Publishing: November 2021 | Report Code: LS10310 | Available Format: PDF
The global influenza vaccine market is growing significantly due increasing awareness about the pandemic influenza viruses and increasing government involvement for vaccination against influenza viruses.Massive unexplored influenza vaccine marketin the emerging economiesare creating ample opportunities for the global influenza vaccine marketto grow at a significant rate in the forecasted period.The advanced research and development facilities and new vaccine developments by the companies are propelling the demand for safe and efficacious influenza vaccine. Influenza (flu) is a respiratory disease caused by mainly two types of influenza viruses namely, influenza A and B viruses. Influenza A viruses are of two types based on the proteins on the surface of virus: hemagglutinin (H) and neuraminidase (N).
In global influenza vaccine industry, there is a trend of development of intranasal vaccine due to the ease of self administration. According to Centers for Disease Control and Prevention (CDC),in 2009, approximately 151,700 to 575,400 people died due to H1N1 influenza pandemic or swine flu across the globe. In addition, the organization also reported that most deaths due to 2009 flu pandemic occurred in Africa and Southeast Asia region. Several vaccines have been developed to prevent pandemic and seasonal influenza viruses using recombinant DNA technology and extensive researches are going on to develop efficient influenza vaccines using cell culture technology. Various governmental and non-governmental organizations have been actively involved in promoting and monitoring vaccination programs aimed at immunising people against seasonal influenza viruses. This in turn fuels the growth of global influenza vaccine market.
Influenza vaccine market can be categorized on the basis ofvaccines,type of influenza viruses, and end-users. On the basis of vaccines, the influenza vaccine market can be categorized as Fluzone/Vaxigrip, Anflu, FluMist, Fluarix, FluLaval, Fluvax/Afluria, Fluvirin, and others. Based on type of influenza viruses, the influenza vaccine market can categorized as influenza A viruses, influenza B viruses, and others. On the basis of end-users, the influenza vaccine market can be segmented as pediatrics and adults.
Some of the factors driving the growth of the global influenza vaccine market are increasing research and development activities,increasing investment by companies for the development of influenza vaccine, technological advancements in recombinant DNA technology, large number of population with no immunization against influenza viruses in emerging economies,increasing healthcare expenditure, and increasing involvement of government and non-government organizations.In addition, geriatric population and people suffering from chronic diseases are at higher risk of developing influenza virus infection; hence, aging population and increasing prevalence of chronic diseases are also driving the demand of influenza vaccine market. However, stringent regulatory framework and low accessibility to remote areas aresome of the factors restraining the growth of the global influenza vaccine market to some extent.
Geographically, North America will be leading the global influenza vaccine market in the coming years, due to high awareness of influenza viruses, high healthcare expenditure, and increasing research and development activities.In addition, the U.S. Food and Drug Administration (FDA), recommends vaccination as the most effective method to prevent influenza; hence, fueling the growth of influenza vaccine market in NorthAmerica region. Asia-Pacificis the fastest growing region in the global influenza vaccinemarket. The major reasons for the fastest growth in the region are massive unexplored market (as large number of people donot have access to vaccination), increasing involvement of government, and increasing healthcare expenditure.
Some of the major players operating in the global influenza vaccine market are GlaxoSmithKline,Sanofi Pasteur, Inc., ID Biomedical Corporation, CSL Limited, Novartis, Protein Sciences Corporaton, MedImmune, LLC, Sinovac Biotech, Serum Institute of India, and Hualun Biologicalsamong others.
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