Global Influenza Vaccines Market - 2023-2030

Global Influenza Vaccines Market - 2023-2030

The global influenza vaccines market reached US$ 6.4 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 10.8 billion by 2030. The global influenza vaccines market is expected to exhibit a CAGR of 6.9% during the forecast period (2023-2030).

Influenza (flu) vaccinations (flu shots) are vaccines that protect against the four influenza viruses that are expected to be the most frequent during the upcoming season, according to studies. The majority of flu vaccines are ""flu shots"" administered through the needle, generally in the arm, however, there is also a nasal spray flu vaccine. Influenza vaccination efficacy can vary from season to season, based on factors such as vaccine-to-circulating strain match, individual age and health state, and other factors.

Market Dynamics
Rise in Receiving Influenza Vaccines
The rise in receiving influenza vaccines is one the key driver that helps the market to grow during the forecast period for instance according to the Centers for Disease Control and Prevention updated factsheet On March 4, 2023, 173.37 million doses of flu vaccination had been delivered in the United States for the 2022-23 season. Vaccine producers anticipate supplying the United States with 173.5 million to 183.5 million doses of influenza vaccine for the 2022-2023 season.

Based on the CDC's National Immunisation Survey-Flu, flu vaccine coverage for children aged 6 months to 17 years. As per Data updated on April 28, 2023. Vaccination coverage for all children as of April 15, 2023 (55.1%) is identical to the estimate at the same time in April 2022 (55.6%), 2.3 percentage points lower than the same time in April 2021 (57.4%), and 7.1 percentage points lower than the forecast at the same time in April 2022 (55.6%).

Increasing Clinical Trials For New Product Development By Market Players
Increased clinical trials for new product development by market participants are likely to boost growth in the worldwide influenza vaccines market over the forecast period. For instance, on May 25, 2022, Osivax, a biopharmaceutical firm researching vaccines against highly evolving infectious viruses and disorders, published an update on the clinical development strategy for its main candidate, OVX836, which is still in the early stages of development.

It is Osivax's T-cell-based influenza candidate, which was created utilising the company's proprietary oligoDOM nanoparticle technology platform and is intended to elicit immune responses against the nucleoprotein (NP), a highly conserved internal antigen across flu strains.

Longer Timeline For Vaccine Production
In addition to ensuring its safety, quality, and efficacy, novel vaccine development is a lengthy process that normally takes 10 to 15 years. Long timeframes are driven by three key factors: the difficulties of vaccine development, globalised clinical development, and different regulatory requirements. Clinical trial regulatory requirements vary greatly between nations. As a result, there may be severe delays in the development of innovative vaccinations.

COVID-19 Impact Analysis
The COVID-19 epidemic had a substantial influence influenza vaccine market during the pandemic era because SARS-CoV-2 have been affected the respiratory system of infected patients, and the demand for influenza vaccination was high during the epidemic. Such conditions had a considerable influence on market growth, driving up demand for influenza vaccinations during the pandemic. The coronavirus pandemic has an influence on worldwide regular immunisation programmes and campaigns in both developing and developed nations.

Russia-Ukraine War Impact Analysis
The Russia-Ukraine conflict is estimated to have a moderate impact on the global influenza vaccine market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global influenza vaccine market growth over the forecast period.

Segment Analysis
The global influenza vaccines are segmented based on the vaccine type, virus type, age group and region

Children from the Age Group Segment Account for 37.9% of the Market Share
The children from the age group segment with around 37.9% are expected to dominate during the forecast period. Children have the largest market share and are likely to expand at the quickest rate throughout the forecast period. The factors that can be linked to higher vaccination doses are given to newborn infants and children to protect them from influenza disease at a young age. WHO and the CDC have devised vaccination strategies such as delivering immunisations at a young age to all children globally because of the large increase in influenza infection and frequency rates in young children, many strategies have been developed to enhance influenza vaccination usage in this age group.

For instance, according to CDC the children who have received influenza vaccine vaccinations as of April 15, 2023, are classified according to their age, as follows: Coverage for children aged 6 months to 4 years is 7.9 percentage points greater than for children aged 5 to 12 years (63.7% vs. 55.8%). Children aged 13 to 17 years old scored 17.0 percentage points higher (63.7% vs. 46.8%). Coverage for children aged 5 to 12 years is 9.0 percentage points greater than for children aged 13 to 17 years (55.8% vs. 46.8%).

Geographical Analysis
North America Accounted for Approximately 38.2% of the Market Share
North America is estimated to hold about 38.2% of the total market share throughout the forecast period, owing to government agencies in the United States concentrating on collaborations to enhance the supply of influenza vaccinations. For example, as part of an inter-agency government effort in the United States, the Centres for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), the National Institutes of Health (NIH), and the U.S. Department of Health and Human Services Biomedical Advanced Research and Development Authority (BARDA) are collaborating to develop new and better influenza vaccines.

For instance, in Feb 2023, Access to Advanced Health Institute (AAHI) received funding of $9.9 million to develop a nasal spray influenza RNA vaccine through the Medical CBRN Defence Consortium (MCDC) Other Transaction Authority (OTA), the Access to Advanced Health Institute (AAHI) has received financing for a project agreement worth up to $9.9 million to develop a prototype intranasal bivalent influenza RNA vaccine candidate.

Competitive Landscape
The major global players in the influenza vaccines market include AstraZeneca PLC, CSL Limited, Abbott Laboratories, F.Hoffmann-La Roche Ltd, Emergent BioSolutions, GlaxoSmithKline PLC, Gamma Vaccines Pvt Ltd, Merck & Co, Pfizer Inc, Sanofi Pasteur SA among others.

Why Purchase the Report?
• To visualize the global influenza vaccines market segmentation based on the vaccine type, virus type, age group and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of influenza vaccines market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global influenza vaccines market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies