Global Influenza Vaccine Market: Size And Trends With Impact Of COVID-19 And Forecast Up To 2028

DELHI, India - Sept. 26, 2023 - PRLog -- The influenza vaccine, often referred to as the flu vaccine, is a critical tool in the field of preventive medicine aimed at reducing the spread and impact of influenza, a contagious respiratory illness caused by influenza viruses. One of the reasons leading to the rising demand for influenza vaccine in recent years is the increased awareness of the importance of vaccination in preventing contagious respiratory illnesses, especially in the wake of global pandemic like COVID-19, which has highlighted the significance of vaccination in public health. Seasonal influenza (flu) can lead to high hospitalization and mortality rates in high-risk populations, which results in significant healthcare burden globally. Thus, representing a need and large market opportunity for the influenza vaccine market. The global influenza vaccine market in 2022 stood at US$7.98 billion, and is likely to reach US$12.32 billion by 2028.

Globally, influenza infections lead to 3-5 million severe cases and 290- 650 thousand deaths annually. Some of the factors driving the rise in influenza vaccine demand include the increasing geriatric population, government support, rapid urbanization, rising prevalence of influenza epidemics and seasonal outbreaks, public health awareness, and robust research and development investments. Governments worldwide, in collaboration with international health organizations such as the World Health Organization (WHO), recognize the vital role of influenza vaccination in public health and disease prevention.

Global Influenza vaccine market is fragmented. Key players of global Influenza vaccine market are:

GlaxoSmithKline Plc
Abbott
Pfizer Inc.
AstraZeneca Plc
Sanofi S.A.
Moderna Inc.
CSL Limited
Emergent BioSolutions Inc.
BIKEN Co., Ltd.
Serum Institute of India Pvt. Ltd.
Sinovac
GC Biopharma

The key players are constantly investing in strategic initiatives, such as adoption of new technologies, introducing their services to emerging markets and more, to maintain a competitive edge in this market. For instance, on April 10, 2023, Sinovac Biotech Ltd. opened a state-of-the-art influenza vaccine production facility in Beijing, utilizing green production processes and adherence to Chinese Good Manufacturing Practice guidelines.

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