Influenza Vaccine Market Trends

Growth Drivers

• Positive Impact of Influenza Vaccine on COVID -19 Patients - It was observed that in 2021, nearly 74,000 COVID-19 patients globally were given shots of the influenza vaccine, which reduced strokes, sepsis, and deep vein thrombosis among patients.
• The increasing incidence of the COVID-19 virus is resulting in a surge in demand for influenza vaccines. As a result of the influenza vaccine, COVID-19 will not be prevented from spreading but instead result in a reduction in illness, deaths, and hospitalizations. Therefore, COVID-19 outbreaks and a continuous rise in COVID-19 cases are expected to enlarge the global market size during the forecast period.
• Initiatives By WHO, such as the Global Influenza Program- World Health Organization has collaborated with scientists and authorities on a global scale for more than 50 years to develop influenza vaccines. In February and September, it holds expert consultations to determine which viruses should be included in the seasonal influenza vaccine.
• Increasing Research and Development Initiatives by the Government - The World Bank reports that there were 1,597 researchers per million in 2018 compared to 14,12 researchers in 2015. 
• Rising Prevalence of Chronic Diseases Worldwide Rising the Vaccines Demand- According to the Centers for Disease Control and Prevention, 2018, there were 51.8% of US adults with at least one chronic condition in 2018, and the percentage of people with multiple chronic conditions was 27.2%.
• Campaigns to Increase Awareness of Influenza Vaccines Among the People – For instance, in 2021, the Minister’s Department of Health and Aged Care of Australia announced the official launch of the National Flu Vaccination Program aiming to make the vaccine accessible to everyone. A total of 5 million Australian people has already been vaccinated against the flu for 2021.

Challenges

• Low Vaccination Awareness in Developing Countries 
• Complex and Time-Consuming Process Involved in Vaccine Production- It takes 10-15 years for a single vaccine to develop into a safe, quality, and efficacy product. The development procedure includes vaccine research, clinical development, and regulatory requirements which take a long time. Also, the regulatory frameworks for clinical trials are different in various regions which takes time for the clearing process. All the factors are estimated to hinder market growth.
• High Cost Associated with the Vaccine