Global Flu Vaccine Market Report, Ongoing Trends, Growth Factors, Negative Factors, Opportunities, Untapped Markets, Strategies and Developments, Product Segments, and Forecast 2020 – 2029
“Global Flu Vaccine Market Trends, Vaccine Types, Applications, Insights, and Growth Forecast 2020 – 2029” – a recently created report by MarketResearch.biz, provides in-depth insights, growth rate, and revenue details, and other important information related to the target market. In addition, the dynamics section includes opportunity map analysis, value chain analysis, PEST analysis, and Porter’s Five Forces analysis. The report presents revenues of the market on the basis of the segments and region along with key countries. Profiles for top international companies are presented in the report with their revenue, company segment revenue, and other financial details. Also, contact information, regional presence, market footprint, company share analysis has been provided. In 2020, the target market is estimated to be valued at US$ X Mn and is projected to reach a value of US$ X Mn in 2029. The global flu vaccine market is segmented into vaccine type, end-use application, and region/ country.
Flu Vaccine: Overview
Influenza is an infection caused due to the virus of influenza in human. Influenza is a type of contagious respiratory infection as it infects the respiratory track, that is; nose, throat, and lungs of the human beings. Severe weakness, fever, runny nose, cough, muscle pain, and headache are some of the common indications of influenza. According to the World Health Organization (WHO), in 2018, owing to influenza infection, over 3–5 Mn individuals were hospitalized for severe illness, whereas over 0.2 Mn deaths occurred due to influenza. IN addition, according to the CDC report 2019, around 91 deaths of children is because of flu, so far. The previous 3 flu-seasons recorded 95, 110, and 185 deaths of pediatric due to flu over the entire season, respectively. Flu vaccines are commonly known as flu jabs or flu shots which are used for prevention and protection against the virus of influenza. Flu vaccination also helps to reduce sickness, hospital visits, and mortality rate.
Dynamics: Global Flu Vaccine Market
The global flu vaccine market is expected to register a significant CAGR over the forecast period owing to the increasing pandemic of influenza resulted in rising demand for flu vaccination worldwide. The increasing government initiatives and involvement for influenza awareness and vaccination through various programs and campaigns is a key factor anticipated to bolster demand for flu vaccines and is estimated to drive growth of the global market. Increasing research and development activities and ongoing clinical trials to develop advanced and upgraded flu vaccines along with strong product pipeline by major companies in the market are some of the other factors projected to propel growth of the global market over the long run.
However, shortage of vaccine supplies due to genetic assortment process of the viral strain which leads to the need for vaccine upgradation is a major factor may hamper growth of the target market over the forecast period. The lack of awareness about flu vaccination in some developing countries and non-developed countries may also restrain growth of the global market to a certain extent.
Segment Analysis: Global Flu Vaccine Market
Vaccine Type Segment Insights: The whole virus vaccines segment accounted for a major share in terms of value in the global market and is projected to maintain its dominance over the forecast period. The live attenuated virus vaccines segment is estimated to register a lucrative growth rate in the global market over the forecast period owing to increasing adoption of advanced vaccines for prevention purposes.
Application Segment Insights: The adults and children over 3 years’ segment is estimated to contribute the highest share in terms of value in the target market due to increasing incidences of flu viruses among adults and children over 3 years of age at a global level.
Regional Analysis: Global Flu Vaccine Market
The North America market is estimated to lead in the global flu vaccines market in terms of value and is projected to maintain its position over the 10-year forecast period. This is due to increasing initiatives by the government such as health programs for spreading awareness regarding influenza, its effects, and flu vaccination in countries in the region. Highly developed medical infrastructure and presence of favorable reimbursement policies in countries such as the US and Canada are additional factors projected to augment market growth in countries in the region.
The Europe market is anticipated to follow North America market in terms of revenue contribution in the target market. This is due to rising prevalence of influenza in the countries in Europe, established healthcare sector, increasing investments by the government and private players in development of advanced flu vaccines and reduce global burden of the disease and mortality rate in countries in the region.
The Asia Pacific flu vaccine market is projected to register the highest growth rate in the global market over the 10-year forecast period, due to increasing awareness about flu vaccination and government initiatives for free flu vaccinations in certain rural and urban areas in countries in the region. Increasing patient pool for flu in various developing and poorly developed countries is also expected to support growth of the market in the region. As per the WHO report, research study estimates that around 99% of deaths due to influenza registered every year in children under 5 years of age are recorded in developing countries.
The Latin America and MEA markets are anticipated to record moderately high revenue shares in the market due to poorly developed healthcare infrastructure in certain countries in these two regions, however increasing focus of private players to penetrate in the untapped markets is projected to result in higher revenue shares from these regions in the years to come.
Global Flu Vaccine Market Segmentation
Segmentation by Type:
- Whole Virus Vaccines
- Split Virus Vaccines
- Subunit Vaccines
- Live Attenuated Virus Vaccines
Segmentation by Application:
- For Children (6 months to 3 years)
- For Adults and Children over 3 years
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- CSL Limited
- GlaxoSmithKline Plc
- Novartis International AG
- Sanofi Pasteur (Sanofi S.A.)
- Mylan N.V.
- Protein Sciences Corporation
- AstraZeneca plc
- Pfizer Inc.
- Johnson & Johnson
- Seqirus Vaccines Limited
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