Technological Advancements to Push the Global Influenza Vaccines Market to Reach $7070.90 Million by 2028

According to a Triton Market Research report on the global influenza vaccines market, the industry, which generated $4114.53 million in 2019, is likely to flourish at a CAGR of 6.20% by the year 2028.

A study by Triton Market Research with the title ‘Global Influenza Vaccines Market,’ covers the Global Analysis and Forecast for 2019-2028 by Technology (Egg-based, Cell-based), Age-Group (Pediatric, Adult Age), Type (Trivalent Vaccine, Quadrivalent Vaccine), Delivery Mode (Injection, Nasal Spray), and by Geographical Region (Europe, North America, Middle East and Africa, Asia-Pacific, Latin America).

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According to the report, the global influenza vaccines market is estimated to generate $7070.90 million by the year 2028, expanding with a CAGR of 6.20% during the projected period between 2019 and 2028. Influenza is a major contagious disease that causes year-round epidemics in tropical regions and seasonal epidemics in temperate regions. Influenza vaccines are used to minimize the possibility of harsh effects on public health.

The emergence of advanced technological developments like cell-based and recombinant vaccine technologies is driving the growth of the influenza vaccines market. Government initiatves towards creating awareness among people are also aiding the global market growth. However, the development of vaccines consists of several phases, including clinical, developmental and approval, which may take up to 15-20 years. The overall cost of this process may be very high. This factor is also responsible for restraining the growth of the global influenza vaccines market.

The influenza vaccines market is segmented as technology, age-group, type and delivery mode. The first segment, technology, is bifurcated into egg-based and cell-based. The second segment, age-group, includes pediatric and adult age. The third segment, type, bifurcates into trivalent vaccine quadrivalent vaccine. The last segment, delivery mode consists of injection and nasal spray.

As per the geographical landscape, North America is likely to be the largest influenza vaccines market during the forecasted period. The alarming increase in the cases of influenza in the United States and Canada is primarily instigating the demand for influenza vaccines, thereby aiding the regional market growth. Growing public awareness among the people regarding the vaccine is also favoring the market growth in North America.

Some of the major companies in the influenza vaccines market are Sanofi, BioDiem, GlaxoSmithKline Plc, Emergent Biosolutions Inc, Pfizer Inc, CSL Limited, F. Hoffmann-La Roche Ltd, Merck Sharp & Dohme Corp, Abbott and Novartis AG.

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Question & Answer: Influenza Vaccines Market

Question 1: Which factors are driving the growth of the influenza vaccines market?
Answer: The emergence of advanced technological developments like cell-based and recombinant vaccine technologies is driving the growth of the influenza vaccines market. Government initiatives towards creating awareness among people are also aiding the global market growth.

Question 2: What is responsible for restraining the growth of the global influenza vaccines market?
Answer: The development of vaccines consists of several phases, including clinical, developmental and approval, which may take up to 15- 20 years. The overall cost of this process may be very high. This factor is also responsible for restraining the growth of the global influenza vaccines market.

Question 3: How is North America impacting the influenza vaccines market outlook?
Answer: North America is likely to be the largest influenza vaccines market during the forecasted period. The alarming increase in the cases of influenza in the United States and Canada is primarily instigating the demand for influenza vaccines, thereby aiding the regional market growth. Growing public awareness among the people regarding the vaccine is also favoring the market growth in North America.

Question 4: Which are the major companies mentioned in the competitive landscape of the influenza vaccines market report?
Answer: Some of the major companies in the influenza vaccines market are Sanofi, BioDiem, GlaxoSmithKline Plc, Emergent Biosolutions Inc, Pfizer Inc, CSL Limited, F. Hoffmann-La Roche Ltd, Merck Sharp & Dohme Corp, Abbott and Novartis AG.

Related Report:
Global DNA Vaccines Market

The Global DNA Vaccines Market is likely to display growth at $37.384 billion by 2027, with a CAGR of 42.03% during the forecasted period 2019-2027.

Public-Private companies are increasingly making huge investments in DNA vaccine development. For instance, Bill Gates has funded a few scientific research programs that are involved in endorsing the expansion of vaccines throughout the world. Likewise, Inovio and the University of California San Francisco collaborated to test the company’s DNA-based vaccine in preventing HIV.

Chronic diseases in animals such as malarial parasites, influenza, rabies virus, hepatitis B virus, lymphocytic choriomeningitis virus and mycoplasmas, can be prevented by DNA vaccines. Also, it can induce hormonal and cellular immunity in animals. Since DNA vaccines are cost-effective as compared to other traditional vaccines, the increasing veterinary expenditure is likely to fuel the adoption of these vaccines in the animal healthcare industry.

There is an increasing prevalence of cancer, heart diseases, diabetes and stroke across the world. DNA vaccines are considered as a promising tool to fight against several infectious, autoimmunity and chronic diseases. They are safer than live attenuated vaccines. Hence, there is an increasing need for the development of new treatments and vaccines. These factors are estimated to push the demand for the DNA vaccines market, thereby proliferating the global market growth.

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This release was published on openPR.