The global influenza market size is expected to reach USD 11.49 billion by 2026 from USD 7.63 billion in 2021, growing at a CAGR of 8.54% during the forecast period.
Influenza is a flu or viral infection which affects the respiratory system. The person affected by influenza may suffer from usual symptoms such as headaches, fever, fatigue, cough, muscle aches, congestion, and running nose. There are four types of influenza viruses: type A, B, C, and D. These viruses travel through the respiratory system and transmit through direct contact or by taking virus-infected air particles. Influenza can be ideally prevented by vaccination.
increased focus of governments to provide better medical solutions for the people, enhancement of existing vaccines, low risk of side effects associated with influenza vaccines are some of the significant factors that boost the growth of the global influenza market.
The other factors that boost the influenza market's growth are increased funding for research and development activities, the emergence of novel vaccines, and the increased prevalence of medical tourism.
The influenza market is expected to provide lucrative growth opportunities for the key players in the market, owing to the increased account of immunization programs at regular intervals. The availability of various influenza vaccines that have been prequalified by the world health organization and bought by united Nations agencies has provided many opportunities for the growth of the global influenza market. It is expected to continue the trend during the forecast period. Many influenza vaccines for treating the influenza A virus in animals are under the development phase, and trials are supposed to be launched over time. In addition, influenza vaccines are being modified specially for seasons to tackle the virus strains, which alter each season; these factors push the significant market players to develop new vaccines at regular intervals to milk the global influenza market opportunities.
The key factors that challenge the growth of the global influenza market are the time required for the production of the vaccine and the manufacturing costs associated with very high development.
Impact of COVID-19 on the global influenza market:
The COVID-19 epidemic has had a huge impact on countries worldwide, putting a financial strain on the population. The World Health Organization (WHO) declared the coronavirus epidemic a public health emergency in January 2020. Influenza is a viral infection of the respiratory system that causes fever, body aches, runny nose, cough, congestion, headaches, and exhaustion in those that are infected. Influenza, also known as the flu, is a contagious disease caused by a bacterial infection. It is very infectious and spreads mostly by respiratory droplets. The increased emphasis on research activities to produce a vaccine to contain the widespread impact of the novel coronavirus is boosting global demand for immunization. The pandemic of COVID-19 has caused unprecedented changes in the healthcare sector. In the near term, the industry is expected to benefit from increased demand for seasonal influenza vaccines to ensure improved safety against the deadly pandemic. As a result, improved R&D leading to the production of a new COVID-19 vaccine is expected to boost the sales potential of the market.
Market Size Available
2020 to 2026
2021 to 2026
By Product Type, Consumer, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Sanofi-Pasteur (U.S.), AstraZeneca (United Kingdom), F. Hoffmann-La Roche (Switzerland), Novartis (Switzerland), GlaxoSmithKline (U.K.), Pfizer Inc. (U.S.), Merck & Co. (U.S.), Abbott Laboratories (U.S.), Mitsubishi Tanabe Pharma Corporation (Japan) and CSL Limited (Australia)
This research report on the global influenza market has been segmented and sub-segmented based on product type, consumer, and region.
Influenza Market - By Product Type:
Based on product type, the Vaccines segment holds a significant market share during the forecast period. The market is expected to grow due to the rising demand for seasonal influenza vaccination to guarantee greater protection against the deadly pandemic. In addition, global healthcare organizations such as the Centers for Disease Control and Prevention (CDC) have suggested baloxavir marboxil (Xofluza) vaccines to treat the symptoms in patients due to their significant health consequences.
Influenza Market - By Consumer:
Based on the consumers, the children segment had a larger market size in 2020. This dominance is due to greater vaccine doses given to neonates, babies, and children to protect them against influenza illness from an early age. The high prevalence of influenza infection and its frequency among young children has prompted a variety of methods. In addition, according to the CDC, flu-related hospitalizations among children have boosted the need for childhood vaccinations in the newborn age group.
Adult vaccination is now required to reduce the number of hospitalizations and fatalities caused by influenza. Due to the government's increased vaccination efforts and high vaccine dosage procurement by GAVI, PAHO, and UNICEF, adult vaccines have a substantial market share in this market.
Influenza Market - By Region:
Geographically, North America is leading the global influenza vaccine market by contributing the largest share of revenues and is expected to continue the trend owing to the factors such as the increased focus of governments on immunization programs, improvements in vaccine administration, increased incidence of influenza in the region, and the influx of new vaccines. North America is expected to dominate the global influenza market during the forecast period. This dominance can be due to the fact that certain companies are concentrating more on manufacturing innovative influenza vaccines for therapeutic purposes in countries such as the United States. Factors such as rising influenza prevalence and the number of influenza screening tests conducted in this area propel the North American market forward throughout the forecast period. The rapid development of efficient influenza vaccines and the broad use of technologically advanced vaccine production processes are expected to drive regional market growth. In addition, growing influenza incidence and high vaccine sales are expected to drive market growth in North America.
Europe ranked second in the market and is projected to see substantial growth due to the expansion of vaccine coverage for high-risk populations, resulting in greater immunization rates among the European population. Additionally, product launches in the area are expected to boost adoption rates.
Because of improvements in healthcare facilities, increased disposable money, and rapid economic growth, LAMEA is anticipated to become a profitable market for influenza vaccinations.
LAMEA is another major contributor to the global market and is expected to grow rapidly during the forecast period due to factors like an increase in disposable income, advancements in healthcare facilities, and escalated growth of economies.
KEY MARKET PLAYERS:
Some of the promising companies leading the global influenza market profiled in this report are Sanofi-Pasteur (U.S.), AstraZeneca (United Kingdom), F. Hoffmann-La Roche (Switzerland), Novartis (Switzerland), GlaxoSmithKline (U.K.), Pfizer Inc. (U.S.), Merck & Co. (U.S.), Abbott Laboratories (U.S.), Mitsubishi Tanabe Pharma Corporation (Japan) and CSL Limited (Australia).
RECENT MARKET DEVELOPMENTS:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2.2 Safety Biomarkers
5.2.3 Efficacy Biomarkers
5.2.4 Validation Biomarkers
5.2.5 Y-o-Y Growth Analysis, By Type
5.2.6 Market Attractiveness Analysis, By Type
5.2.7 Market Share Analysis, By Type
5.3.2 Diagnostics Development
5.3.3 Drug Discovery and Development
5.3.4 Personalised Medicine
5.3.5 Disease Risk Assessment
5.3.6 Other Applications
5.3.7 Y-o-Y Growth Analysis, By Application
5.3.8 Market Attractiveness Analysis, By Application
5.3.9 Market Share Analysis, By Application
5.4 Disease Indications
5.4.4 Neurological Disorders
5.4.5 Immunological Disorders
5.4.6 Other Diseases
5.4.7 Y-o-Y Growth Analysis, By Disease Indications
5.4.8 Market Attractiveness Analysis, By Disease Indications
5.4.9 Market Share Analysis, By Disease Indications
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
184.108.40.206 By Type
220.127.116.11 By Application
18.104.22.168 By Indication
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Type
184.108.40.206 By Application
220.127.116.11 By Indication
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product
126.96.36.199 By Type
188.8.131.52 By Application
184.108.40.206 By Indication
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.3 F. Hoffmann-La Roche
8.6 Pfizer Inc.
8.7 Merck & Co.
8.8 Abbott Laboratories
8.9 Mitsubishi Tanabe Pharma Corporation
8.10 CSL Limited
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures