U.S. Influenza Vaccines Market– Prevention of Virus through Vaccination Aids in Reducing Burden of the Disease
Influenza is an infection caused by influenza virus and is commonly known as flu. Vaccination for influenza aids in prevention of flu. This vaccine is recommended for children aged 6 months and older. According to the World health Organization (WHO), 2017, Influenza virus is transmitted primarily by respiratory secretions or droplets of the infected person. It has an annual global attack rate of 5–10% in adults and 20–30% in children. Influenza vaccines are available with a wide range of options for different age groups i.e. children aged 6 months and above and adults aged 65 and above. According to the American Public Health Association, 2015, Influenza vaccines confer protection with 60–90% efficacy among the recipients, thus increasing the adoption rate of the vaccines.
The U.S. influenza vaccines market was valued at US$ 2.1 billion in 2016 and is expected to witness a CAGR of 15.9% over the forecast period (2017–2025).
Figure 1. U.S. Influenza Vaccines Market Share (%), by Vaccine Type, 2017 and 2025
Rising incidence of pandemic events and increasing awareness, leading to improved pandemic preparedness is expected to boost the market growth
Rising pandemic events is mainly attributed to genetic diversity of influenza viruses with varying patterns and severity. Risk of the onset of a novel pandemic strain has resulted in rise in research and development for production of efficacious influenza vaccines. Pandemic planning is expected to reduce transmission of pandemic virus, which can eventually decrease hospitalizations and deaths, thus minimizing the social and economic impact of pandemic events. According to the World Health Organization, in 2015, around 233 million outpatient visits, 5.2 million hospital admissions, and 7.4 million deaths are expected to manifest if a pandemic event were to occur, globally. Also, the Centers for Medicare & Medicaid Services (CMS) provides reimbursement covering 100% of the costs of one seasonal influenza virus vaccinations per influenza season, and it also covers additional seasonal influenza virus vaccinations. Thus, favorable reimbursement is a positive factor to increase adoption rates of influenza vaccines, thus propelling the market growth. However, shortage of vaccine supply due to genetic assortment of the viral strains is surging the need for updating vaccines each year by the manufacturers. This is a major factor restraining market growth.
Government initiatives to tackle such events is a major factor propelling growth of the U.S. influenza vaccine market
The government agencies in the U.S. are focusing on collaborations in order to increase the supply of influenza vaccines. For instance, the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), and the National Institutes of Health (NIH) have partnered with the U.S. Department of Health and Human Services Biomedical Advanced Research and Development Authority (BARDA) to support the advanced development of new and better influenza vaccines, as a part of inter-agency government effort in the U.S. Moreover, the recommendation from the Advisory Committee on Immunization Practices to receive influenza vaccine in order to reduce the substantial annual health burden of the disease, is expected to augment growth of the U.S. influenza vaccine market. Additionally, key players in the market are involved in strategic mergers and acquisitions to tackle the problem of vaccine shortage. For instance, in August 2017, Sanofi Pasteur acquired Protein Sciences Corporation, thus adding Flublok product to its portfolio — the only FDA approved recombinant protein-based influenza vaccine. With the acquisition, Sanofi expanded its influenza vaccine portfolio and its presence in the global respiratory vaccines market by exploring the non-egg-based manufacturing technologies.
The key players operating in the influenza vaccines market include Sanofi Pasteur, Seqirus Vaccines Ltd., GlaxoSmithKline Plc., and Medimmune.
Influenza commonly referred as flu is a contagious respiratory illness caused by influenza virus. The virus can cause mild to severe illness, resulting in serious outcomes such as hospitalization or death. Geriatric population, pregnant women, and people with chronic health conditions are at high risk of serious flu complications. Influenza virus is responsible for seasonal epidemic events and are classified into two types of influenza virus, including A and B. The influenza vaccines market is expected to gain significant traction as number of manufacturers are increasing the production capacity of vaccines for use in the U.S. market for the 2017–2018 influenza season using the innovative technologies such as egg-based, cell-based, and recombinant technologies.
The major factors driving growth of the U.S. influenza vaccines market include rapid advancements in technology for development of new vaccines such as recombinant and cell-based technologies, resulting in increasing production of the vaccines. Influenza flu vaccination have the potential to reduce the risk of flu-associated hospitalization among children and adults. According to the Centers for Disease Control and Prevention, 2015, flu vaccinations prevented an around 1.9 million flu illnesses, 966,000 flu-associated medical visits, and around 67,000 flu-associated hospitalizations, representing 6.5% lowering of disease burden in the U.S. Moreover, the collaborative efforts of various government bodies such as U.S. Department of Health and Human Services’ Biomedical Advanced Research and Development Authority (BARDA) with the private sector has led to development of improved influenza vaccine technologies in the U.S. This in turn, has improved influenza pandemic preparedness in the country. Also, National Institute of Allergy and Infectious Disease (NIAID) supports research efforts to improve seasonal flu vaccine strain selection and vaccine effectiveness. However, high cost of manufacturing and complexity of the production process due to inherent variability of the viral strains are the major factors hindering growth of the U.S. influenza vaccines market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 20 market data tables and 15 figures on "U.S. Influenza Vaccines Market - forecast to 2025”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.