Global Flu Vaccine Market was worth USD 5.59 Billion in 2017 and it is expected to reach USD 8.14 Billion by the end of 2027 with the CAGR of 3.27% during the Forecast Period.
Global Flu Vaccine Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027-Increasing research & development activities and ongoing clinic trial for advanced flu vaccine, government involvement for flu virus awareness & vaccination campaigns and rising demand for flu vaccination due to Covid-19 pandemic has driven the growth of global flu vaccine market.
A very contagious disease caused by flu virus is also known as flu or influenza which affects the lower & upper respiratory which can also lead to death if not treated on time. Symptoms of flu are cough, headaches, fever, chest issue, running nose and fatigue. Flu is highly infectious airborne disease which can cause pandemic or epidemics outbreak. Flu viruses consist of four type A, B, C and D where A, B cause flu, C type cause respiratory infection and D type infection occurs only in cattle. The vaccinations against flu virus can help in protecting human being & animals from infection and helps in reducing chronic lung diseases and diabetes including the lower rates in cardiac events. Complication that arises due to flu is ear infection, pneumonia, sinus etc., Burnet discovers the flu virus can be generated in embroyonated hen’s egg in 1936. Flu vaccine was created in 1950 which was an egg-based technology.
COVID-19 pandemic has shown a positive impact on the global flu vaccine market, the growth in the COVID-19 cases has also led to increased demand for the flu vaccine world-wide. The COVID-19 positive patient who has taken dose of flu vaccine previously has decreased experience of sepsis, deep vein thrombosis and strokes. According to the science direct, In Michigan medicine healthcare system a total of 27,201 patients who received a COVID-19 test, of these, 1,218 tested positive for COVID-19 and 25,983 tested negative. A total of 12,997 (47.8%) patients had a documented influenza vaccination during the prior flu season and 14,204 patients did not. The patient who received the influenza vaccine, there was a significant reduction in the numbers of testing positive for COVID-19 compared to those who did not receive the vaccine. According to the worldometer, globally around 258,469,365 cases confirmed of coronavirus in which almost 5,175,770 deaths occurred by 23rd Nov’2021.
Global flu vaccine market is segmented on the basis of type, product, and distribution channel and region and country level. Based on the type the global flu vaccine market is classified into injection, nasal spray and others. Based on the product the global flu vaccine market is classified into a quadrivalent vaccine, trivalent vaccine, and others. Based on the distribution channel the global flu vaccine market is classified into pharmacy, retail, hospitals, public health agency, and others.
Some major key players for global flu vaccine market report cover prominent players like
September 27th, 2021: Pfizer has started a study on mRNA based next generation flu vaccine. Pfizer has collaboration with German biotech company named BioNTech to develop new mRNA technology to generate a flu vaccine shot. This collaboration will speed up the manufacturing process of the vaccines, reducing much of the guess work while creating the vaccine. The flu virus is grown in mammalian cell of chicken eggs & then inactivated and processed further for vaccines. Using this technology scientist would focus and would also monitor data on the current strains and can use information on genes that would further produce corresponding RNA. The manufacturing process of this RNA vaccine is simpler and can create new vaccine within 8 days after the new flu virus is known. Pfizer’s mRNA vaccine program is the very first planned program including the mRNA technology for flu.
One of the major driving factors of global flu vaccine market is increasing research & development activities and ongoing clinic trial for advanced flu vaccine. The government vaccination program was launched on 6th October 2021, where the government will continue to vaccinate people who are affected from flu and pneumococcal. NIAID Vaccine Research Center scientists have initiated Phase 1 research of universal flu vaccine which includes DNA- based vaccine followed by the seasonal flu to improve its quality and durability. Also, the phase 2 trial for flu vaccine called M-001 launched by NIAID. This vaccine was developed by the BiondVax pharmaceuticals. According to CDC, flu vaccination lowered the risk of ICU admission by 26%, death risk by 31%. Also in 2019-2020, flu vaccination prevented almost 105,000 flu- related hospitalization.
Another factor that drives the growth of global flu vaccine market is the rising demand for flu vaccination amongst people. The constant increase in flue infection led to the increased awareness among people for the prevention of death & high risk among population. Different campaign set by the government has attracted large number of people, becoming more cautious due to the flu. Flu can affect some people with the risk of developing serious illness as chronic disease, pneumonia and cardio disorders. According to the CDC, almost 9-41 million people fallen sick, 140,000-710,000 were hospitalized, and around 12,000- 52,000 deaths has confirmed in the year 2010 to 2020 due to the flu virus. Flu vaccine can also help in avoiding chronic disease such as lung infection and can also reduce the risk of cardiac attacks. According to the CDC, 659,000 people die every year due to the heart disease in U.S
However, factors that restrain the market from growth are lack of awareness & knowledge about the flu vaccine followed by shortage of vaccine in developing & developed countries According to the CDC, 9.3 million dose of flu vaccine was purchased by CDC to avoid the shortage of vaccine in case of more supply. Increasing immunization programs will give more opportunities in the forecast period.
North America is expected to hold the major market share in the global flu vaccine market due to rising awareness amongst people regarding flu, including the development of healthcare and medical facilities. Rising prevalence of flu has increase the awareness in people reducing the risk of death or other serious diseases. According to CDC, 193.8 million doses of flu vaccine have been given to people on February 26, 2021, out of which around 1674 people tested positive for flu. Flu type B also causes pneumonia and meningitis, where 70% of the world’s population has received Hib vaccine for type B virus.
Asia Pacific is projected to witness the highest growth in the global flu vaccine market. Government plans for free flu vaccination, rising awareness of flu vaccination and increasing investment by key players have boosted the market in Asia Pacific region. Global influenza initiative which was held in China for broader understanding of the vaccination policies, surveillance and obstacles in vaccination. These initiatives recommended overcoming number of challenges, lack of funding and awareness & knowledge in Asia pacific region. Action plan for influenza vaccine which was initiated by the World health organization that conducted GAP1 and GAP 2 respectively. GAP 1 focused on increasing seasonal vaccine use and GAP 2 on increasing influenza vaccine production capacity. According to the online library, 8 million doses were received by 16 countries and WHO donated 285 million doses to the 10 countries that did not receive the vaccines.
Another factor that drives the market is rising investments by key players. Most of the players are mainly in manufacturing of vaccines or production or supply or in development. Sanofi has built a new facility to Canada to increase the dose of flu vaccine. According to Sanofi.org, Sanofi has announced to invest more than 600 million euros to build new vaccine facility in Toronto for providing additional antigen & filling capacity for Sanofi’s Fluzone, a high dose quadrivalent flu vaccine.
The regions covered in this global Influenza Vaccines Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 5.59 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 8.14 Billion|
|Tables, Charts & Figures:||175|
|Flu Vaccine Manufacturers||Sanofi SA, AstraZeneca plc., Serum Institute of India Pvt. Ltd., Abbott, CSL Limited, Hulan Bio, others|
|Segments Covered||By Type, By Product, By Distribution Channel|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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