Influenza vaccines help in prevention of seasonal influenza by working with the body's natural defense mechanism to safely develop immunity against flu viruses without having to get the flu. Influenza vaccines reduce the chances of contracting flu and if viral particles are encountered, it helps in developing swift immune response. Influenza vaccines are available in three types - trivalent vaccines that protect against two influenza A viruses and one influenza B virus, quadrivalent vaccines that protect against an additional B virus and recombinant vaccines that are developed using gene-amplification biotechnology rather than egg cultivation. Their increased demand for prevention of seasonal flu across age groups is driven by growing awareness about effectiveness of flu shots and expanding vaccination programs worldwide.

The global Influenza Vaccines Market is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The increased demand for seasonal flu prevention (as referred in the heading) is one of the key drivers propelling growth of the influenza vaccines market. Annual flu vaccination is most important step to prevent seasonal flu and its potentially serious complications. With growing focus on curbing spread of influenza, vaccination programs backed by health organizations like WHO, national health ministries are driving up uptake of flu shots across households and high-risk groups. Additionally, continuous technological advancements in flu vaccines production technologies has enhanced supply capabilities to meet rising global demand. Introduction of cell-culture and recombinant technology produced influenza vaccines with improved stability, scalability and timely availability is further supplementing market growth over the forecast period.

Segment Analysis

The global influenza vaccines market is segmented into type, vaccination, age group, distribution channel and region. Based on type, the market is segmented into trivalent and quadrivalent influenza vaccines. Among these, the trivalent influenza vaccines segment dominates the market as it offers protection against three different flu virus strains which is recommended by WHO for vaccination.

PEST Analysis

Political: Governments across many countries are taking initiatives to spread awareness about influenza vaccination and fund influenza vaccination programs, especially for high-risk groups. This is driving the market growth.
Economic: Influenza outbreaks can significantly impact a country's economy due to loss of productivity. Widespread influenza vaccination programs help reduce the economic burden of influenza on healthcare systems and productivity.
Social: Increasing public awareness about seasonal influenza, risk of influenza infection, availability of vaccines and importance of vaccination is encouraging more people to take the vaccine annually.
Technological: Continuous research is being conducted by key players to develop improved influenza vaccines with enhanced efficacy, longer durability and multi-strain protection abilities using advanced technologies.

Key Takeaways

The Global Influenza Vaccines Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising awareness, government funding for vaccination programs and new vaccine development. The global influenza vaccines market is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period of 2023 to 2030.

Regional analysis

The Asia Pacific region is expected to remain the fastest growing market during the forecast period due to rapid improvement in healthcare infrastructure and growing focus of governments on immunization programs in populous countries like India and China. New vaccine facilities being set up by key players will also support market growth.

Key players

Key players operating in the influenza vaccines market are DuPont de Nemours, Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation and Grasim Industries Limited. These players are focusing on launching differentiated products and expanding manufacturing capacities to strengthen their market positions.

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