The "Influenza Vaccine Market: Analysis by Valency, Vaccine Type, Technology, Age Group, Route of Administration, Distribution Channel, and Region - Size, Trends and Forecasts to 2030" report has been added to ResearchAndMarkets.com's offering.

The global influenza vaccine market in 2024 stood at US8.96 billion, and is likely to reach US$13.32 billion by 2030. The market is expected to grow at a CAGR of approx. 7% during the forecasted period of 2025-2030.

The key players are constantly investing in strategic initiatives, such as adoption of new technologies, introducing their services to emerging markets and more, to maintain a competitive edge in this market. For instance, in June 2024, Sinovac announced a U$100 million investment in Brazil to establish local production of vaccines and monoclonal antibodies, and to advance cell therapy initiatives. While, Moderna's Phase 3 trial of its mRNA-1083 combination vaccine for influenza and COVID-19 met its primary endpoints, showing a stronger immune response than licensed comparators.

One of the reasons leading to the rising demand for influenza vaccine in recent years is the increased awareness of the importance of vaccination in preventing contagious respiratory illnesses, especially in the wake of global pandemic like COVID-19, which has highlighted the significance of vaccination in public health. Seasonal influenza (flu) can lead to high hospitalization and mortality rates in high-risk populations, which results in significant healthcare burden globally. Thus, representing a need and large market opportunity for the influenza vaccine market.

Globally, influenza infections lead to 3-5 million severe cases and 290-650 thousand deaths annually. Some of the factors driving the rise in influenza vaccine demand include the increasing geriatric population, government support, rapid urbanization, rising prevalence of influenza epidemics and seasonal outbreaks, public health awareness, and robust research and development investments. Governments worldwide, in collaboration with international health organizations such as the World Health Organization (WHO), recognize the vital role of influenza vaccination in public health and disease prevention.

As a result, they implement various strategies that foster market expansion. They may even subsidize vaccines or offer them free of charge through public health programs, making vaccination more accessible to the general population, leading to the growth of influenza vaccine market. In the coming years, these improvements are expected to significantly enhance healthcare service and stimulate demand for influenza vaccine.

North America influenza vaccine market held the highest market share in 2024, primarily owing to reasons such as increasing prevalence of influenza infection in the US & Canada, increasing public awareness campaigns and educational initiatives, government-sponsored vaccination programs, regulatory support, and the recognition of high-risk groups like the elderly and pregnant women, the region's robust healthcare infrastructure, insurance coverage, and emphasis on patient-centered care. The US is the North America's strongest market for influenza vaccine because of its focus on technological advances in vaccine production, and increasing healthcare expenditure.

Asia Pacific influenza vaccine market is expected to experience fastest growth due to a burgeoning and diverse population, government initiatives and increasing healthcare awareness. Also, the region's vulnerability to seasonal outbreaks, coupled with the memory of past influenza pandemics and COVID pandemic, highlights the importance of vaccination. Furthermore, the availability of health insurance coverage and the growth of international travel further is expected to drive vaccine demand. China holds the largest share in Asia Pacific region owing the growing elderly population, region's vulnerability to seasonal influenza outbreaks and emergence of new flu, nation's expanding healthcare infrastructure, a burgeoning pharmaceutical industry, research and development initiatives, domestic vaccine production and introduction of artificial intelligence in healthcare industry.

Market Segmentation Analysis:

By Valency: According to the report, the global influenza vaccine market is segmented into two segments based on the valency: Quadrivalent and Trivalent.

Quadrivalent segment acquired majority of share in the market in 2024 and is the fastest growing segment as well, as it provides protection against four influenza virus strains (two influenza A strains and two influenza B strains). The demand for quadrivalent vaccines has increased in recent years, driven by factors such as public health recommendations and growing awareness of the seriousness of influenza.

By Vaccine Type: According to the report, the global influenza vaccine market is bifurcated into two types: Inactivated and Live Attenuated.

Inactivated segment acquired majority of share in the market in 2024 and is the fastest growing segment as well, as it is made of killed influenza viruses or parts of the viruses and is administrated through injection. The convenience of injection as an administration method and the availability of multiple manufacturers contribute to their widespread use. Furthermore, their well-established safety and effectiveness, public awareness campaigns and pandemic preparedness initiatives are collectively contributing to the growth of inactivated segment in the influenza vaccine market.

