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With 7.2% CAGR, Influenza Vaccine Market Size worth USD 10.73 Billion in 2028

According To Fortune Business Insights, the Global Influenza Vaccine Market Size Is Projected To Reach USD 10.73 Billion by 2028, Exhibiting A CAGR Of 7.2% During Forecast Period; Rising Prevalence Of Influenza Vaccine With Favorable Reimbursement Policies To Drive Growth

/EIN News/ -- Pune, India, May 10, 2022 (GLOBE NEWSWIRE) -- The Influenza Vaccine Market size is expected to showcase considerable growth by reaching USD 10.73 billion by 2028 while exhibiting a CAGR of 7.2% between 2021 and 2028. The report further mentions that the market stood at USD 5.86 billion in 2020. According to the Centers for Disease Control and Prevention (CDC), around 13 million flu cases were reported globally during 2019-20. Besides, the flu outbreaks lead to several thousand deaths and take a toll on the healthcare settings. Therefore, the increasing focus on the supply of vaccines by several International Health Organizations is likely to propel the demand for the products in the forthcoming years.

Key Industry Development

March 2021 - Sanofi announced its plan to invest around USD 736.9 million in its Canadian vaccine manufacturing facility. The company aims to quadruple the supply of vaccines in the country, the U.S., and other European countries.


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Report Scope & Segmentation :

Report Coverage Details
Forecast Period 2021-2028
Forecast Period 2021 to 2028 CAGR 7.2%
2028 Value Projection USD 10.73 billion
Base Year 2020
Market Size in 2021 USD 6.59 billion
Historical Data for 2017-2019
No. of Pages 172
Segments covered By Type,  By Valency, By Age Group, By Distribution Channel, By Geography
Growth Drivers Asia-Pacific is expected to showcase exponential growth in the forthcoming years. Due to the rising population across the region in countries such as China and India, the demand for effective vaccines leading to higher sales is expected to boost the market growth.
Population enlargement in emerging countries such as China and India has led to the increasing demand for pediatric vaccines, thus, propelling the market growth opportunities.


Influenza Vaccine Market Growth Drivers

International organizations such as UNICEF, PAHO, and others have been actively focusing on supplying millions of vaccine doses globally. This is due to the increasing prevalence of infectious diseases, leading to the surging demand for effective vaccines to control the spread. Besides, government provision for large procurement of vaccines is likely to boost the adoption of flu vaccines.

On the other hand, the high cost of vaccines has led to limited access across the less developed regions. This is anticipated to hinder the influenza vaccine market growth to some extent. 

What does the Report Include?

The avian influenza vaccine market analysis includes a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the avian influenza vaccine market growth.


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Regional Insights

North America – The region is expected to dominate and hold the highest position in the market in the forthcoming years. This is owing to the increasing incidence of influenza outbreaks in countries such as the U.S. Moreover, the presence of prominent companies focusing on developing innovative vaccine solutions will further boost the demand for influenza vaccines market size in the region. North America stood at USD 3.04 billion in 2020.

Asia-Pacific – The market in the region is anticipated to experience significant growth backed by the rising rate of population in countries such as India and China that propel the adoption of advanced influenza vaccines to combat flu diseases between 2021 and 2028.

Segments

On the basis of type, the market is divided into inactivated and live attenuated.

  • Based on type, the inactivated segment held influenza vaccine market share of about 93.9% in 2020. The segment is likely to showcase exponential growth backed by the increasing demand for this type of virus strain that helps to minimize the effect of the flu virus in reduced time.

Based on valency, the market is segmented into quadrivalent and trivalent. Moreover, on the basis of the age group, the market is segregated into pediatrics and adults. Based on the distribution channel, the market is trifurcated into hospitals & retail pharmacies, government suppliers, and others. Lastly, based on the region, the market is categorized into North America, Latin America, the Middle East and Africa, Europe, and Asia-Pacific.

Competitive Landscape

The global market for influenza vaccine is consolidated by the presence of major companies focusing on investing in research and development activities to introduce innovative technological solutions to improve the product's efficacy across the healthcare sector. In addition to this, adopting strategies such as partnership, collaboration, and facility expansion by other key players will favor the avian influenza vaccine market trends during the forecast period.


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List of the Companies Profiled in the Global Market:

  • GlaxoSmithKline plc. (U.K, Europe)
  • Sanofi S.A (France, Europe)
  • AstraZeneca (Cambridge, United Kingdom)
  • Seqirus (Maidenhead, UK)
  • BioDiem (South Melbourne Victoria)
  • Emergent BioSolutions Inc. (Maryland, United States)
  • Sinovac Biotech Ltd (China)
  • Other Prominent Players

Table of Contents

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Pricing Analysis – By Key Brand/Key Players, By Key Countries
    • Snapshot of Pipeline Analysis of Influenza Vaccines
    • New Product Launch
    • Impact of COVID-19 on Influenza Vaccine Market
    • Snapshot of Influenza Vaccine Rate – For Key Countries
    • Annual Disease Burden of Influenza – For Key Countries/ Regions
    • Influenza Vaccination Campaigns/Programs Undertaken by Government
    • Key Industry Developments - Mergers, Acquisitions, and Partnerships etc.
  • Influenza Vaccine Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Inactivated
      • Live Attenuated
    • Market Analysis, Insights and Forecast – By Valency
      • Quadrivalent
      • Trivalent
    • Market Analysis, Insights and Forecast – By Age Group
      • Pediatric
      • Adults
    • Market Analysis, Insights and Forecast – By Distribution Channel
      • Hospital & Retail Pharmacies
      • Government Suppliers
      • Others
    • Market Analysis, Insights and Forecast – By Geography
      • North America
      • Europe
      • Asia pacific
      • Latin America
      • Middle East & Africa

ToC Continued…


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