The global Influenza Vaccines Market Share is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Influenza vaccines are types of vaccines that are used to prevent influenza. They are formulated specifically to protect against the types of influenza viruses that are circulating during the currently flu season. There are several types of influenza vaccines such as trivalent vaccines and quadrivalent vaccines. Influenza vaccines helps in building immunity against seasonal influenza virues and reducing complications from seasonal influenza. They are increasingly being adopted globally for both children and adults.

Market Dynamics:
The global influenza vaccines market is witnessing high growth owing to increasing adoption of seasonal influenza vaccination programs by various governments and health organizations. According to the World Health Organization, vaccination is one of the most effective measures to prevent influenza. Hence, various governments are focusing on implementing mass vaccination programs to prevent the outbreak of influenza. For instance, the U.S. Advisory Committee on Immunization Practices has recommended annual influenza vaccination for all persons aged 6 months and older in the United States.

Furthermore, growing focus of key market players on new product approvals and launches is also expected to boost the market growth over the forecast period. For instance, in October 2021, Moderna, Inc. received authorization in the European Union for its influenza vaccine candidate, mRNA-1010. mRNA-1010 encodes for hemagglutinin antigens from four influenza strains typically included in the seasonal influenza vaccine formulations.Ongoing R&D in development of quadrivalent influenza vaccines is also expected to offer lucrative growth opportunities for influenza vaccines market players over the forecast period.

SWOT Analysis

Strength: The influenza vaccines market has strong growth potential owing to the high prevalence of influenza diseases globally. The growing awareness regarding vaccination has increased the demand for influenza vaccines. Manufacturers are continuously focusing on research and development to develop advanced vaccines.

Weakness: High costs associated with development and production of influenza vaccines hinders market growth. Risk of ineffective coverage due to antigenic drift of influenza virus strains poses a challenge.

Opportunity: Rising geriatric population who are more vulnerable to influenza diseases creates growth opportunities. Growing demand for quadrivalent vaccines provides an opportunity for manufacturers to expand their product portfolio.

Threats: stringent regulations for approval of new vaccines increases threat from alternative treatment options. Threat from other competing diseases decreases focus on influenza.

Key Takeaways:

The global Influenza Vaccines market is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing prevalence of influenza diseases. Advancements in vaccine production technologies and rising awareness regarding benefits of vaccination have propelled the market growth.

The North American region currently dominates the influenza vaccines market owing to presence of major players and growing immunization programs in the region. Asia Pacific region is expected to exhibit fastest growth over the forecast period supported by improvement in healthcare infrastructure and rising disposable income.

Key players operating in the Influenza Vaccines market are Seqirus, GlaxoSmithKline plc, Sanofi, AstraZeneca, FluGen, Inc., Moderna, Inc., Biocryst Pharmaceuticals, Inc., CPL Biologicals Pvt. Ltd., CureVac AG, OSIVAX, and Solaris Vaccines. Major players are focused on developing advanced quadrivalent vaccines to expand their product portfolio and strengthen market presence.

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