swine flu. The availability of vaccine strains that match the current virus strain is essential in ensuring effective immune response. With several new vaccines in Phase III clinical trials, the market for influenza vaccines is expected to continue its high growth trajectory.

Geography Overview

The Influenza Vaccine Market in North America is dominated by severe influenza cases, particularly among children. The Global Influenza Program, spearheaded by organizations like the Pan American Health Organization (PAHO), plays a crucial role in shaping the market through recommended immunization schedules. Combination vaccines, such as BOOSTRIX, INFANRIX, Pediarix, BEXSERO, MENVEO, and influenza, are major contributors to the market. The prevalence of infectious diseases, including influenza, has been increasing significantly in developed countries, with the US experiencing high levels of flu cases from November to February each year. Seasonal influenza vaccines, including inactivated, quadrivalent, trivalent, pediatric, and adult vaccines, are available at hospitals and retail pharmacies. The market also includes mRNA vaccines, such as those used for swine flu and flu shots, which have gained popularity due to their ability to stimulate a strong immune response. Regional epidemics and deaths caused by influenza virus strains continue to drive the demand for vaccines, with vaccine strains updated annually to address seasonal changes. 

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  • Influenza poses a serious health risk, leading to hospitalization and fatalities. Annual vaccination is crucial for prevention, as influenza viruses evolve and vaccine-induced immunity wanes. Vaccines, including inactivated, live attenuated, quadrivalent, and trivalent types, are available at hospitals and pharmacies. Pediatric and combination vaccines, such as mRNA and Swine flu, are also options. Vaccine strains align with seasonal influenza infections, reducing deaths and cases.
  • The influenza vaccine market encounters diagnostic challenges due to influenza's symptom overlap with other respiratory infections. Factors like severe cases, children, and regional epidemics necessitate accurate diagnosis for effective prevention and treatment. Combination vaccines, mRNA vaccines, and pediatric vaccines contribute to the market. Diagnosis relies on clinical symptoms, vaccine strains, and availability of inactivated, quadrivalent, and trivalent vaccines in hospitals and pharmacies.

Insights on Market Drivers, trends, & Challenges, historic period(2017 - 2021) and forecast period(2023-2027)- Request a sample report!

Research Analysis

The Influenza Vaccine Market encompasses various types of vaccines, including inactivated, live attenuated, quadrivalent, trivalent, combination, and mRNA vaccines. These vaccines are essential in mitigating the impact of regional epidemics caused by the Influenza virus. The Global Influenza Program plays a crucial role in monitoring the virus and ensuring the availability of effective vaccine strains. Seasonal influenza vaccines, such as the flu shot and nasal spray vaccines, are administered annually to children and adults to prevent severe influenza cases and related deaths. Hospital & retail pharmacies serve as vital distribution channels for these vaccines. The vaccine market also includes Swine flu vaccines, designed to protect against specific strains of the influenza virus. The immune response generated by these vaccines is crucial in reducing the number of flu cases and associated fatalities. Vaccine manufacturers continually innovate, developing new vaccine strains and delivery methods to improve vaccine efficacy and accessibility. The market for influenza vaccines is dynamic, with ongoing research and development efforts aimed at addressing the evolving nature of the influenza virus.

Market Research Overview

The Influenza Vaccine Market plays a crucial role in preventing seasonal and pandemic influenza cases. The market is driven by the increasing prevalence of influenza, rising awareness about vaccination, and government initiatives to promote immunization. The market comprises various types of influenza vaccines, including trivalent inactivated vaccines (TIVs), live attenuated influenza vaccines (LAIVs), and recombinant influenza vaccines. These vaccines are distributed through various channels, including hospitals, clinics, pharmacies, and government health programs. The market is also influenced by factors such as regulatory requirements, pricing pressures, and competition from other vaccines and treatments. Despite challenges, the Influenza Vaccine Market continues to expand, driven by the need to protect populations from the harmful effects of influenza.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Influenza Vaccine Market 2023-2027

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SOURCE Technavio