Influenza Vaccine Market Leading Player 2023-29

The global influenza vaccine market size was valued at USD 7.32 billion in 2022 and is poised to grow at a significant CAGR of 6.5% during the forecast period 2023-2029. Some trends in the global influenza vaccine market include increasing demand for improved vaccine effectiveness and coverage, advancements in vaccine technologies and formulations, growing emphasis on high-risk populations such as the elderly and individuals with chronic illnesses, adoption of cell-based and recombinant vaccine production methods, and advancements in vaccine delivery methods. These trends reflect the ongoing efforts to enhance the prevention and control of influenza infections and provide better protection against evolving influenza strains.

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The global influenza vaccine market segmentation:
1) By Vaccine Type: Quadrivalent and Trivalent.
2) By Technology: Egg-based, and Cell culture.
3) By Age Group: Pediatric, and Adult.
4) By Route of Administration: Injection, and Nasal Spray.

Quadrivalent and Trivalent Segment Dominate the Influenza Vaccine Market:
In the global influenza vaccine market, the Quadrivalent and Trivalent segments are expected offer lucrative opportunities. Quadrivalent vaccines protect against four different influenza virus strains, including two influenza A strains and two influenza B strains. They provide broader coverage against circulating influenza viruses and are increasingly favored by healthcare providers and individuals seeking comprehensive protection. Trivalent vaccines, on the other hand, protect against three influenza virus strains, including two influenza A strains and one influenza B strain. While they offer effective protection, the Quadrivalent vaccines are considered more advantageous due to their additional coverage against the two influenza B strains. Overall, the Quadrivalent segment is anticipated to experience higher demand and growth in the global influenza vaccine market due to its enhanced coverage and effectiveness against multiple influenza strains.

Asia Pacific Leads the Global Influenza Vaccine Market:
Asia Pacific, the Influenza Vaccine market holds a market share of 41% in 2022 and the market is expected to grow at a significant CAGR during the forecast period. The Asia Pacific region has been experiencing rapid growth in healthcare infrastructure, including the expansion of hospitals, clinics, and vaccination centers. This improved infrastructure enables better distribution and administration of influenza vaccines. Additionally, the region is witnessing advancements in cold chain logistics, ensuring the proper storage and transportation of vaccines. The strengthening healthcare infrastructure in the Asia Pacific supports the efficient delivery of influenza vaccines, contributing to market growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Influenza Vaccine market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region., In March 2023, The World Health Organization (WHO) launched a new initiative to increase the availability and affordability of influenza vaccines in low- and middle-income countries. The initiative, called the Global Influenza Vaccine Alliance (GAVI), will provide financial assistance to countries to purchase influenza vaccines and support the development of new and improved influenza vaccine technologies.

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Key players' profiles in the influenza vaccine market report are AstraZeneca Plc (AstraZeneca), Biodiem, Csl Limited (Seqirus GmbH), Emergent Biosolutions, F. Hoffmann-La Roche Ltd., Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc, Merck & Co., Inc. (Merck Sharp & Dohme Corp.), Novartis Ag, Pfizer, Inc., Sanofi, Sinovac Biotech Ltd.

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This release was published on openPR.