Market Highlights
Global Influenza Vaccines Market is expected to register a CAGR of 6.53% during the forecast period, with a market value of USD 7,828.3 Million by 2025.
Influenza is an infection of the upper airway caused by an influenza virus, which is commonly known as flu. The most common symptoms include high fever, sore throat, headache, coughing, and sneezing. Influenza spreads across the world in seasonal outbreaks. Influenza viruses are one of the major infectious disease threats to the human population owing to both the health impact of annual influenza and the tremendous global consequences of influenza pandemics. Seasonal influenza alone causes 250,000 to 500,000 deaths and 3 to 5 million cases of severe illness worldwide each year. An increasing number of clinical trials would create an opportunity for manufacturers to invest in the development of influenza vaccines. Moreover, as of 2019, around 80 clinical trials for influenza vaccine were reported and some of the major companies have participated in conducting clinical trials including Seqirus, Sanofi Pasteur and GlaxoSmithKline.
For instance,
- H7N9 antigen sponsored by the Butantan Institute is currently under the clinical trial Phase 1 for the treatment of influenza.
- Medicago Inc., the affiliated company of Mitsubishi, initiated the Phase III clinical study for its seasonal quadrivalent influenza vaccine candidate, in Canada, the US, Europe, and Asia.
- The rising prevalence of influenza, increasing public and private initiatives for research and development, growing awareness about influenza vaccines, and increasing product launches and approvals are anticipated to drive the market growth of the global influenza vaccines market. However, stringent regulatory policies; and product recalls and clinical trial suspension are expected to restrict the market growth.
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Segment Analysis
The Global Influenza Vaccines Market has been divided based on influenza Type, Manufacturing Technology, Vaccine Type, and End User. The market, based on influenza type, has been segregated into seasonal and zoonotic. Based on manufacturing technology, the influenza vaccine market has been divided into egg-based, cell culture-based, and recombinant-based. On the basis of vaccine type, it is bifurcated into trivalent vaccines and quadrivalent vaccines. On the basis of end-user, it is bifurcated into hospitals and clinics, research organizations and academic institutions, and others.
Regional Analysis
The Global Influenza Vaccines Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is likely to hold the largest share of the global influenza vaccine market during the assessment period. The rising prevalence of influenza and well-established players are expected to support the dominance of the Americas during the forecast period. Moreover, various researches are being carried out by research organizations in the US to come up with a new diagnosis and treatment options for influenza support the growth of the market. For instance, in 2019, NIAID launched a network of research centers in the US to develop better influenza vaccines. The European market established substantial growth in the market due to the high prevalence of seasonal influenza and the rise in product launches in this region. Asia-Pacific is estimated to be the fastest-growing region in the global market due to the rising investment by major companies to enhance their foothold in the regional market. The influenza vaccines market in the Middle East & Africa is expected to witness gradual growth due to the developing healthcare infrastructure, and continuously increasing demand for vaccination.
Key Players
MRFR recognizes the following companies as the Key Players in the Global Influenza Vaccines Market— AstraZeneca (UK), GlaxoSmithKline PLC (UK), Sanofi (France), Abbott Laboratories (US), Seqirus (UK), Hualan Biological Engineering Inc. (China), Mitsubishi Tanabe Pharma (Japan), Serum Institute of India Pvt. Ltd (India), and Mylan NV (US), and Others.
Key Findings of the Study
- The Global Influenza Vaccines Market was valued at USD 5,015.0 Million in 2018 and is expected to register a CAGR of 6.53% during the assessment period of 2019 to 2025.
- The Americas accounted for the largest share of the global market. The presence of key market players, increasing clinical trials for influenza, and the rising prevalence of influenza is attributed to the growth of influenza vaccines in the US and Canada.
- Based on the influenza type, the seasonal segment accounted for the largest market share of 88.07% in 2018.
- Based on manufacturing Recombinant-based, the recombinant-based segment is expected to register the highest CAGR of 8.63% during the forecast period.
- Based on the vaccine type, the quadrivalent influenza vaccine segment is expected to register the highest CAGR of 6.90% during the forecast period.
- Based on the end-user, the hospitals and clinics segment accounted for the largest market share of 44.94% in 2018.
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