Influenza Vaccine Market Set to Double to $13.9 Billion by 2033

Introduction

The global Influenza Vaccine Market is projected to expand from USD 6.7 billion in 2023 to USD 13.9 billion by 2033, with a CAGR of 7.6% from 2024 to 2033. This growth is propelled by continuous updates in vaccine compositions and the broadening of vaccination recommendations. For instance, the 2024-2025 influenza vaccines have been updated to enhance their efficacy against current virus strains. Additionally, health authorities such as the CDC now recommend annual vaccinations for everyone over six months of age, aiming to bolster population immunity and curb the spread of influenza.

High-dose and adjuvanted vaccines are increasingly advocated for high-risk populations like older adults, to provoke a stronger immune response. Moreover, the market sees a diversification in vaccine types, including recombinant and cell culture-based vaccines, to accommodate varying health statuses and preferences. This strategy is intended to elevate vaccination rates across different demographic groups. Concurrently, enhanced public health campaigns help mitigate vaccine hesitancy and promote the benefits of flu vaccinations more effectively.

Technological advancements are also reshaping vaccine administration. Innovations such as intradermal systems and microneedle patches are being investigated to simplify and enhance the vaccination process, potentially increasing public compliance. These improvements are crucial for expanding vaccine reach and effectiveness, particularly in responding to annual flu seasons and emerging influenza challenges.

Recent developments highlight a significant push towards achieving broader and more inclusive protection. In January 2024, Novavax commenced a Phase 3 trial for its universal influenza vaccine candidate, NVX-102, which targets a universally conserved virus region, potentially offering protection against a wider range of strains. Furthermore, in December 2023, AstraZeneca and Seqirus formed a collaboration to develop next-generation influenza vaccines, focusing on broad-spectrum protection.

Other noteworthy advancements include the EU’s approval of Sanofi Pasteur’s Quadrivalent FLUONE High-Dose Influenza Vaccine for the elderly in October 2023, enhancing protection against flu complications in older adults. GSK has also progressed its mRNA seasonal influenza vaccine candidate to Phase III trials, underlining the expanding use of mRNA technology in vaccine development. These initiatives are indicative of the industry’s robust commitment to enhancing the efficacy and inclusiveness of influenza vaccinations, steering ongoing innovation in this essential healthcare domain.

Key Takeaways

• Market Growth: The influenza vaccine market is expected to grow from USD 6.7 billion in 2023 to USD 13.9 billion by 2033, at a 7.6% CAGR.
• Inactivated Vaccines: Dominate the market with a 92.9% share, outperforming other types due to widespread preference and reliability.
• Quadrivalent Vaccines: Lead the market with a 58.2% revenue share, favored for their comprehensive protection and cost-effectiveness.
• Target Demographics: Adults represent 78.4% of the market, primarily due to targeted immunization campaigns and an aging population.
• Administration Method: Injections are the preferred method, holding a 60.7% market share, with nasal sprays gaining favor for their convenience.
• Primary Distributors: Hospitals and retail pharmacies lead distribution with a 37.4% share, supported by high vaccine uptake due to frequent influenza cases.
• Regional Dominance: North America holds the largest market share at 53.9%, with Europe following closely.
• Asia-Pacific Growth: Expected to see rapid market growth driven by robust government support and increased public health awareness.
• Industry Developments: Recent activities include vaccine approvals and strategic partnerships among leading pharmaceutical firms.

Influenza Vaccine Statistics

• Vaccine Distribution and Effectiveness:
  • During the 2022–2023 flu season, 173.4 million doses of the influenza vaccine were distributed.
  • The vaccine’s effectiveness for the 2022–2023 season was estimated at 54%, marking the highest effectiveness since 2013.
• Vaccination Rates:
  • Approximately 46.9% of U.S. adults were vaccinated against the flu during the 2022–2023 season, showing a decrease of 2.5 percentage points from the previous season’s 49.4%.
  • For children aged 6 months to 17 years, the vaccination rate held steady at 57.4%, similar to the 57.8% in the 2021–22 season.
  • Specifically, flu vaccination coverage was 65.6% for children aged 6 months to 4 years, 59.3% for those aged 5 to 12 years, and 49.0% for adolescents aged 13 to 17 years, all maintaining similar levels to the previous season.
  • The overall vaccination rate in the 2022–23 season was 6.3 percentage points lower than the pre-pandemic season of 2019–2020, which had a rate of 63.7%.
• Impact of Flu Vaccination:
  • During the 2019-2020 flu season, vaccinations prevented roughly 7 million flu illnesses, 3 million flu-related medical visits, 100,000 hospitalizations, and 7,000 flu-related deaths.
  • A 2021 study highlighted that vaccinated adults hospitalized with flu had a 26% lower chance of ICU admission and a 31% lower risk of death compared to those unvaccinated.
  • According to a 2018 study, vaccinated adults were 59% less likely to be admitted to the ICU due to flu, and if admitted, they spent four fewer days in the hospital on average than unvaccinated patients.
  • A 2020 study showed that flu vaccinations reduced hospitalizations by 41% and emergency department visits by half among children aged 6 months to 17 years during the 2018-2019 season.
  • Research from 2022 indicated that flu vaccinations lowered the risk of severe, life-threatening influenza in children by 75%.

