The U.S. influenza vaccines market, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus Type A and Influenza Virus Type B), and by Age Group (Pediatrics and Adults), is estimated to be valued at US$ 2.6 billion in 2019 and is expected to exhibit a CAGR of 16.1%, over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
The U.S. influenza vaccines market is expected to gain significant traction, owing to easy availability of different vaccines, which include adjuvanted inactivated vaccines, live-attenuated vaccines, seasonal influenza vaccines, and pandemic influenza vaccines. The transition from trivalent to quadrivalent vaccine formulations due to extensive research and development, to offer better protection against flu strains is a major factor which is expected to augment growth of the U.S. influenza vaccine market over the forecast period. For instance, in November 2019, Sanofi received the U.S. Food and Drug Administration (FDA) approval for a supplemental Biologics License Application for Fluzone High-Dose Quadrivalent (Influenza Vaccine) for use in adults 65 years of age and older. Earlier, in 2009, Fluzone High-Dose (Influenza Vaccine) was approved by the U.S. FDA. This approval has enabled the Sanofi to sell and distribute the quadrivalent influenza vaccines in the U.S. According to the company, the new vaccine will be available for immunization schedule/efforts during the 2020-2021 influenza season.
Innovative technologies to augment the influenza vaccine production and reduce shortage of vaccines are expected to propel the market growth.
Manufacturers are focusing on the development of vaccine by using innovative technologies such as adopting novel recombinant and cell-based vaccine production technologies to increase their supply capacity. For instance, Protein Science Corporation received the U.S. FDA approval for Flubok Trivalent Vaccine for use in the U.S. market in 2013. Flubok is the only influenza vaccine produced using recombinant technology, which offers advantages such as timely and fast vaccine production as the technology is not dependent on egg supply for vaccine production and is safe for individuals with egg-related allergies. Moreover, in 2016, Seqirus received the U.S. FDA approval for Flucelvax quadrivalent, indicated for people aged 4 years and above. Flucevax is a four strain, inactivated seasonal influenza vaccine, which is produced using cell culture technology at the Holly Springs Facility in the U.S. The vaccine was recommended by the World Health Organization and the Food and Drug Administration for the 2016 influenza season, in order to help protect against two influenza virus strains, which include A strains and B strains.
Browse 20 Market Data Tables and 15 Figures spread through 156 Pages and in-depth TOC on " U.S. Influenza Vaccines Market, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus Type A and Influenza Virus Type B), and by Age Group (Pediatrics and Adults), – U.S. Forecast to 2027"
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The increasing production capacity of vaccines by key players helps to address major problems such as vaccine shortage and inequitable access, thus minimizing the cost of vaccines. For instance, in 2015, bioCSL Limited and Novartis AG collaboratively developed Seqirus Company focused on robust vaccine production for pandemic preparedness and to contribute to the prevention and control of influenza, globally. Moreover, investments by the key players in influenza vaccines market, in order to develop new innovative technologies and to increase production capacity is expected to drive the market growth. For instance, in December 2019, the U.S. Department of Health and Human Services (HHS) announced that it has invested US$ 226 million, a six-year contract, to increase capacity to produce recombinant influenza vaccine in the U.S. The manufacturing of vaccines will be initiated through a public-private partnership between the Biomedical Advanced Research and Development Authority (BARDA), part of the HHS Office of the Assistant Secretary for Preparedness and Response (ASPR), and Sanofi Pasteur.
Moreover, constant improvements on formulation and production levels, by the key players for the development of influenza vaccines is expected to boost growth of the U.S. influenza vaccines market. For instance, according to the Centers for Disease Control and Prevention, in February 2020, for the 2019-2020 influenza season, it is estimated that, manufacturers will provide as many as 162 to 169 million doses of influenza vaccine for the U.S. market.
Key Takeaways of the U.S. Influenza Vaccines Market:
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