The global influenza vaccine market is estimated to garner significant CAGR over the forecast period, i.e., 2021–2029. The growth of the market can be attributed to the rising cases of flu, especially among children, along with the increasing initiatives by the government to curb the spread of influenza. Moreover, rising funding in R&D activities for discovering efficient vaccines, backed by the constant mutation in the strain of the influenza virus, is estimated to further boost the market growth. The vaccine needs to be given annually in the beginning of winter season, which is the peak time for influenza outbreak, due to the change in the virus strain. This is projected to generate growth opportunity for market players every year, which is estimated to boost the market growth.
The market is segmented by application into children and adults, out of which, the children segment is anticipated to hold the largest share in the market during the forecast period on account of raised awareness among parents to protect their child from infectious disease, such as, influenza. Moreover, kids below 9 years of age have weaker immunity, which makes it necessary for parents to get them vaccinated, which is estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, the global influenza vaccine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of highly efficient healthcare system along with increasing funding in the medical R&D activities in the region. According to the data by the World Bank, North America spent 16.416 % of its GDP on the healthcare sector, in 2018. Furthermore, the advanced technology deployed in manufacturing the vaccine backed by the prevalence of influenza in countries, such as, the U.S. and Canada, is estimated to drive the market growth. The market in Asia Pacific is anticipated to experience modest growth during the forecast period owing to the increasing population and the developing healthcare system in the region.
The global influenza vaccine market is further classified on the basis of region as follows:
Our in-depth analysis of the global influenza vaccine market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Recurring seasonal prevalence of influenza, coupled with government initiatives to curb the outbreak of influenza is estimated to drive the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
Lack of awareness regarding the need for vaccination in developing economies is estimated to hamper the market growth.
The market in North America is estimated to provide most growth opportunities owing to the increasing medical R&D activities, along with the efficient public healthcare system.
The major players in the market are Gamma Vaccines Pty Ltd, GlaxoSmithKline plc, Sanofi-aventis Groupe, Sinovac Biotech Ltd., Serum Institute of India Pvt. Ltd., Emergent BioSolutions Inc., CSL Limited, Johnson & Johnson Services, Inc. and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, route of administration, end-user, and by region.
The children segment is anticipated to hold largest market size over the forecast period owing to the rising awareness regarding the child’s health among parents and the benefits of vaccines.
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