Global Influenza Vaccines Market
The global influenza vaccines market size is expected to surpass USD 6 billion by 2025.
The global influenza vaccines market size is expected to surpass USD 6 billion by 2025. Influenza is also referred to as flu, the disease is a type of respiratory illness which is highly contagious and caused by virus. During influenza organs such as lungs, throat and nose are infected. The affect of influenza may vary from person-to-person. If left untreated, it may prove fatal.
Asia Pacific (APAC) has emerged as an emerging market for influenza vaccines in recent years. Growth of the economy, rising healthcare expenditure, and increased healthcare penetration are some of the factors linked with the growth of the market in APAC. Governments in various APAC countries are making efforts to improve the standard of healthcare, which is reflecting favourably on the influenza vaccines market in the region. Demand for such vaccines is expected to remain high in the region due to presence of a massive patient pool. The region is viewed as a major pharmaceutical market of the world. Over the years, the large number of foreign pharmaceutical companies have entered the APAC market. The influenza vaccines market has been covered across United States, Germany, Italy, United Kingdom, Sweden, Poland, Finland, Belgium, New Zealand, Brazil, India, Canada, France, Spain, Netherlands, Denmark, Norway, Ireland, Australia, Japan, and China.
Increased level of awareness is driving the global demand for influenza vaccines. The prevalence rate is relatively higher in developing countries; however, increased government efforts and awareness campaigns have led to an increased vaccine penetration. At the same time, the arrival of quadrivalent vaccines has been a steppingstone towards eradicating influenza virus. Despite such efforts, there are some critical issues which are yet to be effectively addressed. Some of the issues include limited production capacity, high cost of vaccine production, and unfavourable regulatory frameworks.
Common influenza vaccines offer protection from three lethal flu viruses (trivalent), which include one B virus, an influenza A H3N2 virus and influenza A H1N1 virus. Meanwhile, the more recent quadrivalent vaccines offer protection from an extended form of type B virus, which is not covered by the previous trivalent vaccines.
Influenza vaccines have high penetration in advanced countries such the U.S. the U.K and Germany. This is mainly owing to the presence of a high level of awareness in these countries. Moreover, government backing and presence of favourable policies are other factors supporting the market growth in advanced countries.
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