Pune, June 08, 2020 (GLOBE NEWSWIRE) -- The global influenza vaccines market size is slated to reach USD 7.34 billion by 2026, exhibiting a CAGR of 7.7% during the forecast period. Increasing prevalence of influenza worldwide will be the major driving force behind the growth of this market. According to the World Health Organization (WHO), around 3 to 5 million cases of influenza-based diseases are reported annually across the globe. This has spurred governments to take proactive measures to contain the spread of this deadly disease.
Many governments carry out extensive vaccination drives before the flu season begins to immunize people from contracting any such infections, bolstering the seasonal influenza vaccines market demand. At the global level, organizations such as the WHO and the United Nations’ Children Fund (UNICEF) regularly recommend various seasonal and general influenza vaccines to regional public authorities. These factors are expected to give rise to a robust growth period for this market.
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According to a new Fortune Business Insights™ report, titled “Influenza Vaccines Market Size, Share & Industry Analysis, By Type (Inactivated, and Live Attenuated), By Valency (Quadrivalent and Trivalent), By Age Group (Pediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Geography Forecast, 2019-2026”, the value of this market stood at USD 4.05 billion in 2018. In addition to market value, the report provides the following:
- An exhaustive research into the different segments to comprehensively understand the market;
- A careful study of the industry trends that will shape the size, share, and overall growth of the market; and
- A detailed assessment of the various factors, future prospects, and regional and competitive dynamics influencing the market.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Initiation of Government-backed Immunization Programs to Foster Greater Demand
Governments all around the world are increasingly focusing on initiating large-scale immunization drives to tackle influenza and related diseases, which is benefiting the flu vaccine market. These initiatives are receiving active support from international organizations such as the WHO. More importantly, these bodies are increasing their surveillance capacities to contain the spread of the disease and taking all measures necessary to prevent the outbreak of an epidemic.
Many organizations, such as the Bill and Melinda Gates Foundation, Centers for Disease Control and Prevention (CDC), and WHO Global Influenza Surveillance and Response System (GISRS), are also facilitating research through increased funding for the development of up-to-date vaccines. This is enabling governments to launch broad-based domestic immunization drives, which will play a central role in determining the influenza vaccines market trends during the forecast period.
North America to Occupy a Commanding Position; Asia-Pacific to Register Robust Growth
Having generated a revenue of USD 1.98 billion in 2018, North America is expected to dominate the influenza vaccines market share primarily owing to the utilization of advanced manufacturing systems and processes for vaccines. Besides this, rising incidence of influenza, well-funded vaccine research programs, and presence of big companies will further fuel the market in this region.
Asia-Pacific will boast the highest growth rate among regions on account of fast-increasing population along with active government support for healthcare research will raise the demand for effective vaccines in the region. Lastly, increasing immunization rate, coupled with high awareness regarding vaccination, will drive the market in Europe.
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Presence of a Few Players to Make Competition Tight
Through its influenza vaccines market report, Fortune Business Insights™ has brought out an in-depth analysis of the competition in this market. The report states that the competitive landscape will be dotted by a few key players who are increasing their investment in enhancing their R&D capacities to widen their product portfolio.
Key Industry Developments:
- November 2019: Sanofi received clearance for its Fluzone® High-Dose Quadrivalent from the US Food and Drug Administration (FDA). Containing an additional Influenza B strain, the drug is designed and aimed at treating adults at and over the age of 65.
- January 2019: The European Commission green lit Seqirus’s FLUCELVAX® TETRA for marketing in Europe. This is a cell-based quadrivalent influenza vaccine, the first of its kind to be marketed in Europe, which is to be used on people aged 9 years and above.
List of Key Companies Operating in the Influenza Vaccines Market are:
• AstraZeneca
• F. Hoffmann-La Roche Ltd
• Sanofi
• GlaxoSmithKline plc.
• Sinovac Biotech Ltd
• CSL Limited
• Emergent BioSolutions Inc.
• BioDiem
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launch
- Pipeline Analysis
- Prevalence of Influenza- For Key Countries, 2018
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Influenza Vaccines Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Inactivated
- Live Attenuated
- Market Analysis, Insights and Forecast – By Valency
- Quadrivalent
- Trivalent
- Market Analysis, Insights and Forecast – By Age Group
- Pediatric
- Adults
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
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Vaccines Market Size, Share & Industry Analysis, By Type (Recombinant/Conjugate/Subunit, Inactivated, Live Attenuated and Toxoid), By Route of Administration (Parenteral and Oral), By Disease Indication (Viral Diseases and Bacterial Diseases), By Age Group (Pediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Region Forecast, 2019-2026
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