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 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Influenza vaccines help develop immunity against the influenza virus by mimicking an influenza infection. They offer protection against seasonal influenza and play a crucial role in limiting the burden of the seasonal disease. Influenza vaccines provide advantages like herd protection and economical preventive care for individuals and communities.
Market key trends:
One of the key trends in the influenza vaccines market is the introduction of quadrivalent influenza vaccines. Quadrivalent influenza vaccines protect against two strains of influenza A and two lineages of influenza B, providing broader protection compared to trivalent influenza vaccines. Manufacturers are focusing on developing advanced quadrivalent vaccines to increase vaccine effectiveness. For instance, in 2021, Sanofi received the U.S. FDA approval for Flublok Quadrivalent, its recombinant quadrivalent influenza vaccine with the potential to provide broader protection compared to traditional flu shots.
Segment Analysis
The global influenza vaccines market is segmented into type, technology, age group, and distribution channel. Based on type, the market is segmented into trivalent and quadrivalent flu vaccines. The quadrivalent flu vaccines segment is expected to dominate the market during the forecast period. Quadrivalent flu vaccines protect against four influenza strains and provide broader protection against the flu as compared to trivalent flu vaccines.
Key Takeaways
The Global Influenza Vaccines Market Size is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing prevalence of influenza and rising government initiatives to promote vaccination.
Regional analysis
North America is expected to dominate the global influenza vaccines market over the forecast period. Increasing prevalence of influenza and strong government support for vaccination in countries like the U.S. drives the market in the region. Asia Pacific is anticipated to exhibit the fastest growth during the forecast period owing to improving healthcare infrastructure and increasing efforts by governments to promote vaccination in emerging countries.
Key players
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. The market is dominated by large players like Seqirus, GlaxoSmithKline plc and Sanofi.
For More Insights, Read: https://www.newsstatix.com/influenza-vaccines-market-size-share-and-growth-forecast-2023-2030/
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