The Global Influenza Vaccines Market, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus A and Influenza Virus B), by Age Group (Pediatrics and Adults) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) estimated to be valued at US$ 3,991.4 billion in 2017, and is projected to exhibit a CAGR of 4.4% over the forecast period (2018 – 2026) as highlighted in a new report published by Coherent Market Insights.
Rising pipeline product to come up with new vaccine product as a part of key organic strategies by market players. For instance, 2017, Seqirus’s FLAUD, first and only adjuvant-based trivalent influenza vaccine, received MHRA approval against influenza virus in older aged people (adults aged 65 and above). In same year, Seqirus entered in the U.S market with its influenza vaccine portfolio, with over 50 million doses for protection against seasonal influenza of 2017-2018. The portfolio includes FLAUD, FLUCELVAX QUADRIVALENT, AFLURIA QUADRIVALENT, AFLURIA, and FLUVIRIN. Moreover, in 2017, FluGen, Inc., received US$ 14.4 million by Department of Defense for evaluating Universal Flu Vaccine, RedeeFlu, of Mismatched Strains. In Sep 2017, Novavax initiating phase1/2 clinical trials for nanoparticle seasonal influenza vaccine in older adults. In April 2018, BiodVax Pharmaceuticals LTD., started enrollment of patients for phase 2 clinical trials for universal flu vaccine candidate, M-001.
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Increasing prevalence of seasonal influenza in pediatric population is propelling demands for development of new vaccines. Influenza is estimated to infect 5% and 10% of adults and 20 to 30% of children. Moreover, companies are engaged in producing vaccines through innovative technologies such as egg-based, cell-based, and recombinant-based product for reducing the gap between demand and supply. Furthermore, increasing awareness and initiatives to increase the vaccine coverage is helping in market growth. The 2017 – 2018 recommendations guidelines by the Advisory Committee on Immunization Practices (ACIP) mentions routine annual influenza vaccination for everyone aged older than 6 months. However, high cost of vaccine development is expected to hinder growth of the market over the forecast period.
The significant growth of influenza vaccine market is expected to be attributed by rich pipeline product with novel approach by the major market players as well as the emerging market players. For instance, Mymetrics Corporation is evaluating influenza vaccine via intra nasal form of dosage to inhibit the virus at mucosal level by developing mucosal as well as blood antibodies. Moreover, companies are planning strategically to reduce the burden of vaccine development via partnering with other manufacturers. For instance, the influenza vaccine of Mymetics is been developed with Abbott Biologicals under the contract of out-licensing. Moreover, the governmental organization are continuously aiming to propel the study of universal influenza vaccine to reduce the epidemiology to influenza virus during the seasonal outbreaks. For instance, in 2018, the Human Vaccines Project, a nonprofit consortium of academic, government and industry medical researchers, is engaged in launching Universal Influenza Vaccine Initiative to accelerate the development of universal influenza vaccine.
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Key takeaways of the Influenza Vaccines Market:
The global influenza vaccines market is expected to expand at a CAGR of 4.4% during the forecast period (2018 – 2026), owing to increasing R&D activities of market players.
Trivalent vaccine is expected to dominate vaccine type segment, owing to more number of products
Influenza type A virus segment is expected to be predominant, owing to increasing prevalence of type A based infection
Pediatric being more susceptible to influenza virus is expected to lead age group segment
Some of the major players involved in global influenza vaccines market include Seqirus Vaccines Limited, GlaxoSmithKline plc
Read Press Release on Immuno Influenza Vaccines Market: https://www.coherentmarketinsights.com/press-release/global-influenza-vaccines-market-to-surpass-us-60-billion-by-2025-889
About Coherent Market Insights:
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