The global influenza vaccine market size was estimated to be USD 8.45 billion in 2023 and is expected to reach at USD 19.56 billion by 2034 with a CAGR of 7.93% during the forecast period 2024-2034. Growing prevalence of seasonal influenza, rising recommendations for vaccination against the disease, increase in government support & surveillance for influenza vaccination at the national & international levels to track the supply, administration, & distribution of the vaccine, surge in government initiatives to support influenza vaccination, WHO continuously tracks vaccine demand & runs global immunization programs in collaboration with other governmental organizations to manage the unmet need for immunization, growing investments in research by leading vaccine manufacturers, and rising research & clinical trial activities for the development of novel vaccines are the primary drivers of the market growth.
Rising research & clinical trial activities for the development of novel vaccines is predicted to grow at fastest CAGR during the forecast period. The deployment of various initiatives by market participants to increase the uptake of vaccinations in their respective countries has been prompted by the increasing occurrence of influenza globally. For instance, in August 2022, A phase I clinical study for the H1 influenza vaccination utilizing Vaxess's MIMIX patch has been announced by Vaxess Technologies Inc.
By vaccine type, inactivated was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the growing prevalence of diseases, increasing demand for effective vaccines, rising launch of new vaccines by market players, and surge in approval of advanced vaccines. For instance, in March 2022, Health Canada has granted approval to Seqirus for Flucelvax quadrivalent, a cell-based influenza vaccine suitable for individuals aged two years and older. This approval expands eligibility for these vaccines to include children between the ages of 2 and 18. Additionally, live attenuated is predicted to grow at fastest CAGR during the forecast period owing to the cost-effectiveness of the vaccines and rising research & development activities for the development of innovative vaccines.
By indication, quadrivalent was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the increased preference for quadrivalent vaccinations among medical professionals can be attributed to their strong efficiency against viral infections, economic effectiveness, & convenient accessibility in clinics & hospitals, growing number of clinical trial procedures. For instance, in April 2022, Novavax Inc. has reported preliminary findings from the Phase 1/2 clinical trial of its COVID-19-influenza Combination Vaccine, indicating favorable tolerability and reliability of the candidate vaccine in development. Additionally, trivalent is predicted to grow at fastest CAGR during the forecast period owing to the rising preference of trivalent vaccines over quadrivalent and increasing research & development activities.
By age group, adult was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the rising initiatives by UNICEF, GAVI, & PAH to raise vaccination rates & purchase high vaccine doses, growing geriatric population, and increasing launch of novel vaccines. Additionally, pediatric is predicted to grow at fastest CAGR during the forecast period owing to the newborns & babies receive a high dose of vaccines to combat the influenza virus, growing demand for pediatric vaccines, increasing research & development activities to develop novel products. For instance, in November 2022, Researchers at the University of Pennsylvania have created an mRNA-based flu vaccine capable of safeguarding against potential flu pandemics involving 20 different subtypes.
By route of administration, injection was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the surge in number of potential intramuscular vaccines on the market, the availability of a diverse variety of injectable medicines, and increasing product approvals by regulatory bodies. Additionally, nasal spray is predicted to grow at fastest CAGR during the forecast period owing to the growing use of nasal spray or intranasal vaccinations in home healthcare settings, simplicity of self-administration, and capability of inducing both systemic and mucosal immunity, and increasing research & development activities. For instance, in February 2022, A team of scientists from the Institute for Biomedical Sciences at Georgia State University discovered that administering the influenza vaccine through the nasal route resulted in a heightened immune response and provided robust defense against different strains of the flu virus.
By distribution channel, hospitals & pharmacies was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the significant supply of vaccines from hospitals rising number of hospitals & pharmacies offering flu vaccinations, and surge in large-scale immunization campaigns carried out at smaller institutions. Additionally, government & institutional supply is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of influenza and increasing initiatives by government for vaccination & immunization programs. For instance, in June 2022, The New Zealand government has broadened the availability of free flu vaccines to encompass children and individuals facing mental health challenges.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing launch of effective products, rising focus on development of technologically advanced vaccine facilities, growing prevalence of influenza infection, and surge in investment by major market players. For instance, in July 2022, Sanofi's vaccines, Fluzone High-Dose Quadrivalent and Flublok Quadrivalent, have been granted approval in the United States for the 2022-2023 influenza season for individuals aged 65 and older. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the increasing government initiatives to provide flu vaccines, growing awareness regarding influenza, rising investments by major market players, surge in research & development activities, and increasing government initiatives. For instance, in July 2022, GSK Plc has forged a deal with the European Commission's Health Emergency Preparedness and Response Authority (HERA) to manufacture and deliver 85.0 million doses of Adjupanrix, a pandemic influenza vaccine. Pursuant to this agreement, GSK will distribute these doses to 12 European countries participating in the arrangement.
Rising research & clinical trial activities for the development of novel vaccines is predicted to grow at fastest CAGR during the forecast period. The deployment of various initiatives by market participants to increase the uptake of vaccinations in their respective countries has been prompted by the increasing occurrence of influenza globally. For instance, in August 2022, A phase I clinical study for the H1 influenza vaccination utilizing Vaxess's MIMIX patch has been announced by Vaxess Technologies Inc.
