IMARC Group, a leading market research company, has recently releases report titled “Influenza Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global influenza vaccine market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the influenza vaccine market?
The global influenza vaccine market reached a value of US$ 6.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.8 Billion by 2028, exhibiting a CAGR of 8.4% during 2023-2028.
The influenza vaccine is created to thwart infections caused by influenza viruses. Its mechanism involves triggering the body’s immune system to generate antibodies capable of detecting and combating these viruses. These vaccines are crafted on an annual basis due to the frequent mutations of the influenza virus. Health organizations pinpoint the strains most likely to cause illness in the upcoming flu season, enabling pharmaceutical companies to manufacture vaccines specifically tailored to combat these strains. Receiving the flu vaccine diminishes the risk of contracting the illness and can also mitigate its severity if contracted. It is particularly recommended for the elderly, young children, and individuals with certain underlying health conditions, as they are more vulnerable to complications arising from the flu.
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Influenza Vaccine Market Trends:
The continual increase in investments in research and development (R&D) has a twofold impact: it enhances the efficiency of vaccine production and holds the potential for more effective vaccines. This stands as a pivotal driver behind the global market’s expansion. Influenza, being a recurring seasonal ailment, exerts its impact on millions worldwide each year. This sustained demand necessitates the consistent development and administration of vaccines. Numerous governments actively promote or require influenza vaccinations, particularly among high-risk groups. They often facilitate this through funding or subsidy initiatives to enhance vaccine accessibility. International organizations like the WHO provide guidance and support, further incentivizing vaccination efforts and influencing public health policies. The market’s growth is additionally propelled by its expansion into previously underserved developing nations, where influenza vaccines were less accessible. Increased public awareness regarding the benefits of influenza vaccination contributes to higher acceptance and uptake rates. The expansion and enhancement of distribution networks ensure that vaccines are made available to a broader population, creating a favorable outlook for the global market.
Influenza Vaccine Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the influenza vaccine market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Abbott Laboratories
- AstraZeneca plc
- CSL Limited
- Daiichi Sankyo Company Limited
- Emergent BioSolutions Inc.
- F. Hoffmann-La Roche AG
- Gamma Vaccines Pty Ltd
- GlaxoSmithKline plc
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi
- SINOVAC
Key Market Segmentation:
The report has segmented the influenza vaccine market on the basis of breakup by vaccine type, technology, age group, route of administration and region.
Breakup by Vaccine Type:
- Quadrivalent
- Trivalent
Breakup by Technology:
- Egg-based
- Cell-based
Breakup by Age Group:
- Pediatric
- Adult
Breakup by Route of Administration:
- Injection
- Nasal Spray
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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