Influenza vaccines, also known as flu shots, are vaccines that protect against influenza by inducing immunity by causing the body to produce its own flu antibodies. They are one of the most effective ways to prevent influenza infection and its severe complications like pneumonia, dehydration and worsening of chronic medical conditions.

The global Influenza Vaccines Market is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing geriatric population across the globe is increasingly susceptible to infectious diseases like influenza. According to the World Health Organization (WHO), the number of people aged 60 years and older is expected to double from 12% to 22% between 2015 and 2050. Weaker immunity associated with old age makes older adults more vulnerable to complications from influenza infection such as pneumonia and respiratory failure. Rising epidemic and pandemic outbreaks of influenza A and B strains worldwide have further contributed to the high prevalence of the disease. According to WHO estimates, influenza causes severe illness in around 3-5 million people and 290,000-650,000 respiratory deaths globally each year. Hence, the growing elderly population base coupled with high disease prevalence is expected to drive increased demand for effective influenza vaccination over the forecast period.

SWOT Analysis
Strength: Influenza Vaccines provides protection against influenza which can help reduce severe illness, hospitalizations, and death. It has a well established production and distribution network globally.
Weakness: Vaccine effectiveness can vary and depends on the match between circulating influenza viruses and the vaccines. There is also short shelf life and need for annual vaccination.
Opportunity: Increased awareness about vaccination and disease prevention provides growth opportunity. Expanding production capacity and new technologies for more effective vaccines presents new opportunities.
Threats: Changes or mutations in circulating influenza viruses poses a challenge. New strains emerging more rapidly can threaten vaccine effectiveness. Competition from alternative treatment options is also a threat.

Key Takeaways

The Global Influenza Vaccines Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated to be US$ 6216.47 Million.

Regional analysis: North America region currently dominates the market due to high vaccination rates and availability of vaccines. Asia Pacific region is expected to witness fastest growth due to improving healthcare infrastructure and increasing focus on immunization in major countries like India and China.

Key players: Key players operating in the Influenza Vaccines market are DuPont de Nemours, Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation, Grasim Industries Limited, Sateri Holdings Limited, Tangshan Sanyou Group Co., Ltd., Birla Cellulose, Indo Bharat Rayon, China Bambro Textile Co., Ltd. These players are focusing on expanding their production facilities and capacity to cater to the growing demand. They are also investing in research and development of new and more effective vaccines.

Get more insights on this topic:

https://insightskies12.blogspot.com/2023/12/influenza-vaccines-market-is-expected.html