According to Precedence Research, the global influenza vaccine market size is estimated to be USD 7.77 billion in 2023 and will exceed approximately USD 18.02 billion by 2034, growing at a CAGR of 8% from 2024 to 2034. It is expected.
The North American influenza vaccine market size is estimated to be USD 3.65 billion in 2023. The growth of the influenza vaccine market is driven by the 1 billion cases of seasonal influenza, including an estimated 3 million to 5 million severe cases each year. 99% of influenza-related respiratory illness deaths in children under 5 years of age occur in developing countries.
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The influenza vaccine market is growing rapidly, as influenza vaccines are the best way to reduce the risk of contracting influenza and its possible consequences. Getting the flu vaccine also reduces your chances of transmitting the flu to others. There are four types of influenza: A, B, C, and D. Influenza A and B are contagious and cause seasonal epidemics. Most people recover from fever and other symptoms within a week without requiring medical attention. However, influenza can cause severe illness and death, especially in high-risk groups. Seasonal influenza spreads easily and quickly in crowded places such as schools and nursing homes. Therefore, it is important to monitor the disease and get vaccinated quickly.
for example,
– In April 2023, Sinovac Biotech Co., Ltd. announced the recent commissioning of a new influenza vaccine manufacturing facility in Beijing. The factory will follow China’s Good Manufacturing Practice (GMP) guidelines and use environmentally friendly manufacturing techniques to achieve large-scale electronics production, expanding Sinovac’s production capacity and meeting the global demand for effective influenza vaccines. We are responding to the growing demand for
Important points:
· North America generated the highest revenue share of 47% in 2023. However, Asia-Pacific is expected to exhibit the fastest CAGR from 2024 to 2034.
· By vaccine type, the quadrivalent segment had the highest revenue share of 65% in 2023. However, the trivalent segment is expected to grow at a CAGR of 10.1% from 2024 to 2034.
By technology, the egg-based segment accounted for 69% revenue share in 2023.
· By age group, the pediatric segment captured a 59% revenue share in 2023.
– By route of administration, the nasal spray segment accounted for 53% revenue share in 2023.
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Top Growth Factors for Influenza Vaccine Market
· Increased use of seasonal vaccines: Increased use of seasonal influenza vaccines, whose primary purpose is prevention of severe illness caused by influenza viruses, has led to the growth of the influenza vaccine market.
Vaccination of the elderly: Advances in effective influenza vaccination must include the development of vaccine resistance, especially in the elderly, leading to the growth of a dedicated influenza vaccine market for influenza prevention.
· Reduce the risk of influenza: Influenza vaccines are the most important way to reduce the risk of contracting influenza, which is driving the growth of the influenza vaccine market.
Regional stance
North America has the largest market share in terms of the burden of various influenza viruses, and influenza poses a significant burden to the health of Americans each year. The CDC estimates that between 2010 and 2023, influenza will cause 9.3 million to 41 million illnesses, 100,000 to 710,000 hospitalizations, and 4,900 to 51,000 deaths each year. Masu. New treatments and tools are being used medically, leading to growth in the influenza vaccine market.
The Asia-Pacific region is expected to expand the fastest, as development of new influenza vaccines with better protection and increased production capacity accelerates rapidly. However, concerns remain about the impact of seasonal influenza and low uptake of seasonal influenza vaccines in the Asia-Pacific region. The Indian pharmaceutical industry has supported the growth of the influenza vaccine market by issuing orders to increase vaccine manufacturing capacity in developing countries.
spread of influenza
Increasing number of influenza cases is a major factor for the growth of the influenza vaccine market. Many people confuse a cold with the flu because of symptoms such as headaches, runny nose, and muscle aches, but seasonal influenza is a serious illness that affects 650,000 people each year. Increasing awareness of severe colds, especially among vulnerable groups such as children, the elderly, pregnant women, and people with weakened immune systems, has emphasized the importance of vaccination, and influenza vaccination is widely used worldwide. The need for this is increasing.
Next generation influenza vaccine
The development of next-generation influenza vaccines presents significant opportunities for the influenza vaccine market. This vaccine is designed to provide long-term protection against current and future influenza viruses, including seasonal and existing viruses. These next-generation immunogens leverage optimization of the cross-linking immunogen (COBRA) approach to target multiple pathogens over multiple seasons. By utilizing novel HA and NA amino acid sequences derived from multiple consensus layers across various influenza subtypes, these multivalent formulations provide broad immunity, driving innovation and growth in the influenza vaccine market It should be.
