Influenza Vaccination Market Size

Influenza Vaccines Market Overview

The Influenza Vaccines Market Size was valued at USD 7.93 billion in 2023 and is projected to grow from USD 8.40 Billion in 2024 to USD 14.28 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.07% during the forecast period (2024 - 2032). One of the key market drivers fueling the expansion is an increase in government support and monitoring related to influenza vaccination on the national and international levels to track the supply, distribution, and administration of flu vaccines.

Influenza is the name for the viral infection that affects the respiratory system due to the illness. The infectious influenza virus spreads via respiratory droplets. Additionally, it can be transmitted through conversation or physical contact. The influenza virus constantly spreads, resulting in localized epidemics and outbreaks that claim thousands of lives. An annual adjustment in the vaccine strain to match the virus that causes influenza strain is necessary due to the virus's evolving characteristics. During the predicted period, seasonal breakouts and epidemics are anticipated to become more common. Furthermore, to offer the most protection throughout the flu season, government organizations recommend that people get vaccinated as soon as possible. Additionally, pharmaceutical firms are constantly dealing with new difficulties in creating a suitable vaccine against a particular strain.

Therefore, the increasing demand for influenza vaccines is projected to drive the market. Three different influenza viruses, including influenza type A with H3N2 viral strain, influenza type A with H1N1 viral strain and influenza type B viral strain, are utilized in the influenza vaccines. The coronavirus pandemic impacts the global routine immunization initiatives run in developed and poor nations. However, during the pandemic, the incidence of vaccination increased due to several causes, particularly pressure from health agencies and the development of government programs delivering free doses. Another element influencing the uptake of immunizations is the public's rising knowledge of the increased risk of contracting COVID-19 if the flu impairs the immune system.

During the forecasted period, pandemics and outbreaks of influenza are predicted to increase product sales. One of the key drivers of the worldwide market's expansion is the rise in government programs to boost influenza vaccination. To address the unmet need for immunization, the WHO, in collaboration with other governmental entities, continuously evaluates demand and runs vaccination programs worldwide.

News

The German pharmaceutical firm Boehringer Ingelheim has received an order for 80 million doses of an anti-avian influenza vaccine from the French Department of Agriculture. In protest, its French rival Ceva Animal Health filed an appeal with the Paris trade court. The organization for the foie gras sector, Cifog, also questioned the agreement. France plans to begin to combat avian influenza by immunizing millions of ducks. The animals, mostly used to manufacture the livers for foie gras, are kept at poultry farms in the South-West of the nation, an area that has recently experienced widespread outbreaks of extremely pathogenic avian influenza.

Influenza Vaccines Market Trends

• Rising prevalence and incidence of influenza to propel market growth

One of the main factors promoting the growth of the influenza vaccines market is the rising prevalence and incidence of the disease. All age groups are experiencing an increase in influenza incidence. According to CDC data, between October 1, 2019, and March 21, 2020, 39 to 56 million people in the US experienced influenza caused by the influenza virus. In addition, due to the country's rising influenza prevalence, hospital admissions surged from 400,000 on October 1, 2019, to 730,000 on March 21, 2020. As a result, the need for influenza vaccinations to treat the disease is being driven by the rising prevalence and incidence. Thus, this factor is driving the market CAGR for influenza vaccines.

Furthermore, increased government attention and support for influenza vaccination are key market-influencing variables. It's important to conduct domestic and international surveillance when examining flu vaccination availability, distribution, and delivery. To reduce the unmet need for the vaccine, the World Health Organization, in collaboration with other governments, continuously evaluates the demand and implements immunization programs worldwide. A flu vaccination program will begin in France in October 2020 to shield the country from a second pandemic while the ongoing coronavirus pandemic continues. Priority groups for the flu vaccines included people 65 years and older, pregnant women, and anyone suffering from respiratory illnesses. Chronic diseases are being monitored by organizations like the WHO's Global Influenza Surveillance and Response System (GISRS), the Centers for Disease Control and Prevention (CDC), and the health ministries of various nations. Additionally, Asian nations have reportedly begun to implement early influenza vaccination programs that emphasize the simultaneous decrease of flu and COVID-19 infections, according to various published publications and news reports. Therefore, it is anticipated that active government backing will accelerate the market's growth rate during the projection period.

However, leading market firms like CSL Limited, Sanofi, and GlaxoSmithKline plc are increasing their R&D expenditures in order to boost their manufacturing capabilities and concentrate on the introduction of new vaccines, which is causing the industry to continue to grow. In November 2020, CSL Limited announced plans to erect a brand-new biotech manufacturing facility in Australia. This has facilitated the introduction of therapeutically effective vaccinations and has been assisted by the robust vaccination pipeline and increased government funding. Pharmaceutical companies are also focusing on supporting R&D to produce new potential vaccines. The pipeline candidate had excellent tolerance and consistency, according to the preliminary results from the Phase 1/2 clinical trial of Novavax, Inc.'s COVID-19-Influenza Combination Vaccine, which was released in April 2022. Thus, it is anticipated that this aspect will accelerate influenza vaccines market revenue globally.

Influenza Vaccines Market Segment Insights

Influenza Vaccines Influenza Type Insights

The Influenza Vaccines Market segmentation, based on influenza type, includes seasonal and zoonotic. The seasonal segment held the majority share in 2022 in the Influenza Vaccines Market data. The influenza viruses that cause seasonal flu are acute respiratory infections that can spread to anyone, anywhere in the world. It represents the annual burden of sickness. It results in illnesses of various degrees of severity, which can occasionally induce hospitalization and death.

