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Influenza Vaccine Market to Hit USD 13.58 Billion by 2029; AstraZeneca Announces FLUMIST QUADRIVALENT Availability in the U.S

September 12, 2022 | Healthcare

The global influenza vaccine market size stood at USD 7.02 billion in 2021. The market value is slated to rise from USD 7.54 billion in 2022 to USD 13.58 billion by 2029 at a CAGR of 8.8% during 2022-2029. The surge can be attributed to an increase in government efforts toward encouraging early vaccinations for providing maximum protection during the flu season. This is further being supplemented by the growing demand for effective flu vaccines across various regions.


This information is provided by Fortune Business Insights™ in its research report, titled “Influenza Vaccine Market Size, Share & COVID-19 Impact Analysis, By Type (Inactivated and Live Attenuated), By Valency (Quadrivalent and Trivalent), By Age Group (Pediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers, and Others), and Regional Forecast, 2022-2029”.


Industry Expansion Favored During COVID-19 Pandemic Due to Growing Awareness Regarding the Risk of Getting Infected


The COVID-19 pandemic led to an increase in awareness regarding the risk of getting infected. This resulted in a rise in the uptake of flu vaccines. The health crisis further led to a surge in focus regarding the development of mRNA vaccines, combination vaccines, and others. The growing inclination toward the development of combination vaccines helped in ramping up production, given the reduction in manufacturing costs as well as time. These factors helped in elevating the production of influenza vaccines during the pandemic period.  


AstraZeneca Announced the Availability of FLUMIST QUADRIVALENT Doses in the U.S.


In August 2021, AstraZeneca disclosed the availability of FLUMIST QUADRIVALENT doses for the 2021-2022 influenza season in the U.S. The FDA-approved vaccine was indicated for individuals in the age group of 2 and 49.  


The nasal spray vaccine continued to be an option for flu vaccination in the country in alignment with the 2021-2022 recommendations from the American Academy of Pediatrics (AAP) and the CDC’s Advisory Committee on Immunization Practices (ACIP).


Market Value to Rise Due to Increasing R&D Investments by Major Companies


Several industry players are depicting a keen interest in increasing their investments in research & development activities. The moves are being taken in a bid to focus on the launch of new vaccines and the introduction of new manufacturing facilities. Additional factors fueling the influenza vaccine market growth comprise the escalating government funding for driving the launch of therapeutically effective vaccines.


However, several countries have stretched timelines and a range of labeling requirements. This enhances the complexity of conducting clinical trials. An additional aspect hampering the industry growth is longer duration in conducting these trials.  


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/influenza-vaccine-market-101896


Market Participants Strike Partnership Deals and Collaborations to Strengthen Industry Position


Leading influenza vaccine companies are entering into collaborations and partnership agreements for consolidating their market position. In addition, many industry players are adopting a series of initiatives such as mergers, acquisitions, and the formation of alliances to strengthen their industry footing. Some of the other initiatives include surging participation in research activities and trade fairs.


List of Key Players Profiled in the Report



  • GlaxoSmithKline plc (U.K.)

  • Sanofi (France)

  • AstraZeneca (U.K.)

  • CSL Limited (Australia)

  • BIKEN Co., Ltd. (Japan)

  • Abbott (U.S.)

  • SINOVAC (China)

  • Viatris Inc. (U.S.)


Notable Industry Development



  • February 2020 – Abbott announced the rollout of a new inactivated quadrivalent vaccine for usage in children below the age of three years. The rollout focused on expanding the company’s portfolio and the spread of flu vaccines to a critical market such as India.


Further Report Findings



  • Based on type, the market is segmented into live attenuated and inactivated. The inactivated segment is estimated to record lucrative expansion over the forecast period. The rise can be credited to the surging product demand in developing and developed countries.

  • The North America influenza vaccine market share is poised to record substantial growth over the estimated period. The rise is being powered by the rollout of effective products and technologically advanced vaccine manufacturing systems across the region.

  • The Asia Pacific region is anticipated to register remarkable growth over the forthcoming years. The regional growth can be attributed to the escalating number of government initiatives to provide flu vaccines.


Table of Segmentation


























































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



Segmentation



By Type, Valency, Age Group, Distribution Channel, and Region



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)

    • 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)

    • 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)

    • 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)

    • GCC (By Valency)

    • South Africa (By Valency)

    • Rest of Middle East & Africa (By Valency)




Influenza Vaccines Market
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  • 2021
  • 2018-2020
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