IMARC Group, a leading market research company, has recently releases report titled “Influenza Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global influenza vaccine market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Influenza Vaccine Market?

The global influenza vaccine market size reached US$ 6.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 12.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.

Factors Affecting the Growth of the Influenza Vaccine Industry:

• Increasing Awareness and Government Initiatives:

The rising awareness about the importance of influenza vaccination is one of the major factors boosting the market growth. Moreover, the introduction of several public health campaigns and educational programs by governments and health organizations to inform the population about the benefits of vaccination is boosting the market growth. Moreover, the rising recommendation of seasonal influenza vaccination for certain groups, such as healthcare workers, the geriatric, and individuals with chronic illnesses, is stimulating the market growth. Besides this, the heightened government funding and subsidies for vaccine procurement and distribution that enhance accessibility and affordability are anticipated to drive the market growth.

• Rapid Advancements in Vaccine Technology:

The introduction of advanced techniques, such as cell-based and recombinant deoxyribonucleic acid (DNA) technology, is positively influencing the market growth. They offer several advantages, including shorter production times and the ability to respond to new influenza strains rapidly. For example, cell-based vaccine production does not rely on egg supply, thereby reducing the risk of shortages and enhancing the scalability of vaccine production. Additionally, the development of quadrivalent vaccines, which protect against four different influenza strains, representing a significant improvement over trivalent vaccines, which cover three strains is enhancing the market growth. Besides this, the continuous research and development (R&D) efforts focused on improving vaccine efficacy and delivery methods, such as intradermal and nasal spray vaccines, are stimulating the market growth.

• Rising Incidence of Seasonal Influenza and Pandemics:

The increasing incidence of seasonal influenza and the potential for pandemics are major factors driving the market growth. Seasonal influenza affects millions of individuals across the globe annually, leading to substantial morbidity and mortality, particularly among vulnerable populations such as young children, the geriatric, and individuals with compromised immune systems. In line with this, the rising economic burden associated with influenza, including healthcare costs and lost productivity, boosting the importance of preventive measures like vaccination is fostering the market growth. Furthermore, the emergence of pandemic influenza strains, highlighting the need for robust and scalable vaccine production capabilities, is catalyzing the market growth.

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Global Influenza Vaccine Market Trends:

The burgeoning integration of artificial intelligence (AI) and machine learning (ML) in vaccine development, personalization, and distribution to predict influenza virus mutations more accurately and rapidly is contributing to the market growth. Moreover, the increasing utilization of digital health technologies, including mobile health apps and wearable devices, to monitor vaccination coverage and effectiveness in real-time, providing valuable data for public health interventions, is favoring the market growth. Additionally, the rising partnerships and collaborations between pharmaceutical companies, biotech firms, and academic institutions to foster innovation and accelerate the introduction of novel vaccines are enhancing the market growth.

Influenza Vaccine Market Report Segmentation:

Breakup by Vaccine Type:

• Quadrivalent
• Trivalent

Quadrivalent represented the largest segment due to its broader protection against four influenza strains, enhancing its efficacy and appeal.

Breakup by Technology:

• Egg-based
• Cell-based

Egg-based accounted for the largest market share as it remains the most established and widely used method for producing influenza vaccines.

Breakup by Age Group:

• Pediatric
• Adult

Pediatric represented the largest segment as children are a key focus for influenza vaccination programs to prevent widespread outbreaks in schools and communities.

Breakup by Route of Administration:

• Injection
• Nasal Spray

On the basis of route of administration, the market has been divided into injection and nasal spray.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America's dominance in the influenza vaccine market is attributed to high healthcare expenditure, strong public health infrastructure, and extensive vaccination campaigns.

Who are the key players operating in the industry?

The report covers the major market players including:

• Abbott Laboratories
• AstraZeneca plc
• CSL Limited
• Daiichi Sankyo Company Limited
• Emergent BioSolutions Inc.
• F. Hoffmann-La Roche AG
• Gamma Vaccines Pty Ltd
• GlaxoSmithKline plc
• Merck & Co. Inc.
• Novartis AG
• Pfizer Inc.
• Sanofi
• SINOVAC

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