Global Influenza Vaccine Market By Type (Live Attenuated and Inactivated), By Valency (Trivalent and Quadrivalent), By Age Group (Pediatrics and Adults), By Route of Administration (Injection and Nasal), By Distribution Channel ( Hospital Pharmacy & Retail Pharmacy, Government Suppliers, Other Distribution Channels ), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Influenza Vaccine Market size is expected to be worth around USD 6.2 Billion by 2022 from USD 12.6 Billion in 2032, growing at a CAGR of 7.58% during the forecast period from 2022 to 2032.

Influenza vaccines are vaccines that protect against infection by influenza viruses. They are also called flu shots. The influenza virus travels through respiratory droplets, and it is communicable. It can also transmit from one individual to another while talking. This virus circulates constantly, affecting regional epidemics and outbreaks, which lead to thousands of deaths.

The increase in the dominance of seasonal influenza and rising recommendations for vaccination against the disease in estimated to upsurge the sales of vaccines. Increase in prevalence of flu, rise in awareness and increase in geriatric population to promote vaccination. Major Key players are focusing on research and development of inventive influenza vaccines.

Market Scope

Type Analysis

Inactivated Segment to Witness Significant Growth

Based on type, the global influenza vaccine market is segmented into live attenuated and inactivated. The inactivated vaccine segment accounted for the largest market share of 92.83% and is estimated to extend at a significant rate during the forecast period. This is due to the increase in the requirement for efficient vaccines, the maximum prevalence of diseases, and a huge quantity of manufacturers giving to high segmental growth.

Furthermore, the inactivated vaccine given to children in the age group of 6-35 months performed a suitable antibody response. The growing requirement, combined with the high dominance of influenza, is responsible for the highest CAGR of the segment. Despite the long interval after the primary vaccination, it decreases the possibility of emerging influenza A & B infection.

Instead, the live attenuated vaccine segment is anticipated to grow at a slower rate owing to several oppositions faced by industries in vaccine development and adoption. Also, live attenuated vaccine is not suggested for some patients, such as individuals with asthma and pregnant women.

By Valency

Increasing Efficiency of Quadrivalent Vaccines to Show the Maximum CAGR

On the basis of valency, the global influenza vaccine market is divided into quadrivalent and trivalent. Among these, the quadrivalent segment dominated for the fastest CAGR of 7.11% during the forecast period. Owing to the high efficiency against viral infections, easy availability of hospitals and clinics, and cost–effectiveness.

Additionally, the higher precedence for quadrivalent vaccines by medical specialists is also anticipated to support segmental growth. For example, according to a survey conducted in June 2022, physicians and pharmacies recommended vaccines such as Fluzone-high-dose quadrivalent for people above 65 years. Furthermore, the increase in product approvals has propelled the uptake of this segment.

By Age Group

Adults segment has Dominated the Significant Growth of the Market

Based on the age group, the global influenza vaccine market is classified into adults and pediatrics. Among these, the adult segment held a major revenue share of 78% in 2022 due to advantageous efforts to raise immunization and high vaccine dosage obtained by PAHO, UNICEF, and GAVI. Moreover, the immunization coverage facility further led to an increase in the geriatric population. Additionally, vaccination for adults has become crucial to decrease the hospitalizations and deaths caused by influenza.

The pediatric segment is anticipated to exhibit a lucrative growth rate due to the high number of vaccinations provided to newborns and infants for managing influenza disease. The WHO and other regulatory bodies have applied immunization policies such as the facility of vaccines at a primary age as well as to every child worldwide.     

By Route of Administration

The Injection Segment Dominated the Significant Market Growth of the Influenza Vaccine Market

On the basis of the route of administration, the global influenza vaccine market is classified into injection and nasal spray. The injection segment accounted for the leading market revenue share during the forecast period. Due to the prominent growth of the segment large number of intramuscular vaccine candidates are accessible in the market. Furthermore, the accessibility of a strong range of injectable products group combined with recent product adoption provides segment development.

The nasal spray segment is projected to be the fastest developing segment owing to the rising approval of nasal spray. Vaccines’ effortlessness of self-administration, homecare settings, and capability of nasal spray to make systemic immunity. Additionally, the ongoing struggles of researchers to examine more prospects in the nasal spray vaccine is likely to contribute to segmental growth.

By Distribution Channel Analysis

Hospital & Retail Pharmacies Segment Accounted for Lucrative Growth in the Market

Based on the distribution channels, the global influenza vaccine market is divided into hospitals & retail Pharmacies, government suppliers, and others. The Hospitals and retail pharmacy segment dominates the market share growth.

Factors such as a huge number of hospitals and pharmacies offering influenza vaccinations combined with the fact that the huge vaccination initiatives are led at smaller institutions. Furthermore, the high cases of influenza leading to higher hospital admissions are also projected to fuel segment growth.

On the other hand, the government suppliers segment is anticipated to hold a significant share as governmental administrations, through vaccination programs, benefit immunized individuals across the world. Furthermore, a large quantity of vaccine supply from hospitals is estimated to generate lucrative growth opportunities for the segment.

Key Market Segments

By Type

• Live Attenuated
• Inactivated

By Valency

• Quadrivalent
• Trivalent

By Age Group

• Pediatrics
• Adults

By Route of Administration

• Injection
• Nasal Spray

By Distribution Channel

• Hospital Pharmacy & Retail Pharmacy
• Government Suppliers
• Other Distribution Channels

Drivers

Approval of Influenza Vaccines Owing to Rising Government Provision for Immunization

Increasing government aid and effort on influenza vaccination is the important factors inducing the whole market. Observing influenza vaccine accessibility, delivery, and distribution requires international and national surveillance. In partnership with another government, the (WHO) World Health Organization continuously monitors the requirement and shows immunization programs worldwide to reduce the vaccine unsatisfied demand.

