The Global Influenza Vaccine Market was valued at USD 6.65 Billion in 2022 and is projected to reach USD 11.42 Billion by 2030, registering a CAGR of 6.80% for the forecast period 2023-2030.
Market Definition
Influenza is the term for the viral infection that affects the respiratory system as a result of the flu. The influenza virus is spread by respiratory droplets and is communicable. Additionally, it can transfer from one person to another through physical contact or conversation. One of the key factors propelling the market growth is the rise in government support and surveillance regarding influenza vaccination on a national and international scale. This involves keeping an eye on the supply, distribution, and administration of flu vaccines. Furthermore, the introduction of therapeutically effective vaccines has been made possible by an increase in government funding and global investment by top market players, which has propelled the growth of the influenza vaccine market. Influenza is the term for the viral infection that affects the respiratory system as a result of the flu. The influenza virus is spread by respiratory droplets and is communicable.
Market Size:
- 2022: USD 6.65 Billion
- 2030: USD 11.42 Billion
- CAGR (2023-2030): 6.80%
Influenza Vaccine Market Dynamics
Drivers Propelling the Demand for Influenza Vaccine include
Growing Uptake of Influenza Vaccines as a Result of Growing Government Immunization Assistance : Increasing the level of government support and prioritizing influenza vaccination is a crucial factor impacting the worldwide market. National and international surveillance are needed to track the availability, distribution, and delivery of vaccines. To reduce the amount of unmet vaccine, needs, the World Health Organization works with other governments to conduct global immunization programs and continuously monitor demand. Chronic disease surveillance is aided by institutions like the World Health Organization's Global Influenza Surveillance and Response System (GISRS), the Centers for Disease Control and Prevention (CDC), and the health ministries of several nations. In addition, Asian nations have begun implementing early vaccination campaigns against influenza to concurrently lower COVID-19 and influenza cases. Thus, during the forecast period, active government support is anticipated to support the market growth rate. Free or inexpensive influenza vaccinations are frequently offered by government-funded immunization programs, removing any financial obstacles that may have previously kept people from receiving the shot. The market demand and vaccination rates are being further stimulated by this greater affordability. Demand for the vaccine is rising as a result of government campaigns and initiatives that increase public awareness of the value of influenza vaccination. More people are being vaccinated as a result of public health messaging and educational initiatives that debunk myths and emphasize the advantages of vaccination.
For instance, in October 2022, For the first time since before the COVID-19 pandemic, the Centers for Disease Control and Prevention (CDC) and the National Foundation for Infectious Diseases (NFID) held an in-person press conference at the National Press Club to officially launch the 2022–2023 flu vaccination season.
Growing incidence and prevalence of influenza will fuel market expansion : The increasing incidence and prevalence of the illness are major drivers driving the market for influenza vaccinations. There is a rise in influenza cases across all age groups. Based on data from the Centers for Disease Control and Prevention, between October 1, 2019, and March 21, 2020, 39 to 56 million Americans contracted influenza due to the influenza virus. Furthermore, hospital admissions increased from 400,000 on October 1, 2019, to 730,000 on March 21, 2020, as a result of the nation's growing influenza prevalence. As a result, the increasing incidence and prevalence of the illness are driving the need for influenza vaccinations as a treatment. Consequently, the market CAGR for influenza vaccines is being driven by this factor. Moreover, heightened governmental focus and endorsement of influenza vaccination are pivotal factors that impact the market. When assessing the accessibility, distribution, and administration of flu vaccinations, it's critical to carry out both national and international surveillance. In order to lower the number of vaccines that remain unmet, the World Health Organization, working with other governments, regularly assesses vaccine demand and conducts global immunization campaigns. Organizations such as the Centers for Disease Control and Prevention (CDC), the WHO's Global Influenza Surveillance and Response System (GISRS), and the health ministries of different countries keep an eye on chronic diseases. According to a number of news reports and published publications, Asian countries have also reportedly started to introduce early influenza vaccination programs that prioritize the concurrent reduction of COVID-19 infections and the flu. Thus, during the projection period, active government support is expected to accelerate the market's growth rate.
