Seattle, WA -- (SBWIRE) -- 10/02/2019 -- A contagious respiratory infection caused due to influenza virus is called influenza. There are several symptoms of the disease such as fever, cough, muscles and joint pain, headache, and severe weakness. The extent of respiratory infection can range from mild to severe and may often lead to death. According to World Health Organization (WHO), 2018, there are 3-5 million hospitalizations worldwide due to severe cases of influenza and around 290 000 to 650 000 cases of death due to influenza. Vaccination can help prevent from influenza infections. Influenza vaccine can be inactivated influenza vaccine, adjuvant inactivated influenza vaccine, live attenuated influenza vaccine or recombinant influenza vaccine. Increasing prevalence of influenza worldwide is leading to high development of efficient influenza vaccines. Robust product pipeline is a major factor boosting growth of the market during the forecast period.
Increasing seasonal outbreak of influenza virus is leading to high demand for vaccines that are effective against influenza. Moreover, key players in the market are focused on approval and launch of new influenza vaccines, which is expected to boost the market growth. For instance, Seqirus Vaccine Limited received the U.S. FDA approval for Afluria Quadrivalent in August 2016, for Afluria Trivalent and Flucelvax Quadrivalent in May 2016, and Fluad in November 2015. Furthermore, robust pipeline of influenza vaccines is also expected to propel the market growth. For instance, in May 2018, FluGen, Inc., a clinical stage vaccine developing company, started clinical trial for investigation of influenza vaccine, M2SR.
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Major government and private organizations around the world are focused on supporting influenza vaccine development, which is expected to boost the market growth. For instance, in April 2018, the Bill and Malinda Gates Foundation and Lucy and Larry Page announced US$ 12 million for researchers to come up with innovative ideas for safe, effective and affordable flu vaccines. Moreover, in May 2018, National Institute of Allergy and Infectious Disease (NIAID) sponsored trial of universal influenza vaccine. Moreover, increasing focus of various governments to enhance the vaccine supply is also contributing to growth of the influenza vaccines market.
The influenza virus constantly mutates, thereby developing new strains of the virus. Available influenza vaccines may be ineffective against such new strains. Therefore, constantly mutating influenza virus is a major factor hampering growth of the influenza vaccines market. Moreover, high costs associated with the development of influenza vaccine is also expected to restrict the market growth over the forecast period.
On the basis of region, the market is segmented into - North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the influenza vaccines market, owing to increasing R&D activities supported by governments and high prevalence of influenza infection. For instance, the U.S. National Institute of Allergy and Infectious Diseases (NIAID), a part of the National Institutes of Health (NIH), is sponsoring clinical trials of universal influenza vaccines conducted under the Investigational New Drug (IND) application of the U.S. FDA. The market in Asia Pacific is expected to witness the fastest growth during forecast period.
Key players in the market are focused on adopting merger and collaboration strategies. For instance, in 2015, BioCryst Pharmaceuticals entered into license agreement with Seqirus Vaccine Limited, under which Seqirus granted worldwide rights to BioCrysts flu Treatment. Moreover, in August 2017, Sanofi acquired Protein Science Corporation. The acquisition added Flubok, the only U.S. FDA approved recombinant protein based influenza vaccine to the Sanofi's product portfolio.
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Global Influenza Vaccine Market, By Vaccine Type:
Global Influenza Vaccine Market, By Virus Type:
Influenza Virus A
Influenza Virus B
Global Influenza Vaccine Market, By Age Group:
Key players operating in the influenza vaccines market include, Seqirus Vaccines Limited, GlaxoSmithKline plc, Sanofi, and MedImmmune LLC. Furthermore, companies having products in pipeline includes FluGen, Moderna Therapeutics, Novavax, and BioCryst.
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