Administrations for instance, WHO’s Global Influenza Surveillance and Centers for Disease Control and Prevention and the health ministers of numerous countries are assisting in keeping approaches to chronic disease. Coupled with this, corresponding to various published news and articles, Asian regions have established to spread primary influenza vaccination events, maintaining the decrease of Influenza & COVID-19 cases concurrently.

Strong Research & Development contributions with a robust pipeline of applicants to Boost Market Growth

The rising R & D investments by key players, such as Sanofi S.A., GlaxoSmithKline plc, and CSL Limited, for increasing abilities and concentrating on introducing novel vaccines responsible for driving the market growth.

Restraints

Extensive Timeline for Vaccine Production Hamper Market Growth

Conforming the efficiency, safety, and quality of new vaccines is a vast method that typically takes around 10-15 years complete. Difficulties in vaccine research, regulatory development, and clinical development are the main causes of the extended timelines. There are significant regional differences in the world in the regulatory frameworks for clinical trials.  Hence, this might cause delays in the creation of novel vaccinations.

Furthermore, data from different regions is frequently requested for regulatory approval. Therefore, various countries have different labeling requirements combined with stretched timelines, which enhances more difficulty in the process of conducting clinical trials. Hence, the influence of strict regulatory demand of clinical trials is estimated to hinder product development.

Opportunity

The Increasing Government Support is the Significant Opportunity for Propelling Market Growth

The rising government initiatives supporting influenza vaccination is one of the main opportunity for fueling the global market. Considerable influenza vaccines in emerging countries produce significant growth opportunities for the global influenza vaccine market. The development facilities m novel vaccine developments, and advanced research by the companies are fueling the requirement for safe and effective influenza vaccines.

Trends

Addition of Advanced and Effective Vaccines in Immunization Programs to Benefits Growth

The increasing dominance of influenza disorders globally has initiated the utilization of various strategies by several governments to drive the approval of influenza vaccines in their particular countries. Currently, more consciousness among the population regarding infectious diseases has initiated the application of vaccines through immunization events for the prevention of influenza vaccines. Emerging regions have reviewed their immunization events and comprised compulsory influenza vaccination in the yearly program for all generations.

COVID-19 Impact Analysis

Industry Growth Preferred by the Rising Approval of Vaccines Expected COVID-19 Crisis

 The Globally routine immunization programs and campaigns carried out in emerging and developed countries are affected by the COVID-19 pandemic. In Addition, increasing awareness amongst the public about the higher threat of getting infected with COVID-19 if the flu weakens the immune system is an additional factor contributing to the acceptance of vaccines. Though, owing to the coronavirus outbreak, the growing focus on emerging coupled vaccines, m RNA vaccines, and others are offering several opportunities in the market.        

Regional Analysis

North American region Accounted Significant Revenue Share of the Global Influenza Vaccine Market

North America accounted for a significant influenza vaccine market revenue share of 53%. Owing to the rapid launch of effective products along with technically advanced vaccine production facilities around the region. Additionally, the rising dominance of influenza infection in Canada and the U.S. and the increasing sales of influenza vaccines in the region are also anticipated to propel the market growth.

Europe held the second prominent position in the global market. This is attributable to the extension of vaccination coverage for high-risk individuals prominent to greater immunization extents among the European population.

Asia-Pacific is anticipated to register at the fastest CAGR during the forecast period. The growing government advantages to offer vaccines and create awareness about influenza are estimated to drive market growth through the region. Latin America and, Middle East & Africa regions anticipated to account for significant growth throughout the forecast period due to rising government efforts to get everybody vaccinated, thereby propelling the market growth.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America

• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Strong Product Portfolio of Key Players to Dominated the Market Growth

The company focuses on launching novel manufacturing facilities and expanding its geographic effects. Sanofi, the prominent biopharmaceutical company, accounted for the influenza vaccine market share. Some of the prominent key players in the market include GlaxoSmithKline plc, AstraZeneca, Abbott, and others have their products marketed worldwide.

Key players

• Sanofi S.A.
• AstraZeneca plc
• CSL Limited
• BIKEN Co, Ltd.
• GlaxoSmithKline plc
• Abbott
• Sinovac Biotech Ltd.
• Viatris Inc.
• Merck & Co, Inc.
• EMERGEX VACCINES
• Pfizer Inc.
• Novartis AG
• Merck & Co., Inc.
• Johnson & Johnson
• Novavax, Inc.
• Hoffmann –La Roche Ltd
• Baxter International Inc.
• Flugen Inc.
• Vaxart Inc.
• Altimmune Inc.
• Shijiazhuang Yiling Pharmaceutical Co, Ltd
• BiondVax Pharmaceuticals Ltd.
• Daiichi Sankyo Company
• Other Key Players

Recent Development

• March 2022- Sequires announced the adoption of Flucevax quadrivalent, a cell-based influenza vaccine aimed at humans in the generation of 2 years and adults. This authorization by Health Canada completed offspring in the generation of two to eighteen years authorized for the vaccines.
• September 2021– Sanofi archived Translate Bio, a clinical-stage m RNA therapeutic industry for the advancement of novel vaccines for influenza.
• February 2021- GlaxoSmithKline plc extended an–existing partnership with Vir Biotechnology with an aim to progress monoclonal antibodies for the anticipation and treatment of influenza.

Report Scope