Global Influenza Vaccines Market worth USD 4.34 Billion in 2021

Global Influenza Vaccines Market worth USD 4.34 Billion in 2021

The report on “Influenza Vaccines Market by Vaccine Type (Quadrivalent, Trivalent), by Route of Administration (Intramuscular, Intravenous, Others), and by Geography – Global Forecasts to 2021”. The global influenza vaccines market has been estimated to be worth USD 4.65 Billion in 2016 and is projected to be valued at USD 8.81 Billion by the end of 2021, registering a CAGR of 13.6% during forecast period. Increasing pandemic outbreak, growing geriatric population, and rising affordability of flu vaccines in emerging economies are the key factors bolstering the growth of the influenza vaccines market.

Based on Vaccine Type, Quadrivalent Vaccines is projected to be the fastest growing segment

The specificity as well as the effectiveness of quadrivalent influenza vaccines and increasing consumer demand for quadrivalent flu vaccines are the key factors propelling the growth of quadrivalent flu vaccines market. Quadrivalent flu vaccines provides protection against four strains of influenza viruses. These include Quadrivalent flu shots which are used diverse age groups. Intradermal Quadrivalent flu shot and Quadrivalent flu shot are the two major types having virus grown in cell culture. The growing baby boomer population is also an important factor which will fuel the growth of the said market during the forecast period.

Based on Route of Administration, Intramuscular flu vaccines segment is estimated to hold the largest market share in the influenza vaccines market

The intramuscular flu vaccines segment is estimated to capture the largest share of the total influenza vaccines market due to the increased demand for these vaccines globally. There has been increasing participation of countries to get vaccinated intramuscularly to avoid side effects and complications associated with other routes of administration.

Asia-Pacific is expected to witness a substantial growth in the influenza vaccines market during the forecast period

The high demand for seasonal and pandemic influenza vaccines in Asia-Pacific countries (for example India, China, Japan, Australia etc.) primarily prompted during influenza A/H1N1 (swine flu) pandemic. Also, with the strong demand for domestic flu vaccines and the government’s stepped-up support, the development and production of flu vaccines is poised to be a new growth area for emerging countries drug makers, especially major companies with larger production capacity. The influenza vaccines market is expected to register further growth in the emerging economies such as India and China.

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