Global Influenza Vaccine Market

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 2024-2031

Report ID: SQMIG35B2144 | Region: Global | Published Date: February, 2024
Pages: 200 | Tables: 114 | Figures: 77

Global Influenza Vaccine Market News

  • 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.
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Global Influenza Vaccine Market size was valued at USD 6.81 billion in 2019 and is poised to grow from USD 7.28 billion in 2023 to USD 12.37 billion by 2031, growing at a CAGR of 6.83% in the forecast period (2024-2031).

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 Pasteur', 'GlaxoSmithKline', 'Seqirus (a division of CSL Limited)', 'AstraZeneca', 'Pfizer', 'Merck & Co.', 'Johnson & Johnson', 'Novartis', 'Serum Institute of India', 'Daiichi Sankyo Company, Limited', 'Mitsubishi Tanabe Pharma Corporation', 'Sinovac Biotech Ltd.', 'Abbott Laboratories', 'Bavarian Nordic A/S', 'Hualan Biological Engineering Inc.', 'BiondVax Pharmaceuticals Ltd.', 'Medicago Inc.', 'Altimmune Inc.', 'Vaxart Inc.', 'Moderna Inc.'

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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