The global influenza vaccine market size was valued at USD 5,117.24 million in 2020 and is projected to reach USD 11,276.32 million by 2030, registering a CAGR of 7.67% from 2021 to 2030. The viral infection which occurs due to flu in the respiratory system is called influenza. The influenza virus travels through respiratory droplets and is contagious. It can also spread from one person to another while talking or in physical contact. The influenza virus circulates continuously, causing regional epidemics and outbreaks, which lead to thousands of deaths. The changing character of the virus is compelling an annual change in the vaccine strain to match the influenza virus strain. Healthcare organizations all over the world, like the Centers for Disease Control and Prevention (CDC), have suggested vaccines like baloxavir marboxil (Xofluza) for the treatment of influenza have recommended certain influenza vaccines such as baloxavir marboxil (Xofluza) to treat the symptoms in patients.
The COVID-19 outbreak is anticipated to impact the global influenza vaccine market’s growth positively. The population affected by the COVID-19 virus increases, increasing the demand for influenza vaccines. The influenza vaccine will not prevent COVID-19 but decrease illness, death, and hospitalization. According to the European Congress of Clinical Microbiology & infectious diseases (ECCMID), in 2021, it was reported that around 75,000 COVID-19 patients having a shot of influenza vaccine are less prone to sepsis, stroke, and deep vein thrombosis. As per the same source, in 2021, it was observed that the flu vaccine might offer protection against the COVID-19 virus. The patient suffering from COVID-19 and vaccinated with influenza vaccine is also less likely to be admitted to the intensive care unit. Subsequently, this leads to an increase in demand for the influenza vaccine.
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The vaccines used for influenza are three different influenza viruses: type A with H3N2 virus strain, type A with H1N1 virus strain and type B virus strain. An increase in the prevalence of influenza epidemics and seasonal outbreaks is likely to expand the product sales during the projected period.
An increase in government support and surveillance regarding vaccination against influenza on the national and global levels to monitor the supply, distribution, and administration of flu vaccines is one of the crucial factors driving the market growth. Moreover, an increase in investment by leading market players across the globe and a rise in government funding has facilitated the launch of therapeutically effective vaccines drive the influenza vaccine market growth.
The immunization camps and programs conducted by various healthcare organizations have been affected due to the coronavirus pandemic. The vaccination rates for flu have peaked in the pandemic due to a push by various healthcare operatives and governments who are providing free vaccination to the citizens. Awareness has also raised amongst the populations due to the fear of flu and COVID-19.
Novel vaccine development is a huge process that generally takes about 10-15 years to develop and establish its safety and efficacy. Regulatory requirements for clinical trials vary in countries, which may delay the development of vaccines and limit the market’s growth.
Many companies like Sanofi, Emergent BioSolutions Inc., and F. Hoffmann-La Roche Ltd are also helping in the distribution. On the other hand, many countries face undersupplies and delay in the approvals of vaccines and availability of vaccines due to the strict regulations during the clinical trials extending the timelines of vaccines delivery.
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Global Influenza Vaccine Market Segmentation:
The influenza vaccine market is segmented into vaccine type, technology, age group, route of administration, and region. By vaccine type, it is divided into quadrivalent and trivalent. By technology, it is classified into egg-based and cell-based. By age group, it is divided into pediatric and adult. By route of administration, it is categorized into injection and nasal spray. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).
By Vaccine Type
By vaccine type, it is divided into quadrivalent and trivalent. The quadrivalent type segment was the major revenue contributor in 2020, owing to its ability to immunize four influenza virus strains (two A subtypes and two B subtypes — H1N1 and H3N2 and Victoria and Yamagata, respectively). By technology, it is classified into egg-based and cell-based.
The egg-based technology segment dominates the technology segment as it is most commonly used to produce both inactivated and live-attenuated vaccines. By age group, it is bifurcated into pediatric and adult. The adult age group segment was the highest contributor in the influenza vaccine market in 2020 and is expected to remain dominant during the forecast period, owing to higher risks of developing serious complications from influenza due to weaker immune responses.
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By Age Group
By Route Of Administration
- Nasal Spray
- North America
- The US.
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- The Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East and Africa
North America accounted for the largest influenza vaccine market share in 2020 and is expected to retain its dominance throughout the forecast period. This is attributed to the increased prevalence of influenza in the region, increased government focus on immunization programs, the emergence of new vaccines, and growth in technological advancements for vaccine administration. However, the Middle East and Africa are expected to emerge as lucrative areas with maximum growth potential due to increased awareness programs, improvement in healthcare facilities, available disposable income, and rapid development of economic conditions.
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Global Influenza Vaccine Market Report Key Players:
- Astrazeneca Plc (Astrazeneca)
- Csl Limited (Seqirus GmbH)
- Emergent Biosolutions
- F. Hoffmann-La Roche Ltd.
- Gamma Vaccines Pty Ltd.
- GlaxoSmithKline Plc
- Merck & Co., Inc. (Merck Sharp & Dohme Corp.)
- Novartis Ag
- Pfizer, Inc.
- Sinovac Biotech Ltd.