The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global influenza vaccine market is estimated to record a CAGR of 6.43% over the forecast period of 2020-2028. A surge in the cases of influenza is a significant factor fueling the market growth. The other driving factors for the market are the government immunization programs to eradicate ailments from society, along with technological advancements.
Influenza is an acute respiratory illness caused by the influenza virus that affects the respiratory tract. Influenza viruses change continuously. Hence the vaccines have to be changed annually to match with the circulating influenza strains globally. The focus of various immunization programs is on increasing awareness among people towards vaccinations. For example, NAIIS AND CDC across the U.S. have undertaken some of the successful influenza vaccination initiatives. The recommendations made by the CDC are highly reliable and enhance the utilization of vaccines.
The high cost of vaccine development is one of the challenges faced by the market. The development of vaccines comprises of various phases, and the overall time period required from the development to the launch of the vaccine, may take 15-20 years. The overall development requires high monetary investments, which is estimated to be $200 million and $500 million per vaccine. The intensity of competition is high in the market as the market is dominated by a few established players. The quadrivalent influenza vaccine captured the highest market share in type segment in 2019, and is also estimated to be the fastest-growing influenza vaccine type.
The global influenza vaccine market is analyzed on the basis of the markets situated in North America, Europe, Asia Pacific, and the Rest of the world. The North American region dominates in terms of revenue, which is attributed to the rising incidences of influenza.
The market is dominated by well-established players such as Pfizer, Inc, Merck, Sanofi, Novartis AG, F. Hoffmann-La Roch Ltd, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments