DUBLIN, Sept. 15, 2022 /PRNewswire/ -- The "Global Influenza Vaccine Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Influenza Vaccine market is expected to grow at a compound annual growth rate of 5.35% over the forecast period to reach a market size of US$6.017 billion in 2027from US$4.177 billion in 2020.
Influenza is a viral infection that affects the respiratory system and is caused by the flu virus. The influenza virus is infectious and spreads by respiratory droplets. It can also be passed from one person to another through conversation or physical touch. The influenza virus is constantly spreading, resulting in regional epidemics and outbreaks that kill thousands of people. Healthcare organisations like the Centers for Disease Control and Prevention (CDC) around the world are using vaccines like baloxavir marboxil (Xofluza) to treat the flu caused by the influenza virus. The rising prevalence of Sars-cov-2 across the globe and the rising investments in research and development to develop a vaccine that can fight against the COVID-19 virus are expected to drive the influenza vaccine market during the forecast period. According to the World Health Organization, annual influenza epidemics are estimated to severely affect 3-5 million people and cause 290k to 650k respiratory deaths. The growing geriatric population across the globe is also expected to increase the demand for influenza vaccines as people aged over 60 years are at greater risk of severe disease or health complications caused by the influenza virus.
Diabetes, cancer, anemia, obesity, immune deficiencies, human immunodeficiency virus (HIV), metabolic diseases, kidney disease, neurological disorders, and chronic heart and lung disorders like bronchopulmonary dysplasia, cystic fibrosis, and asthma are all increasing the risk of contracting influenza. This is a significant role in the market's expansion.
Furthermore, children under the age of five are at a higher risk of developing complications such as high fever, seizures, and pneumonia. This, together with increased parental concerns about their children's health, is impacting influenza vaccine demand in a good way. Growing awareness about the medication and prevention of influenza and an increasing number of government initiatives will further drive the growth of the market in the coming years.
The rising prevalence of influenza and the growing influenza vaccination drive
The centre for Disease Control and Prevention has estimated the number of people who fall ill because of the flu and calculated that around 9 to 41 million people were severely ill because of the flu caused by the influenza virus. About 140,000 - 710,000 people were hospitalised due to health-related complications caused by the influenza virus, and 12,000 - 52,000 deaths occured annually between 2010 and 2020.
The increasing global demand for coupled inductors has led to the entry of several new players in the global influenza vaccine market. To increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which are expected to keep the market competitive and constantly evolving. Major market players like Seqirus, GlaxoSmithKline PLC, and Sanofi Pasteur SA, among others, have been covered along with their relative competitive strategies. The report also mentions recent deals and investments by different market players over the last few years.
By Vaccine Technology
Middle East and Africa
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Influenza Vaccine Market, By Vaccine Technology
6. Global Influenza Vaccine Market, By End-User
7. Global Influenza Vaccine Market, By Geography
8. Competitive Environment and Analysis
9. Company Profiles.
Sanofi Pasteur SA.
Emergent BioSolutions Inc.
Gamma Vaccines Pty Ltd
F. Hoffmann-La Roche Ltd
For more information about this report visit https://www.researchandmarkets.com/r/nhpwdc
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SOURCE Research and Markets