Influenza Vaccines Market
Global influenza vaccines market is estimated to be valued at USD 8.30 BN in 2024 and is expected to exhibit a CAGR of 7.1% during the forecast period (2024-2031). Influenza vaccines have been an important element of preventive healthcare for decades. The influenza viruses have the ability to mutate and evolve regularly, necessitating the development of updated vaccines each year. The vaccines work to boost the body's immune response to these changing viruses. They are designed to immunize against the three or four strains (depending on the vaccine type used for a particular flu season) that surveillance and other scientific studies have determined are most likely to be in circulation for the upcoming flu season in any given region. The global influenza vaccines market has witnessed steady growth over the past few years due to the growing awareness about seasonal vaccination, introduction of novel technologies, expansion of vaccination guidelines by healthcare organizations, and rising government support worldwide.
Market Dynamics:
The global influenza vaccines market growth is driven by various factors such as the increasing prevalence of influenza, growing adoption of vaccination guidelines set by international health organizations, rising awareness about vaccination, new product launches, growing preference for recombinant technology vaccines, and expansion in geographical reach of major players. However, the market growth can be challenging due to high R&D costs involved for development of quadrivalent influenza vaccines, stringent regulatory guidelines for approval of new vaccines and vaccine resistance arising due to antigenic drift of influenza virus strains. The market players see opportunities in emerging countries owing to improving healthcare infrastructure and rising disposable incomes. Manufacturers are also working on the development of universal influenza vaccine with durable protection against multiple flu strains.
Key Features of the Study:
Market Segmentation
Table of Contents
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