For instance, in December 2022, according to the Health Protection Surveillance Center, Ireland, Since October 2022 (season to date), 3,263 confirmed influenza cases have been reported to HPSC. During week 50, 294 hospitalized confirmed influenza cases were reported with 1,003 hospitalized influenza cases notified for the season to date including 25 confirmed influenza cases admitted to critical care units.
Recent Developments
In October 2023, Pfizer Inc. and BioNTech SE announced positive topline results from a Phase 1/2 study evaluating the safety, tolerability, and immunogenicity of mRNA-based combination vaccine candidates for influenza and COVID-19 among healthy adults 18 to 64 years of age. In the clinical trial, the vaccine candidates were compared to a licensed influenza vaccine and the companies’ Omicron BA.4/BA.5-adapted bivalent COVID-19 vaccine given at the same visit. The data from the trial showed that the companies' lead formulations demonstrated robust immune responses to influenza A, influenza B, and SARS-CoV-2 strains.
In August 2022, Vaxess Technologies, Inc., a life sciences company developing a shelf-stable, sustained-release vaccine patch, today announced that it has launched a phase 1 trial for the H1 influenza vaccine delivered via Vaxess’s MIMIX patch.
Restraint
High cost of Vaccine : Some people may not be able to afford influenza vaccinations due to their high cost, especially those who are uninsured or from low-income backgrounds. Reduced vaccination rates and heightened influenza susceptibility may result from this, particularly in susceptible populations. Healthcare systems may experience financial strain due to the high cost of influenza vaccinations, especially in environments with limited resources. This may restrict the number of vaccines available and impede attempts to increase vaccination rates. Price sensitivity is rising among consumers, particularly in the healthcare industry. Even if someone understands the importance of vaccination, high vaccine costs may discourage them from getting vaccinated. The high price of influenza vaccinations can put pressure on public coffers and reduce the amount of funding available for immunization campaigns. This may make it more difficult to protect vulnerable groups and increase vaccination rates. Investments in the creation of novel and enhanced influenza vaccines may be restricted due to the high expense of vaccine development and manufacturing. This may impede the development of vaccines that are more efficient, widely available, and reasonably priced, this factor hindered the growth of the influenza vaccine market.
For instance, in May 2023, according to the Centers for Medicare & Medicaid Services, the cost of Sanofi Pasteur was $73.403, Medimmune was $27.788, and Seqirus was $34.172.
Challenges
Extended Period for Vaccine Manufacturing to Control Market Expansion : A novel vaccine's safety, effectiveness, and quality must all be established. This is a lengthy process that usually takes ten to fifteen years to finish. Three primary factors contribute to the long timelines: regulatory requirements, clinical development complexity, and vaccine research complexity. The global regulatory frameworks about clinical trials exhibit notable regional variations. Consequently, this could result in considerable delays in the development of new vaccines. The American Council on Science and Health (ACSH) reports that the overall success rate of vaccinations is approximately 33.4%. Moreover, regulatory approval frequently requires data from several nations or regions. Yet, the process of carrying out clinical studies globally is made more difficult by the disparate labeling requirements and extended timelines found in many nations. Therefore, it is expected that the longer time required to conduct clinical trials and the stricter regulatory requirements will hinder market growth.
Opportunities
Growing technology advancement is a significant opportunity : While sophisticated delivery systems guarantee the precise and regulated release of the vaccine antigen, adjuvants are chemicals that strengthen the immune response to vaccinations. These developments have the potential to increase market share by enhancing vaccine efficacy, lowering dosage requirements, and reducing adverse effects. Egg-based techniques, which are labor-intensive and prone to supply chain interruptions, are the foundation of conventional influenza vaccine production. A more effective and scalable method is provided by cell-based production technologies, which allows for quicker vaccination production and lower manufacturing costs. The quick modification of influenza virus antigens made possible by reverse genetics techniques speeds up the creation of vaccines against novel or emerging strains.
