Influenza Vaccination Market Size Share and Trends Analysis By Type (Seasonal, Pandemic), Technology (Egg Based, Cell Culture, Recombinant), Vaccines (Fluzone, Flumist, Fluvirin, Fluvax), and End-Users (Hospitals, Research Organizations) – Forecast till 2023.
Market Overview
The Global Influenza Vaccination Market Size is slated to display a CAGR of 8.2% from 2017 to 2023 (forecast period). High prevalence of the disease is one of the biggest drivers of the market. This is exemplified by a report by the Centers for Disease Control & Prevention (CDC), more than 65% of the population in the U.S. were affected with the virus in 2016. Other factors which can elicit the market demand include the growing elderly populace, awareness of the virus, and large healthcare expenditure.
Influenza is a virus which can affect the nose, throat, and lungs in humans. Some of the symptoms associated with influenza include nasal congestion, body aches, headache, cough, and fever. Influenza vaccinations can be administered to young and elderly patients to keep the disease at bay. The global influenza vaccination market report by Market Research Future (MRFR) highlights the trends and growth opportunities for current and future industry leaders.
Awareness campaigns launched by international health organizations such as World Health Organization (WHO) for reaching out to the most susceptible such as the elderly, pregnant women, and young children can bolster the market demand successfully. Development of a strong pipeline of drugs as well as encouragement of incubation programs for removing any drawbacks to the successful development of vaccines can lead to strong market growth.
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Influenza Vaccination Market Segmentation
The global influenza vaccination market is segmented by type, technology, vaccine, and end-user.
Based on the type of influenza, the market is segmented into seasonal, zoonotic, pandemic, and others.
Based on the manufacturing technology, the market is segmented into egg based, cell culture based, and recombination-based technology, and others.
Based on the vaccines, the market is segmented into flumist, fluzone, fluvirin, fluvax, and others.
Based on the end users, the market is segmented into academic institutes, hospital & clinics, research organization, and others.
Influenza Vaccination Market Regional Analysis
Asia Pacific (APAC), the Americas, Europe, and the Middle East & Africa (MEA) are the regions discussed with respect to the market report.
The Americas can capture a large market share by 2023 due to the large allocation of healthcare expenditure and the high disposable income levels of patients. The large geriatric populace and the large economies of the U.S. and Canada offer a plethora of opportunities for the market to expand. According to the National Institute of Health (NIH), the geriatric population numbers can touch 88 million by 2050.
Europe is the second-largest region due to a huge patient pool, well-developed healthcare infrastructure, and availability of ample funding for combating chronic diseases. Presence of major players such as Novartis AG can trigger innovation and induce development of vaccine for distribution among hospitals rapidly.
The APAC influenza vaccination market can thrive due to large economies of China and India. The large geriatric populace and supportive government policies are major drivers of the regional market growth. Lastly, the MEA region can offer huge potential due to low awareness levels among patients and unavailability of infrastructure for developing vaccine rapidly.
Influenza Vaccination Market Competition Outlook
DAIICHI SANKYO COMPANY, LIMITED, GlaxoSmithKline plc, Hualan Biological Engineering Inc, AstraZeneca, Abbott, BioCryst Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, Mitsubishi Tanabe Pharma Corporation, Novartis AG, Sanofi, and others are noteworthy participants of the global influenza vaccination industry.
Collaboration between research institutes and vaccine developing companies can culminate in a successful vaccine for the eradication of the virus. Studies are being conducted to assess the immune system and its responses to the various vaccinations. This can lead to different approaches for creating the vaccine design and lead to efforts with the public health community groups for disbursement of the vaccine.
Influenza Vaccination Industry News
Recently, the U.S. Food and Drug Administration (FDA) has approved the use of Fluzone influenza vaccine developed by Sanofi for adults at the age of 65 and above.
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