Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The U.S. influenza vaccines market, by vaccine type (Trivalent Vaccines and Quadrivalent Vaccines), by virus type (Influenza Virus Type A and Influenza Virus Type B) and by age group (Pediatrics and Adults), was valued at US$ 2.6 billion in 2019 and is foreseen to witness a tremendous CAGR of 16.1% over the forecast period (2019-2027).
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Availability of different vaccines, such as adjuvanted inactivated vaccines, live-attenuated vaccines, seasonal influenza vaccines, and pandemic influenza vaccines, is one of the primary growth propellers for the U.S. influenza vaccines market. The transition from trivalent to quadrivalent vaccine formulations, which is backed by extensive research & development, offers enhanced protection against flu strains. This is therefore a pivotal growth factor for the global market.
The development of innovative technologies is intended for scaling up the influenza vaccine production. Manufacturers across the globe are increasingly focusing on product development by using innovative technologies, such as the novel recombinant and cell-based vaccine production technologies, in an effort to expand their supply capacity. For instance, Protein Science Corporation received the FDA approval for its Flubok Trivalent vaccine in the U.S. in 2013. Flubok, for the record, is the only influenza vaccine produced using the recombinant technology. Furthermore, in 2016, Seqirus received the FDA approval for its Flucelvax quadrivalent, indicated for children aged above 4 years. Flucevax, for the record, is a four-strain, inactivated seasonal influenza vaccine, which is produced using the cell culture technology at the Holly Springs Facility in the U.S.
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With enhanced production capacity, several major problems can be addressed, such as vaccine shortage and inequitable access, which would thus reduce the cost of vaccines. For instance, in 2015, Seqirus Company, co-developed by bioCSL Limited and Novartis AG, majorly focused on vaccine production for pandemic preparedness, as well as for the prevention and control of influenza around the world. Increasing R&D investments are contributing to the development of innovative technologies and thus boosting product diversification. For instance, GlaxoSmithKline Plc is currently focused on R&D for the production of innovative influenza vaccines. The company has two pipeline products for influenza treatment via intravenous administration, namely, Relenza, which is presently undergoing the Phase III trial, and Danirixin, going through the Phase II trial. Moreover, constant improvements on formulation and production levels, by the key players for the development of influenza vaccines, is expected to boost the growth of the U.S. influenza vaccines market in the foreseeable future. According to the Health Industry Distribution Association, 2016, vaccine manufacturers in the country produced around 174.5 million doses for the 2015–16 influenza season.
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Key Market Takeaways:
- The U.S. influenza vaccines market growth is primarily driven by the rising awareness about vaccination to reduce the substantial health burden of the disease.
- Among vaccine types, the quadrivalent vaccines segment held the foremost position in the U.S. market in 2016, owing to the higher disease coverage by the vaccine, coupled with growing production capacity.
- Among the different age groups, the adults segment is poised to dominate the regional market, owing to the escalating adult population, and higher availability and easy approval of the influenza vaccines in the country.
- The key players operating in the U.S. influenza vaccines market are Sanofi Pasteur, Seqirus Vaccines Ltd., GlaxoSmithKline Plc., and Medimmune.
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