The size of the Middle-East & Africa Influenza Market is expected to be worth USD 1.60 billion by 2027 from USD 1.31 billion in 2022, growing at a CAGR of 4.097% during the forecast period.
The risk of severe influenza complications is higher in age groups such as older people, young children, and people with certain health conditions. Therefore, global health authorities prioritize getting vaccinated against influenza to avoid grave complications, over-burden the current healthcare system. For the past several years, seasonal influenza has been affecting many people, and hence the MEA influenza market is estimated to show significant growth during the forecast period. Furthermore, as the share of the senior population is high in many developed and developing MEA countries, the demand for influenza diagnostics, drugs, and vaccines may increase in the years to come. Moreover, many elderly patients have co-morbidities, making them feel vulnerable to highly-contagious strains of the influenza virus; hence without the necessary vaccine, the elderly have a poor prognosis.
The increased rate of population and growing healthcare needs in the MEA region will help expand the market. Big giants and organizations dealing in pharmaceuticals are continuously improving the effects of medications and vaccines against various viral infections. With the help of influenza vaccines, the local health authorities are taking steps for the well-being of the citizens by reducing the side effects. Additionally, the increasing product demand will boost the growth of the market. In 2019 there were 53% more vaccines taken from 48% in 2017 and 50% in 2018. The upwards trend in research and development with the high volume of clinical trials provides various growth opportunities for the market to grow. The increase in vaccination rate and launch of products will be responsible for helping the MEA influenza market in the years to come.
However, factors such as various influenza strains, limited production capacity, a high level of required investment, and strict regulations act as barriers to new entrants in the market. Influenza vaccines also pose a disadvantage where they need to be taken over an interval and are not recommended in pregnant women.
This research report on the Middle East and Africa influenza market has been segmented and sub-segmented into the following categories:
By Product Type:
By Disease Indications:
Geographically, the Kingdom of Saudi Arabia is contributing the maximum for the overall MEA influenza market, and it is likely to continue this growth in the forecasted period as well. Factors such as awareness of viral infection and its available therapies, large population, the government spending on valuable research, technological advancements, and the availability of new vaccines to limit the spread of influenza. All these factors are anticipated to drive the market between 2022-2027.
In 2020, the United Arab Emirates had the highest CAGR. This regional market growth can be attributed to more healthcare players. The government has taken several initiatives to spread awareness about viral infections and available vaccines, increased spending on R&D, and technological advancements. As a result, it was reported that in the Arab Emirates, the count had reached 360 or 2.57% of total deaths. The age-adjusted pneumonia death rate was 21.99 per 100,000 population.
However, due to unavailability or difficulty accessing treatment facilities, the African and some parts of middle-eastern regions will have the lowest growth rates. On the other hand, the South African region will experience good growth because of the developing healthcare infrastructure.
KEY MARKET PLAYERS:
Companies playing a notable role in the MEA Influenza Market 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), CSL Limited (Australia).
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