Influenza Vaccine Market Size (2024 - 2029)

Influenza Vaccines Market Analysis

The Influenza Vaccine Market is expected to register a CAGR of 5.65% during the forecast period.

COVID-19 outbreak had a significant impact on the growth of the market during the pandemic period. The demand for influenza vaccine was notable during the pandemic as the SARS-CoV-2 affects the infected patient's respiratory system. Such circumstances significantly impacted the market's growth, giving rise to the demand for influenza vaccines during the pandemic. For instance, the BW article published in November 2021, mentioned that Apollo hospitals and Fortis Healthcare were also witnessing higher demand for flu shots, including Abbott's imported vaccine, influvasc, the private hospital operators. Such a surge in demand for influenza vaccines during the pandemic period notably impacted the market growth. In addition, the demand for the influenza vaccine is expected to remain intact during the post-pandemic period, thereby contributing to the market's growth over the forecast period.

The increasing number of influenza cases worldwide is expected to drive the demand for influenza vaccines, thereby contributing to the market's growth. For instance, the Global Flu data published in February 2022 mentioned that an estimated 1 billion people worldwide are infected by seasonal influenza every year. The report also said that out of those 1 billion, about 3 to 5 million people have a severe case of flu every year. Additionally, according to the data published by WHO in December 2022, 5%-15% of the population is affected by influenza in the European region every year. Likewise, the Plos One Journal article published in July 2021 mentioned that approximately 5%-10% and 20%-30% of new cases of influenza infections occur among adults and children, respectively, annually. Such a high prevalence of influenza is expected to contribute to the market's growth over the forecast period.

The growing number of government investments to increase production capabilities for the influenza vaccine has been the key market driver for influenza vaccines. For instance, in March 2022, the Australian government invested more than 100 USD million in the seasonal influenza vaccine to protect people at risk. Moreover, major healthcare companies are investing vast amounts of capital and time in developing advanced therapy in the form of vaccines. For instance, in August 2021, Seqirus invested in Next-generation influenza vaccine technology, self-amplifying mRNA. The company targeted the commencement of clinical trials for both seasonal and pandemic influenza vaccines.

However, the huge cost involved in R&D and the extended timeline required for introducing a new vaccine may hinder the market growth for influenza vaccines.

Influenza Vaccines Industry Segmentation

As per the scope of the report, Influenza is a viral infection that attacks the human respiratory system, including the nose, throat, and lungs. Influenza is recognized as a crucial cause of morbidity and mortality across the world. The increasing prevalence of influenza and the growth in research funding for developing new medications are the major factors driving the Influenza Vaccine Market. 

The Influenza Vaccine Market is Segmented by Vaccine Type (Quadrivalent and Trivalent), Type (Seasonal and Pandemic), Technology (Egg-based and Cell-based), Age Group (Pediatric and Adults), Route of Administration (Injection and Nasal Spray), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (USD million) for the above segments.