Report Sellers has added a new market research report “Global Influenza Vaccine Market – Industry Trends, Opportunities and Forecasts to 2023” to its offerings. The report is an in-depth market study providing accurate market insights including the latest trends, forecast, competitive insights, etc.
The global influenza vaccine market is projected to witness a CAGR of 6.93% during the forecast period to reach a total market size of US$4.613 billion by 2023, increasing from US$3.300 billion in 2018. The influenza, also called flu, is a contagious respiratory illness caused by influenza viruses that infect the nose, throat, and sometimes the lungs. It can cause mild to severe illness, and at times can lead to death. The major factors driving the demand for the market are basically the increasing awareness about the pandemic influenza viruses and the increasing government initiatives for vaccination against influenza. The major restrains of this market are variable demand, limited production capacity, a high level of required investment, and strict regulations present barriers to new entrants.
The development of quadrivalent vaccines has gained increased popularity lately. Influenza vaccines were designed to protect against three different flu viruses (trivalent). This included an influenza A H1N1 virus, an influenza A H3N2 virus and one B virus. But the trivalent vaccines did not cover the entire type B virus and as such, quadrivalent vaccines were developed. The addition of another B virus to the vaccine aims to give broader protection against circulating flu viruses.
The proliferation of influenza vaccine market grew rapidly in the USA on account of factors such as increased disease awareness, government regulations and policies favouring the vaccine consumption. Moreover, Asia Pacific market for influenza vaccine is projected to grow rapidly on account of increasing the coverage area, unlocking the untapped potential, and the rising government awareness programme.
The global influenza vaccine market is highly consolidated with major players dominating the market share. The entry is fairly restricted in the market due to strict regulatory compliance requirement. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.
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Children and Adolescent
Middle East and Africa
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