Influenza Vaccine Market Size is Estimated to Hit USD 7.2 billion, Rising at a CAGR of 7.2% by 2031: TMR Report

Wilmington, Delaware, United States, Jan. 16, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global influenza vaccine market is estimated to flourish at a CAGR of 7.2% from 2022 to 2031. Transparency Market Research projects that the overall sales revenue for influenza vaccine is estimated to reach US$ 7.2 billion by the end of 2031.  The rising prevalence of chronic conditions like diabetes and cardiovascular diseases is becoming an influential driver.

As evidence suggests a higher risk of severe influenza outcomes in individuals with underlying health issues, there is an increased focus on vaccinating high-risk populations, broadening the market’s scope. The synergy between influenza and respiratory syncytial virus (RSV) vaccines is emerging as an intriguing driver. Combined vaccines targeting both respiratory viruses could revolutionize preventive measures, presenting an uncharted avenue for market growth.

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Advancements in vaccine delivery methods, such as nasal sprays and microneedle patches, are quietly gaining momentum. These innovations enhance vaccine accessibility, especially in pediatric populations, potentially reshaping vaccination practices. The role of artificial intelligence (AI) and machine learning in epidemiological surveillance is becoming a silent driver. Predictive analytics and real-time data analysis enable quicker response to influenza outbreaks, facilitating more targeted and efficient vaccination campaigns.

Influenza Vaccine Market: Competitive Landscape

The influenza vaccine market shows a fiercely competitive landscape with key players vying for prominence. Pharmaceutical giants like Sanofi, GlaxoSmithKline, and Seqirus dominate, leveraging extensive research capabilities and global reach. Intensifying competition is evident as emerging players, including Moderna and Novavax, bring innovative technologies and alternative vaccine approaches to the forefront.

Collaborations, strategic partnerships, and acquisitions play pivotal roles in shaping market dynamics. As the world grapples with recurring influenza threats, the competitive landscape evolves, prompting companies to invest in advanced research, production capabilities, and distribution networks to ensure effective influenza prevention on a global scale. Some prominent manufacturers are as follows:

  • Pfizer Inc.
  • Sanofi
  • GlaxoSmithKline (GSK)
  • AstraZeneca
  • Merck & Co. Inc.
  • Novartis AG
  • Roche Holding AG
  • Seqirus (CSL Limited)
  • Johnson & Johnson
  • Daiichi Sankyo Company, Limited.
  • Sanofi-GSK

Product Portfolio

  • Daiichi Sankyo, a Japanese pharmaceutical giant, excels in developing innovative medicines. Their product portfolio encompasses a wide range of therapeutic areas, including cardiovascular, oncology, and rare diseases, embodying a commitment to advancing healthcare globally through groundbreaking research and development.
  • Sanofi-GSK, a collaborative force in healthcare, presents a comprehensive product portfolio rooted in vaccines. Merging expertise, they address global health challenges, delivering innovative solutions to prevent and treat diseases. Together, they strive to create a healthier future for communities worldwide through their combined pharmaceutical prowess.

Key Findings of the Market Report

  • Inactivated vaccines lead the influenza vaccine market, emphasizing safety and efficacy through virus inactivation for robust seasonal influenza prevention.
  • Quadrivalent influenza vaccines dominate the market, offering broader protection by targeting four influenza virus strains compared to trivalent vaccines.
  • Adult influenza vaccines lead the market, reflecting a broader demographic target and increased emphasis on preventing seasonal influenza in mature populations. 

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Influenza Vaccine Market Growth Drivers & Trends

  • Heightened focus on infectious disease prevention post-COVID-19 fuels demand for influenza vaccines, driving research, production, and distribution advancements.
  • Governments globally intensify influenza vaccination programs, emphasizing proactive healthcare measures and raising public awareness to curb seasonal influenza outbreaks.
  • Innovations in vaccine technologies, including mRNA platforms and recombinant methods, contribute to enhanced efficacy, scalability, and rapid response capabilities in influenza vaccine development.
  • Rising investments in R&D by pharmaceutical companies and governments stimulate the creation of next-generation influenza vaccines, addressing evolving virus strains and boosting market growth.
  • A surge in public awareness regarding the importance of influenza vaccination, driven by educational campaigns and healthcare advocacy, fuels sustained demand for preventive measures against seasonal outbreaks.

Global Influenza Vaccine Market: Regional Profile

  • In North America, the United States stands as a major contributor, boasting advanced healthcare infrastructure and robust vaccination programs. The region’s market dominance is further fueled by heightened awareness of influenza prevention and a proactive approach to public health.
  • In Europe, a collaborative effort among countries like the United Kingdom, Germany, and France strengthens the market. The region’s emphasis on vaccination as a preventive healthcare measure, along with well-established regulatory frameworks, propels consistent market growth. Europe’s commitment to research and development augments its position as a hub for vaccine innovation.
  • Asia Pacific emerges as a key growth center, with countries like China, Japan, and India driving market expansion. The region experiences a high influenza burden, spurring increased vaccination initiatives. Rapid urbanization, rising healthcare investments, and a growing awareness of infectious diseases contribute to the escalating demand for influenza vaccines.

Influenza Vaccine Market: Key Segments

By Type

  • Inactivated
  • Live Attenuated

By Valency

  • Quadrivalent
  • Trivalent

By Age Group

  • Pediatric
  • Adult

By Distribution Channel

  • Hospitals & Pharmacies
  • Government & Institutional Supply
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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