Influenza Vaccine Market Value Projections and Insights
- The global influenza vaccine market size was valued at $5024.60 million in 2020, and is projected to reach $10,127.0 million by 2030, registering a CAGR of 7.20% from 2021 to 2030.
- By vaccine type, quadrivalent segment accounted for nearly 63% share of the influenza vaccine market in 2020.
- By technology, the egg-based segment is expected to grow at a CAGR of 7.7% from 2021 to 2030.
- By age group, the adult segment held largest market share in 2020 and is expected to remain dominant throughout the forecast period.
- By route of administration, the injection segment expected to grow at a CAGR from 2021 to 2030.
- By region, North America is expected to provide lucrative market growth opportunities and grow at a CAGR of 6.9% from 2021 to 2030.
Surge in prevalence of influenza, technological advancements in administration of vaccines, and focus of governments on immunization programs drive the growth of the global influenza vaccine market. However, high costs related to vaccine development and stringent regulations hinder the market growth. On the other hand, untapped potential in emerging countries and advent of vaccines create new opportunities in the industry.
Influenza is an acute respiratory infection caused by influenza viruses leading to illness that affects humans and animals. These viruses are genetically dynamic and evolve unpredictively each year on seasonal basis. Thus, seasonal influenza epidemics are caused by newer strains that are antigenically different from the previous circulating strains. The changes in the genetics of the influenza virus strains further results in the development of new vaccines yearly.
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Factors that boost the growth of the influenza vaccine market include increase in government support and surveillance regarding vaccination against influenza on the national and global levels to monitor the supply, distribution, and administration of flu vaccines. Moreover, rise in investment by leading market players across the globe and surge in government funding which has facilitated the launch of therapeutically effective vaccines drive the market growth.
Segment Overview
The influenza vaccine market is segmented into vaccine type, technology, age group, route of administration and region. By vaccine type, it is divided into quadrivalent and trivalent. By technology, it is classified into egg-based and cell-based. By age group, it is divided into pediatric and adult. By route of administration, it is categorized into injection and nasal spray. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
VACCINE TYPE
- Trivalent
- Vaccine type
By TECHNOLOGY
- Egg-based
- Egg-based
By AGE GROUP
- Pediatric
- Adult
By ROUTE OF ADMINISTRATION
- Injection
- Nasal spray
Market players grabbing the largest pie
- AstraZeneca Plc.
- Biodiem
- CSL Limited
- Emergent BioSolutions
- F. Hoffmann-La Roche Ltd.
- Gamma Vaccines Pty Ltd.
- GlaxoSmithKline Plc.
- Merck & Co., Inc. (Merck Sharp & Dohme Corp.)
- Novartis AG
- Pfizer, Inc.
- Sanofi Pasteur SA
- Sinovac Biotech Ltd.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the influenza vaccine market analysis from 2021 to 2030 to identify the prevailing influenza vaccine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the influenza vaccine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global influenza vaccine market .
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global influenza vaccine market trends, key players, market segments, application areas, and market growth strategies.
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