Influenza Vaccines Market

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Global Influenza Vaccines Market Is Estimated To
Witness High Growth Owing To Increasing
Vaccination Rates Rising Awareness The global
Influenza Vaccines Market is estimated to be
valued at US 5,965.9 Mn in 2022 and is expected
to exhibit a CAGR of 4.2 over the forecast
period 2022-2030, as highlighted in a new report
published by Coherent Market Insights. A)
Market Overview Influenza vaccines are designed
to protect individuals against influenza virus
infection. These vaccines stimulate a person's
immune system to produce antibodies that
specifically target the virus strains present in
the vaccine. Influenza vaccines can be
administered through injections or nasal spray,
depending on the type of vaccine. In recent
years, there has been a significant increase in
the vaccination rates for influenza, owing to
rising awareness among individuals about the
importance of flu vaccination. Governments and
healthcare organizations across the globe are
actively promoting flu vaccination campaigns,
further driving the growth of the influenza
vaccines market. The market also benefits from
technological advancements, such as the
development of quadrivalent and high-dose
vaccines, which offer improved protection against
multiple strains of the influenza virus. B)
Market Dynamics One of the major drivers of the
influenza vaccines market is the increasing
vaccination rates. The awareness about the
importance of flu vaccination has significantly
increased in recent years, with healthcare
professionals and governments actively promoting
flu vaccination campaigns. For instance, the
Centers for Disease Control and Prevention in
the United States recommend annual flu
vaccination for everyone above the age of six
months. This increasing demand for flu vaccines
is expected to drive market growth. Another
driver of the market is the technological
advancements in vaccine development. The
introduction of high-dose vaccines, which
contain four times the antigen of standard flu
vaccines, has been a significant development in
recent years. These vaccines provide better
protection, particularly for older adults who
have a weaker immune response to the flu virus.
The availability of different types of vaccines,
such as quadrivalent vaccines that protect
against four different flu strains, also
contributes to the market growth. C) Segment
Analysis The influenza vaccines market can be
segmented based on vaccine type, distribution
channel, and end user. Based on vaccine type,
the market is dominated by the trivalent segment,
which protects against three different flu
strains. The trivalent segment is expected to
continue its dominance due to its lower cost
compared to quadrivalent vaccines. In terms of
distribution channel, the hospital pharmacies
segment is expected to dominate the market, as
hospitals serve as major vaccination centers.
However, the online pharmacies segment is
expected to witness significant growth due to the
convenience and accessibility it offers to
consumers. D) PEST Analysis
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Political Governments across the globe are
actively promoting flu vaccination campaigns to
reduce the burden on healthcare systems and
prevent the spread of influenza. For example, the
U.S. government provides free flu vaccines for
individuals who meet certain criteria, such as
children from low-income families. Economic
The influenza vaccines market is expected to
witness steady growth due to the increasing
demand for flu vaccines. The market is also
driven by the investments made in research and
development by pharmaceutical companies to
develop new and improved vaccines. Social
Rising awareness among individuals about the
importance of flu vaccination, along with the
efforts of healthcare organizations to educate
the public, has resulted in increased vaccination
rates. This is contributing to the growth of the
market. Technological Technological
advancements in vaccine development have led to
the introduction of high- dose and quadrivalent
vaccines, which offer better protection against
multiple strains of the influenza virus. Key
Takeaways - The global influenza vaccines
market is expected to witness high growth,
exhibiting a CAGR of 4.2 over the forecast
period, due to increasing vaccination rates and
rising awareness. - North America is anticipated
to be the fastest-growing and dominating region
in the market, owing to the high adoption of flu
vaccination and government initiatives to promote
immunization. - Key players operating in the
global influenza vaccines market include Seqirus,
GlaxoSmithKline plc, Sanofi, AstraZeneca,
FluGen, Inc., Moderna, Inc., Biocryst
Pharmaceuticals, Inc., CPL Biologicals Pvt. Ltd.,
CureVac AG, OSIVAX, and Solaris Vaccines.