Global Seasonal Influenza Vaccine Market: Overview
Seasonal influenza is a respiratory tract infection that is caused by seasonal influenza viruses. It is a contagious infection and can be transmitted through direct contact with the patient or some form of indirect contact. It is mainly caused by seasonal influenza viruses such as influenza A virus, influenza B virus, and influenza C virus. Influenza C virus infections are mild and very rare.
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The symptoms of seasonal influenza include sudden onset of fever, joint pain, headache, and sore throat. Diagnostic tests for seasonal influenza include reverse transcription polymerase chain reaction (RT-PCR), enzyme-linked immunoassay, immunofluorescence, and virus culture. The most effective way to prevent seasonal influenza is vaccination.
Global Seasonal Influenza Vaccine Market: Trends and Opportunities
Rise in the prevalence of influenza globally, increase in awareness about influenza, improved health care infrastructure, increased R&D spending, seasonal outbreak of pandemics, technological advancements, increased investment by major players for the development of vaccines, rich product pipeline, an increase in government initiatives are the major drivers of the global seasonal influenza vaccine market. However, a stringent regulatory framework acts as a major restraint of the global market.
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Global Seasonal Influenza Vaccine Market: Segmentation
The global seasonal influenza vaccine market can be segmented based on the vaccine, virus, age group, distribution channel, and region. In terms of the vaccine, the global market can be classified into quadrivalent, trivalent, and high-dose. The quadrivalent segment dominated the market in 2017, and the trend is projected to continue during the forecast period. Expansion of the segment is attributed to the fact that quadrivalent vaccines are suitable for the age group of two and above. Based on the virus, the global seasonal influenza vaccine market can be classified into type A (H1N1), type A (H3N2), and type B.
The type A (H1N1) segment dominated the market in 2017 and is expected to continue its dominance during the forecast period. This is due to the fact that only type A viruses can cause an epidemic. For instance, type A (H1N1) virus caused a pandemic in 2009. In terms of age group, the market can be divided into pediatrics and adults. The pediatrics segment dominated the market in 2017 due to the high prevalence and incidence rate of influenza among children. The segment is likely to maintain its market share during the forecast period.
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Based on the distribution channel, the global seasonal influenza vaccine market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market, due to a high preference for this channel of distribution. The segment is projected to maintain its leadership position from 2018 to 2026.
Global Seasonal Influenza Vaccine Market: Regional Analysis
In terms of region, the global seasonal influenza vaccine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global seasonal influenza vaccine market in 2017, It is projected to constitute a significant market share during the forecast period. The market in the region is anticipated to expand at a rapid pace due to improved health care infrastructure, high awareness regarding influenza viruses, and increased R&D spending in the region.
According to WHO estimates, annual epidemics of seasonal influenza result in approximately 3 to 5 million cases of severe illness and 2,90,000 to 6,50,000 deaths due to respiratory failure. The market in the Asia Pacific is anticipated to expand at a high CAGR in the next few years, due to a rise in awareness regarding influenza and improvement in health care infrastructure in developing countries.
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Global Seasonal Influenza Vaccine Market: Companies Mentioned
Major players operating in the global seasonal influenza vaccine market include GlaxoSmithKline plc, Sanofi, Sinovac Biotech Ltd., Abbott, Novartis AG, Changsheng Bio-Technology Co., Ltd., Folia Biotech Inc., and hissen.com.
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