Seasonal Influenza Vaccine Market - Forecast(2024 - 2030)

Seasonal Influenza Vaccine Market Overview:

Seasonal Influenza Vaccine Market Size is valued at $13.63 Billion by 2030, and is anticipated to grow at a CAGR of 9.5% during the forecast period 2024 -2030. The seasonal influenza vaccine market is driven by the need to mitigate the substantial health burden of influenza, characterized by its significant morbidity and mortality rates globally. The market's growth is propelled by government initiatives, increasing awareness, and advancements in vaccine technology. Companies are leveraging these trends to enhance their product portfolios, with a focus on increasing vaccine efficacy and reducing side effects. The market comprises various vaccine types, including trivalent and quadrivalent vaccines, catering to different population segments. The supply chain involves manufacturers, distributors, and healthcare providers, ensuring widespread vaccine availability. 

The COVID-19 pandemic has further underscored the importance of vaccination, leading to heightened demand and innovation in the flu vaccine market. The overlap between influenza and COVID-19 symptoms has spurred efforts to develop combined vaccines, aiming to streamline immunization processes and enhance public health outcomes.

Market Snapshot: 

Seasonal Influenza Vaccine Market - Report Coverage:

The “Seasonal Influenza Vaccine Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Seasonal Influenza Vaccine Market.

COVID-19 / Ukraine Crisis - Impact Analysis:  

• The COVID-19 pandemic has significantly impacted the seasonal influenza vaccine market, driving substantial changes in demand, production, and public health policies. The heightened awareness of respiratory illnesses and the importance of vaccination have led to increased uptake of flu vaccines as a preventive measure against potential coinfections. Governments and healthcare organizations have intensified their vaccination campaigns to mitigate the strain on healthcare systems already burdened by COVID-19. This surge in demand has necessitated scaling up production capabilities and improving supply chain logistics to ensure timely delivery and widespread availability of vaccines. Additionally, the pandemic has accelerated innovations in vaccine technology, with efforts to develop combined vaccines that target both COVID-19 and influenza. This integration aims to streamline immunization processes and enhance public health outcomes. Overall, the COVID-19 pandemic has underscored the critical role of vaccines in public health, driving a paradigm shift in how seasonal influenza vaccination is perceived and implemented globally.
• The Russo-Ukraine War has significantly impacted the seasonal influenza vaccine market by disrupting supply chains, diverting resources, and altering market dynamics. The conflict has led to logistical challenges in vaccine distribution, especially in affected regions, thereby reducing access to vaccines. Manufacturing facilities have faced interruptions, contributing to potential shortages and increased production costs. Furthermore, the reallocation of healthcare resources towards emergency medical needs and conflict-related healthcare services has shifted focus away from routine immunization programs. This diversion of attention has strained efforts to maintain high vaccination coverage rates, potentially leading to lower immunity levels against influenza. Additionally, geopolitical tensions have affected international collaborations and funding for vaccine research and distribution programs. The instability in the region has also influenced global markets, leading to increased prices and decreased availability of essential materials needed for vaccine production. Overall, the war has created a challenging environment for sustaining the influenza vaccine market, necessitating adaptive strategies to mitigate its impact and ensure continued public health protection.

Key Takeaways:

Growing Demand for Inactivated Influenza Vaccine

The demand for inactivated influenza vaccines is increasing due to enhanced standardization practices tailored to specific virus strains. These vaccines are formulated by growing virus strains in embryonated chicken eggs and purifying them through zonal centrifugation, ensuring high efficacy and safety. The meticulous standardization process, involving the development of new SRID reagents for each influenza strain, guarantees precise antigenic matching and effective immunization. A recent development of note is FLUCELVAX QUADRIVALENT, a cell-based influenza vaccine by Seqirus, which received FDA approval for use in children 6 months and older in June 2023, aimed at providing broader protection against multiple strains. Additionally, global health organizations have initiated campaigns to increase vaccination rates among high-risk groups, such as the elderly and healthcare workers, emphasizing the importance of timely immunization. The continuous evolution of influenza viruses necessitates ongoing research and adaptation, driving the market forward as manufacturers strive to keep pace with emerging strains.

Growing Demand for Quadrivalent Vaccines Owing to Increasing Efficacy

The rising demand for quadrivalent vaccines is driven by their demonstrated efficacy in preventing infections caused by multiple strains of viruses. Recent studies have confirmed the superior effectiveness of quadrivalent vaccines compared to trivalent ones, leading to higher adoption rates. For instance, in September 2023, Moderna's mRNA influenza vaccine, mRNA-1010, showed strong immune responses across all four strains. Such advancements underscore the enhanced protective benefits of quadrivalent vaccines, catering to a wider demographic and fostering public health initiatives. The World Health Organization's February 2024 recommendations on the viral composition for the upcoming influenza season further support the standardization of quadrivalent vaccines, reflecting their critical role in global immunization efforts.

Growing Demand for Seasonal Influenza Vaccine Due to Government Initiatives

The increasing demand for seasonal influenza vaccines is significantly driven by proactive government initiatives aimed at improving public health. Governments worldwide have amplified their efforts to promote vaccination through strategic policies and financial commitments. For instance, the World Health Organization (WHO) has set guidelines for the recommended composition of influenza vaccines for the upcoming seasons, ensuring vaccines are effective against prevalent strains. Additionally, governments have invested heavily in pandemic preparedness, with financial commitments reaching billions of dollars, reflecting their dedication to mitigating influenza impacts. These initiatives have bolstered public confidence and accessibility to vaccines, thereby driving higher vaccination rates. Studies also show targeted campaigns to healthcare workers and vulnerable populations, emphasizing the critical role of government-backed programs in enhancing vaccination uptake.

Negative Impact on the Seasonal Influenza Vaccine Market Due to Difficult Production Planning

The seasonal influenza vaccine market faces significant challenges due to complex production planning, which negatively impacts vaccine availability and efficacy. Production difficulties stem from the need to predict circulating virus strains months in advance, often resulting in mismatches and reduced vaccine effectiveness. Additionally, the reliance on traditional egg-based production methods introduces further complications, such as egg adaptations and antigenic drift, which diminish the vaccine's effectiveness. These production hurdles not only delay the supply chain but also erode public confidence in the vaccine's protective benefits, thereby impacting overall market growth and public health outcomes. Furthermore, repeated vaccination has been shown to have diminishing returns on effectiveness, adding another layer of complexity to production planning and market stability.

Key Market Players: 

Product launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Seasonal Influenza Vaccine Market. The top 10 companies in this industry are listed below:

1. GSK plc
2. Sanofi S.A.
3. AstraZeneca plc
4. CSL Limited
5. BIKEN Co., Ltd.
6. Abbott Laboratories
7. SINOVAC Biotech Ltd.
8. Viatris Inc.
9. Novartis Ag
10. Moderna, Inc.

Scope of the Report: 

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