Flu Vaccine Market Scope
According to the World Health Organization (WHO), 2018, Influenza cases related to hospitalization ranges in 3-5 million cases for severe illness, whereas Deaths related to Influenza are about 290,000 to 650,000. The unhealthy food habits of people coupled with seasonal outbreaks have accelerated the growth of Pandemic Vaccine production with the novel Vaccine Technology across Emerging countries. The influenza virus, also called flu, is a contagious respiratory illness caused by Influenza viruses that infect the nose, throat, and sometimes the lungs. It can cause mild to severe illness, and at times can lead to death. A Flu vaccine is a combination of three Influenza viruses namely, Influenza type A with H3N2 virus strain, Influenza type A with H1N1 virus strain and Influenza type B virus strain. Vaccine available in the market such as Quadrivalent Influenza Vaccine (split virion, inactivated) is indicated for active immunization of adults and children from 6 months of age and older for the prevention of influenza disease caused by the two Influenza A virus subtypes and the two Influenza B virus types contained in the vaccine.
The market is fragmented with numerous top-notch International manufacturers who are involved in adopting new strategies for flu vaccine and are investing heavily for the market. For Instance, In November 2018, Seqirus Announced USD 140 Million for Manufacturing & Expansion to Meet Growing Demand for Innovative Cell-Based Influenza Vaccines. The big shot vaccine manufacturers are also focused upon acquiring new technologies and strengthening their presence in the market by collaborating with or acquiring small and medium-sized biotech companies that have strong vaccine candidates in their pipeline. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Flu Vaccine market throughout the predicted period.
CSL Limited (Australia), GlaxoSmithKline plc (United Kingdom), Sanofi Pasteur (France), Mylan N.V (United States), AstraZeneca PLC (United Kingdom), Pfizer Inc. (United States), Johnson & Johnson (United States) and Sinovac Biotec Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Novartis AG (Switzerland), MedImmune (United States), Solvay (Belgium) and Sequirus Limited (United Kingdom).
Segmentation Overview
The study have segmented the market of Global Flu Vaccine market by Type (Whole Virus Vaccines, Split Virus Vaccines, Subunit Vaccines and Live Attenuated Virus Vaccines), by Application (For Children (6 months to 3 years) and For Adults and Children over 3 years) and Region with country level break-up.
On the basis of geography, the market of Flu Vaccine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
Influencing Trend:
High Demand for the Quadrivalent Vaccine due to inexpensive nature & also the vaccine got approval from the Food & Drug Administration in 2017.
Market Growth Drivers:
The Emergent Government Policies and Innovations in Influenza Vaccine, Increasing Disease Awareness on Influenza Caused By the Threat of A Pandemic Influenza Outbreak, Wide Vaccination Coverage for Influenza Virus and The aging population and increasing prevalence of chronic diseases
Challenges:
Trivalent vaccines did not cover the entire Influenza type B virus.
Restraints:
Varying demand & Limited Production Capacity, High Level of Required Investment and Strict Regulations is presenting barriers to the New Entrants of The Market.
Opportunities:
Various companies have their on-going activities for newer technological development Novel Influenza vaccine helping the market to revolutionize.
Market Leaders and their Expansionary Development Strategies
WHO and its partners “Global Influenza Strategy” launched in 2018. Aligned with the general programme of work 2019-2023 (GPW13), the new strategy that will help in developing seasonal influenza prevention and control capacities. and These national efforts, in turn, will build greater global preparedness for the next pandemic. Globally, the strategy will focus on research and innovation. This will include improved influenza modelling and forecasting, along with the development of new vaccines, including a possible universal Influenza vaccine.
On September 27, 2018, the Centers for Disease Control and Prevention (CDC) and the National Foundation for Infectious Diseases (NFID) along with other Public health and Medical groups held a 2018-2019 Flu Vaccine Campaign.
Key Target Audience
Influenza Vaccine Manufacturers, Government & Regulatory Bodies, Research Organizations, Potential Investors, Downstream Vendors and Pharmaceutical Companies
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.