The North America influenza vaccine market size was valued at USD 3.65 billion in 2023. The growth of the influenza vaccine market is driven by an estimated 1 billion cases of seasonal influenza each year, including 3-5 million severe cases. 99% of deaths from influenza-related respiratory illnesses in children under 5 occur in developing countries.
Request a Sample Copy of the Report @ https://www.precedenceresearch.com/sample/3637
The influenza vaccine market is rapidly growing because to influenza vaccine is the best way to reduce the risk of contracting influenza and its possible consequences. Getting the influenza vaccine can also reduce the likelihood of spreading the influenza to others. There are 4 types of influenza: A, B, C, and D. Influenza A and B are contagious and cause seasonal epidemics. Most people recover from fever and other symptoms within a week without needing medical attention. However, influenza can cause serious illness or death, especially in high-risk groups. Seasonal influenza spreads easily and quickly in crowded areas such as schools and nursing homes. That's why it's important to monitor for the disease and get vaccinated quickly.
For Instance,
· In April 2023, Sinovac Biotech Co., Ltd. announced the recent commissioning of its new influenza vaccine manufacturing facility in Beijing. The factory follows China's Good Manufacturing Practices (GMP) guidelines and uses green manufacturing techniques to achieve large-scale electronics production, expand Sinovac's production capacity, and meet the growing global demand for effective influenza vaccines.
Key Takeaways:
· North America has generated highest revenue share of 47% in 2023. However, Asia-Pacific is expected to witness the fastest CAGR from 2024 to 2034.
· By vaccine type, the quadrivalent segment has captured highest revenue share of 65% in 2023. However, the trivalent segment is expected to grow at a CAGR of 10.1% from 2024 to 2034.
· By technology, the egg-based segment has accounted revenue share of 69% in 2023.
· By age group, the pediatric segment has captured revenue share of 59% in 2023.
· By route of administration, the nasal spray segment has accounted revenue share of 53% in 2023.
Access the Complete Report ToC@ https://www.precedenceresearch.com/table-of-content/3637
Buy This Research Report Study@ https://www.precedenceresearch.com/checkout/3637
Top Growth Factors in the Influenza Vaccine Market
· Rising Use of seasonal Vaccine: The rising use of seasonal influenza vaccines, where the primary goal is to prevent serious illness from influenza viruses, has led to the growth of the influenza vaccine market.
· Vaccination to Elderly People: Advances in effective influenza vaccination must include the development of vaccine resistance, especially in the elderly, which will lead to the growth of the influenza vaccine market dedicated to preventing influenza.
· Reduce Risk of Influenza: An influenza vaccine is the paramount way to diminish the risk of getting sick with influenza, this lead growth of influenza vaccine market.
Regional Stance
North America has the largest market share in terms of the burden of different influenza viruses, and influenza poses a significant burden on the health of Americans each year. The CDC estimates that flu will cause 9.3 million to 41 million illnesses, 100,000 to 710,000 hospitalizations, and 4,900 to 51,000 deaths each year between 2010 and 2023. New treatments and tools are being used medically, leading to the growth of the influenza vaccine market.
Asia-Pacific is expected to see the m fastest expansion as development of new influenza vaccines with better protection and increased production capacity is accelerating rapidly. However, concerns remain over the impact of seasonal flu and the low uptake of seasonal influenza vaccines in the Asia-Pacific region. The Indian pharmaceutical industry has helped support the growth of the influenza vaccine market by issuing mandates to increase vaccine manufacturing capacity in developing countries.
Rising Influenza Prevalence
The increasing number of influenza cases is a major factor in the growth of the influenza vaccine market. Although many people confuse the common cold with the flu due to symptoms such as headache, runny nose, and muscle aches, seasonal influenza is a serious illness that affects 650,000 people annually. The increasing awareness of severe colds, especially among vulnerable groups such as children, the elderly, pregnant women, and people with compromised immune systems, has highlighted the importance of vaccination and increased the world’s need for influenza vaccines.
Next-Generation Vaccines in the Influenza
The development of next-generation influenza vaccines presents significant opportunities for the influenza vaccine market. This vaccine is designed to provide long-lasting protection against current and future influenza viruses, including seasonal and preexisting viruses. These next-generation immunogens utilize optimization of the cross-linked immunogen (COBRA) approach to target multiple pathogens across multiple seasons. Utilizing novel HA and NA amino acid sequences derived from multiple consensus layers across various influenza subtypes, these multivalent formulations should provide broad immunity, driving innovation and growth in the influenza vaccine market.
Challenges in Production and Efficacy Vaccine
The growth of the influenza vaccine market is limited by several key challenges, including the reliance on vaccines derived from embryonated eggs, which leads to long production times. The need for annual vaccination due to the rapid evolution of influenza viruses and the emergence of new antigenic strains further complicates vaccine development. There is also an urgent need to enhance immunity in the elderly and establish a strong protective association. Together, these factors hinder the expansion and effectiveness of existing influenza vaccine strategies, thereby limiting the expansion of the influenza vaccine market.