Figure 2: Influenza Vaccines Market, by Influenza Type, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Influenza Vaccines Manufacturing Technology Insights

The Influenza Vaccines Market segmentation, based on manufacturing technology, includes egg-based, cell culture-based and recombinant-based. The cell culture-based segment dominated the market growth for influenza vaccines in 2023 and is projected to be the faster-growing segment during the forecast period, 2024-2032. The elements that contribute to the increase in surgical procedures worldwide because cell banking facilities are accessible make producing influenza vaccines using the cell-based approach more adaptable.

Influenza Vaccines Vaccine Type Insights

The Influenza Vaccines Market data, based on vaccine type, includes quadrivalent influenza vaccines and trivalent influenza vaccines. The quadrivalent influenza vaccines segment dominated the influenza vaccines market revenue in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The strong efficacy against viral infections, cost effectiveness, and easy accessibility in clinics and hospitals are the main drivers of the segment's high growth rate. Additionally, the increasing preference for quadrivalent vaccines among medical professionals is anticipated to promote segment expansion.

Influenza Vaccines End User Insights

The global influenza vaccines industry, based on end user, includes hospitals & clinics, research organizations & academic institutes and others. The hospitals & clinics segment dominated the market for influenza vaccines in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Factors include the prevalence of flu vaccination programmes at hospitals and pharmacies and the fact that most mass vaccination campaigns are held at smaller facilities. Additionally, it is projected that a sizable vaccination supply from hospitals will create lucrative income potential for the sector.

News

The German business Boehringer Ingelheim won a contract to provide France with an avian influenza vaccine, and French animal health company Ceva lost the bid. France chose Boehringer Ingelheim to provide the 80 million dosages of avian influenza vaccinations required for its maiden duck vaccination campaign, which is set to begin in October. According to the plan, France will be the first nation in the European Union to immunize chickens against the virus that has decimated flocks worldwide. According to a statement released by the firm late last week, Ceva decided not to pursue an appeal against the outcome of the competition to avoid delaying the vaccination program for the livestock industry.

Influenza Vaccines Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America influenza vaccines market accounted for USD 3.4 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. This is ascribed to the region's elevated influenza prevalence, the government's increasing attention to immunization programs, the development of new vaccines, and the expansion of technology breakthroughs for the delivery of vaccines. Additionally, the rising incidence of influenza infection in the United States and Canada and the rising sales of influenza vaccinations in the area are anticipated to fuel market expansion.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: INFLUENZA VACCINES MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific influenza vaccines market accounts for the second-largest market share. It is projected that the rising population in the APAC region's nations will increase demand for influenza vaccinations, propelling the market in the area. The region's expansion is also made possible by expanding government measures to distribute flu vaccines and greater knowledge of influenza. Moreover, China influenza vaccines market held the largest market share, and the India influenza vaccines market was the fastest growing market in the region.

Europe influenza vaccines Market is expected to grow at the fastest CAGR from 2022 to 2030. This is a result of greater immunization rates among the European population brought on by the expansion of vaccination coverage for high-risk individuals. Further, the UK influenza vaccines market held the largest market share, and the Germany influenza vaccines market was the fastest growing market in the region.

Influenza vaccines Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the influenza vaccines market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the influenza vaccines industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global influenza vaccines industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, influenza vaccines industry has provided medicine with some of the most significant benefits. The influenza vaccines market major player such as GlaxoSmithKline PLC (UK), Abbott Laboratories (US), Seqirus (UK), Mylan NV (US), AstraZeneca (UK) and Hualan Biological Engineering Inc. (China).

With considerable research and production know-how and manufacturing facilities in the US, UK, and Australia, CSL Seqirus is a transcontinental partner in pandemic preparedness and a significant contributor to influenza prevention internationally. In March 2022, Flucelvax quadrivalent, a cell-based influenza vaccines for those two years of age and older, has been approved, according to Seqirus. Children between the ages of 2 and 18 are eligible for these vaccinations thanks to Health Canada's permission.

The global headquarters of the multinational British pharmaceutical and biotechnology business GSK plc, formerly known as GlaxoSmithKline plc, are located in London, England. SmithKline Beecham and Glaxo Wellcome merged to form this company in 2000. In February 2021, to create monoclonal antibodies for the prevention and treatment of influenza, GlaxoSmithKline plc increased its previous partnership with Vir Biotechnology.

Key Companies in the influenza vaccines market includes

• GlaxoSmithKline PLC (UK)


• Abbott Laboratories (US)


• Seqirus (UK)


• Mylan NV (US)


• AstraZeneca (UK)


• Hualan Biological Engineering Inc. (China)

Influenza Vaccines Industry Developments

March 2022: Fluzone is a high-dose influenza vaccination introduced by Sanofi. The flu shot gives defense against four different types that are present in Australia.

February 2020: A novel inactivated quadrivalent vaccination from Abbott was released for use in children under three. With this new introduction, the business increased the scope of its existing pharmaceutical product and distributed flu vaccinations to important markets like India.

Influenza Vaccines Market Segmentation

Influenza Vaccines Influenza Type Outlook (USD Billion, 2018-2030)

• Seasonal


• Zoonotic

Influenza Vaccines Manufacturing Technology Outlook (USD Billion, 2018-2030)

• Egg-based


• Cell culture-based


• Recombinant-based

Influenza Vaccines Vaccine Type Outlook (USD Billion, 2018-2030)

• Quadrivalent Influenza Vaccines


• Trivalent Influenza Vaccines

Influenza Vaccines End User Outlook (USD Billion, 2018-2030)

• Hospitals & Clinics


• Research Organizations & Academic Institutes


• Others

Influenza Vaccines Regional Outlook (USD Billion, 2018-2030)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America