Influenza Vaccine Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Influenza Vaccine MarketThe influenza vaccine market size was valued at USD 7.97 billion in 2023, and the market is now projected to grow from USD 8.55 billion in 2024 to USD 17.77 billion by 2032, exhibiting a CAGR of 9.6% during the forecast period of 2024-2032.
COVID-19 bought a positive impact in the influenza vaccine market. Various awareness campaigns by government and pressure from healthcare departments for taking the vaccine fueled the demand of this vaccine. Moreover, the flu would weaken the immune system risking the body getting easily affected by COVID-19. Influenza vaccine Market growth also spurred due to the development of combination vaccine of COVID-19 and influenza which in turn lead to saving time and manufacturing cost.
Government from all over the world made various strategies and various funding campaigns making people aware of the health benefits from the vaccines. They kept track about the availaibility of the vaccines, funds, delivery and distribution of the vaccines. Big organizations like World Health Organizations were established for this purpose only, to work with the government in monitoring the demand of the vaccines.
Due to various outbreaks of influenza virus in the world, government is trying to come up with various policies and schemes which would help in increaseing the demand as well as dosage of the vaccines. New technologies are being used to make advanced and effective vaccines to curb the spread of virus. In developing counties which are on lower income, there have been various programs conducted for their immunization against infectious disease.
Comprehensive Analysis of Influenza Vaccine Market
Influenza vaccine market is divided into various segments based on their properties. On the basis of by type it is divided into inactivated and live attenuated. Based on by valencey it is classified into quadrivalent and trivalent. Based on the age group it is divided into adults and peditriarctic. And lastly on the basis of distribution channel it is divided into government suppliers, hospital and retail pharmacies, and others.
North America dominates the alrgest influenza vaccine market share in the world. The revenue generated by the region is around 4.28 billion in 2023. The reason for its dominance, advanced manufacturing system technology of the vaccin and rapid growth in the health awareness programs among the people.
Various key industry players to play an important role in the growth and expansion if the market are GlaxoSmithKline plc (U.K.), Sanofi (France), AstraZenca (U.K.), CSL Limited (Australia), BIKEN Co., Ltd. (Japan), Abbott (U.S.), SINOVAC (China), Viatris Inc. (U.S.).
In October 2023, a vaccine was introduced for both influenza and COVID-19 by Moderna Inc. based on m-RNA
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 9.6% from 2024-2032
Unit Value (USD Billion)
Segmentation By Type
Inactivated
Live Attenuated
By Valency
Quadrivalent
Trivalent
By Age Group
Pediatric
Adults
By Distribution Channel
Hospital & Retail Pharmacies
Government Suppliers
Others
By Region
North America (By Type, By Valency, By Age Group, By Distribution Channel, and By Country)
-U.S. (By Valency)
-Canada (By Valency)
Europe (By Type, By Valency, By Age Group, By Distribution Channel, and By Country/Sub-region)
-U.K. (By Valency)
-Germany (By Valency)
-France (By Valency)
-Italy (By Valency)
-Spain (By Valency)
-Scandinavia (By Valency)
-Rest of Europe (By Valency)
Asia Pacific (By Type, By Valency, By Age Group, By Distribution Channel, and By Country/Sub-region)
-Japan (By Valency)
-Korea (By Valency)
-China (By Valency)
-India (By Valency)
-Australia (By Valency)
-Rest of Asia Pacific (By Valency)
Latin America (By Type, By Valency, By Age Group, By Distribution Channel, and By Country/Sub-region)
-Brazil (By Valency)
-Mexico (By Valency)
-Rest of Latin America (By Valency)
Middle East & Africa (By Type, By Valency, By Age Group, By Distribution Channel, and By Country/Sub-region)
-GCC (By Valency)
-South Africa (By Valency)
-Rest of Middle East & Africa (By Valency)