June 25, 2024
Influenza Vaccines Market

Influenza Vaccines Market is expected to be Flourished by Demand for Preventive Care

The global influenza vaccines market is used for reducing the risk of flu infection and aims to eradicate influenza viruses and mitigate their health and economic effects. Influenza vaccines reduce severe illness, hospitalizations, and deaths associated with seasonal influenza. There are several types of influenza vaccines available in the market including trivalent, quadrivalent, cell-based influenza vaccines, and recombinant influenza vaccines. The influenza vaccines are administered through three routes: intradermal, intramuscular, and intranasal. The rising adoption of preventive care practices and growing awareness about influenza immunization have resulted in an increase in influenza vaccination rates across the globe.

The global influenza vaccines market is estimated to be valued at US$ 7,161.38 billion in 2024 and is expected to exhibit a CAGR of 33.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing global demand for preventive care and government initiatives promoting influenza vaccination programs are key factors driving the growth of the influenza vaccines market. Government bodies have been organizing various awareness campaigns for influenza vaccination, which has resulted in increased vaccination rates worldwide. For instance, in 2018, the U.S. Centers for Disease Control and Prevention (CDC) launched a campaign called, ‘Take 3 Actions to Fight the Flu,’ to encourage more people to get vaccinated against flu each year.

The increasing adoption of recombinant influenza vaccines (RIVs) due to their production advantages over egg-based vaccines is another driver of market growth. RIVs can be produced faster than traditional egg-based vaccines and may offer cross-protective immunity against drifted seasonal strains. They also eliminate the need to predict and match strains used to manufacture vaccines with strains that will circulate in the upcoming season. This makes RIVs more reliable in protecting against seasonal flu.

Segment Analysis
The influenza vaccines market is dominated by the quadrivalent flu vaccines sub segment. Quadrivalent flu vaccines target four strains of influenza virus as compared to traditional trivalent flu vaccines which target three strains. They provide broader protection against the influenza virus as they protect against an additional strain. Thus quadrivalent vaccines have emerged as an important upgrade over trivalent vaccines.

PEST Analysis
Political: Regular monitoring and recommendations by health organizations like WHO regarding influenza strains to be targeted in upcoming flu seasons helps governments and vaccine makers with policymaking and vaccine manufacturing.

Economic: Rising healthcare spending globally has increased demand for influenza vaccines. Developed markets remain the major revenue generators currently due to higher access and affordability.

Social: Increasing awareness about the importance of preventing influenza infection through vaccination is driving demand. Regular social media/communication campaigns by governments and health organizations aid awareness creation.

Technological: Enhanced R&D is helping introduce newer pipeline candidates with improved immunogenicity and cross-protection against multiple influenza strains. This is expected to enhance adoption.

Key Takeaways
The Global Influenza Vaccines Market Size is expected to witness high growth over the forecast period driven by rising cases of influenza infections globally.

Regional analysis indicates North America will likely dominate the market through 2031 supported by widespread vaccination programs and availability of vaccines.
Asia Pacific is expected to witness the fastest growth supported by rising healthcare investments, expanding vaccination programs, and growing public-private partnerships in major markets like India and China.

Key players operating in the influenza vaccines market are Integra LifeSciences Corporation, AbbVie Inc., Johnson & Johnson, HansBioMed, Becton, Dickinson and Company, Cook Group, Smith & Nephew Plc., Reprise Biomedical, Organogenesis Holdings Inc., Tissue Regenix, LifeNet Health, Zimmer Biomet Holdings, Inc., Stryker Corporation, MiMedx Group, PolyNovo Limited, Fidia Pharma USA Inc., Baxter International Inc., In2Bones Global, BioHorizons, Inc., Harbor MedTech, Inc., MLM Biologics Inc., Geistlich Pharma AG, Olaregen Therapeutix, Inc., EnColl Corporation, Kerecis limited, DSM, ACell Inc., 3M, Cell Constructs I, LLC, CG bio Inc., and Marine Polymer Technologies, Inc.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it