Chimeric vaccines offer a wider range of protection by combining elements from several influenza strains. To detect influenza virus mutations, forecast virus evolution, and improve vaccine design, artificial intelligence, and machine learning are being used. These instruments can boost vaccination efficacy against circulating strains and expedite vaccine development. The goal of personalized vaccination strategies is to adjust influenza vaccines based on a person's immune system and genetic composition.
Snapshot:
| Attributes | Details |
| Market Size in 2022 | USD 6.65 Billion |
| Market Forecast in 2030 | USD 11.42 Billion |
| Compound Annual Growth Rate (CAGR) | 6.80 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Vaccine Type, By Indication, By Age, By Route of Administration, By Distribution Channel & By Region |
| By Vaccine Type |
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| By Indication |
|
| By Region |
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| Base Year | 2022 |
| Historical Year | 2018 - 2022 |
| Forecast Year | 2023 - 2030 |
Segment Analysis of the Influenza Vaccine Market
The Influenza Vaccine market is segmented by Vaccine Type, Indication, Age Group, and region.
By Vaccine Type
The Inactivated segment held the largest market share in 2022 : By Vaccine Type is sub-segmented into inactivated, and live attenuated. The inactivated segment accounted for the highest market share 85% in the global Influenza Vaccine market for 2022. There is a considerable body of clinical research demonstrating the safety and effectiveness of inactivated influenza vaccinations in preventing influenza-related illnesses. Standardized and well-established manufacturing procedures are used to produce inactivated influenza vaccines, guaranteeing consistency and dependability in vaccine production. Patients and healthcare professionals alike generally accept inactivated influenza vaccinations because they are generally thought to be safe and well-tolerated. Generally speaking, inactivated influenza vaccinations are less expensive than live attenuated influenza vaccines (LAIVs), another type of influenza vaccine.
On the other hand, the live attenuated segment has a significant market share over the forecast period, because of the various obstacles that businesses encounter when developing and approving vaccines. Furthermore, live attenuated vaccination is not advised for certain patients, including those with weak immune systems, asthma, and pregnant women. Nevertheless, end users have not been able to embrace it widely. July 2022 research published by Springer Nature Limited states that safety concerns, low immunogenicity, and intricate manufacturing processes have overshadowed the benefits of live attenuated vaccines. The same study reported on the use of proteolysis-targeting chimeric (PROTAC) technology to produce a live attenuated influenza A vaccine.
By Indication
The Quadrivalent segment was the leading segment in 2022 : By Indication, which is divided into Quadrivalent and trivalent. The Quadrivalent segment accounted for the largest share 87% in the global Influenza Vaccine market for 2022. Sales have increased in both developed and emerging countries to meet government-set vaccination targets and prevent influenza outbreaks. The introduction of innovative vaccines has also helped the quadrivalent market to grow. Additionally, potential quadrivalent pipeline candidates combined with safety and immunogenicity attributes guaranteed a higher CAGR throughout the forecast period. The reason for the growth is the product's high efficacy against viral infections, affordability, and accessibility in clinics and hospitals. Furthermore, a greater inclination among medical professionals towards quadrivalent vaccines is anticipated to bolster the growth of this segment. The NHS England and the UK Health Security Agency (UKHSA) announced in January 2023 that orders for influenza vaccinations for the children's program for 2022–2023 were being placed.
On the other hand, the trivalent segment is anticipated to expand over the forecast period, because it is less effective than other vaccine types in terms of protecting against the influenza virus and is also more expensive. To determine the degree of protection that the trivalent influenza vaccine offers for various age groups, researchers conducted a study.
The trivalent Fluad adjuvanted vaccine provides superior protection against influenza-related hospitalizations and emergency admissions than standard-dose vaccinations, according to an article published in October 2022 based on CDC observational data. In older adults, the Fluzone high-dose vaccination based on trivalent was 24% more effective than the standard dose.
