Influenza Vaccine Market Size, Growth, Trends | Report 2022-2030

The global influenza vaccine market was estimated at USD 7.02 billion in 2021 and it is expected to surpass around USD 15.13 billion by 2030, poised to grow at a CAGR of 8.91% from 2022 to 2030.

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Influenza is a major global public health concern and according to WHO, affects around 100 million individuals annually, causing around 5 million cases of severe illness and around 600,000 deaths globally along with a huge economic burden. Vaccination is crucial to slow down the incidence and to lower the severity of pandemic situations caused by viral infections.

There was an inadvertent slowdown in vaccination drives across the globe due to the incidence of COVID-19 pandemic situation. Nevertheless, many countries launched joint vaccination drives against COVID-19 and seasonal influenza together. WHO recommends such joint vaccination drives due to better reach and other potential advantages. Many pharmaceutical giants expanded their collaborations made for the development of COVID-19 vaccines to include indications for respiratory and influenza viruses. For instance, in November 2022, Arcturus Therapeutics Holdings Inc. collaborates with CSL Seqirus for mRNA technology to support the development and production of vaccines for SARS-CoV-2 (COVID-19), influenza, and prevalent respiratory viral infections.

Scope of The Report

Quadrivalent vaccines essentially combat two Influenza-A viruses and two Influenza-B viruses, therefore they are most preferred for vaccination regimes. Companies are working significantly towards carrying out research studies that involve developing novel quadrivalent vaccines. For instance, in September 2022, Pfizer Inc. declared the start of its pivotal phase-3 clinical trial study for the evaluation of attributes like the safety and efficacy of its quadrivalent modified RNA (modRNA) candidate with over 25,000 healthy participants after achieving promising results from the first two phases.

Oral vaccines are preferred over vaccine injections because of the flexibility it offers for production, storage conditions, logistics, and administration. The oral forms of vaccinations may also potentially increase the rate of administration to the mass population. Research efforts are underway for devising novel oral vaccines that are equally efficient to injectable vaccines. For instance, in July 2019, Vaxart, Inc., collaborated with Janssen Vaccines B.V. for the evaluation of Vaxart’s oral vaccine platform with a potential candidate that is used in the form of a room temperature-stable tablet for Janssen’s universal influenza vaccination program.

Due to the emergence of virus strains, researchers are working towards devising a vaccination strategy that could combat multiple strains of the influenza virus and achieve long-lasting immunity in an individual. For instance, in March 2022, Researchers at the National University of Singapore and Monash University, Melbourne collaboratively published research in the ‘Proceedings of the National Academy of Sciences’ featuring a platform to effectively deliver vaccine candidate M2e to the immune cells so as to achieve long-lasting immunity against multiple strains of the virus.

Moreover, in May 2022, Osivax, signed a collaboration agreement with the National Institute of Allergy and Infectious Diseases (part of the NIH), to carry out a preclinical evaluation integrating Osivax’s T-cell-based influenza candidate, with a broad spectrum influenza vaccine candidates of the NIAID Research Center.

Measuring the vaccine’s potency and efficacy is crucial to gauge the immunity it offers against infection and is ascertained by the random administration of potential vaccine candidates to healthy volunteers through numerous clinical trials at different stages. For instance, in September 2022, the RAIVEN (Randomized Assessment of Influenza Vaccine Efficacy Network) was instated. RAIVEN is a collaborative effort between the Centre for Disease Control in the U.S. states for carrying out randomized trials.

Many countries across the globe are investing consistent efforts to achieve autonomy in vaccine production to rule out dependency on other countries for vaccine supply. Vaccines are most efficiently designed by research efforts by various research groups across research institutes and pharmaceutical giants. For instance, in May 2022, Blue Water Vaccines, Inc. partnered with the Center for R&D in Immunobiologics (CeRDI), Brazil for the development of a universal influenza vaccine candidate, so as to advance vaccine development based on novel adjuvant formulations and cell-cultures.

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Drivers and Restraints

Product Adoption to Rise with Increasing Government Support for Immunization

The global influenza vaccine market growth is being impelled by increasing government support and surveillance associated with influenza vaccination. The surveillance must be carried out on the global and national levels for monitoring the administration, distribution, and supply of influenza vaccines.

However, several countries have different labeling requirements coupled with stretched timelines. This adds to the complexity of the process of conducting clinical trials at the global level.

Key Market Trends

The Quadrivalent Segment is Expected to Hold a Major Share in the Market over the Forecast Period

The quadrivalent segment accounts for the maximum revenue in the influenza vaccine market due to its cost-effectiveness, efficacy against viral infections, and easy availability in hospitals and clinics. The product approvals for the quadrivalent type of vaccine are also expected to drive the growth of the market. for instance, in July 2022, the United States Food and Drug Administration approved the request of GlaxoSmithKline for the influenza vaccine, Fluarix, a quadrivalent vaccine.

The increasing preference for quadrivalent vaccines by healthcare professionals to treat influenza is expected to drive the growth of the market. For instance, in June 2022, a survey reported that physicians and pharmacists would tell CDC to recommend vaccines like Fluzone high-dose quadrivalent ( influenza vaccine) for people 65 and older.

Also, the increasing product launches are expected to drive the growth of the studied segment during the forecast period. In April 2021, Sanofi invested over EUR 600 million to build a new vaccine facility in Toronto to increase its supply of influenza vaccines in Canada, the United States, and Europe.

Hence, the aforementioned factors are likely to boost the market during the forecast period.

Key Players

• GlaxoSmithKline Plc
• Biodiem
• Sanofi
• AstraZeneca
• CSL Limited
• Emergent Biosolutions
• BIKEN Co, Ltd.
• F. Hoffmann-La Roche Ltd.
• Abbott Laboratories
• Merck & Co., Inc.
• Sinovac Biotech Ltd.
• Novartis Ag
• Viatris Inc.
• Pfizer Inc.

Market Segmentation

By Vaccine type

• Inactivated
• Live Attenuated

By Indication

• Quadrivalent
• Trivalent

By Age group

• Paediatric
• Adult

By Route of Administration

• Injection
• Nasal Spray

By Distribution channel

• Hospitals & Pharmacy
• Government & Institutional supply
• Other

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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