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| Global Influenza Vaccines Market Size |
Influenza vaccines are biological products intended to protect against the influenza viruses that cause seasonal epidemics. Influenza vaccination serves as one of the most effective ways to prevent influenza virus infection and its complications. The vaccines help develop immunity by causing the immune system to make antibodies against influenza viruses. With rapid urbanization and rising awareness about vaccination, more people are opting for annual influenza vaccination each year to curb the risk of influenza.
The global
Influenza Vaccines Market is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The market for influenza vaccines is witnessing strong growth driven by the
rising demand for vaccination against influenza worldwide each year. With the
ongoing COVID-19 pandemic, vaccination has gained more prominence with
healthcare agencies and governments across countries promoting influenza
vaccination to reduce the overall burden on healthcare systems. In addition,
the availability of various influenza vaccine formulations including
quadrivalent and high-dose vaccines are improving vaccination uptake among the
high-risk population groups. Manufacturers are also investing in new vaccine
production technologies to enhance supply reliability and efficacy. The
increasing focus on pandemic preparedness is further expected to drive the
development of universal influenza vaccines with broader protection over the
forecast period.
Segment Analysis
The global influenza vaccines market is dominated by quadrivalent influenza
vaccines segment. Quadrivalent influenza vaccines protect against four
different strains of influenza viruses (two influenza A strains and two
influenza B strains), as compared to trivalent influenza vaccines which protect
against three different strains (two influenza A strains and one influenza B
strain). As a result, quadrivalent influenza vaccines provide broader
protection against mismatch of circulating influenza virus strains and the ones
included in trivalent vaccines. Thus, quadrivalent influenza vaccines have
emerged as the preferred choice among healthcare practitioners and patients
globally.
Key Takeaways
Global
Influenza Vaccines Market Size is
expected to witness high growth over the forecast period of 2023-2030. The
global Influenza Vaccines Market is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected
to exhibit a CAGR of 11% over the
forecast period 2023 to 2030.
Regional analysis
North America currently dominates the global influenza vaccines market. Higher
public awareness regarding influenza vaccines, established healthcare
infrastructure, and implementation of universal immunization programs are some
of the factors driving the North America market. The Asia Pacific region is
expected to witness the fastest growth during the forecast period owing to
rising preventive healthcare spending and increasing focus of regional
governments on immunization programs.
Key players
Key players operating in the influenza vaccines market are DuPont de Nemours,
Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation, Grasim
Industries Limited (Aditya Birla Group), Sateri Holdings Limited, Tangshan
Sanyou Group Co., Ltd., Birla Cellulose (Aditya Birla Group), Indo Bharat Rayon
(Aditya Birla Group), China Bambro Textile Co., Ltd. DuPont de Nemours and
Sanofi Pasteur are the current leaders in this market with a vast influenza
vaccine portfolio and strong geographical presence across regions.
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