Influenza Vaccine Market Size to Surpass USD 14.35 Billion by 2030, exhibiting a CAGR of 8.8%

According to a recent study conducted by Fortune Business Insights, the estimated value of the global market for Influenza Vaccines is expected to reach a staggering USD 14.35 billion by 2030. This growth is anticipated to transpire at a compound annual growth rate (CAGR) of 8.8% between the years 2023 and 2030.

Pune, India, August 7, 2023 (GLOBE NEWSWIRE) -- The worldwide market for flu vaccines was valued at $7.47 billion in 2022. It is projected to increase from $7.97 billion in 2023 to $14.35 billion by 2030, with a compound annual growth rate (CAGR) of 8.8% during the study period. This growth can be attributed to the increasing occurrence of epidemics and seasonal outbreaks. Another contributing factor to the expansion of the industry is the growing need for efficient vaccines.

Fortune Business Insights™ delivers this data in its investigative document, titled "Influenza Immunization Market, 2023-2030".

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In August 2021, AstraZeneca made a public statement regarding the introduction of the FluMist Quadrivalent vaccine in the United States. The inclusion of this vaccine for the upcoming influenza season in 2021-2022 alleviated the strain on the healthcare system within the country.

The increasing need for flu vaccines is expected to propel the market forward.

In the year 2022, the revenue generated by North America amounted to an impressive sum of 4 billion US dollars.

The market segment is anticipated to achieve a greater compound annual growth rate (CAGR) throughout the projected timeframe.

The rising need for vaccines for children is driving the growth of the market.

Explore the Prominent Individuals Highlighted in the Documentation:

The top players in the worldwide Influenza Vaccine Market include GlaxoSmithKline plc (United Kingdom), Sanofi (France), AstraZeneca (United Kingdom), CSL Limited (Australia), BIKEN Co., Ltd. (Japan), Abbott (United States), SINOVAC (China), and Viatris Inc. (United States).

The Scope and Segmentation of the Report

Projected Growth Rate for the Period 2023 to 2030 CAGR

The size of the market in 2023

Based on Category, Capacity, Age Range, Marketing Channel, and Geographic Area

Check out the detailed report at: https://www.fortunebusinessinsights.com/industry-reports/influenza-vaccine-market-101896.

Inactive portion experiencing significant growth due to rising efficiency.

The market is divided into two types: live attenuated and inactivated. The inactivated category had a significant share in the market. This category is expected to experience substantial growth during the research period due to an increasing demand for vaccines in both developed and developing nations.

The driving force behind the rise of the quadrivalent segment is the growing effectiveness.

Based on the number of electrons, the market for flu shots is divided into three-valent and four-valent. The four-valent category had a significant portion of the market in 2022 and is predicted to experience substantial expansion in the foreseeable future. This increase can be attributed to the growing effectiveness of these vaccines.

The field of pediatric medicine is projected to experience a significant compound annual growth rate (CAGR), driven by the alarming prevalence of infections among children.

The market is divided into two groups, adults and children, based on age. The children's segment is expected to experience significant growth over the predicted time frame. This increase can be attributed to the increased number of vaccination doses administered to babies, newborns, and kids.

The section of the blog discussing the impact of increased immunization on the growth of hospital and retail pharmacies is expected to show a significant increase.

Categorizing the market by means of distribution channels, we can distinguish between government suppliers, hospital & retail pharmacies, and other contributors. Out of these, it was the hospital & retail pharmacies sector that achieved the greatest monetary returns in the year 2022. This surge can be attributed to the increasing inclination towards getting vaccinated at smaller establishments.

The influenza vaccine market has been examined in different regions including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa, taking into account their geographical location.

Medical Facilities and Pharmacies in Commercial Settings

Fast Purchase - Research Report on the Influenza Vaccine Market: https://www.fortunebusinessinsights.com/compare-plan/101896

Increase in Market Share due to Beneficial Government Policies

The progress of the influenza vaccine market is driven by the rising acceptance of the product and increasing assistance from government authorities. The growth is also stimulated by the expanding implementation of influenza immunization initiatives.

Nevertheless, the extended timeframe of clinical trials and the consequences of stringent regulatory demands might impede the growth of the industry in the foreseeable future.

North America set to take the lead, driven by the swift introduction of successful products.

The market for influenza vaccines in North America is expected to experience substantial growth in the coming years. In 2022, this region dominated the market with the largest market share. This growth can be attributed to the introduction of highly efficient products.

The market in the Asia Pacific region is expected to grow at a faster rate during the research period. This growth is being driven by increased efforts from governments to prioritize the production of vaccines.

Prominent Corporations Take Bold Measures to Enhance Market Position

Major players in the industry are focused on implementing different strategies to widen the scope of their products. Some of these measures include forming alliances through mergers, acquiring other companies, and introducing fresh solutions to the market. Further actions also involve intensifying research efforts and actively participating in trade conferences.

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What is the size of the market for flu vaccines?

The market for influenza vaccines had a value of $7.47 billion in 2022 and is anticipated to grow to $14.35 billion by 2030.

What is the rate of growth of the influenza vaccine market?

The Influenza Vaccine Market is expected to grow at a compound annual growth rate (CAGR) of 8.8% from 2023 to 2030.

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The market size and industry share of drugs and vaccines for children, along with revenue estimates and future projections.

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