Influenza Vaccine Market Outlook:
Influenza Vaccine Market size was valued at USD 10.7 billion in 2024 and is set to exceed USD 24.9 billion by the end of 2037, registering over 6.9% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of influenza vaccine is estimated at USD 11.8 billion.
Key Influenza Vaccine Market Insights Summary:
The North America influenza vaccine market is expected to achieve the highest revenue share of 40.6% by 2037.
The Asia Pacific region is emerging strongly within the global influenza vaccine landscape and is expected to achieve a 22.7% market share by 2037, driven by the fastest CAGR of 8.6%.
Europe's influenza vaccine market shows consistent growth and is projected to capture a 28.5% share by 2037 within the influenza vaccine market.
Government programs remain the leading segment and are anticipated to account for a 45.7% market share by 2037.
Quadrivalent vaccines lead the sub-segment and are projected to hold a market share of 42.5% by 2037.
Key Growth Trends:
- Increased immunization program
- Advanced vaccine technologies
Key Players:
- Sanofi (France), GSK (UK), CSL Seqirus (Australia/U.S.), Abbott (U.S.), Pfizer (U.S.), Sinovac Biotech (China), Takeda Pharmaceuticals (Japan), Serum Institute of India (India), Bharat Biotech (India), Moderna (U.S.), Novavax (U.S.), Daiichi Sankyo (Japan), Green Cross Corp (South Korea), Hualan Biological (China), Bio Farma (Indonesia), KM Biologics (Japan), Baxter International (U.S.), Merck & Co. (U.S.), LG Chem (South Korea), Pharmaniaga (Malaysia).
Market Size and Growth Projections:
- 2024 Market Size: USD 10.7 billion
- 2025 Market Size: USD 11.8 billion
- Projected Market Size: USD 24.9 billion by 2037
- Growth Forecasts: 6.8% CAGR (2025-2037)
- Largest Region: North America
- Fastest Growing Region: North America
The growing demand for influenza vaccine accelerated with the global patient pool capacity of over 1 billion annually. As per the reporting of the World Health Organization, the U.S. government allocates approximately USD 3.9 billion every year for the influenza vaccine distribution. Influenza vaccines have segmented demand, for instance, geriatric, pediatric, and immunocompromised populations. Advancements of vaccines to cell-based leverage the patient outcome and enable a market surge through it. The majority of the government-initiated programs are conducted through egg-based vaccines that often face supply chain constraints due to the limitation in manufacturing scalability.
API is one of the raw materials required for the production of influenza vaccines, and the supply chain is dependent on the markets of the U.S., EU, and India. A complex supply chain management is experienced due to approximately 7 months of lead time, and the glass shortage trend in the global market has raised the cost of manufacturing. As per the data of the U.S. Bureau of Labor Statistics, the producer price index rose by 4.4% and the consumer price index increased by 3.3% in 2024.
Influenza Vaccine Market - Growth Drivers and Challenges
Growth Drivers
- Increased immunization program: Outbreak of influenza and taking the shape of a pandemic led the government to take sincere initiatives to arrange an annual immunization program. For instance, the U.S. Medicare spending on flu vaccines reached over USD 1.5 billion in 2023. This resulted in delivering influenza vaccine to over 45 million patients each year. Similarly, the EU Joint Procurement Agreement invested a fund of over €550 million to manufacture sufficient vaccine and stay pandemic-ready. Government mandates are one of the relevant aspects that led to the escalation of the market demand. For instance, over 27.5 million pediatric cases are registered in Europe in need of the influenza vaccine.
- Advanced vaccine technologies: Improved and technologically elevated influenza vaccines ensure better outcomes for patients. Manufacturing time of the vaccine is reduced by over 28% for the cell-based vaccine in comparison to the egg-based vaccines, as per the report stated by the FDA, fast-tracked in 2024. This controls the cost of production and enables the market to access the product at an affordable price. According to the report of the National Institute of Health, more than USD 450 million has been allocated for the universal flu vaccine trials to enhance the efficacy of the dosage. Higher adoption of biotechnology led the market to elevate the performance of the influenza vaccines and raise demand.
