Influenza Vaccines Market, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus A and Influenza Virus B), by Age Group (Pediatrics and Adults), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
Influenza is an infection caused by influenza virus and is commonly known as flu. Vaccination for influenza aids in prevention of flu. This vaccine is recommended for children aged 6 months and older. Moreover, according to the World Health Organization (WHO), influenza virus is transmitted primarily by respiratory secretions or droplets of the infected person. It has an annual global attack rate of 5-10% in adults and 20–30% in children. Influenza vaccines are available with a wide range of options for different age groups such as children aged 6 months and above and adults aged 65 and above. According to the Centers for Disease Control and Prevention (CDC), 2021, in the U.S., 1,675 (0.2%) of 818,939 respiratory specimens were tested positive for an influenza virus. There are various type of vaccine type such as the trivalent vaccine (TIV) which contains one influenza B antigens and The Quadrivalent influenza vaccine (QIV) contains two influenza B antigens.
Market Dynamics
Investments by the key players in influenza vaccines market, in order to develop new innovative technologies and to increase production capacity is expected to drive the market growth. For instance, in December 2019, the U.S. Department of Health and Human Services (HHS) announced that it has invested US$ 226 million, a six-year contract, to increase the capacity to produce recombinant influenza vaccine in the U.S. The manufacturing of vaccines will be initiated through a public-private partnership between the Biomedical Advanced Research and Development Authority (BARDA), part of the HHS Office of the Assistant Secretary for Preparedness and Response (ASPR), and Sanofi Pasteur which is pharmaceutical company.
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