Influenza Vaccines Market 2020: Potential Growth, Challenges, and Know the Companies List in detail

The influenza vaccines market is expected to grow from US$ 7,478.53 million in 2021 to US$ 12,272.49 million by 2028. It is expected to grow with a CAGR of 7.4% from 2022 to 2028.


Shahbaz Syed

a year ago | 2 min read

According to our latest study, "Influenza Vaccines
Forecast to 2028 – COVID-19
Impact and Global Analysis – by Vaccine Type, Virus Type, Technology, and Route
of Administration," the market was valued at US$ 7,478.53 million in 2021
and is projected to reach US$ 12,272.49 million by 2028. It is estimated to
grow at a CAGR of 7.4% from 2022 to 2028. The report highlights the key factors
driving the market and prominent players with their developments. The growth of
the influenza vaccines market is primarily attributed to increased government
support to promote influenza vaccination and investment by top market players
and governments worldwide. However, the high cost of vaccine development is
hampering the market's growth.

Companies operating in the influenza vaccines market
witnessed a positive impact during the pandemic as global campaigns promoted
people to get vaccinated against the influenza virus. For instance, in the US,
the National Forum for Heart Disease & Stroke Prevention initiated the
‘Move with the Mayor Flu Vaccination Campaign’ where the mayors are protecting
their communities from the dual threat of COVID-19 and flu by encouraging
people to get vaccinated for flu. Similarly, to reduce the risk of severe
illness that could arise from co-infection with SARS-CoV-2 and influenza, the
Public Health Agency of Canada (PHAC) released Guidance on the Delivery of
Influenza Vaccination in the Presence of COVID-19 to support the delivery of
influenza vaccination programs during the COVID-19 pandemic.

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Based on vaccine type, the influenza vaccines market
is segmented into quadrivalent vaccines and trivalent vaccines. In 2021, the
quadrivalent vaccines segment held a larger market share; however, the same
segment is estimated to grow at a faster CAGR during the forecast period. The
quadrivalent influenza (flu) vaccine protects against 4 types of influenza
viruses, including 2 influenza A viruses and 2 influenza B viruses. All flu
vaccines in the US during the 2021-2022 season have been quadrivalent.

Different vaccines are approved for different age
groups. The quadrivalent flu vaccine can be given to children under 6 months of
age. Flucelvax Quadrivalent is now approved for people 6 months of age and
older. Market players are receiving new product approvals and launching for
market expansion. For instance, In Feb 2020, Abbott launched a quadrivalent
vaccine for influenza in India.   

Moderna, Inc.; SEQIRUS; Sanofi; GlaxoSmithKline plc.;
Hualan Biological Engineering Inc.; Emergent BioSolutions Inc.; Mitsubishi
Chemical Group Corporation; Serum Institute of India Pvt. Ltd; MYLAN NV; and
AstraZeneca are the leading companies operating in the influenza vaccines

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Created by

Shahbaz Syed







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