Influenza Vaccines Market Propelling recent past owing to the high risk of influenza virus infection

The influenza vaccines market has witnessed robust growth in the recent past owing to the high risk of influenza virus infection. Influenza vaccines help in preventing the influenza viral infection by inducing protective antibodies in the body against the virus.

The influenza vaccines market is estimated to be valued at USD 8.30 Bn in 2024 and is expected to reach USD 13.43 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.

Key Takeaways

Key players operating in the influenza vaccines market are Integra LifeSciences Corporation, AbbVie Inc., Johnson & Johnson, HansBioMed, Becton, Dickinson and Company, Cook Group, Smith & Nephew Plc., Reprise Biomedical, Organogenesis Holdings Inc., Tissue Regenix, LifeNet Health, Zimmer Biomet Holdings, Inc., Stryker Corporation, MiMedx Group, PolyNovo Limited, Fidia Pharma USA Inc., Baxter International Inc., In2Bones Global, BioHorizons, Inc., Harbor MedTech, Inc., MLM Biologics Inc., Geistlich Pharma AG, Olaregen Therapeutix, Inc., EnColl Corporation, Kerecis limited, DSM, ACell Inc., 3M, Cell Constructs I, LLC, CG bio Inc., and Marine Polymer Technologies, Inc.

The growing awareness regarding influenza infection prevention measures and increasing vaccination programs by governments and private organizations are fueling  market demand. Moreover, the risk of influenza outbreaks in developed as well as developing nations is further propelling the need for influenza vaccines.

The market is also witnessing expansion in untapped regions of Asia Pacific, Latin America, and Middle East & Africa due to improvement in healthcare infrastructure and rising disposable income. Key market players are focusing on geographical expansions and collaborations with regional vaccine manufacturers.

Market Key Trends

The Influenza Vaccines Market Demand is being driven by the quadrivalent vaccine formulation trend. Quadrivalent influenza vaccines protect against two strains of influenza A and two strains of influenza B viruses as compared to trivalent influenza vaccines which protect against two strains of influenza A and one strain of influenza B virus. This robust vaccine efficacy is boosting the demand for quadrivalent influenza vaccines. Furthermore, the development of recombinant vaccine production technologies for producing standardized and large-scale influenza vaccines is another key trend in the market.

Porter's Analysis
Threat of new entrants: Low due to high R&D investment and stringent regulations for developing vaccines.
Bargaining power of buyers: Moderate as buyers can negotiate for lower prices due to presence of many alternatives.
Bargaining power of suppliers: High owing to limited number of suppliers and key intellectual properties.
Threat of new substitutes: Low as influenza vaccines are more effective than other treatment options.
Competitive rivalry: Intense due to low differentiation and presence of major global players.

Geographical Regions
North America is currently leading the Influenza Vaccines Market Size And Trends in terms of value share attributed to presence of major players and high healthcare expenditure in the US and Canada. Europe follows North America due to healthcare reforms and initiatives by government agencies to promote immunization. Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing awareness, improving healthcare infrastructure and rising disposable income in countries like China and India. Growth will also be augmented by rising incidence of epidemic outbreaks in densely populated regions of Asia Pacific.

Geographical Regions with Fastest Growth
Asia Pacific is poised to exhibit the fastest growth in influenza vaccines market value during 2024-2031 attributable to expanding patient pool, improving access and rising demand for preventive healthcare. Favorable government support through reimbursements and campaigns to strengthen immunization programs will further boost market growth in Asia Pacific over the coming years.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)