Influenza Vaccines Market Size Worth US$ 3,991.4 million (Covering COVID-19 impact Analysis) | Future Trends, Top Key Companies Profile, Key Insights and Share Analysis
Influenza Vaccines Market report provides key enumeration on the Market status of the Influenza Vaccines manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry. The research was conducted using an objective combination of primary and secondary information including inputs from key participants in the Influenza Vaccines industry. It delivers important information to identify and analyse the market need, market Growth and competition.
The global Influenza Vaccines Market analysis further provides pioneering landscape of market along with market augmentation history and key development involved in the industry. The report also features comprehensive research study for high growth potential industries professional survey with market analysis. Influenza Vaccines Market report helps the companies to understand the market trends and future market prospective,opportunities and articulate the critical business strategies.
The influenza virus causes a contagious respiratory ailment known as influenza. Fever, cough, muscle and joint discomfort, headache, and severe weakness are all symptoms of influenza. Influenza illness can range from mild to severe, and it can even result in death. According to the World Health Organization (WHO), influenza-related hospitalizations range from 3-5 million instances for serious illness in 2018, while influenza-related deaths range from 290 000 to 650 000. In order to avoid influenza infections, vaccines are advised. The increasing spread of influenza virus epidemics around the world is driving need for an effective influenza vaccination. During the projection period, a strong product pipeline will be the primary driver of market growth. The global influenza vaccines market was valued to be US$ 3,991.4 million in 2017 and is expected to witness a CAGR of 4.4% over the forecast period (2018 – 2026).
Increasing Product Approval for Influenza Vaccine is Propelling Growth of the Influenza Vaccines Market
The demand for improved vaccines is increasing as the seasonal influenza virus outbreaks become more common. The influenza vaccinations market is predicted to rise as the number of licenced products grows. Seqirus Vaccine Limited, for example, got FDA clearance in August 2016 for Afluria Quadrivalent, Afluria Trivalent, Flucelvax Quadrivalent in May 2016, and Fluad in November 2015. Moreover, increasing strong pipeline candidates for influenza vaccine is also expected to boost the market growth. Furthermore, in May 2018, FluGen, Inc., a clinical stage vaccine developing company, started clinical trial for investigation of influenza vaccine, M2SR.
Increased government initiatives to lead novel vaccine research paths are also likely to drive market expansion. For example, in April 2018, the Bill and Malinda Gates Foundation and Lucy and Larry Page announced a US$ 12 million prize for researchers who can come up with new ideas for flu vaccines that are safe, effective, and inexpensive. Moreover, in May 2018, National Institute of Allergy and Infectious Disease (NIAID), sponsored trial of universal influenza vaccine. Furthermore, governmental initiative for increasing the vaccine supply is propelling growth of the influenza vaccine market.
The continual evolution of influenza virus genetic structure results in the creation of novel viruses that are immune to currently available influenza vaccinations. The influenza vaccine market is projected to face significant headwinds as a result of these constantly evolving viruses. Furthermore, market growth is likely to be hampered by the high cost of vaccine development over the forecast period.
Asia Pacific market to exhibit fastest growth over the forecast period
Coherent Market Insights divides the Influenza Vaccines Market into six regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. North America has a dominating position in the influenza vaccine market, owing to increased R&D activities by market players in collaboration with government assistance to add unique products to their product portfolios and an increase in the number of vaccines available. For example, US National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). Conducted under an FDA Investigational New Drug (IND), are sponsoring clinical trials of universal influenza vaccine. However, Asia Pacific is expected to witness fastest growth during forecast period.
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• Current and future of global Influenza Vaccines Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Influenza Vaccines Market – Competitive Landscape
Key players functioning in the global prosthetic liners market consists of Seqirus Vaccines Limited, GlaxoSmithKline plc, ID Biomedical Corporation, Sanofi, Protein Sciences Corp., and MedImmmune LLC
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