Influenza Vaccines Market Insights – To Stop the Flu Is All Up to You
Influenza is a contagious respiratory infection caused due to influenza virus. Influenza is marked by fever, cough, muscles and joint pain, headache, and severe weakness. Illness due to influenza ranges from mild to severe, occasionally leading to death. According to World Health Organization (WHO), 2018, influenza cases related hospitalization ranges in 3-5 million cases for severe illness, whereas deaths related to influenza are about 290 000 to 650 000. Vaccines are recommended for the prevention of influenza infections. Influenza vaccine can be inactivated influenza vaccine, adjuvant inactivated influenza vaccine, live attenuated influenza vaccine or recombinant influenza vaccine. The rapid spread of influenza virus epidemics worldwide is propelling demands for development of efficient influenza vaccine. Strong product pipeline is the key factor driving growth of the market during the forecast period.
The global influenza vaccines market was valued to be US$ 3,991.4 million in 2017 and is expected to witness a CAGR of 4.4% over the forecast period (2018 – 2026).
Figure 1. Global Influenza Vaccines Market Share (%), By Vaccine Type
Increasing Product Approval for Influenza Vaccine is Propelling Growth of the Influenza Vaccines Market
Increasing seasonal outbreak of influenza virus is propelling demand for better vaccines. Increasing number of approved product is expected to augment growth of the influenza vaccines market. For instance, Seqirus Vaccine Limited, received FDA approval for Afluria Quadrivalent in August 2016, Afluria Trivalent, Flucelvax Quadrivalent in May 2016, and Fluad in November, 2015. Moreover, increasing strong pipeline candidates for influenza vaccine is also expected to boost the market growth. Furthermore, in May 2018, FluGen, Inc., a clinical stage vaccine developing company, started clinical trial for investigation of influenza vaccine, M2SR.
Increasing governmental initiatives to led new path for vaccine development is also expected to propel 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. Furthermore, governmental initiative for increasing the vaccine supply is propelling growth of the influenza vaccine market.
The constant mutation in genetic structure of influenza virus results in emergence of new virus, unaffected by currently available influenza vaccines. These continuously evolving virus is expected to be the major restrain for growth of the influenza vaccine market. Moreover, high cost of vaccine development is also expected to hinder market growth over the forecast period.
Asia Pacific market to exhibit fastest growth over the forecast period
Regionally, Alzheimer therapeutic market is segmented into six regions - North America, Latin America, Europe, Asia Pacific, Middle East, and Africa by Coherent Market Insights. North America holds dominant position in seasonal influenza vaccine market attributing to increasing R&D activities by market player in cooperation with government support to add novel product to their product portfolio and increasing burden of influenza infection. For instance, US National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). Conducted under an FDA Investigational New Drug (IND), are sponsoring clinical trials of universal influenza vaccine. However, Asia Pacific is expected to witness fastest growth during forecast period.
Inorganic strategies by the key players is fuelling growth of the influenza vaccine market
The key players involved in 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.
Strategic merger and collaboration by the market players is boosting growth of the
influenza vaccine market. For instance, in 2015, BioCryst Pharmaceuticals, entered into license agreement with Seqirus Vaccine Limited, under which Seqirus grants worldwide rights to BioCrysts flu Treatment. Moreover, in August 2017, Sanofi acquired Protein Science Corporation. The acquisition added Flubok, the only FDA approved recombinant protein based influenza vaccine to the Sanofi’s product portfolio.
Influenza, also called as flu or grippe is an acute viral infection of respiratory tract. The disease can be remarked by symptoms such as fevers, chills, and weakness coupled with soreness in head and abdomen. Influenza flu has prevention as well as treatments. Prevention includes vaccines for protection against influenza virus for upcoming seasons. Based on effectiveness of the vaccine against number of flu virus, the vaccines are classified as trivalent vaccine (three flu virus) or quadrivalent (four flu virus). Vaccine can be administered intramuscular, intranasal or intradermal. Increasing pipelines products, rising disease prevalence, and new entrant aiming to manufacture influenza vaccine by novel technology such as cell-based or recombinant based are the key factors driving growth of the influenza vaccine market.
The significant growth of influenza vaccine market is expected to be attributed by rich pipeline product with novel approach by the major market players as well as the emerging market players. For instance, Mymetrics Corporation is evaluating influenza vaccine via intra nasal form of dosage to inhibit the virus at mucosal level by developing mucosal as well as blood antibodies. Moreover, companies are planning strategically to reduce the burden of vaccine development via partnering with other manufacturers. For instance, the influenza vaccine of Mymetics is been developed with Abbott Biologicals under the contract of out-licensing. Moreover, the governmental organization are continuously aiming to propel the study of universal influenza vaccine to reduce the epidemiology to influenza virus during the seasonal outbreaks. For instance, in 2018, the Human Vaccines Project, a nonprofit consortium of academic, government and industry medical researchers, is engaged in launching Universal Influenza Vaccine Initiative to accelerate the development of universal influenza vaccine.
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