Global Influenza Vaccine Market 2024

PORTLAND, OREGON, UNITED STATES, March 27, 2024 /EINPresswire.com/ -- The global influenza vaccine market has witnessed significant growth, driven by increased government support and surveillance for vaccination programs, both nationally and globally. According to a report by Allied Market Research, the market generated $5.02 billion in 2020 and is projected to reach $10.12 billion by 2030, with a compound annual growth rate (CAGR) of 7.2% from 2021 to 2030. The report provides insights into the market dynamics, including restraints, key drivers, opportunities, and their impact analysis.

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The COVID-19 pandemic has had both negative and positive impacts on the influenza vaccine market:

Negative Impacts:

Reduced Vaccination Rates: Initially, public health measures and fear of COVID-19 exposure in healthcare settings led to a decline in influenza vaccination rates.

Disruptions in Vaccine Supply and Distribution: Global supply chain disruptions and resource allocation towards COVID-19 vaccines temporarily affected influenza vaccine production and distribution.

Misinformation and Vaccine Hesitancy: Misinformation and vaccine hesitancy surrounding COVID-19 spilled over to the influenza vaccine, deterring some individuals from getting vaccinated.

Positive Impacts:

Increased Awareness of Respiratory Illness Prevention: The pandemic heightened public awareness of preventing respiratory illnesses like influenza, potentially leading to higher vaccination rates in the long term.

Focus on Multi-Pathogen Prevention: The threat of co-infections with COVID-19 and influenza highlighted the importance of multi-pathogen prevention strategies, benefiting both vaccine markets.

Innovative Delivery Strategies: The pandemic accelerated the adoption of alternative vaccine delivery methods, improving access to influenza vaccination for vulnerable populations.

Key Market Segments:

Vaccine Type: Quadrivalent segment held the largest market share in 2020 and is expected to maintain the lead, with the fastest CAGR of 7.5% from 2021 to 2030.

Type: Segmented into seasonal and pandemic vaccines.

Technology: Includes egg-based and cell-based technologies.

Age Group: Segmented into pediatric and adult populations.

Route of Administration: Injection and nasal spray.

Region: North America, Europe, Asia-Pacific, and LAMEA.

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Leading players of the global influenza vaccine market:

Biodiem
Sanofi Pasteur SA
AstraZeneca plc.
F. Hoffmann-La Roche Ltd.
Emergent BioSolutions
GlaxoSmithKline plc
Gamma Vaccines Pty Ltd.
Merck & Co. Inc. (Merck Sharp & Dohme Corp.)
Novartis AG
CSL Limited
Pfizer, Inc.
Sinovac Biotech Ltd.

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