Recent Breakthroughs in the Influenza Vaccine Market
Partnership of Sanofi and Novavax in Influenza Vaccine Market
|
Company Name |
Sanofi and Novavax |
|
Headquarter |
USA |
|
Recent Development |
In May 2024, Sanofi and Novavax announced an exclusive license agreement for the joint commercialization of a vaccine against COVID-19 and the development of a novel influenza-COVID-19 vaccine combination. Ability to accelerate the development of novel influenza-COVID-19 compounds as proven and long-term, cost-effective, approved vaccines provides patients enhanced convenience and protection. |
Partnership of GSK plc and CureVac N.V. in Influenza Vaccine Market
|
Company Name |
GSK plc and CureVac N.V. |
|
Headquarter |
United States |
|
Recent Development |
In July 2024, GSK plc and CureVac N.V. announced that they have converted their existing partnership into a new licensing agreement that allows each company to prioritize investment and focus on mRNA development. |
Acquisition of AstraZeneca and Icosavax, Inc. in the Influenza Vaccine Market
|
Company Name |
AstraZeneca and Icosavax, Inc. |
|
Headquarter |
United States |
|
Recent Development |
In February 2024, AstraZeneca announced the completion of the acquisition of Icosavax, Inc., a clinical-stage biopharmaceutical company in the United States focused on the development of differentiated medicines utilizing its protein vaccine-like virus (VLP) platform. Following this acquisition, Icosavax becomes a subsidiary of AstraZeneca and operates in Seattle, USA. |
Report Highlights
By Vaccine Type
· The quadrivalent segment holds the largest market because it is used to prevent influenza from both influenza A and influenza B strains.
· The trivalent segment is expected to expand at a significant CAGR during the forecast period as the trivalent provided greater protection against influenza and hospitalization in emergency rooms.
By Technology
· The egg-based segment held the largest market share as it can prompt a patient's immune system to direct antibodies at targets, or “epitopes,” on the vaccine viruses.
· The cell culture segment is expected to grow the fastest during the forecast period as cell-based vaccines rapidly produce vaccine products during pandemics.
By Route of Administration
· The nasal spray has the highest market value because it contains weakened (attenuated) viruses and therefore does not cause flu illness.
· The injection segment is anticipated to expand at the fastest rate over the projected period because it helps strengthen the immune system by producing antibodies, and vaccines contain proteins that protect against infections caused by bacteria.
Recent News in the Influenza Vaccine Market
· In September 2022, Pfizer announced that the first participants have been vaccinated in a pivotal Phase 3 clinical trial evaluating the effectiveness, safety, tolerability and immunogenicity of the company's flu vaccine quadrivalent modified RNA (modRNA) on approximately 25,000 healthy adults in the United States.
· In July 2024, Sanofi began shipping its first flu vaccine in the U.S. in preparation for the 2024/25 flu season. All of Sanofi’s flu vaccines in the U.S. are low-dose, meaning they protect against three common strains of influenza: two strains of influenza A and one strain of influenza B.
· In May 2024, Novavax, Inc., a global company developing vaccines using the Matrix-M adjuvant, signed an exclusive agreement with Sanofi.
Related Reports
· Influenza Drug Market Report 2024 to 2033 - https://www.precedenceresearch.com/influenza-drug-market
· Influenza Diagnostic Market Report 2024 to 2034 - https://www.precedenceresearch.com/influenza-diagnostic-market
Key Players of the Influenza Vaccine Market
· Sanofi Pasteur
· GlaxoSmithKline plc (GSK)
· Seqirus (a CSL Limited Company)
· Pfizer Inc.
· AstraZeneca
· BiondVax Pharmaceuticals Ltd.
· Novavax, Inc.
· Bharat Biotech
· Johnson & Johnson
· MedImmune, LLC (AstraZeneca)
· FluGen
· Mitsubishi Tanabe Pharma Corporation
· Emergent BioSolutions
· Sinovac Biotech Ltd.
· Bio Farma
Market Segmentation
By Vaccine Type
· Quadrivalent
· Trivalent
By Technology
· Egg-based
· Cell culture
By Age Group
· Pediatric
· Adult
By Route of Administration
· Injection
· Nasal Spray
By Geography
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa (MEA)
Access the Complete Report ToC@ https://www.precedenceresearch.com/table-of-content/3637
Buy This Research Report Study@ https://www.precedenceresearch.com/checkout/3637
USA : +1 804 441 9344
APAC : +61 485 981 310 or +91 87933 22019
Europe : +44 7383 092 044
Email : sales@precedenceresearch.com
