USD 7.9 billion
Report ID:
SQMIG35B2144 |
Region:
Global |
Published Date: May, 2025
Pages:
200
|Tables:
114
|Figures:
77
Global Influenza Vaccine Market size was valued at USD 7.9 billion in 2023 and is poised to grow from USD 8.44 billion in 2024 to USD 14.28 billion by 2032, growing at a CAGR of 6.8% during the forecast period (2025-2032).
The influenza virus circulates continue indefinitely, causing regional epidemics and outbreaks that have resulted in thousands of deaths. For instance, according to data from the Centers for Disease Control and Prevention (CDC), more than 13 million flu cases have been recorded in the 2019-20 timeframe. The changing nature of the virus necessitates an annual change in the vaccine strain to match the influenza virus strain around the world. During the forecasted period, the increasing prevalence of influenza epidemics and seasonal outbreaks is expected to boost product sales.
In the current market scenario, there are numerous licensed seasonal influenza vaccines recommended by the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and other governmental organizations to help fight the disease. Governments have focused on encouraging people to get vaccinated as soon as possible to provide the best possible protection during flu season. Furthermore, pharmaceutical companies are constantly confronted with new challenges in developing a suitable vaccine against a specific strain. As a result, rising demand for effective flu vaccines is expected to drive the Influenza Vaccine Market market.
US Influenza Vaccine Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 7.9 billion
Largest Segment
Inactivated
Fastest Growth
Inactivated
Growth Rate
6.8% CAGR
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Global Influenza Vaccine Market is segmented by Vaccine Type, Vaccine Formulation, Technology, Route of Administration, Age Group, Distribution Channel and region. Based on Vaccine Type, the market is segmented into Quadrivalent and Trivalent. Based on Vaccine Formulation, the market is segmented into Inactivated and Live Attenuated. Based on Technology, the market is segmented into Egg-based Production, Cell-based Production and Recombinant-based Production. Based on Route of Administration, the market is segmented into Injection and Nasal Spray. Based on Age Group, the market is segmented into Pediatric, Adult and Geriatric. Based on Distribution Channel, the market is segmented into Hospital & Pharmacies, Government & Institutional Supply and Other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
In 2022, the inactivated segment held the most dominant share of the global influenza vaccine market. The dominance is due to higher sales associated with demand for inactivated vaccines. Industrialists are also focused on developing inactivated vaccines, which are standardized based on the specific virus strain. This feature of the vaccines aids in reducing the flu in less time and reverting positive effects. Currently, inactivated vaccines such as Seqirus' AFLURIA FLUCELVAX, GlaxoSmithKline's FLUARIX and FLULAVAL, and Sanofi's FLUZONE are recommended. The rising demand, combined with the high prevalence of influenza, is driving the segment's highest CAGR during the forecast period. Live attenuated vaccines, on the other hand, are expected to grow at a slower rate due to numerous challenges.
In 2021, hospital and retail pharmacies generated the most revenue among all distribution channel segment. This dominant position is attributable to the fact that vaccination is generally preferred and accomplished in smaller institutions. Furthermore, the large supply of vaccines from hospitals is expected to generate a high market value in the coming years. As a result, hospital and retail pharmacies are expected to have the highest CAGR during the forecast period.
On the other hand, Government suppliers are expected to hold a significant share because governmental organizations, through their vaccination programmes, help immunise individuals globally. Furthermore, international health organizations are acquiring a large quantity of vaccination doses and supplies at a low or no cost to all of the regions covered by these organizations. The growing vaccination programs will further help in generating comparatively higher market value in the projected period.
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In 2021, North America dominated the influenza vaccine market and is anticipated to maintain its dominance throughout the forecast period. Rapid product launches, combined with technologically advanced vaccine manufacturing systems across the region, are expected to drive market growth in the region. Furthermore, rising influenza prevalence and high vaccine sales are expected to fuel market growth in North America. Furthermore, rising government funding, the presence of strong key players, and sophisticated vaccination centres and hospitals will all contribute to the market's stellar growth.
In the coming years, Asia-Pacific is expected to grow at an exponential rate. Because of the region's growing population in countries such as China and India, the demand for effective vaccines, which leads to higher sales, is expected to drive market growth. Furthermore, a proactive government initiative in the supply of flu vaccines across the region, combined with improved influenza control strategies, is expected to drive influenza market growth across the region. For example, in September 2020, Japan's health ministry has begun preparing 31.2 million flu vaccines, 7% more than the previous year, in order to immunize its population against influenza.
