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North America holds a significant share of the market for influenza vaccine due to the robust healthcare in the region. As countries such as the United States and Canada provide universal healthcare, the accessibility to influenza vaccines among all socioeconomic classes is increasing, thus augmenting the industry growth. Moreover, the initiation of various favourable initiatives by governments in the region is increasing the demand for optimal immunisation, hence escalating the demand for influenza vaccines. For instance, the Ontario Ministry of Health initiated the 2021/2022 Universal Influenza Immunisation Program (UIIP) to offer free influenza vaccination to individuals six months to 4 years of age. In addition, the heightened awareness regarding the importance of immunisation and vaccination in the region is surging the demand for influenza vaccine, thereby significantly contributing to the overall industry growth.
Pfizer Inc. (NYSE: PPE), one of the leading companies in the market, announced in September 2021 that the first participants were dosed in the Phase 1 clinical trial of a single dose quadrivalent mRNA vaccine against influenza. The trial evaluates the immunogenetic, safety, and tolerability of the vaccine that is developed by leveraging mRNA technology. The vaccine is expected to eliminate challenges of conventional vaccine development and allows for better strain match, improved efficacy, and heightened supply reliability. Moreover, the flexibility of mRNA technology is estimated to significantly boost the manufacturing of mRNA influenza vaccines. The program is also projected to enable the company to initiate the development of several mRNA vaccines for other infectious diseases in the wake of the COVID-19 pandemic. Such initiatives are anticipated to increase the availability and efficacy of influenza vaccines, which is predicted to drive the market growth in upcoming years.
Market Analysis by Vaccine Type, Technology, Age Group, Route of Administration, and Region:
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The major players in the global influenza vaccine market are AstraZeneca plc, Biodiem Limited, CSL Limited, Emergent BioSolutions Inc., F. Hoffmann-La Roche AG, Gamma Vaccines Pty Ltd, GlaxoSmithKline Plc., Merck and Co., Inc., Pfizer Inc., and Sanofi S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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