Influenza Vaccine Market Trends

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

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):

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.