Global Influenza Vaccine Market Size, Share, Growth Analysis, By Type(Inactivated, Live Attenuated), By Valency(Quadrivalent, Trivalent), By Age Group(Pediatric, Adults), By Distribution Channel(Hospital & Retail Pharmacies, Government) - Industry Forecast 2022-2028

The Global Influenza Vaccine Market is segmented based on type, valency, Age-group, distribution channel, and region. Based on type it is categorized into Inactivated and Live Attenuated. Based on valency it is categorized into Quadrivalent and Trivalent. Based on age group it is categorized into Pediatric and Adults. Based on distribution channel it is categorized into hospital & retail pharmacies, government, and others. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Type

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.

Analysis by Distribution channel

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.

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.

Driver

• 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.
• Organizations such as the World Health Organization's Global Influenza Surveillance and Response System (GISRS), the Centers for Disease Control and Prevention (CDC), and health ministries from various countries are assisting in the tracking of chronic diseases. According to SQ analysis, Asian countries have begun to roll out early influenza vaccination programmes with the goal of reducing flu and COVID-19 cases at the same time. As a result, active government support is required to boost the market's growth rate.

Restraint

• Novel vaccine development is a lengthy process that typically takes 10 to 15 years to complete, in addition to establishing its safety, quality, and efficacy. Long timelines are caused by three major factors: vaccine development complexities, globalised clinical development, and divergent regulatory requirements. Regulatory requirements for clinical trials differ significantly across countries. As a result, significant delays in the development of novel vaccines may occur. Furthermore, data from various countries/regions is frequently requested for regulatory approval purposes. However, many countries have different labelling requirements, as well as compressed timelines, which complicates the process of conducting clinical trials around the world. Therefore, impact of the stringent regulatory requirements coupled with longer duration for conductance of clinical trial is anticipated to hamper the product development.

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.

Top Players Company Profiles

• GlaxoSmithKline plc. (UK)
• Sanofi S.A (France)
• AstraZeneca (UK)
• Seqirus (UK)
• BioDiem (Australia)
• Emergent BioSolutions Inc. (US)
• Sinovac Biotech Ltd (China)
• Novartis Ag (Switzerland)
• Pfizer, Inc. (US)
• Sinovac Biotech Ltd. (China)

Recent Developments

• In June 2022, Sanofi restructured its immuno-oncology collaboration with Regeneron Pharmaceuticals, Inc. Regeneron will have worldwide exclusive licensing rights to Libtayo under the modified and restated license and partnership agreement.
• In May 2022, GSK plc announced that it has entered into a final agreement to acquire Affinivax, Inc. (Affinivax), a clinical-stage biopharmaceutical business located in Cambridge, Boston, Massachusetts, for a $2.1 billion upfront payment and up to $1.2 billion in possible development milestones.
• In May 2021, During the pandemic, Australia launched a national flu vaccination programme to reduce the population's infection rate. As a result, seasonal vaccines are now available in Australia through community pharmacies and general practitioners.
• In March 2021, Sanofi announced USD 736.9 million investment in its Canadian vaccine facility to increase supply of influenza vaccines in Canada, the United States, and Europe. With the goal of increasing supply in these countries, this facility will provide additional antigen and filling capacity for Sanofi's Fluzone High-Dose Quadrivalent influenza vaccine.

• 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.
• Furthermore, growing public awareness about the increased risk of getting infected with COVID-19 if the flu weakens the immune system is another factor contributing to flu vaccine uptake. For instance, the Centers for Disease Control and Prevention (CDC) reported that as of May, over 189.4 million flu vaccines for the 2020-2021 flu season had been distributed in the United States, compared to 174 million in the 2019-2020 season. In addition, according to the most recent study published in 2020, researchers in Brazil stated that a flu shot could reduce mortality rates by 20% when administrated prior to initiation of COVID-19 and by approximately 27% when administered after the onset of COVID-19. As a result, the above- mentioned factors are likely to drive demand over the forecast year.
• The increasing prevalence of influenza disease around the world has prompted governments to implement various strategies to increase flu vaccine uptake in their respective countries. One of the most important strategies in the inclusion of the vaccine in the immunization programmes of countries focusing on emerging and low-income economies. Nowadays, increased public awareness of infectious diseases has resulted in more timely vaccinations in developing countries. Developing countries have revised their immunization programmes and made flu vaccination mandatory for all age groups.

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.