Influenza Vaccine Market to Reach USD 10952 Million by 2028 at a CAGR of 5.3% | Valuates Reports

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BANGALORE, India, April 14, 2022 /PRNewswire/ -- The Influenza Vaccine Market is Segmented by Type (Trivalent Influenza Vaccine, Quadrivalent Influenza Vaccine), by Application (For Children (6 months to 3 years), For Adults and Children over 3 years): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Infectious Diseases Category.

Due to the COVID-19 pandemic, the global Influenza Vaccine market size is estimated to be worth USD 8036 Million in 2022 and is forecast to be a readjusted size of USD 10952 Million by 2028 with a CAGR of 5.3% during the review period.

Major factors driving the growth of the influenza vaccine market are:

The influenza vaccine market is expected to be fueled by an increase in the prevalence of influenza epidemics and seasonal outbreaks, as well as the recent Covid-19 outbreak. Furthermore, increased investment by leading market players around the world has aided the development of therapeutically effective vaccines, which will propel the influenza vaccine market forward.

One of the key factors driving the market growth is an increase in government support and surveillance regarding influenza vaccination on a national and global level to monitor the supply, distribution, and administration of flu vaccines.                     

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TRENDS INFLUENCING THE GROWTH OF INFLUENZA VACCINE MARKET

The global influenza vaccine market is expected to grow positively as a result of the COVID-19 outbreak. As the number of people infected with the COVID-19 virus grows, the demand for influenza vaccines rises. COVID-19 will not be prevented by the influenza vaccine, but it will reduce illness, death, and hospitalization. Patients with COVID-19 who have been vaccinated with the influenza vaccine are less likely to be admitted to an intensive care unit. As a result, there is a rise in demand for influenza vaccines.

The inclusion of advanced and effective flu vaccines in immunization programs is expected to aid the growth of the influenza vaccine market. The rising global prevalence of influenza disease has prompted governments to implement a variety of strategies to increase flu vaccine uptake in their countries. One of the most important strategies for incorporating the vaccine into the immunization programs of countries with a program on emerging and low-income economies. In developing countries, timely vaccination has become more common as a result of increased public awareness about infectious diseases. Developing countries have revised their immunization programs to include flu vaccination as a requirement for all age groups in the annual program.

The Influenza Vaccine Market is being driven by the rising prevalence of influenza each year, as well as potential changes in awareness and testing. The growth is being aided by the optimization of several programs and the licensing of numerous seasonal influenza vaccines that have been prequalified for purchase by the WHO. The Influenza Post-Introduction Evaluation (IPIE) evaluates an immunization program's strengths and weaknesses at the national, subnational, and service delivery levels, supplying evidence for the program's strategic directions and priority activities.

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INFLUENZA MARKET SHARE ANALYSIS:

Based on type, the Quadrivalent Influenza Vaccine is expected to hold the largest market with a share of over 95%, due to its ability to immunize four influenza virus strains (two A subtypes and two B subtypes — H1N1 and H3N2 and Victoria and Yamagata, respectively).

Based on the application, Adults and Children over 3 years are expected to hold the largest market with a share of over 73%.

Based on region, North America is the largest market for Influenza Vaccine, with a share of over 55%. This is due to an increase in influenza prevalence in the region, increased government focus on immunization programs, the introduction of new vaccines, and advancements in vaccine administration technology.

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TOP COMPANIES IN THE INFLUENZA MARKET

The top companies manufacturing Influenza Vaccine are CSL, GSK, Sanofi, Viatris, Hualan Bio, AstraZeneca, Changchun Institute of Biological, etc. The top five companies in the Influenza Vaccine market held a market share of approximately 85.04% in 2021.

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SIMILAR REPORTS:

-  The global Influenza Diagnostics market size is projected to reach USD 3374.9 Million by 2027, from USD 2195.6 Million in 2020, at a CAGR of 6.3% during 2021-2027.

-  In 2020, the global Vaccines market size was USD 42560 Million and it is expected to reach USD 62780 Million by the end of 2027, with a CAGR of 5.6% during 2021-2027.

-  The global Infectious Disease Diagnostics market size is projected to reach USD 4776.2 Million by 2027, from USD 3644 Million in 2020, at a CAGR of 4.3% during 2021-2027.

-  The global cell culture market accounted for USD 16,107.7 Million in 2019 and is expected to reach USD 36,926.8 million by 2027, registering a CAGR of 10.9% from 2020 to 2027.

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