The seasonal influenza vaccine market is expected to invite exponential growth on the back of the rising prevalence of influenza among a large chunk of the global populace. The increasing investment measures by varied firms and conglomerates coupled with the escalating role of the government bodies in conducting awareness campaigns will have a positive impact on the seasonal influenza vaccine market during the forecast period of 2018-2026.
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- Government and non-government bodies help in spreading awareness about the importance of vaccines among individuals. These awareness campaigns highlight the need for early vaccination to tackle seasonal influenza, eventually increasing the growth rate of the seasonal influenza vaccine market.
- Research and development activities play a prominent role in the growth of the seasonal influenza vaccine market. The players indulge in these activities to derive novel formulations that help increase the efficiency of the vaccine. These factors help in boosting the revenues, ultimately contributing to the growth opportunities attached to the seasonal influenza vaccine market.
- Strategic collaborations strengthen the growth foundation of the seasonal influenza vaccine market. The players indulge in mergers and acquisitions activities that help in cementing their foothold across the seasonal influenza vaccine market. Other collaboration types such as joint ventures and partnerships are also crucial for the seasonal influenza vaccine market.
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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. 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. 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.
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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.
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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