Flu Vaccine Market Share 2020-2025 | Global Industry Report
As per trusted estimates, global flu vaccine market will record substantial growth during 2020-2025. Increasing government initiatives to ensure the safety of the populace, minimal side-effects associated with influenza vaccines, improving efficacy of existing vaccines, and launch of new vaccines are driving the growth of flu vaccine market. Flu or influenza is a highly transmissible disease, spreading through coughs and sneezes of the infected person. High prevalence of influenza, in tandem with growing concerns regarding health implications and potential death is urging the development of new flu vaccines across the globe.
Rising funds and investments by various organizations such as Bill and Melinda Gates Foundation, CDC, and WHO GISRS (Global Influenza Surveillance & Response System), for R&D of vaccines will foster the market growth over the forecast timeline. Increasing implementation of routine immunization programs in both developed and developing countries will also favor the expansion of business landscape in the coming years.
However, longer production time and high costs associated with the development of these vaccines may hinder the growth of global flu vaccine market. Variable demand, limited production capacity, and strict regulatory framework are the other challenges impacting the industry outlook.
Based on the type, quadrivalent influenza vaccine segment is expected to grow considerably in the forthcoming years, owing to their cost-effectiveness and growing availability in hospitals. These vaccines ensure protection against four viral strains including H1N1, H3N2, Yamagata, and Victoria. High safety and immunogenicity of quadrivalent vaccines, along with potentiality of new vaccines in pipeline are other rationales supporting the segment growth.
Speaking of the application spectrum, the demand for flu vaccines for children aged between 6 months to 3 years is escalating, owing to growing cases of influenza among infants especially in low-income and middle-income countries. Children are at higher risk as compared to adults and can develop severe complications such as pneumonia, dehydration, brain dysfunction, sinus problems, ear infections, and other long-term ailments such as heart disease and asthma. However, vaccines are not approved for children younger than 6 months old, even though they are at the highest risk. Caretakers ensure vaccination once the child reaches the prescribed age, hence bolstering the demand for flu vaccines.
Considering the geographical landscape, global flu vaccine market is divided into U.S., Canada, Mexico, UK, Germany, Russia, France, Italy, India, China, Korea, Australia, Japan, Southeast Asia, Brazil, Argentina, Saudi Arabia, Turkey, Egypt, and South Africa.
North America is anticipated to account for a significant share of flu vaccine market by the year 2025, with U.S at the forefront. According to CDC (Center for Disease Control and Prevention), it is estimated that in the U.S., 36,000 deaths occur annually due to influenza complications. It also states that hospitalization of children who are 4 years old or younger is currently at an all-time high with 80.1 per 100,000 children. These facts are instigating healthcare organizations to continually develop new vaccines and take proactive measures to reduce the death toll. Increasing influenza-associated death toll in tandem with rising awareness and growing focus towards immunization programs are supporting the regional market growth.
Major players of flu vaccine market include Changsheng Biological, Hualan Bio, SANOFI, SINOVAC, CCBIO, Aleph Biomedical, ZYAK, GSK, Adimmune, Aimei Hissen, SIOBP, Simcere Vaxtec, and Tianyuan Bio-pharma (Novartis).