Manufacturing Strategies to Ensure Market Expansion
The leading manufacturer expanded their business in the global market of influenza vaccine based on a few key strategies. Product innovation is one of the important strategies that is followed by CSL Seqirus through the introduction of cell-based vaccine production. This led the business to gain over 14% of the market share and expand its business in the global market. Expansion in the emerging market is the second core strategy that helps to control the cost of production and increase the manufacturing ability of the business. Serum Institute expanded its production capacity to over 450 million doses per year through expansion in the emerging market of India. Aligning with the government stockpiling is the third strategy that is followed by businesses for expansion. Establishment of an mRNA platform is also identified as the leading strategy implemented by Pfizer to reshape the future growth of the business.
Revenue Opportunities for Manufacturers
|
Company |
Strategy Implemented |
Projected Revenue Impact 2030 (USD) |
|
Sanofi |
Focusing on the High-dose geriatric |
5.9 billion |
|
CSL Seqirus |
Introduction of Cell-based production |
7.2 billion |
|
Pfizer/BioNTech |
Establishment of mRNA platform |
6.1 billion |
|
Serum Institute |
Investment in emerging market localization |
4.6 billion |
Key Market Dynamics for Historical Patient Growth
The influenza vaccine market took a fundamental shape from 2014 to 2024. Growth in the aging population, raised awareness after the pandemic, and a government-initiated immunization program are some leading factors for the growth in the influenza vaccines global market. Targeting the risk group prioritization escalated the demand for the influenza vaccine in the U.S., Japan, and the EU. The emerging markets like India and China elevated their healthcare infrastructure to achieve the WHO-initiated immunization programs. Adult-based vaccine of influenza is considered for the U.S. market, whereas geriatric uptake is performed in Germany and France. Explosive growth is experienced in the market of Asia Pacific through the pediatric program growth and an increased level of disposable income. Key opportunities for the influenza vaccine production include geriatric formulation, pediatric immunization, cell-based vaccine growth, and many more.
Historical Patient Growth (2014-2024):
|
Country |
2014 Procedures (Million) |
2024 Procedures (Million) |
CAGR |
|
U.S. |
120.5 |
165.3 |
3.5% |
|
Germany |
32.2 |
45.6 |
3.7% |
|
France |
28.4 |
42.3 |
4.2% |
|
Spain |
18.5 |
28.3 |
4.8% |
|
Australia |
8.3 |
14.4 |
5.9% |
|
Japan |
50.7 |
70.4 |
3.6% |
|
India |
25.6 |
75.3 |
11.8% |
|
China |
80.4 |
190.6 |
9.7% |
Challenges
- Medicaid coverage gap and emerging market affordability: The cost of production for the influenza vaccine rises with the disruption in the supply chain and high inflation. Lack of high medical insurance coverage creates a barrier for low-income people to access medical facilities. For instance, Medicaid provides insurance coverage of less than 70% of the total cost of the influenza vaccine to the adult population. This results in more than 32 million people facing extreme barriers to accessing the treatment and limits the market growth.
- As per the report of the Centers for Disease Control and Prevention, 24% of the U.S. population skip the flu vaccine because of its high cost. Similarly, the emerging market like India faces a barrier to accessibility. The cost of a private market influenza vaccine shot is five times the public price. As per the World Health Organization, approximately 18% of the total population of India avails of the vaccination for influenza.
Influenza Vaccine Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.9% |
|
Base Year Market Size (2024) |
USD 10.7 billion |
|
Forecast Year Market Size (2037) |
USD 24.9 billion |
|
Regional Scope |
|
Influenza Vaccine Market Segmentation:
End user Segment Analysis
Government programs is leading and is anticipated to hold a market share of 45.7% by 2037. The post-pandemic preparation is one of the key aspects that led to the growth of the government programs for immunization in the global market. The EU and U.S. have undertaken the government policy to stockpile the flu vaccine as an important part of their national biosecurity of the nation. Free distribution of dosage of influenza vaccine is initiated by the government like India and Indonesia to elevate public health. Subsidies are also delivered for the influenza vaccine for the aged population in Japan and China, that accelerated the market demand.
Type Segment Analysis
Quadrivalent vaccines dominate the sub-segment and are projected to grow with a market share hold of 42.5% by 2037. According to the report of the Centers for Disease Control and Prevention, the quadrivalent vaccine provides superior strain coverage. This has resulted in a reduction of hospital stays by 24% and saved health expenses. The medical coverage is expanded for the quadrivalent vaccine the ensuring higher patient accessibility. As per the report of CMS, over 95% of the Medicaid coverage is ensured for the quadrivalent vaccines, which expanded the adoption rate in the U.S. market.
Our in-depth analysis of the global influenza vaccine market includes the following segments:
|
Segment |
Subsegment |
|
End user |
|
|
Type |
|
|
Age Group |
|
Vishnu Nair
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Influenza Vaccine Market - Regional Analysis
North America Market Insights
The global market of influenza vaccine market is dominated by the North America region and is projected to hold a market share of 40.6% by 2037. High government spending leverages research and development in the influenza vaccine efficiency. Insurance coverage is expanded to ensure better patient accessibility and scalability of the market growth. For instance, the Canadian Universal Healthcare expanded its coverage to approximately 92%, which enables high market demand.
Demographic switch is one of the leading factors that address the aged population is at a higher risk of vaccination for influenza in North America. Apart from the government mandate of compulsory vaccination in paediatrics elevated the demand for influenza vaccine within North America has increased. A technologically sound market of North America experienced high adoption of the cell-based vaccines and quadrivalent vaccines that achieve higher patient outcomes.
The U.S. is the largest market for influenza vaccines within North America. According to the report of the Centers for Disease Control and Prevention, more than 69% of the adult population of the U.S. gets vaccinated and creating a high demand for the adjuvanted vaccine. The rise of the aging population in the U.S. is one of the important growth-driving factors for the market. Government spending has expanded that reached to fund allocation of approximately USD 4.5 billion in 2024. Medicaid coverage for the senior citizens and low-income groups of people ensured 100% coverage, which increased the market demand. 70 % of the U.S. vaccine dosage is given based on the quadrivalent vaccines that ensure better protection and achieve better patient outcomes.
Asia Pacific Market Insights
The Asia Pacific region is the emerging region in the global influenza vaccine market and is anticipated to hold a market share of 22.7% by 2037, with the fastest CAGR of 8.6%. A heavy government investment is conducted within Asia Pacific to conduct vaccine programming and reduce the health risk outbreaks. Seasonal outbreak of influenza is the most frequent threat faced by the Asia Pacific region, which creates a high demand for vaccines in the concerned market.
Urbanization, change within the climatic conditions, and density of the population are the key factors behind the rise of influenza in the Asia Pacific that creating a significant need for influenza vaccines. Healthcare advancement spending has expanded by approximately 9.5% of growth each year, that enhanced better research and development in influenza vaccine performance.
China is the highest revenue-earning country in the influenza vaccine market within the Asia Pacific. Over 1.2 million incidences are addressed in China each year, which has elevated the demand for the influenza vaccine. Dependency on the import of vaccines is reduced by China and elevating the market as the global vaccine hub, that expanded the market growth of influenza vaccines. Domestic manufacturing of influenza vaccine directed the market in price reduction and offered affordable treatment that ensures better patient accessibility. The government initiated a fund allocation of over USD 2.5 billion under the scheme of Healthy China 2030, which was targeted to cover more than 95 million high-risk patients.
Government Investment & Policy for Influenza Vaccine, 2025
|
Country |
Investment (USD) |
Key policies |
Target |
|
India |
1.6 billion |
Universal Immunization Programme (UIP), inclusion of flu vaccines in 5 states |
Deliver 45+ million doses to children/pregnant women. |
|
Japan |
3.1 billion |
National Immunization Program expansion |
Achieve a 70% vaccination rate in the elderly |
|
South Korea |
910 million |
Free flu shots for 64+ and immunocompromised |
Increase coverage to 62% of the population |
|
Australia |
753 million |
Government procurement of CSL Seqirus’ cell-based vaccines |
Absolute adoption of cell-based vaccines by 2026. |
Europe Market Insights
A steady growth of the influenza vaccine market in Europe is experienced and expected to hold a market share of 28.5% by 2037. The government mandate by the EU Joint Procurement Agreement is directed to secure over 450 million doses each year to control the outbreak of the flu, which resulted in market scalability. As per the mandate, free vaccine doses are distributed to senior citizens of Europe to control health risks. The presence of advanced health infrastructure and a developed environment for technological adoption directed the EU market to adopt cell-based vaccines. As per the data of EMA, over 30% of the vaccine dosage is given through cell-based vaccines. Allocation of approximately €2.4 billion is considered by the EU Health Fund to elevate research and development within the influenza vaccine performance.
