Visiongain Publishes Influenza Vaccines Market Report 2020-2030
30 September 2020
Visiongain has published a new report on Influenza Vaccines Market Report 2020-2030: Forecasts by Vaccine Type (Quadrivalent, Trivalent), by End-users (Hospitals, Specialty Clinics, Other End-Users), by Country, by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and Profiles of Leading Influenza Vaccines Companies PLUS EXCLUSIVE COVID-19 Recovery Scenarios.
The global influenza vaccines market size was valued at US$ xx million in 2019 and is anticipated to reach US$ xx million in 2025 while growing at a CAGR of xx% during the first half of the forecast period i.e. 2020 to 2025. The global market size is further projected to reach US$ xx million by 2030 at a CAGR of xx% from 2025 to 2030. The overall CAGR for the global influenza vaccine market is expected to be xx% from 2020 to 2030.
COVID-19 Impact on Influenza Vaccines Market
The COVID-19 pandemic has now affected more than 200 countries worldwide. Manufacturers have been pressured to increase production capacity and increase the supply of products and other commodities. UNICEF, WHO, PAHO, and other regular immunization programs have been halted by the pandemic. By making the population more susceptible to deadly antigens, the suspension and decrease in immunization campaigns caused a significant amount of damage to medical systems. The outcome is that there is a higher mortality rate. This would have far worse implications than the pandemic itself. GAVI reports that the cease-fire will mean that it will not immunize around 13.5 million people from the least developed countries.
Pediatric Influenza Vaccines – High Demand Markets
The other spectrum of the influenza vaccine market consists of the pediatric influenza vaccines, covering children of age groups 0 to 18 years. The pediatric influenza vaccines make up the second-largest share of this vaccine industry by contributing to 30% of the total market share.
Influenza has been proven to be dangerous for children causing an average of 20,000 children under the age of 5 years to be hospitalized due to influenza complications, some of these cases result in death. Over 90% of deaths due to influenza occur in patients that have not been vaccinated again influenza. Thus, the pediatrics segment of the influenza vaccine market is of great importance because the children between the age groups of 6 months to 5 years are in their development stages and require vaccines to stay protected against the annual flu. Statistics about adolescents being infected by influenza are high, along with its extensive advertising of influenza vaccine programs, the number of cases for children to get vaccinated is increasing. Furthermore, the parents are becoming more cautious due to the increase in the outbreak of the recent infectious diseases which is also a driver to get vaccinated. For many people getting vaccinated can be a stressful event even for adults, the company that can produce a successful needleless QIV will dominate the market.
While in Europe the birth rates are at a decline, the African continent compensates for such losses with extremely high fertility rates. The comparison can be observed with the fertility rate of Angola at 5.98, against the mere fertility rate in Austria of 1.44. The nine highest birth rates in the world are all from African countries. For the influenza market, however, this provides geographical expansion. Further, this implies that the growing population of infants will require influenza vaccines, which will contribute towards the growth of the market.
Rising Demand from Emerging Economies
For the companies operating in the global influenza vaccines market, there is an immense opportunity from emerging economies across the globe. In the emerging economies, the government is taking steps to educate the general public regarding the pros of vaccination. Along with the government, several companies are also organizing immunization activities to educate people across rural regions. Over the forecast period, the global influenza vaccines market is projected to offer lucrative revenue generation avenues from the developing and low- & middle-income regions.
In addition to the demand arising from the aging population and rising birth rates, the economic growth across the emerging markets is another major factor that is driving demand for influenza vaccines. The characteristics of an emerging nation lean towards the accumulation of newly generated wealth which is then accompanied by a desire for higher standards of living including improved healthcare. With steady economic growth amongst these developing nations, a sizeable middle class has emerged with increased purchasing power allowing for more expenditure on better healthcare which includes access to vaccinations.
Some of the companies profiled in the report include Biodiem, CSL Limited, Emergent BioSolutions, AstraZeneca, Merck & Co., Inc., Novartis AG, Sanofi, F. Hoffmann-La Roche Ltd., Sinovac Biotech Ltd., Mitsubishi Tanabe Pharma Corporation, and Takeda Pharmaceutical Company Limited. In June 2020: The European Commission gave regulatory approval for the first adjuvanted quadrivalent influenza vaccine to become available across Europe. This new vaccine builds on the well-established technology used in an existing adjuvanted trivalent influenza vaccine (aTIV) available in several European countries.
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