By Technology: According to the report, the global influenza vaccine market is bifurcated into two technologies: Egg-based and Cell-based.

Egg-based segment acquired majority of share in the market in 2024, due to its long-established infrastructure, proven safety and efficacy, and large-scale production capabilities. Although, cell-based technology is the fastest growing segment as cell culture-based flu vaccine production does not require chicken eggs and has the potential for a faster start-up of the flu vaccine manufacturing process. Even, on August 31, 2016, FDA issued an approval for Seqirus, the sole FDA-approved cell culture-based flu vaccine manufacturer in the United States, to begin using cell culture-grown CVVs.

By Age Group: According to the report, the global influenza vaccine market is bifurcated into two age group: Adults and Pediatrics.

Adult segment acquired majority of share in the market in 2024 as the adult population represents a substantial portion of the overall demographic in most regions and adults are more likely to fall into high-risk influenza complications. Furthermore, Adults in the workforce are also crucial targets, not only for their health but also for maintaining economic productivity, prompting employers to encourage vaccination. These factors collectively contribute to adult influenza vaccines maintaining a major market share among age groups in the influenza vaccine market.

While, the pediatric segment is expected to register the fastest growing rate during the forecasted period as there is increasing number of influenza virus cases among children and parents are becoming more aware. Even, many countries are implementing school-based influenza vaccination programs to target this age group and reduce influenza transmission in educational settings, leading to growth of this segment.

By Route of Administration: According to the report, the global influenza vaccine market is bifurcated into two routes of administration: Injection and Nasal spray.

Injection segment acquired majority of share in the market in 2024 and is the fastest growing segment as well, due to its versatility, proven safety, and broad recommendations. Injections are suitable for diverse populations, spanning infants to seniors and individuals with various health conditions, making them a universal choice. Additionally, injection-based vaccines are widely available and accepted, contributing to their predominant market position and potential for continued growth in the coming years.

By Distribution Channel: According to the report, the global influenza vaccine market is bifurcated into three distribution channels: Hospitals and Pharmacies, Government and Institutions and others.

Hospitals and pharmacies hold a major share in the influenza vaccine market in 2024 due to its convenience, and trusted healthcare environments. They serve as go-to locations for receiving influenza vaccines during routine healthcare visits. With their staff of trained healthcare professionals, including nurses and pharmacists, these institutions ensure safe and effective vaccine administration, fostering confidence among vaccine recipients. While, government and institutions are the fastest growing segment during forecasted period due to the ongoing vaccination and immunization programs and the inclusion of influenza vaccines in vaccination programs around the world. For instance, in June 2024, the government of New Zealand expanded access to free-of-cost flu vaccines for children and people with mental health issues.

Market Dynamics

Growth Drivers

• Increasing Flu Burden Among Adult Population
• Rapid Urbanization
• Rising Prevalence of Influenza Epidemics And Seasonal Outbreaks
• Increased Public Health Awareness
• Increasing Government Support
• Robust Research and Development Investments

Challenges

• Longer Timeline for Vaccine Production
• High cost of Vaccine Development
• Inequitable Access to Vaccines

Market Trends

• Use of AI in Vaccine Development
• Technological Advancements in Vaccine Administration
• Shift in Trends towards mRNA-based Flu Vaccine

Competitive Landscape

• Global Influenza Vaccine Players by Market Share
• Global Influenza Vaccine Market Players by Vaccines Efficiency and Safety
• Global mRNA Influenza Vaccine Market Players by Vaccines in Clinical Development

Company Profiles: Business Overview, Sales by Products, Business Strategies

• GlaxoSmithKline Plc
• Abbott
• Pfizer Inc.
• AstraZeneca Plc
• Sanofi S.A.
• Moderna Inc.
• CSL Limited
• Emergent BioSolutions Inc.
• BIKEN Co., Ltd.
• Serum Institute of India Pvt. Ltd.
• Sinovac
• GC Biopharma

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