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How has the influenza vaccines market size evolved in recent years?

The market size for influenza vaccines has seen robust growth over the recent years. The growth will escalate from $7.35 billion in 2024 to $7.9 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The expansion in the previous period could be linked to pandemic readiness, initiatives in public health, studies on vaccine effectiveness, recommendations by healthcare professionals, and global surveillance of influenza.

What are the predictions for the influenza vaccines market size in the coming years?

The market for influenza vaccines is predicted to experience significant expansion in the coming years. It’s anticipated to reach $11.02 billion by 2029, with a compound annual growth rate (CAGR) of 8.7%. The projected growth during this period can be linked to several factors including climatic and environmental changes, improvements in healthcare accessibility, the development of new influenza strains, advancements in adjuvants and delivery systems, and increased healthcare spending. Key trends expected during the forecast period involve the broad application of mRNA vaccine technology, emphasis on pediatric immunization, strategies to control seasonal influenza, improved vaccination coverage in emerging economies, and personalized vaccination approaches.

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What key factors are fueling the growth of the influenza vaccines market?

The influenza vaccine market’s growth is likely to be boosted by an increase in cases of seasonal flu. Seasonal flu is a respiratory disease caused by viruses that usually spread and cause infections at certain times of the year, primarily during colder months. The frequency of these cases is due to various factors such as antigenic drift, vulnerability of the population, environmental factors, gaps in vaccine coverage and the absence of universal vaccination. Influenza vaccines help lessen the occurrence of seasonal flu by providing immunity against the prevalent strains of the virus. For instance, in November 2023, the US-based government agency, Centers for Disease Control and Prevention (CDC), noted that there were about 31 million flu-related illnesses, 14 million medical visits due to the flu, 360,000 hospitalizations from the flu, and 21,000 deaths caused by the flu during the 2022-2023 flu season. Accordingly, the upward trend in the number of influenza seasons has powered the growth of the influenza vaccine market.

How is the global influenza vaccines market divided into key segments?

The influenza vaccines market covered in this report is segmented –

1) By Vaccine Type: Inactivated, Live Attenuated

2) By Valency: Quadrivalent, Trivalent

3) By Route Of Administration: Injection, Nasal Spray

4) By Age Group: Pediatric, Adult

5) By Distribution Channel: Hospitals And Pharmacies, Government And Institutional Supply, Other Distribution Channels

Subsegments:

1) By Inactivated: Trivalent Inactivated Vaccines (TIV), Quadrivalent Inactivated Vaccines (QIV)

2) By Live Attenuated: Live Attenuated Influenza Vaccines (LAIV), Quadrivalent Live Attenuated Influenza Vaccines (QLAIV)

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Who are the key firms paving the way for growth in the influenza vaccines market?

Major companies operating in the influenza vaccines market include Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi-Aventis LLC., AstraZeneca PLC, GlaxoSmithKline plc., Serum Institute of India Private Limited, Takeda Pharmaceutical Company Limited, Moderna Inc., Viatris Inc., CSL Limited, Seqirus Inc., Daiichi Sankyo Company Limited, China National Pharmaceutical Group Corporation, Shanghai Fosun Pharmaceutical Group Co. Ltd., Mitsubishi Tanabe Pharma Corporation, Shionogi & Co. Ltd., Liaoning Cheng Da Biotechnology Co. Ltd., Novavax AB, Sinovac Biotech Co. Ltd., Green Cross Corporation, Emergent BioSolutions Inc., Walvax Biotechnology Co. Ltd., Hualan Biological Engineering Inc., Valneva SE, Bharat Biotech International Limited, Vaxess Technologies Inc., Osivax, Gamma Vaccines Pty. Ltd.

Which trends are expected to transform the influenza vaccines market?

The adoption of cutting-edge vaccine manufacturing technologies is an emerging trend within the influenza vaccine market. To maintain their market presence, companies within this sector are turning to these advanced technologies for vaccine production. For example, in January 2023, UK-based firm GlaxoSmithKline PLC., operating in biotechnology and pharmaceutical industries, unveiled MAPS, or Multiple Antigen Presenting System, for vaccine creation. This pioneering technique offers a novel approach for crafting potent vaccines to combat bacteria and viruses. The technology proves significantly helpful in expediting vaccine development during an epidemic or pandemic breakout.

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What regions are contributing significantly to the growth of the influenza vaccines market?

North America was the largest region in the influenza vaccines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the influenza vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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