By vaccine type, inactivated was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the growing prevalence of diseases, increasing demand for effective vaccines, rising launch of new vaccines by market players, and surge in approval of advanced vaccines. For instance, in March 2022, Health Canada has granted approval to Seqirus for Flucelvax quadrivalent, a cell-based influenza vaccine suitable for individuals aged two years and older. This approval expands eligibility for these vaccines to include children between the ages of 2 and 18. Additionally, live attenuated is predicted to grow at fastest CAGR during the forecast period owing to the cost-effectiveness of the vaccines and rising research & development activities for the development of innovative vaccines.
By indication, quadrivalent was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the increased preference for quadrivalent vaccinations among medical professionals can be attributed to their strong efficiency against viral infections, economic effectiveness, & convenient accessibility in clinics & hospitals, growing number of clinical trial procedures. For instance, in April 2022, Novavax Inc. has reported preliminary findings from the Phase 1/2 clinical trial of its COVID-19-influenza Combination Vaccine, indicating favorable tolerability and reliability of the candidate vaccine in development. Additionally, trivalent is predicted to grow at fastest CAGR during the forecast period owing to the rising preference of trivalent vaccines over quadrivalent and increasing research & development activities.
By age group, adult was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the rising initiatives by UNICEF, GAVI, & PAH to raise vaccination rates & purchase high vaccine doses, growing geriatric population, and increasing launch of novel vaccines. Additionally, pediatric is predicted to grow at fastest CAGR during the forecast period owing to the newborns & babies receive a high dose of vaccines to combat the influenza virus, growing demand for pediatric vaccines, increasing research & development activities to develop novel products. For instance, in November 2022, Researchers at the University of Pennsylvania have created an mRNA-based flu vaccine capable of safeguarding against potential flu pandemics involving 20 different subtypes.
By route of administration, injection was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the surge in number of potential intramuscular vaccines on the market, the availability of a diverse variety of injectable medicines, and increasing product approvals by regulatory bodies. Additionally, nasal spray is predicted to grow at fastest CAGR during the forecast period owing to the growing use of nasal spray or intranasal vaccinations in home healthcare settings, simplicity of self-administration, and capability of inducing both systemic and mucosal immunity, and increasing research & development activities. For instance, in February 2022, A team of scientists from the Institute for Biomedical Sciences at Georgia State University discovered that administering the influenza vaccine through the nasal route resulted in a heightened immune response and provided robust defense against different strains of the flu virus.
By distribution channel, hospitals & pharmacies was the highest revenue-grossing segment in the global influenza vaccine market in 2023 owing to the significant supply of vaccines from hospitals rising number of hospitals & pharmacies offering flu vaccinations, and surge in large-scale immunization campaigns carried out at smaller institutions. Additionally, government & institutional supply is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of influenza and increasing initiatives by government for vaccination & immunization programs. For instance, in June 2022, The New Zealand government has broadened the availability of free flu vaccines to encompass children and individuals facing mental health challenges.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing launch of effective products, rising focus on development of technologically advanced vaccine facilities, growing prevalence of influenza infection, and surge in investment by major market players. For instance, in July 2022, Sanofi's vaccines, Fluzone High-Dose Quadrivalent and Flublok Quadrivalent, have been granted approval in the United States for the 2022-2023 influenza season for individuals aged 65 and older. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the increasing government initiatives to provide flu vaccines, growing awareness regarding influenza, rising investments by major market players, surge in research & development activities, and increasing government initiatives. For instance, in July 2022, GSK Plc has forged a deal with the European Commission's Health Emergency Preparedness and Response Authority (HERA) to manufacture and deliver 85.0 million doses of Adjupanrix, a pandemic influenza vaccine. Pursuant to this agreement, GSK will distribute these doses to 12 European countries participating in the arrangement.
Segmentation: Influenza Vaccine Market Report 2022 - 2033
Influenza Vaccine Market Analysis & Forecast by Vaccine Type 2023 - 2034 (Revenue USD Bn)
- Live Attenuated
- Inactivated
Influenza Vaccine Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)
- Trivalent
- Quadrivalent
Influenza Vaccine Market Analysis & Forecast by Age Group 2023 - 2034 (Revenue USD Bn)
- Adult
- Pediatric
Influenza Vaccine Market Analysis & Forecast by Route of Administration 2023 - 2034 (Revenue USD Bn)
- Nasal Spray
- Injection
Influenza Vaccine Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Government & Institutional Supply
- Hospitals & Pharmacies
- Other
Influenza Vaccine Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Influenza Vaccine Market: Vaccine Type Estimates & Trend Analysis
8. Influenza Vaccine Market: Indication Estimates & Trend Analysis
9. Influenza Vaccine Market: Age Group Estimates & Trend Analysis
10. Influenza Vaccine Market: Route of Administration Estimates & Trend Analysis
11. Influenza Vaccine Market: Distribution Channel Estimates & Trend Analysis
12. Regional Market Analysis
13. North America Influenza Vaccine Market
14. Europe Global Influenza Vaccine Market
15. Asia Pacific Global Influenza Vaccine Market
16. Latin America Global Influenza Vaccine Market
17. MEA Global Influenza Vaccine Market
18. Competitor Analysis
19. Company Profiles
Companies Mentioned
- Viatris Inc.
- GSK plc
- Abbott
- Pfizer Inc
- Merck & Co. Inc.
- Vaxess Technologies Inc
- OSIVAX
- AstraZeneca
- CSL Limited
- SINOVAC
- Sanofi
- EMERGENT
- EMERGEX VACCINES
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 8.45 Billion |
| Forecasted Market Value ( USD | $ 19.56 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
