Influenza Vaccines Market Revenue to Worth Over US$ 6.0 Billion by 2025 | Top 10 Countries Exclusive Data, Industry Analysis, And Upcoming Trends
Global Influenza Vaccines Market, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus A and Influenza Virus B), by Age Group (Pediatrics and Adults), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3,991.4 million in 2017, and is expected to exhibit a CAGR of 4.4% over the forecast period (2018-2026).
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The rising number of pipeline products to come up with new vaccine product, as a part of key organic strategies by market players, coupled with increasing number of regulatory approvals for vaccines are expected to drive the market growth over the forecast period. For instance, Seqirus’s FLAUD, first and only adjuvant-based trivalent influenza vaccine, received the MHRA approval against influenza virus in older aged people (adults aged 65 and above), in 2017. Moreover, in 2017, Seqirus entered in the U.S. market with its influenza vaccine portfolio, with over 50 million doses for protection against seasonal influenza of 2017-2018. The portfolio includes FLAUD, FLUCELVAX QUADRIVALENT, AFLURIA QUADRIVALENT, AFLURIA, and FLUVIRIN.
Furthermore, in 2017, FluGen, Inc., received US$ 14.4 million by Department of Defense for evaluating Universal Flu Vaccine, RedeeFlu, of Mismatched Strains. Additionally, Novavax initiated phase1/2 clinical trials for nanoparticle seasonal influenza vaccine in older adults, in September 2017. In addition, in April 2018, BiodVax Pharmaceuticals LTD., started enrollment of patients for phase 2 clinical trials for universal flu vaccine candidate, M-001.
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The increasing prevalence of seasonal influenza in pediatric population is expected to propel demand new vaccines. For instance, influenza is estimated to infect 5% and 10% of adults and 20 to 30% of children. Moreover, companies are engaged in developing vaccines through innovative technologies such as egg-based, cell-based, and recombinant-based product for reducing the gap between demand and supply. Furthermore, rising awareness and initiatives to increase the vaccine coverage are expected to drive the market growth. For instance, the 2017-2018 recommendations guidelines by the Advisory Committee on Immunization Practices (ACIP) states that routine annual influenza vaccination for everyone aged older than 6 months.
However, high cost of vaccine development is the factor that is expected to hinder growth of the market over the forecast period.
Browse Market Data 32 Tables and 30 Figures spread through 150 Pages and in-depth TOC on “Influenza Vaccines Market, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus A and Influenza Virus B), by Age Group (Pediatrics and Adults), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
To know the latest trends and insights related to Influenza Vaccines market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/global-influenza-vaccines-market-to-surpass-us-60-billion-by-2025-889
Key takeaways of the Influenza Vaccines Market:
- The global influenza vaccines market is expected to exhibit a CAGR of 4.4% over the forecast period (2018-2026), attributing to increasing R&D activities of market players
- Among vaccine type, trivalent vaccine is expected to hold a dominant position in the market over the forecast period, owing to more number of products
- Among virus type, influenza A virus segment is expected to be predominant over the forecast period, owing to increasing prevalence of type A-based infections
- Pediatric being more susceptible to influenza virus is expected to dominate age group segment, over the forecast period
Key players operating in the global influenza vaccines market include Seqirus Vaccines Limited, and GlaxoSmithKline plc.
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