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Companies are trying to expand their product pipelines by submitting new molecule applications or expanding the application of current molecules. Other strategies, including as mergers and acquisitions, industry-academia partnership to commercialize more marketed molecules, or sequencing approaches, will also have an impact on current market trends. The research also outlines company-specific product development strategies, market consolidation initiatives, and analyses of their individual strengths, weaknesses, opportunities, and threats.
Sanofi, a global leader in the healthcare industry, dominates the influenza vaccine market. Sanofi has a comprehensive vaccine portfolio that includes quadrivalent and trivalent vaccines. By constantly upgrading its technologies, the company focuses on delivering effective vaccines. Other companies, such as CSL Limited, GlaxoSmithKline plc, and AstraZeneca, have effective products that are marketed globally. Furthermore, factors such as increasing efforts to reduce disease burden and rising vaccination rates are the primary focus of market participants.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, one of the key factors driving the market growth is an increase in government support and surveillance regarding influenza vaccination on the national and global levels to monitor the supply, distribution, and administration of flu vaccines. Furthermore, increased investment by leading market players globally, as well as increased government funding, have facilitated the launch of therapeutically effective vaccines, propelling the influenza vaccine market growth.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 7.9 billion |
Market size value in 2032 | USD 14.28 billion |
Growth Rate | 6.8% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Influenza Vaccine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Influenza Vaccine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Influenza Vaccine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Influenza Vaccine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Influenza Vaccine Market size was valued at USD 7.91 Billion in 2023 and is poised to grow from USD 8.46 Billion in 2024 to USD 14.52 Billion by 2032, growing at a CAGR of 6.98% during the forecast period (2025-2032).
Companies are trying to expand their product pipelines by submitting new molecule applications or expanding the application of current molecules. Other strategies, including as mergers and acquisitions, industry-academia partnership to commercialize more marketed molecules, or sequencing approaches, will also have an impact on current market trends. The research also outlines company-specific product development strategies, market consolidation initiatives, and analyses of their individual strengths, weaknesses, opportunities, and threats. 'GSK plc (U.K.) ', 'Pfizer Inc. (U.S.) ', 'Vaxess Technologies Inc. (U.S.) ', 'Merck & Co., Inc. (U.S.) ', 'Viatris Inc. (U.S.) ', 'OSIVAX (France) ', 'AstraZeneca (U.K.) ', 'SINOVAC (China) ', 'CSL Limited (Australia) ', 'Emergent BioSolutions Inc. (U.S.) ', 'Emergex Vaccines (U.K.) ', 'Sanofi (France) ', 'BIKEN Co., Ltd. (Japan) ', 'Abbott (U.S.) ', 'Altimmune Inc. (U.S.) ', 'Baxter International Inc. (U.S.) ', 'BioDiem Ltd (Australia) ', 'BiondVax Pharmaceuticals Ltd. (Israel) ', 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'FluGen Inc. (U.S.) ', 'Mitsubishi Chemical Group Corp. (Japan) ', 'Novavax Inc. (U.S.) ', 'Otsuka Holdings Co. Ltd. (Japan) ', 'Shijiazhuang Yiling Pharmaceutical Co., Ltd. (China) ', 'SK Chemicals Co., Ltd. (South Korea)'
The increasing government support and surveillance for influenza vaccination is one of the critical and significant factors driving the global market. Surveillance at the national and global levels is required to monitor the supply, distribution, and administration of flu vaccines. WHO, in collaboration with other governments, constantly monitors demand and conducts immunization programmes around the world to reduce the vaccine's requirement in the region. For instance, in year 2021, the Australia government has already vaccinated approximately 5 million people through this immunization programme, and more than 20 million vaccines are still available.
The coronavirus pandemic had an unforeseen impact on routine immunization programmes and campaigns in both developing and developed countries. However, flu vaccination rates have increased significantly during the pandemic due to factors such as increased pressure from health experts/health departments, as well as the extension/expansion of various government programmes that provide free flu vaccination.
In 2021, North America dominated the influenza vaccine market and is anticipated to maintain its dominance throughout the forecast period. Rapid product launches, combined with technologically advanced vaccine manufacturing systems across the region, are expected to drive market growth in the region. Furthermore, rising influenza prevalence and high vaccine sales are expected to fuel market growth in North America. Furthermore, rising government funding, the presence of strong key players, and sophisticated vaccination centres and hospitals will all contribute to the market's stellar growth.
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