"We Envision Growth Strategies Most Suited
to Your Business"

Influenza Vaccine Market to Hit USD 7.60 Billion by 2027; Seqirus Receives EU Approval for New Quadrivalent Vaccine to Boost its Sales Revenue

September 11, 2020 | Healthcare

The global influenza vaccine market size is expected to showcase a significant growth by reaching USD 7.60 billion by 2027. The growth is attributable to the increasing focus on immunization by the government owing to the rising prevalence of chronic disease across the globe. Fortune Business Insights, in its latest 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 Geography Forecast, 2020-2027,” observes that the market stood at USD 4.45 billion in 2019 and is projected to exhibit a CAGR of 6.9% between 2020 and 2027.


Seqirus Receives EU Approval for its Quadrivalent Influenza Vaccine


In June 2020, Seqirus announced the EU regulatory approval for its first-ever adjuvanted quadrivalent influenza vaccine for commercial sale across Europe. According to the company, the new vaccine adopts an advanced technology that has a higher-effectiveness in people aged 65 and above. Additionally, it is specially designed to provide protection against four strains of seasonal influenza such as two A strains and two B strains.


Dr. Raja Rajaram, Head of Medical Affairs, Europe, said, “People who get vaccinated are less prone to suffer from influenza. The approval of the novel influenza vaccine is expected to take some pressure off the healthcare systems that are battling the novel coronavirus. As a company, we are focusing on developing vaccines that offer superior quality protection against seasonal influenza.” The development of novel products by major companies such as Seqirus is expected to contribute to the growth of the global flu vaccine market during the forecast period.


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


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


Increasing Focus on Immunization by Government to Bolster Growth


The increasing prevalence of chronic diseases and the growing death rate owing to influenza is propelling the government to promote immunization across the globe. Additionally, the government agencies in collaboration with international healthcare organizations such as UNICEF, PAHO, and others are aiding in delivering effective influenza vaccine doses to prevent the spread of the disease. Such initiatives by the government are leading to the declining prevalence rate of several diseases. This is expected to bode well for the global flu vaccine market in the forthcoming years.


Strong Product Portfolio of Sanofi to Lead to Market Dominance


The market is dominated by major companies such as Sanofi that have a full-fledged influenza vaccine portfolio and are further expanding their horizon by investing in the development of novel vaccines to gain a stronghold in the forthcoming years. Furthermore, the adoption of strategies such as merger and acquisition, partnerships, and collaboration by key players is expected to bode well for the growth of the market during the forecast period.


Industry Development:



  • November 2019 – Sanofi receives the US Food and Drug Administration (FDA) approval for its FLUZONE, a high-dose quadrivalent vaccine for the treatment of people aged 65 and older. The development is expected to expand its product portfolio in the global marketplace.


List of the Companies Profiled in the Market:



  • GlaxoSmithKline plc. (U.K, Europe)

  • Sanofi S.A (France, Europe)

  • AstraZeneca (Cambridge, United Kingdom)

  • Seqirus (Maidenhead, UK)

  • BioDiem (South Melbourne Victoria)

  • Emergent BioSolutions Inc. (Maryland, United States)

  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)

  • Sinovac Biotech Ltd (China)

  • Other Prominent Players


Further Report Findings:



  • North America is expected to hold the highest position in the global influenza vaccine market during the forecast period. This dominance is attributable to the increasing prevalence of chronic disease and the presence of established manufacturers that are focusing on developing a novel influenza vaccine. The region generated a revenue of USD 2.18 billion in 2019.

  • Asia-Pacific is anticipated to showcase an exponential growth owing to the increasing geriatric population in countries such as India and China. Additionally, supportive government initiatives to promote flu vaccines are expected would favor market growth between 2020 and 2027.

  • The inactivated segment, based on type, is expected to remain dominant owing to the increasing sales of the vaccines and the rising focus of the pharmaceutical companies to develop innovative inactivated vaccines.


Table of Segmentation:














































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



By Type



  • Inactivated

  • Live Attenuated



By Valency



  • Quadrivalent

  • Trivalent



By Age Group



  • Pediatric

  • Adults



By Distribution Channel



  • Hospital & Retail Pharmacies

  • Government Suppliers

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)


Influenza Vaccines Market
  • PDF
  • 2019
  • 2016-2018
  • 144

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

microsoft
Ge-Healthcare
mckinsey-company
panasonic
chong-kun-dang
kpmg
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X