Global Influenza Vaccines Market, Persons Vaccinated, Impact of COVID-19, Company Analysis, Size, Share, Growth, Trends, Major Deals - Forecast to 2027
The global influenza vaccines market is projected to exceed US$ 9.5 Billion mark by 2027, and is presenting ample opportunities to the industry’s players. Influenza viruses are considered as a major cause of morbidity and mortality worldwide. The vast population base together with significantly low vaccination coverage in emerging markets, introduction of new vaccines, rising government support for immunization and growing awareness of the value of influenza vaccine in preventing disease are the prominent factors that will drive the influenza vaccines market. However, shortage of vaccine supply due to genetic assortment of the viral strains is surging the need for updating vaccines each year by the manufacturers. This is a major factor restraining market growth.
Impact of COVID19 on Global Influenza Vaccines Market
The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID-19 disease has infected more than 188,085,671 people worldwide (as of July 13, 2021). Globally the death toll has surpassed 4,055,949, according to the latest statistics from the Worldometers (as of July 13, 2021). The number is still growing, and the duration of the pandemic is still difficult to predict. Because of the on-going COVID-19 pandemic, getting a flu vaccine will be more important than ever. Flu vaccines will not prevent COVID-19, but they will reduce the burden of flu illnesses, hospitalizations and deaths on the health care system and conserve scarce medical resources for the care of people with COVID-19. Thus, the demand for influenza vaccines is anticipated to increase during the forecast timeframe.
Regional Analysis - Influenza Vaccines Market and Forecast
- Geographically, North America is the largest market for influenza vaccines capturing over 52% market share in 2020.
- Asia is the second largest market for influenza vaccines.
- Europe is the third largest market for influenza vaccines, followed by Latin America.
- Australasia accounted for least share of the influenza vaccines market in 2020.
Country Analysis - Influenza Vaccines Market and Forecast
- On the basis of country, United States captures majority of the influenza vaccines market.
- Japan is the second largest market for influenza vaccines.
- China, Brazil, Canada and India are the third, fourth, fifth, and sixth leading market for influenza vaccines respectively.
- Germany, Mexico, Italy, South Korea, UK, France, Spain and Australia are the other leading market for influenza vaccines.
Company Analysis - Global Influenza Vaccines Market
- In 2020, GlaxoSmithKline plc influenza vaccines (Fluarix/FluLaval) sales were up 35% from previous year.
- In May 2016, the cell-based Flucelvax quadrivalent shot was approved by the FDA.
- For the 2020-21 flu season, AstraZeneca has increased production of vaccine doses by more than 150% over the previous season.
- In February 2021, GlaxoSmithKline plc and Vir Biotechnology, Inc., signed a binding agreement to expand their existing collaboration to include the research and development of new therapies for influenza and other respiratory viruses.
- In March 2021, Sanofi announced an investment of more than €600 Million in a new vaccine manufacturing facility at its existing site in Toronto, Canada.
- In November 2020, Seqirus announced it plans to construct a new world-class biotech manufacturing facility in Australia to supply influenza vaccines to Australia and the rest of the world.
iGATE Research report titled “Global Influenza Vaccines Market, Persons Vaccinated, Impact of COVID-19, Company Analysis, Size, Share, Growth, Trends, Major Deals - Forecast to 2027” provides a comprehensive assessment of the fast-evolving, high-growth influenza vaccines market landscape.
This 322 Page report with 149 Figures and 13 Tables has been analyzed from 8 viewpoints:
1. Influenza Vaccines Market, Persons Vaccinated and Forecast (2011 – 2027)
2. Impact of COVID-19 on Global Influenza Vaccines Market
3. By Region - Influenza Vaccines Market, Persons Vaccinated and Forecast (2011 – 2027)
4. Country Wise Distribution - Influenza Vaccines Market, Persons Vaccinated and Forecast (2011 - 2027)
5. Influenza Vaccines Market – Key Company Analysis
6. Influenza Vaccines Market – Emerging Players Profile
7. Global Influenza Vaccines Market - Major Deals
8. Global Influenza Vaccines Market - Driving Factors and Challenges
Influenza Vaccines Market, Persons Vaccinated and Forecast - By Region
1. North America
2. Latin America
Influenza Vaccines Market, Persons Vaccinated and Forecast - Country Wise Distribution (29 Countries Covered)
1. United States
9. United Kingdom
20. New Zealand
24. South Korea
26. Hong Kong
Influenza Vaccines Market – Key Company Analysis
1. GlaxoSmithKline (GSK)
2. Sanofi Pasteur
3. Seqirus (CSL Limited)
6. Gamma Vaccines Pty Ltd.
7. Hualan Biological Engineering Inc.
8. Mylan (Now Part of Viatris)
10. Shanghai Institute of Biological Products Co., Ltd.
Influenza Vaccines Market – Emerging Players Profile
3. Moderna Inc
10. Versatope Therapeutics, Inc.
11. BiondVax Pharmaceuticals Ltd.
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases