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H1N1 Vaccine Market 2024-2033: Industry Share, Size, and Growth Report
H1N1 Vaccine Global Market Report 2024
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According to The Business Research Company's, The h1n1 vaccine market size has grown strongly in recent years. It will grow from $3.16 billion in 2023 to $3.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to previous influenza outbreaks, global health security concerns, vaccine development and approval processes, global vaccination campaigns, public health education initiatives, government funding and subsidies, pharmaceutical industry agility.
The h1n1 vaccine market size is expected to see strong growth in the next few years. It will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to research on broad-spectrum vaccines, global vaccine equity initiatives, public health resilience building, global health governance strengthening, integration of h1n1 vaccination with routine immunization. Major trends in the forecast period include global pandemic preparedness, influenza vaccination programs, vaccine development advances, cross-protection research, global health initiatives, technological improvements in vaccine manufacturing, production capacity expansion, data monitoring and surveillance.
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Market Drivers and Trends:
An increase in international travel and tourism is expected to drive the H1N1 vaccine market going forward. International travel refers to the movement of individuals across national borders for various purposes, such as tourism, business, education, family visits, or diplomatic reasons. The H1N1 vaccine plays a crucial role in international travel by helping to mitigate the risk of the H1N1 influenza virus spreading across borders. Many countries and international organizations recommend or require travelers to be vaccinated against H1N1 and other influenza strains to protect public health. By getting vaccinated, travelers can reduce the risk of contracting and transmitting the virus during their journeys, promoting safer and healthier international travel experiences for both individuals and the global community. For instance, in May 2023, according to an article published by the United Nations World Tourism Organization, a Spain-based agency of the United Nations which promotes tourism, international tourism receipts grew to hit the $1 trillion mark in 2022. Tourism receipts grew at a rate of 50% in real terms compared to 2021, driven by the important rebound in international travel. International visitor spending reached 64% of pre-pandemic levels. Therefore, an increase in international travel and tourism is driving the H1N1 vaccine market.
Strategic collaborations between companies is a key trend that is gaining popularity in the H1N1 (swine flu) vaccination market. Companies in the H1N1 (swine flu) Vaccination market are focusing on strategic collaborations to expand their market share. For instance, in August 2022, A significant, a pharmaceutical company and Open Orphan affiliate hVIVO have agreed to an agreement for $123 million to create a brand-new batch of H1N1 influenza challenge virus. This has stimulated the growth potential of both companies in the industry.
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Major Key Players of the Market:
Sanofi SA, Novartis AG, GlaxoSmithKline plc, CSL Limited, AstraZeneca Inc., Zydus Lifesciences Limited, Merck and Co.Inc., Novavax Inc., Baxter Laboratories Inc., Panacea Biotec Ltd., Sinovac Biotech Ltd., Green Cross Corp., Abbott Laboratories, Pfizer Inc., Mitsubishi Tanabe Pharma Corporation, Seqirus Ltd., Cipla Inc., Protein Sciences Corporation, Hualan Biological Engineering Inc., Changsheng Bio-Technology Co. Ltd., Takeda Pharmaceutical Ltd., Bharat Biotech International Limited, Serum Institute of India Pvt. Ltd., Bio Farma Group, PT Kalbe Farma Tbk, Daiichi Sankyo Chemical Pharma Co. Ltd., Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Moderna Inc., CureVac NV, BioNTech SE, Inovio Pharmaceuticals Inc., Vaxart Inc., Altimmune Inc., Dynavax Technologies Corporation, VBI Vaccines Inc., GeoVax Labs Inc.
H1N1 Vaccine Market 2024 Key Insights:
• The h1n1 vaccine market size is expected to see strong growth in the next few years. It will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Rise In R&D Investments Drives The H1N1 Vaccine Market
• Strategic Alliances In The H1N1 (Swine Flu) Vaccination Market
• North America was the largest region in the H1N1 vaccine market in 2023
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