Challenges in vaccine production and efficacy
The growth of the influenza vaccine market is limited by several key challenges, including dependence on embryonated egg-based vaccines, which require long production times. Due to the rapid evolution of influenza viruses and the emergence of new antigenic strains, the need for annual vaccination further complicates vaccine development. It is also urgent to increase the immunity of the elderly and establish a strong protective group. Together, these factors hinder the expansion and effectiveness of existing influenza vaccine strategies, limiting the expansion of the influenza vaccine market.
Recent advances in the influenza vaccine market
Sanofi and Novavax partnership in influenza vaccine market
Company Name
Sanofi and Novavax
main office
united states of america
recent developments
In May 2024, Sanofi and Novavax entered into an exclusive licensing agreement for the co-commercialization of a vaccine against the novel coronavirus disease (COVID-19) and the development of a combination vaccine for the novel influenza and novel coronavirus (COVID-19). Announced. The ability to accelerate the development of new influenza-COVID-19 compounds as proven, long-lasting, cost-effective, approved vaccines provides enhanced convenience and protection for patients.
Alliance between GSK plc and CureVac NV in the influenza vaccine market
Company Name
GSK plc and CureVac NV
main office
US
recent developments
In July 2024, GSK plc and CureVac NV announced that they had converted their existing partnership into a new licensing agreement that allows each company to prioritize investment and focus on mRNA development.
Regarding the acquisition of AstraZeneca and Icosavax in the influenza vaccine market
Company Name
AstraZeneca and Icosavax
main office
US
recent developments
In February 2024, AstraZeneca announced the completion of its acquisition of Icosavax, Inc., a U.S. clinical-stage biopharmaceutical company focused on developing differentiated medicines leveraging its protein vaccine-like virus (VLP) platform. . Following this acquisition, Icosavax became a subsidiary of AstraZeneca and operates in Seattle, USA.
Report highlights
By type of vaccine
-Tetravalent segment accounts for the largest market as it is used for the prevention of influenza, both influenza A and influenza B.
· The trivalent segment is expected to expand at a significant CAGR during the forecast period as trivalent offered greater protection against influenza and emergency room admissions.
By technology
· The egg-based segment held the largest market share because it can prompt the patient’s immune system to direct antibodies to targets, or “epitopes,” on the vaccine virus.
Cell culture segment is expected to grow fastest during the forecast period as cell-based vaccines rapidly produce vaccine products during the pandemic.
By route of administration
· Nasal drops have the highest market value because they contain an attenuated (attenuated) virus and therefore do not cause influenza illness.
· The injectable segment is expected to expand at the fastest rate during the forecast period as it helps strengthen the immune system by producing antibodies and vaccines contain proteins that prevent infection by bacteria.
Recent News on Influenza Vaccine Market
・In September 2022, Pfizer will conduct a pivotal trial to evaluate the efficacy, safety, tolerability, and immunogenicity of its influenza vaccine tetravalent modified RNA (modRNA) in approximately 25,000 healthy adults in the United States. announced that the first participant in a Phase 3 clinical trial has been vaccinated. .
・In July 2024, Sanofi began shipping the first influenza vaccine in the United States in preparation for the 2024/25 influenza season. Sanofi’s influenza vaccines in the U.S. are all low-dose and protect against three common influenza strains: two influenza A strains and one influenza B strain.
・In May 2024, Novavax, Inc., a global company developing vaccines using Matrix-M adjuvant, signed an exclusive agreement with Sanofi.
Related reports
· Influenza Drug Market Report 2024-2033 – https://www.precedenceresearch.com/influenza-drug-market
· Influenza Diagnostic Market Report 2024-2034 – https://www.precedenceresearch.com/influenza-diagnostic-market
Key players in the influenza vaccine market
・Sanofi Pasteur
· GlaxoSmithKline plc (GSK)
・Seqirus (CSL Ltd.)
・Pfizer Co., Ltd.
・AstraZeneca
· BiondVax Pharmaceuticals Ltd.
・Novavax Co., Ltd.
· Bharat Biotech
· Johnson & Johnson
・MedImmune, LLC (AstraZeneca)
· Fulgen
・Mitsubishi Tanabe Pharma Co., Ltd.
· Emergent biosolutions
・Sinovac Biotech Co., Ltd.
・Biopharma
Market segmentation
By type of vaccine
・Quadrivalent
・Trivalent
By technology
・Egg base
・Cell culture
By age group
・Children
·adult
By route of administration
・Injection
・Nasal drops
By geography
· North America
·Europe
· Asia Pacific
· latin america
· Middle East and Africa (MEA)
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