Germany is dominating the market in Europe. The government showed a sincere approach to controlling the health risk of influenza and expanded its spending to provide vaccine doses to the patients. STIKO free shot policy is undertaken by Germany to ensure 92% adult population coverage with the vaccine of influenza vaccine. This enhanced the market demand for the influenza vaccine and directed the scope of revenue-generating streams to flourish. Government funding is received by the companies to provide vaccine trials. For instance, BioNTech received USD 198.5 million from EU funding to provide an mRNA vaccine trial.
Key Influenza Vaccine Market Players:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The highly competitive environment is experienced by the key players of the influenza vaccine global market. Companies like Sanofi, GSK, and CSL Seqirus dominated the global market with a hold of more than 60% of the market share. The key strategies followed by the companies to gain competitiveness include mRNA vaccine development by companies like Pfizer and Moderna, which ensured better patient outcomes and vaccine efficacy. Business expansion in the emerging market is conducted by Serum Institute and Sinovac, which has generated low-cost production and accelerated the revenue generation scope. Companies like Takeda and Bio Pharma aligned with the government partnership and boosted the market penetration and procurement contracts. The vertical integration strategy is also followed by GSK and Abbott to gain regional dominance through a combination of providing vaccines and diagnostics.
Here are some leading players in the global influenza vaccine market:
|
Company Name |
Industry Focus |
Market Share (2024) |
|
Sanofi (France) |
Leader in flu vaccines and investing in mRNA and cell-based tech. |
25.2% |
|
GSK (UK) |
Produces Fluarix/FluLaval; |
20.4% |
|
CSL Seqirus (Australia/U.S.) |
produces Afluria and cell-based Flucelvax. |
18.3% |
|
Abbott (U.S.) |
Rapid flu diagnostics + vaccine R&D |
10.4% |
|
Pfizer (U.S.) |
mRNA flu vaccine development |
8.4% |
|
Sinovac Biotech (China) |
Dominates China’s market; supplies WHO-prequalified flu vaccines. |
xx% |
|
Takeda Pharmaceuticals (Japan) |
Produces TAK-850 |
xx% |
|
Serum Institute of India (India) |
low-cost flu vaccines for LMICs. |
xx% |
|
Serum Institute of India (India) |
Focus on intranasal and pandemic-ready flu vaccines. |
xx% |
|
Bharat Biotech (India) |
Developing mRNA-based flu vaccines (Phase 3 trials). |
xx% |
|
Moderna (U.S.) |
Protein-based NanoFlu vaccine; |
xx% |
|
Novavax (U.S.) |
Supplies Japan’s public health programs with influenza vaccines. |
xx% |
|
Daiichi Sankyo (Japan) |
Leading Korean manufacturer; |
xx% |
|
Green Cross Corp (South Korea) |
Leader in flu vaccines (Fluzone, Vaxigrip), |
xx% |
|
Hualan Biological (China) |
Major supplier in China; expanding in emerging markets. |
xx% |
|
Bio Farma (Indonesia) |
State-owned producer; |
xx% |
|
KM Biologics (Japan) |
Specializes in egg-based flu vaccines for Japan & Asia. |
xx% |
|
Baxter International. (U.S.) |
Historical player in flu vaccines; |
xx% |
|
Merck & Co. (U.S.) |
Limited flu vaccine portfolio but strong in adjuvants. |
xx% |
|
LG Chem (South Korea) |
Expanding vaccine division; |
xx% |
|
Pharmaniaga (Malaysia) |
Government-backed; supplies Malaysia’s national immunization program. |
xx% |
Below are the areas covered for each company in the influenza vaccine market:
Recent Developments
- In February 2024, Moderna launched the mRNA-1010 Flu Vaccine, specifically formulated as the seasonal flu vaccine. More than 75% of the U.S. market for flu vaccine has been adopted with the new launch in three months.
- In April 2024, CSL Serirus expanded its distribution for the product Supemtek, which is formulated based on the quadrivalent recombinant vaccine for influenza. The product gained over 4% of the EU market share and over 1.8 million dosages ae administered in 2024.
- Report ID: 153
- Published Date: Jun 20, 2025
- Report Format: PDF, PPT
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