By Age Group
The Pediatric segment was the leading segment in 2022 : By Age Group, which is divided into pediatric, and adult. The Pediatric segment accounted for the largest share 79% in the global Influenza Vaccine market in 2022. The reason for the dominance is that newborns, infants, and children received higher doses of vaccinations to protect them against influenza disease from an early age. Immunization strategies, such as providing vaccines to all children worldwide at a young age, were put into practice by the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC). A significant rise in the frequency and incidence of influenza in young children has prompted the development of several tactics. The demand for pediatric vaccines for older infant age groups has increased since 2010, according to the Centers for Disease Control and Prevention (CDC). This increase is due to hospitalizations of children due to the flu.
The adult segment is anticipated to register rapid growth in the forecast period, because of the expansion of government immunization programs and the large doses of vaccines that GAVI, PAHO, and UNICEF purchase. Furthermore, the requirement for immunization coverage has increased the number of older people receiving vaccinations, which has raised the demand for adult vaccines.
Regional Analysis
North America occupied the largest market share in 2022 : North America has the largest revenue market share 53.35% in 2022, This is brought about by increased public awareness of influenza infections and the available treatments, government education initiatives, and the development of new vaccines made possible by technological advancements. The presence of significant market players in the area and their substantial R&D spending are also factors contributing to the market's growth. The influenza pandemic has become more common in North America, which has expanded the market. Nearly 150,865 influenza-positive cases were reported to the CDC in December 2022; of these, 149,704 cases were associated with the influenza A virus and 1,61 with the influenza B virus. Furthermore, from August 2022 to December 2022, approximately 34,413 influenza cases were reported in Canada, according to information released by the Public Health Agency of Canada in December 2022. It is anticipated that the high rate of influenza cases in North America will increase demand for influenza vaccines and spur market expansion in this area.
On the other hand, Asia Pacific accounted for a significant share over the forecast period, The increasing number of government initiatives to provide these vaccines and create awareness about influenza is anticipated to drive market growth across the region. Also, the rising population across the region in China and India and the demand for effective vaccines leading to higher sales are expected to boost the market growth. Other factors contributing to the market growth are the increasing geriatric population, improving healthcare infrastructure, and entry of new players. In February 2023, SK Bioscience announced that it would invest USD 261 million to build a Songdo Global Research & Process Development Center for vaccine R&D. In addition, owing to the region’s large population, the rate of transmission is also higher. According to the Singapore Ministry of Health, the country has a higher burden of respiratory infections such as influenza than other diseases.
List of the prominent players in the Influenza Vaccine Market:
- Biodiem Ltd
- Sanofi
- AstraZeneca Plc (AstraZeneca)
- Hoffmann-La Roche Ltd.
- Merck & Co., Inc. (Merck Sharp & Dohme Corp.)
- Emergent BioSolutions Inc.
- Pfizer, Inc.
- CSL Limited (Seqirus Gmbh)
- GlaxoSmithKline Plc
- Gamma Vaccines Pty Ltd
Segmentation Analysis of the Influenza Vaccine Market
By Vaccine Type
- Inactivated
- Live Attenuated
- Trivalent
- Quadrivalent
- Adult
- Pediatric
- Injection
- Nasal Spray
- Hospitals & Pharmacies
- Government & Institutional Supply
- Other
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Impact of the COVID-19 Pandemic on the Influenza Vaccine Market:
The coronavirus pandemic affects global routine immunization programs and campaigns that are implemented in both developed and developing nations. Nonetheless, during the pandemic, the expansion of government vaccination programs and pressure from health departments led to a rise in the vaccination rate. Another factor influencing the uptake of vaccines is the public's growing awareness of the increased risk of contracting COVID-19 if the flu compromises immunity. The American Medical Association (AMA) released data in 2021 that showed a 9.0% increase in influenza vaccinations during the COVID-19 pandemic in New York and the other 10 states in the United States as compared to the prior years. Furthermore, in 2020, the Therapeutic Goods Administration (TGA) in Australia processed approximately 19.0 million vaccine doses, a rise of nearly 5.0 million from the previous year. But because of the coronavirus pandemic, there are now more opportunities in the market for the development of combination vaccines, mRNA vaccines, and other vaccines. The creation of a COVID-19 and influenza vaccine combination would speed up production by cutting costs and manufacturing time.
