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 designed to prevent infections caused by influenza viruses. It works by stimulating the body’s immune system to produce antibodies that can recognize and fight viruses. These vaccines are developed annually, as the influenza virus frequently mutates. Health organizations identify the strains most likely to cause illness in the upcoming flu season, allowing pharmaceutical companies to produce vaccines targeted against those strains. Receiving the flu vaccine reduces the risk of contracting the illness and can also lessen the severity if one does fall ill. It is especially recommended for the elderly, young children, and those with certain underlying health conditions, as they are more susceptible to complications from the flu.
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Influenza Vaccine Market Trends:
The increasing investment in research and development (R&D) leads to more efficient vaccine production and potentially more effective vaccines which represents one of the key factors driving the growth of the market across the globe. As a seasonal illness, influenza affects millions worldwide annually. This consistent demand leads to regular vaccine development and administration. Many governments encourage or mandate flu vaccinations, especially for high-risk groups. This often includes funding or subsidy programs to make vaccines more accessible. Organizations like the WHO provide guidelines and support, which is encouraging vaccination and shape public health policies. Expansion into developing countries where influenza vaccines were previously less accessible fuels the market growth. Education about the benefits of influenza vaccination increases acceptance and uptake. Expanding and improving distribution channels ensure that vaccines reach a wider population which is creating a positive outlook for the market across the globe.
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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