Market Overview:
The global influenza vaccine market is a multi-billion dollar industry that is expected to grow steadily in the coming years. The market is driven by several factors, including the increasing prevalence of influenza, rising awareness of the benefits of vaccination, and government initiatives to promote vaccination.
Global Influenza Vaccine Market size is expected to be worth around USD 6.2 Billion by 2022 from USD 12.6 Billion in 2032, growing at a CAGR of 7.58% during the forecast period from 2022 to 2032.
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Market key Takeaways:
- Inactivated vaccines dominate the market (92.83% market share), with the live attenuated vaccine segment growing at a slower rate due to industry challenges and specific patient restrictions.
- Quadrivalent vaccines exhibit the highest growth rate (7.11%) due to their effectiveness, accessibility, and cost-effectiveness, while trivalent vaccines lag behind.
- By Age Group, Adults account for a substantial share (78%) of the market, driven by immunization efforts and a growing geriatric population. The pediatric segment is expected to grow due to increased vaccination for infants.
- The global influenza vaccine market is projected to decrease in size from USD 12.6 billion in 2022 to USD 6.2 billion by 2032, with a CAGR of 7.58% over the forecast period from 2022 to 2032.
Market Key Players:
- Sanofi S.A.
- AstraZeneca plc
- CSL Limited
- BIKEN Co, Ltd.
- GlaxoSmithKline plc
- Abbott
- Sinovac Biotech Ltd.
- Viatris Inc.
Regional Analysis:
-North America [United States, Canada, Mexico]
-South America [Brazil, Argentina, Columbia, Chile, Peru]
-Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
-Middle East & Africa [GCC, North Africa, South Africa]
-Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]mailto:[email protected]
Market Top Segmentation:
By Type
- Live Attenuated
- Inactivated
By Valency
- Quadrivalent
- Trivalent
By Age Group
- Pediatrics
- Adults
By Route of Administration
- Injection
- Nasal Spray
By Distribution Channel
- Hospital Pharmacy & Retail Pharmacy
- Government Suppliers
- Other Distribution Channels
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Market Challenges:
Antigenic Drift and Shift: Influenza viruses constantly undergo genetic changes, leading to antigenic drift and shift. This means that the viruses' surface proteins, which are the targets of vaccines, can change over time, rendering existing vaccines less effective or even ineffective. This necessitates the continuous development and updating of influenza vaccines to match the circulating strains.
Vaccine Efficacy Variability: The efficacy of influenza vaccines can vary from season to season, depending on the match between the vaccine strains and the circulating strains. In some seasons, vaccines may be highly effective, while in others, they may offer only modest protection. This unpredictability can lead to public skepticism and decreased vaccination rates.
Egg-Based Vaccine Production Limitations: Traditional influenza vaccines are produced using chicken eggs, which can be a limiting factor in vaccine production capacity. This reliance on eggs can also lead to delays in vaccine availability and potential contamination issues.
High Cost of Vaccine Development: Developing new influenza vaccines is a costly and time-consuming process, often taking years and requiring significant financial investment. This high cost can be a barrier to entry for new vaccine manufacturers and can limit the availability of innovative vaccine technologies.
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