Influenza Vaccine Market Growth & Trends

The global influenza vaccine market size is expected to reach USD 12.37 billion by 2030 and is set to expand at 6.83% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increase in immunization programs, rising awareness regarding flu and influenza, and surge in R&D activities pertaining to flu vaccines are anticipated to propel market growth. In addition, the inclusion of the influenza vaccine in various national immunization programs and increasing awareness programs for immunizations across the globe is anticipated to boost the market growth.

 The ongoing influenza vaccination national schemes globally are anticipated to propel the market. For instance, programs such as Universal Influenza Immunization Program and NIP Vaccination Programs among others are some of the key immunization programs. These offer flu vaccines free of cost to all the target population. The key objective of such programs is to eliminate the risk of flu-like disorders.

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Trivalent and Quadrivalent vaccines are commercially available influenza vaccines. Among these, the quadrivalent vaccines are the most preferred type owing to their high efficacy and their ability to combat two influenza-B viruses and two influenza-A viruses. Leading companies are undertaking efforts to conduct research studies for quadrivalent product development. For instance, in November 2022, Pfizer Inc. and BioNTech SE announced the advancement of an mRNA-based combination vaccine candidate for COVID-19 and influenza to mitigate two life-threatening respiratory conditions.

Moreover, due to the emergence of new strains, scientists are devising a vaccination strategy that could prevent the flu virus with multiple strains and achieve long-lasting immunity in an individual. For instance, in March 2022, scientists from Monash University, Melbourne, and the National University of Singapore published research in the ‘Proceedings of the National Academy of Sciences’. This research featured a platform to efficiently offer vaccine candidate M2e to the immune cells to attain long-lasting immunity against different virus strains.

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Influenza Vaccine Market Segmentation

Grand View Research has segmented the global influenza vaccine market based on vaccine type, indication, age group, route of administration, distribution channel, and region:

Influenza Vaccine Type Outlook (Revenue, USD Million, 2018 - 2030)

Influenza Vaccine Indication Outlook (Revenue, USD Million, 2018 - 2030)

Influenza Vaccine Age Group Outlook (Revenue, USD Million, 2018 - 2030)

Influenza Vaccine Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

Influenza Vaccine Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

List of Key Players in the Influenza Vaccine Market

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 Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

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