According to FutureWise analysis the market for Influenza Vaccine in 2023 is US$ 7.79 billion, and is expected to reach US$ 13.44 billion by 2031 at a CAGR of 7.05%.
The viral infection that affects the respiratory system as a result of the illness is known as influenza. Respiratory droplets are the primary method of influenza virus transmission. Additionally, it can be spread verbally or physically through contact. Numerous regional epidemics and outbreaks caused by the influenza virus have killed thousands of people. Due to the influenza virus's changing properties, an annual adjustment of the vaccine strain is required to match the influenza virus strain. Healthcare organisations throughout the world, including the Centers for Disease Control and Prevention (CDC), have recommended vaccines like baloxavir marboxil (Xofluza) for the treatment of influenza. These vaccines can help patients with their flu symptoms. Three different influenza viruses are utilised in the flu vaccines: influenza type A with the H3N2 virus strain, influenza type A with the H1N1 virus strain, and influenza type B virus strain. The forecast period is likely to see increased product sales due to an increase in the frequency of influenza epidemics and seasonal outbreaks. One of the key drivers propelling the market's expansion is the expansion of government support and oversight of influenza vaccination on the local, national, and international levels to track the supply, distribution, and administration of flu vaccines. Additionally, the introduction of therapeutically effective vaccinations has been made possible by rising government funding as well as increased investment from top market players around the world, which is fueling the expansion of the influenza vaccine market. The urgent need for an effective influenza vaccine is being driven by the swift global spread of influenza virus epidemics. The main driver fueling the market's expansion throughout the projection period is a strong product pipeline.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Influenza Vaccine Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Influenza Vaccine Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.