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Swine Flu Vaccination Market Trends, Business Growth And Major Players And Forecast To 2033
Swine Flu Vaccination Market Trends
According to The Business Research Company's, The swine flu vaccination market size has grown strongly in recent years. It will grow from $13.01 billion in 2023 to $13.99 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to the increasing prevalence of flu, declining immunity among the geriatric population, increasing incidence of swine flu cases, government initiatives towards immunization programs, and advancements in vaccine production and distribution.
The swine flu vaccination market size is expected to see strong growth in the next few years. It will grow to $18.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growing demand for intramuscular vaccines, increasing awareness of new technologies in vaccination, increasing rate of elderly population, the need for vaccinations to protect the public's health, increased incidence of disease and episodes of pandemic worldwide from h1n1 infection. Major trends in the forecast period include technological advancement, business expansions, product launches, strategic mergers and acquisitions, and partnerships among pharmaceutical firms.
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Market Drivers and Trends:
The government initiatives toward vaccination programs are expected to propel the growth of the swine flu vaccination market going forward. Government initiatives toward vaccination programs refer to policies and actions undertaken by governments to promote and facilitate vaccination campaigns. The swine flu vaccination incentivizes governments to prioritize immunization programs by providing necessary vaccines and resources to combat outbreaks effectively, bolstering public health initiatives. For instance, in October 2021, according to reports published by the Centers for Disease Control and Prevention, a US-based national public health agency responsible for controlling the introduction and spread of infectious diseases, Flu vaccination rates increased significantly in the 2020-2021 season, with 50%-55% of adults receiving a vaccination, compared to 48% in the previous year. Also, the government has allocated 9.3 million doses of adult influenza vaccine to establish a stockpile in case of supply issues. Therefore, the increasing government initiatives toward vaccination programs are driving the growth of the swine flu vaccination market.
Major companies operating in the swine flu vaccination market are focused on developing innovative products such as the quadrivalent influenza vaccine, to strengthen their position in the market. A quadrivalent influenza vaccine is a type of flu vaccine designed to protect against four different influenza virus strains. For instance, in March 2024, Cadila Pharmaceuticals, an Indian-based pharmaceutical company, announced the launch of the cutting-edge quadrivalent influenza vaccine, Cadiflu Tetra, to prevent influenza. The Cadiflu Tetra Vaccine is a quadrivalent formulation targeting four influenza virus subtypes A and B strains. Its nano-sized particle technology mimics the virus's external structure, enhancing efficacy and safety without containing intact genetic material. This advanced approach improves protection against multiple influenza strains, offering a technologically superior solution for preventing seasonal epidemics.
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Major Key Players of the Market:
Pfizer Inc., Roche Holding AG, Merck & Co. Inc., Sanofi S.A., AstraZeneca Plc, Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Mylan N.V., Moderna Inc., Baxter International Inc., Zoetis Inc., Elanco Animal Health, Cipla Inc., Lupin Ltd., Virbac S.A, Sinovac Biotech Ltd., Serum Institute of India Private Limited., Vetoquinol S.A, Bharat Biotech International Limited, Medicago Inc., Panacea Biotec, Hipra
Swine Flu Vaccination Market 2024 Key Insights:
• The swine flu vaccination market size is expected to see strong growth in the next few years. It will grow to $18.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Government Immunization Initiatives Impact On The Growth Of Influenza Vaccinations
• Innovative Vaccine To Strengthen Position In Swine Flu Vaccination Market
• North America was the largest region in the Swine Flu Vaccination market in 2023
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The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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