Global Influenza Vaccines Market Poised for Growth, Expected to Reach $10.1 Billion by 2028

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, July 4, 2024 /EINPresswire.com/ -- The influenza vaccines market size has grown strongly in recent years. It will grow from $6.91 billion in 2023 to $7.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. It will grow to $10.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to pandemic preparedness, public health initiatives, vaccine effectiveness studies, healthcare professional recommendations, and global influenza surveillance.

Rising Incidences of Seasonal Influenza Drive Market Growth
The rising incidences of seasonal influenza are expected to propel the growth of the influenza vaccine market going forward. Seasonal influenza refers to a respiratory illness caused by influenza viruses that typically circulate and cause infections during specific times of the year, usually in the colder months. This shift has resulted from antigenic drift, population susceptibility, environmental factors, incomplete vaccine coverage, and lack of universal vaccination. Influenza vaccines help in reducing the incidences of seasonal influenza by providing immunization against the circulating strains of the virus. For instance, in October 2022, according to Central Drugs Standard Control Organization, an India-based national regulatory body for cosmetics and pharmaceuticals, the overall burden of influenza for 2021-2022 is estimated as nine million flu illnesses, 100,000 flu-related hospitalizations, 4 million flu-related medical visits, and 5,000 flu deaths. Therefore, the rising incidences of seasonal influenza are driving the growth of the influenza vaccines market.

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Major Players and Market Trends
Major companies operating in the influenza vaccines market include Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi-Aventis LLC., AstraZeneca PLC, GlaxoSmithKline plc., Serum Institute of India Private Limited, Takeda Pharmaceutical Company Limited, Moderna Inc., Viatris Inc., CSL Limited, Seqirus Inc., Daiichi Sankyo Company Limited, China National Pharmaceutical Group Corporation, Shanghai Fosun Pharmaceutical Group Co. Ltd., Mitsubishi Tanabe Pharma Corporation, Shionogi & Co. Ltd., Liaoning Cheng Da Biotechnology Co. Ltd., Novavax AB, Sinovac Biotech Co. Ltd., Green Cross Corporation, Emergent BioSolutions Inc., Walvax Biotechnology Co. Ltd., Hualan Biological Engineering Inc., Valneva SE, Bharat Biotech International Limited, Vaxess Technologies Inc., Osivax, and Gamma Vaccines Pty. Ltd.

Innovation in Quadrivalent Seasonal Influenza Vaccines
Major companies operating in the influenza vaccine market are adopting advanced product innovations, such as quadrivalent seasonal influenza vaccines, to strengthen the company's respiratory vaccine franchise and financial profile. A quadrivalent seasonal influenza vaccine is designed to protect against four different flu viruses, including two influenza A viruses and two influenza B viruses. For instance, in September 2023, Clover Biopharmaceuticals Ltd., a China-based biotechnology company, launched AdimFlu-S (QIS), a quadrivalent seasonal influenza vaccine. This vaccine is the only imported quadrivalent seasonal influenza vaccine approved for use in individuals aged three years and older in China. The quadrivalent make-up of the vaccine improves its ability to achieve high vaccine effectiveness, regardless of which influenza B strain becomes seasonally prevalent, when compared to trivalent options.

Segments:
• By Vaccine Type: Inactivated, Live Attenuated
• By Valency: Quadrivalent, Trivalent
• By Route Of Administration: Injection, Nasal Spray
• By Age Group: Pediatric, Adult
• By Distribution Channel: Hospitals And Pharmacies, Government And Institutional Supply, Other Distribution Channels
Geographical Insights: North America Leading the Market

North America was the largest region in the influenza vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the influenza vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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Influenza Vaccines Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Influenza Vaccines Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on influenza vaccines market size, influenza vaccines market drivers and trends, influenza vaccines market major players, competitors' revenues, market positioning, and market growth across geographies. The influenza vaccines market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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