According to the report “Global Influenza Market,” published by Market Data Forecast, the global market is projected to reach USD 9.33 billion by 2021 from USD 5.97 billion in 2016, at a CAGR of 8.54% from 2016 to 2021.
Influenza is an acute viral infection of the respiratory tract which is considered to be one of the life-threatening infectious diseases. In certain countries, seasonal influenza affects up to 40% of the population every year, with the worldwide death toll of 500 million people. The virus can be transmitted by direct contact with infected individuals, via contaminated objects (also called fomites) and by inhalation of virus-laden aerosols.
An unexpected emergence of a new and highly virulent influenza virus strains can result in a world-wide pandemics with high morbidity and mortality – such as the “avian flu” in 1997 and “swine flu” in 2009. Throughout history, some influenza pandemics were extremely devastating; for example, the 1918–1919 influenza pandemic has killed more people in absolute numbers than any other disease outbreak in history.
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Global Influenza Market: Drivers & Restraints
The growth of Influenza market is majorly driven by factors such as boost in Research & Development investment, rising public awareness, increase in healthcare expenditure, cost-effectiveness of immunization, introduction of new medicines, and increasing government initiatives for vaccination against influenza viruses. Additionally, a large section of population, especially in Asian and African countries are not immunized against influenza virus, thereby fueling the demand for the product in developing and under developed economies. The key restraints of the market are antigenic shift of influenza virus, complex regulatory framework, lack of cold storage facility, side-effects of the product (soreness, swelling, and redness), lack of advanced technology for early detection of new influenza virus, and remote areas with limited accessibility.
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Global Influenza market: Segmentation
- Safety Biomarkers
- Efficacy Biomarkers
- Validation Biomarkers
- Diagnostics Development
- Drug Discovery and Development
- Personalised Medicine
- Disease Risk Assessment
- Other Applications
- Cardiovascular Disorders
- Neurological Disorders
- Immunological Disorders
- Other Diseases
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Global Influenza market: Overview
The influenza virus has been implicated in infecting millions of individuals on an annual basis, with vaccination programs against seasonal influenza infections necessitating the manufacture of hundreds of million doses within a very short time period. The emergence of innovative production systems based on mammalian or insect cell cultures have resulted in surmount the hurdles associated with the egg-based production system. These industrially well-established production systems provide a faster and more flexible response to pandemic threats.
The existing range of influenza vaccines are produced in fertilized eggs, the embryo of which is infected in order that the virus can proliferate. Following a period of incubation, the virus is harvested and purified. This system of production is complicated and lacking in the event of a pandemic due to the possibility of generating low yields, not being amenable to rapid scale-up and being dependent on the availability of eggs. Global authorities have acknowledged problems associated with manufacturing vaccines based on eggs, resulting in creating a need for developing alternative vaccine production systems. The current scenario has been focusing on the development of manufacturing systems based on plants, bacteria, yeast and cell cultures.
Vaccines account for about 80% of the influenza market while therapeutics account for the remaining. However, therapeutics segment is projected to be the fastest growing with a CAGR of 11%.
Global Influenza market: Region-wise Outlook
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Middle-East and Africa. North America is expected to command the major market share of 50% in 2016 whereas Asia Pacific is expected to have the highest CAGR.
Key Questions Answered
- What is the current and future Influenza market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Influenza space globally?
- What are the key, high growth markets that Influenza Drugs manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Influenza Drugs currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook Influenza Drugs?
- What are the challenges and barriers that have hindered widespread adoption of Influenza Drugs?
Global Influenza market: Key Players
The major companies dominating the global Influenza Market are Sanofi-Pasteur (U.S.), AstraZeneca (United Kingdom), F. Hoffmann-La Roche (Switzerland), Novartis (Switzerland), GlaxoSmithKline (U.K.), Pfizer Inc. (U.S.), Merck & Co. (U.S.), Abbott Laboratories (U.S.), Mitsubishi Tanabe Pharma Corporation (Japan), CSL Limited (Australia).
Reasons to buy Global Influenza market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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