The global Influenza Vaccine market is expected to grow at a compound annual growth rate of 5.35% over the forecast period to reach a market size of US$6.017 billion in 2027 from US$4.177 billion in 2020.
Influenza is a viral infection that affects the respiratory system and is caused by the flu virus. The influenza virus is infectious and spreads by respiratory droplets. It can also be passed from one person to another through conversation or physical touch. The influenza virus is constantly spreading, resulting in regional epidemics and outbreaks that kill thousands of people. Healthcare organizations like the Centers for Disease Control and Prevention (CDC) around the world are using vaccines like baloxavir marboxil (Xofluza) to treat the flu caused by the influenza virus. The rising prevalence of Sars-cov-2 across the globe and the rising investments in research and development to develop a vaccine that can fight against the COVID-19 virus are expected to drive the influenza vaccine market during the forecast period. According to the World Health Organization, annual influenza epidemics are estimated to severely affect 3-5 million people and cause 290k to 650k respiratory deaths. The growing geriatric population across the globe is also expected to increase the demand for influenza vaccines as people aged over 60 years are at greater risk of severe disease or health complications caused by the influenza virus.
Diabetes, cancer, anemia, obesity, immune deficiencies, human immunodeficiency virus (HIV), metabolic diseases, kidney disease, neurological disorders, and chronic heart and lung disorders like bronchopulmonary dysplasia, cystic fibrosis, and asthma are all increasing the risk of contracting influenza. This is a significant role in the market's expansion. Furthermore, children under the age of five are at a higher risk of developing complications such as high fever, seizures, and pneumonia. This, together with increased parental concerns about their children's health, is impacting influenza vaccine demand in a good way. Growing awareness about the medication and prevention of influenza and an increasing number of government initiatives will further drive the growth of the market in the coming years.
The center for Disease Control and Prevention has estimated the number of people who fall ill because of the flu and calculated that around 9 to 41 million people were severely ill because of the flu caused by the influenza virus. About 140,000 – 710,000 people were hospitalized due to health-related complications caused by the influenza virus, and 12,000 – 52,000 deaths occurred annually between 2010 and 2020. The COVID-19 pandemic caused millions of deaths globally, and researchers and pharmaceutical companies around the world are making efforts to develop a safe and effective vaccine that can fight against the Sars-cov-2 virus due to which biotech companies around the world are investing in their R & D to develop an effective vaccine that will further drive the influenza vaccination market in the coming years. Pharmaceutical and biotech companies around the world have developed various vaccines that are found to be effective in the fight against covid-19. For example- BioNTech, in partnership with pharmaceutical giant Pfizer, has developed a COVID-19 vaccine, “Pfizer-BioNTech” which has an efficacy rate of over 90 percent. The research and development process in manufacturing the vaccine is accelerating. WHO and its partners are making efforts to accelerate the development of COVID-19 vaccines by maintaining all the safety standards. India, the largest producer of vaccines, is planning to produce 5 billion doses of COVID-19 vaccines by the year 2022, which is expected to drive the influenza vaccine market across the country.
COVID-19's Impact on the Influenza Vaccine Market:
The global influenza vaccine industry is expected to grow positively as a result of the COVID-19 outbreak. As the number of people infected with the COVID-19 virus grows, the demand for influenza vaccines rises. COVID-19 will not be prevented by the influenza vaccine, but it will reduce sickness, death, and hospitalization. According to the European Congress of Clinical Microbiology and Infectious Diseases (ECCMID), roughly 75,000 COVID-19 patients who had an influenza vaccine shot in 2021 were less likely to develop sepsis, stroke, or deep vein thrombosis. According to the same source, the flu vaccine may offer protection against the COVID-19 virus in 2021. Based on the stats and facts related to the COVID-19 pandemic, it can be concluded that the pandemic has a positive impact on the overall influenza vaccine market.
The increasing global demand for coupled inductors has led to the entry of several new players in the global influenza vaccine market. To increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which are expected to keep the market competitive and constantly evolving. Major market players like Seqirus, GlaxoSmithKline PLC, and Sanofi Pasteur SA, among others, have been covered along with their relative competitive strategies. The report also mentions recent deals and investments by different market players over the last few years.
|Market size value in 2020||US$4.177 billion|
|Market size value in 2027||US$6.017 billion|
|Growth Rate||CAGR of 5.35% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Vaccine Technology, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Seqirus, GlaxoSmithKline plc., Sanofi Pasteur SA., Novavax, Inc., Emergent BioSolutions Inc., CSL Limited, Pfizer Limited, Gamma Vaccines Pty Ltd, Moderna,Inc., F. Hoffmann-La Roche Ltd|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the influenza vaccine market size by 2027?
A1. The global influenza vaccine market is expected to reach a market size of US$6.017 billion in 2027.
Q2. What is the size of the global influenza vaccine market?
A2. Influenza Vaccine Market was valued at US$4.177 billion in 2020.
Q3. What are the growth prospects for the influenza vaccine market?
A3. The influenza vaccine market is expected to is projected to grow at a CAGR of 5.35% during the forecast period.
Q4. What factors are anticipated to drive the influenza vaccine market growth?
A4. Growing awareness about the medication and prevention of influenza and an increasing number of government initiatives will further drive the influenza vaccine market growth.
Q5. How is the global influenza vaccine market segmented?
A5. The influenza vaccine market has been segmented by vaccine technology, end-user, and geography.
Sanofi Pasteur SA.
Emergent BioSolutions Inc.
Gamma Vaccines Pty Ltd
F. Hoffmann-La Roche Ltd
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