The Global Influenza Vaccine Market was estimated to grow at a CAGR of 5.9% during the forecast period 2019-2026. As per the detailed market study, the global influenza vaccines industry is anticipated to reach $6.20 billion by the end of the year 2026.
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Vaccine are used in various regions on the basis of regional disease-prevention strategies. Vaccines are administered to strengthen the human immune system and provide protection against various infectious diseases. Influenza is a viral infection in respiratory system, which can be caused due to four types of influenza viruses include A, B, C and D.
The global influenza vaccine market is driven by various growth factors such as increase in prevalence of influenza, technological advancements considering vaccine administration and increasing government focus on immunization activities. Whereas, strict regulatory scenario, long approval process and high cost incurred in vaccine development hinder the market growth over the forecast period. On the contrary, introduction of vaccines and unexplored potential in the emerging nations offer lucrative opportunities for the market players operating in the global influenza vaccine industry.
Overall vaccine market is witnessing a growth rate of ~10%. The substantial growth rate of the overall vaccines industry is attributed to increasing investment in vaccine development, growing concentration of market players in the industry and increase in speed of vaccine production. Hence, influenza vaccine development has smooth pathway due to development of overall market infrastructure globally.
Segmentation Overview of the Global Influenza Vaccine Market
The global influenza vaccine market has been studied on the basis of various segmentations such as vaccine type, type, technology, age group and route of administration. These major market segments are further categorized into various sub-segments to study the market in detail.
The Vaccine Type Segment of the Global Influenza Vaccine Market is Sub-Segmented into:
- Trivalent
- Quadrivalent
The Type Segment of the Global Influenza Vaccine Market is Sub-Segmented into:
- Pandemic
- Seasonal
The Technology Segment of the Global Influenza Vaccine Market is Sub-Segmented into:
- Cell-based
- Egg-based
The Age Group Segment of the Global Influenza Vaccine Market is Sub-Segmented into:
- Adult
- Pediatric
The Route of Administration Segment of the Global Influenza Vaccine Market is Sub-Segmented into:
- Nasal Spray
- Injection
Geographical Overview of the Global Influenza Vaccines Market
The North America influenza vaccines market dominated the global marketplace with ~50% of the market share during the forecast period. On the other hand, the LAMEA influenza vaccines market is estimated to grow at the fastest growth rate with a CAGR of 7.5% during the forecast period 2019-2026. The regional market growth is attributed to various growth factors such as increase in pace of economic developments and development of better healthcare facilities across the region.
Key Players Insights of the Global Influenza Vaccines Market
Sanofi Pasteur, Imutex, GlaxoSmithKline (GSK), FluGen, Seqirus (CSL Limited), Altimmune, AstraZeneca, Daiichi–Sankyo, Mylan, Pneumagen, Gamma Vaccines Pty Ltd., Moderna Inc., Hualan Biological Engineering Inc., Medicago, Shanghai Institute of Biological Products Co., Ltd., BiondVax Pharmaceuticals Ltd., BioDiem and Novavax are some major key players included in the research study of the global influenza vaccines market.
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