The new report by Expert Market Research titled, ‘Global Influenza Vaccine Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global influenza vaccine market, assessing the market based on its segments like vaccine types, technologies, age groups, routes of administrations, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 5.1 Billion
- Forecast CAGR (2021-2026): 7.34%
- Forecast Market Size (2026): USD 7.8 Billion
The market for influenza vaccine is being aided by the rising awareness regarding the importance of influenza vaccination to prevent adverse side-effects of influenza. The increasing approvals of novel influenza vaccines by various governments are propelling the market growth. The increasing focus on preventing the spread of infectious diseases, in the wake of the COVID-19 pandemic, is surging the demand for influenza vaccines, hence driving the market growth. As most influenza-related complications are prevalent in developing countries, governments are increasingly providing free vaccination to both children and adults. In addition, increasing research and development (R&D) to enable the vaccine to provide protection against strains of influenza virus is augmenting the market for influenza vaccine.
Industry Definition and Major Segments
Influenza vaccine, variously known as a flu vaccine, refers to the vaccination that is administered to provide protection against the influenza virus. It lowers the risk of influenza-related complications like bacterial pneumonia and ear infection. Influenza vaccines are usually administered by governments to enhance the overall quality of life of their citizens.
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The market, based on vaccine types, can be bifurcated into:
- Quadrivalent
- Trivalent
The major technologies of influenza vaccine are:
Based on age group, the market is divided into:
- Paediatric
- Adult
By route of administration, the industry is classified into:
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The major regional markets of influenza vaccine are:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
Market Trends
The growth of the influenza vaccine industry is being propelled by the increasing adoption of cold-adapted influenza virus vaccines to enhance the safety of vaccination. The growing preference for cold-adapted influenza vaccines for children and trypanophobic population owing to their administration through nasal spray is significantly contributing to the industry growth. Moreover, advancements in vaccination technology are increasing research activities to develop mRNA influenza vaccines with bolstered efficacy and safety, thus fuelling the industry growth. This is also leading to the initiation of various studies and clinical trials to determine the benefits, immunogenicity, and safety of mRNA influenza vaccines, which is anticipated to provide further impetus to the market growth in the forecast period.
Key Market Players
The major players in the market are AstraZeneca plc, Biodiem Limited, CSL Limited, Emergent BioSolutions Inc., F. Hoffmann-La Roche AG, Gamma Vaccines Pty Ltd, GlaxoSmithKline Plc., Merck and Co., Inc., Pfizer Inc., and Sanofi S.A., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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