Emerging Trends

• mRNA-based Vaccines: Leveraging the success seen with COVID-19 mRNA vaccines, mRNA technology is now being adapted for influenza vaccines. This approach allows for rapid and flexible manufacturing, potentially enhancing the match between the vaccine strains and circulating viruses. The U.S. Department of Health and Human Services has invested significantly in this technology, with Moderna leading advancements. This trend underscores the potential of mRNA vaccines in improving responses to influenza outbreaks and pandemic preparedness.
• Virus-like Particle (VLP) Vaccines: VLP vaccines are at the forefront of influenza prevention strategies. They mimic the virus’s structure but lack genetic material, which means they cannot cause infection. This type of vaccine stimulates both T-cell and B-cell immune responses, offering the possibility of broader protection against the flu. Their flexible formulation capabilities make VLP vaccines a promising option in the ongoing evolution of flu prevention.
• Recombinant Hemagglutinin (HA) Vaccines: Sanofi Pasteur’s Flublok is an example of a recombinant HA vaccine, which utilizes cutting-edge technology to produce hemagglutinin proteins more quickly than traditional methods. This approach not only speeds up vaccine production but also minimizes the risk of mutations that can occur with egg-based production processes. Recombinant HA vaccines are particularly crucial in rapidly responding to pandemic threats.
• Adjuvanted and High-Dose Vaccines: There is growing interest in adjuvanted and high-dose influenza vaccines, particularly for vulnerable populations such as the elderly or those with compromised immune systems. These vaccines, including formulations like HD-IIV3 and aIIV3, are designed to elicit a stronger immune response, which is vital for protecting these high-risk groups effectively.

Use Cases

• Seasonal Flu Prevention: Influenza vaccines are crucial for seasonal flu prevention. Each year, these vaccines are updated to match the most common flu strains anticipated for the upcoming season. This proactive approach is vital, as it helps to significantly reduce the number of flu-related hospitalizations and deaths. In the United States alone, the flu can lead to as many as 710,000 hospitalizations and 52,000 deaths annually. By maintaining up-to-date vaccinations, communities can better manage and minimize the impact of seasonal flu outbreaks.
• Pandemic Preparedness: The development of mRNA and recombinant vaccine platforms has revolutionized pandemic preparedness. These technologies allow for the swift production of vaccines, which is crucial in responding to pandemic flu strains. This rapid response capability can enhance the effectiveness of vaccines against emerging strains, offering a critical advantage over more traditional vaccine production methods that are often slower.
• Protecting High-risk Populations: Influenza vaccines are particularly important for high-risk groups, such as older adults and individuals with compromised immune systems. Special vaccine formulations, like high-dose vaccines, are designed to elicit a stronger immune response. This enhanced protection is essential for these vulnerable populations, helping to prevent severe influenza complications and safeguard their health more effectively.
• Global Health Equity: Addressing global health equity is a key use case for influenza vaccines. Efforts to include diverse demographic groups in vaccine trials and to improve access to vaccinations worldwide are crucial. These initiatives aim to eliminate disparities in vaccination rates and health outcomes, especially among racial and ethnic minority populations. Through such inclusive practices, global health communities strive to ensure equitable health protections for all individuals, regardless of background.

Conclusion

The global Influenza Vaccine Market is set to experience robust growth, primarily driven by advancements in vaccine technology and expanded vaccination guidelines. The introduction of updated vaccines and the incorporation of various vaccine types cater to diverse health needs, ensuring broader demographic coverage. Strategic collaborations among key players and the adoption of newer technologies like mRNA and recombinant vaccines underscore a dynamic shift towards more efficient and inclusive influenza prevention. These initiatives significantly contribute to public health by enhancing the effectiveness of seasonal flu vaccines and improving pandemic preparedness. The ongoing focus on high-risk populations and global health equity further reinforces the market’s commitment to broadening access and improving health outcomes worldwide.

Discuss Your Needs With Our Analyst

Please share your requirements with more details so our analyst can check if they can solve your problem(s)

Request a Sample Download PDF