Global Flu Vaccine Market - 2022-2029

Global Flu Vaccine Market - 2022-2029

Market Overview

Flu Vaccine Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 8.8% during the forecast period (2022-2029).

The flu vaccine is inactivated, indicating that it includes the killed influenza virus, or a recombinant vaccine, implying that it was made without exploiting virus particles. Flue vaccination is safe and effective. Healthcare providers infuse the vaccine into muscles or skin, encouraging the immune system to produce antibodies to the influenza virus. Medical professionals administer the ""flu shot"" vaccine as a single dose of liquid injected through the skin into the muscle. The health care professionals inject the flu vaccine into the deltoid muscle at the side of the arm, using alcohol rubbed over the skin for sterilization. Market players in the flu vaccines are increasing their R&D activities to develop innovative vaccines that can treat COVID-19. They are helping persons to refrain from visiting doctors amidst ongoing pandemics. Increased flu vaccine availability is expected to reduce the stress on healthcare systems and minimize exposure to COVID-19.

Market Dynamics: Sustained investments help to scale-up production of tailor-made flu vaccines

The demand for universal flu vaccines increases innovative science and financing to join forces to support exploit of untapped opportunities. The rapid arrival of influenza is expected to overtake the prevailing flu vaccine production technologies, resulting in increased costs of flu shots, which is comparatively ominous for individuals. Thus, there is a need for continuous investments in both technical and financial to innovate universal flu vaccines. The flu vaccines market's market players are focusing on upgrading the flu vaccine manufacturing processes to raise the production of tailor-made vaccines.

Flu vaccine is a Cost-efficient way to combat multiple viral strains. The single vaccine that safeguards against all flu is another groundbreaking concept gaining market players' traction in the flu vaccines market. Moreover, the manufacturers are increasing their focus on mini-HA (Hemagglutinin) antigens that include parts of the flu virus found in numerous other viruses. Universal flu vaccines assist in reducing the burden of yearly updates in flu shots, therefore, saving on costs for researchers and pharma companies.

Market Segmentation: The whole virus segment accounted for the highest share in global flu vaccine market.

The flu vaccine market has been classified into whole virus vaccines, split virus vaccines, subunit vaccines, and live attenuated virus vaccines based on the vaccine.

The whole virus vaccines segment held a dominant position with a major share in terms of value in the global market and is projected to remain at its position over the forecast period. Whereas the live attenuated virus vaccines segment is projected to record a considerable growth rate in the global market during the forecast period, owing to the increasing adoption of advanced vaccines for prevention purposes.

The flu vaccine market has been classified into anti-intrusion bars, heat exchangers, sound insulation, and others based on the application.

Adults and Children over 3 year’s segment dominated the global flu vaccine market in the forecast period. The adults and children aged 3 years and above segment are estimated to contribute the maximum share in terms of value in the target market due to increasing incidences of flu viruses among adults and children over 3 years of age globally.

Geographical Penetration: North America is the dominating region during the forecast period.

The North America market is estimated to hold the dominant position in the global flu vaccines market. This is due to the governments increasing initiatives, such as health programs for expanding awareness concerning influenza, its possible effects, and flu vaccination in countries in the region. Highly developed healthcare infrastructure and the existence of favorable reimbursement policies in countries such as Canada are additional factors projected to boost market growth in countries in the region. Various key players in the region started new trials for the universal flu vaccine. For instance, in June 2022, a new trial for the universal flu vaccine started at NIH Clinical Center in phase 1. This study examines the safety of BPL-1357 and assesses the importance of mucosal immunity against flu and whether a strategy of inducing both the cellular and antibody arms of the immune system can provide broader protection against the ever-changing influenza virus

The Asia Pacific flu vaccine market is projected to gain a significant share in the global market over the forecast period due to increasing awareness regarding flu vaccination and government initiatives for free flu vaccinations in countries in the region. Moreover, the increasing patient pool for flu in several developing and poorly developed countries is expected to support the growth of the market in the region.

Competitive Landscape:

The flu vaccine market is highly competitive, owing to the presence of big food brands. The critical flu vaccine players which are contributing to the growth of the global market include AstraZeneca, GlaxoSmithKline PLC, Sanofi, Abbott Laboratories, Seqirus, Mitsubishi Tanabe Pharma, Serum Institute of India Pvt. Ltd, Mylan NV, GDK Biotechnology, Hualan Biological Engineering Inc., Adimmune Corporation, Sinovac Biotech, and Changchun Institute of Biological Products, among others. The major players are adopting new launches based on new material launches and expansion strategies for global growth in the flu vaccine market. Some major key players follow merger and collaboration strategies to expand their business. For instance, in May 2022, GSK acquired clinical-stage biopharmaceutical company Affinivax, Inc. This acquisition provides access to next-generation 24-valent pneumococcal vaccine candidates in phase II development and highly innovative MAPSTM technology. This acquisition also supports a strong portfolio of innovative vaccines and specialty medicines. In July 2022, GSK entered into an agreement with the Government of Canada for the influenza vaccine. The company supplies nearly 80 million doses of Arepanrix and 16 million doses of Flulaval Tetra under the deal. The company intends both vaccines from its 230,000ft² Sainte-Foy facilities in Quebec. In February 2020, Abbot launched a new vaccine for wide protection against influenza. This vaccine offered wide coverage protection against four flu virus strains for children and adults versus three strains in the previous generation. This vaccine is approved for only children below the age of 3 years. It is effective against four different flu virus strains.

COVID-19 Impact: Positive impact on the global flu vaccine market.

Covid 19 vaccine is not available in the market at the initial stage of the pandemic, so there is interest in assessing the role of the influenza vaccine in COVID-19 susceptibility and severity. The possibility of testing positive for Covid 19 was reduced in patients who received an influenza vaccine compared to those who did not by 24%. Patients vaccinated with the flu vaccine were less likely to require hospitalization or mechanical ventilation and had a shorter hospital length of stay. The flu vaccine reduces the burden of Covid 19. Some manufacturers increase their sales during the pandemic. For instance, in October 2020, Sanofi's Q3 was boosted by record growth in flu vaccine sales and Dupixent success. Sales for influenza vaccines alone grew by a record 44.9% to €1.07 billion during the quarter, which managed to partially offset the impact of the COVID-19 outbreak on the meningitis vaccine Menactra and its adult booster and travel vaccines.

The global flu vaccine market report would provide an access to approximately 61 market data tables, 57 figures and 170 pages