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Global Influenza Vaccine Market to Reach About USD 7.8 Billion by 2026, Aided by the Robust Healthcare Sector

According to a new report by EMR titled, ‘Global Influenza Vaccine Market Report and Forecast 2021-2026’, the global market for influenza vaccine attained a value of about USD 5.1 billion in 2020. The industry is further expected to grow at a CAGR of 7.34% in the forecast period of 2021-2026 to reach a value of approximately USD 7.8 billion by 2026.

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:

  • The market, on the basis of vaccine type, can be divided into quadrivalent and trivalent.
  • Based on technology, the industry can be divided into egg-based and cell-based.
  • The major age groups of influenza vaccine are paediatric and adult.
  • By routes of administration, the market is segmented into injection and nasal spray.
  • The regional markets for influenza vaccine include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing awareness regarding the importance of influenza vaccines and the surging approvals of novel influenza vaccines by healthcare organisations are driving the market growth.
  • The market is being aided by the introduction of various initiatives by governments to prevent influenza-related issues in children, hence surging the demand for influenza vaccines.
  • The increasing preference for cold-adapted influenza vaccines that can be administered through nasal spray is augmenting the market growth.
  • The advancements in vaccination technology and the development of effective mRNA vaccines against influenza are providing impetus to the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for influenza vaccine for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the vaccine types, technologies, age groups, routes of administration, and major regions of influenza vaccine.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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