Influenza Vaccines Market Predicted To Hit USD 13.9 Billion By 2033

Introduction

The Global Influenza Vaccine Market size is expected to be worth around USD 13.9 Billion by 2033 from USD 6.7 Billion in 2023, growing at a CAGR of 7.6% during the forecast period from 2024 to 2033.

The growth of the influenza vaccine market is driven by ongoing advancements in vaccine formulations and expanded vaccination guidelines. For the 2024-2025 season, the vaccines have been refined to boost efficacy against current strains. Moreover, the CDC now advises annual flu vaccinations for individuals aged six months and older, which aims to strengthen community immunity and reduce influenza spread.

Particularly, high-dose and adjuvanted vaccines are increasingly recommended for high-risk groups such as the elderly to elicit a stronger immune response. The market is also diversifying into vaccine types like recombinant and cell culture-based options, catering to different health needs and preferences. This approach seeks to raise vaccination rates among various demographic segments. Additionally, enhanced public health initiatives are crucial in reducing vaccine hesitancy and promoting the advantages of flu vaccination.

Technological innovations are transforming vaccine delivery, with research into intradermal systems and microneedle patches aiming to simplify and improve the vaccination process, potentially boosting public adherence. These developments are vital for extending vaccine coverage and efficacy, especially for annual flu seasons and new influenza challenges.

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:
  • In the 2022-2023 flu season, 173.4 million doses of the influenza vaccine were distributed.
  • The vaccine achieved an effectiveness of 54% during the same season, the highest since 2013.
• Vaccination Rates:
  • About 46.9% of U.S. adults received the flu vaccine in the 2022-2023 season, a decrease from 49.4% the previous year.
  • The vaccination rate for children aged 6 months to 17 years remained stable at 57.4%, similar to 57.8% in the 2021-2022 season.
  • For specific age groups, 65.6% of children aged 6 months to 4 years were vaccinated, 59.3% of those aged 5 to 12 years, and 49.0% of adolescents aged 13 to 17 years.
  • The overall vaccination rate for the 2022-2023 season was 6.3 percentage points below the pre-pandemic rate of 63.7% in the 2019-2020 season.
• Impact of Flu Vaccination:
  • In the 2019-2020 season, flu vaccinations prevented approximately 7 million flu cases, 3 million flu-related medical visits, 100,000 hospitalizations, and 7,000 flu-related deaths.
  • A 2021 study found that vaccinated adults had a 26% lower risk of ICU admission and a 31% lower risk of death from the flu compared to unvaccinated adults.
  • According to 2018 research, vaccinated adults were 59% less likely to be admitted to the ICU for flu-related reasons, and if admitted, they spent an average of four fewer days in the hospital.
  • A 2020 study indicated that flu vaccinations reduced hospitalizations by 41% and emergency department visits by 50% among children aged 6 months to 17 years during the 2018-2019 flu season.
  • 2022 research showed that flu vaccinations reduced the risk of severe, life-threatening influenza in children by 75%.

Market Player Recent Developments

• Sanofi S.A. (May 2024): Sanofi completed the acquisition of Inhibrx, Inc. This acquisition enhances Sanofi’s capabilities in rare disease treatments, adding the promising candidate SAR447537, which aims to treat alpha-1 antitrypsin deficiency more effectively.
• Pfizer Inc. (March 2023): Pfizer completed its acquisition of Seagen Inc., a leader in Antibody-Drug Conjugate (ADC) technology. This acquisition significantly expands Pfizer’s oncology portfolio, adding four key medicines and doubling the size of its oncology pipeline, which is expected to drive future developments in cancer treatment.
• Sinovac Biotech Ltd. (June 2024): Sinovac Biotech Ltd. received approval from China’s National Medical Products Administration for their influenza vaccine. This vaccine, which targets two A strains and two B strains of the influenza virus, marks a significant advancement in Sinovac’s vaccine offerings.
• Abbott (2024): In 2024, Abbott continued to innovate in flu prevention and management with the launch of Influvac Tetra, an enhanced version of their established Influvac vaccine. This quadrivalent vaccine offers protection against four different flu viruses, aiming to provide broader coverage and greater protection against influenza. The vaccine is part of Abbott’s strategic efforts to enhance flu care and prevention globally, especially in emerging markets where Influvac has been a key flu prevention tool since 1949.
• AstraZeneca plc (February 2024): AstraZeneca completed its acquisition of Icosavax, a clinical-stage biopharmaceutical company known for its innovative protein virus-like particle (VLP) technology. This acquisition enhances AstraZeneca’s capabilities in developing vaccines for high-burden respiratory diseases, including influenza, by integrating Icosavax’s advanced VLP technology and expertise into its portfolio.

Emerging Trends

• mRNA-based Vaccines: Inspired by the effectiveness of COVID-19 mRNA vaccines, mRNA technology is being adapted for influenza vaccines. This method enables rapid, flexible production, improving alignment between vaccine strains and prevalent viruses. Significant investments by the U.S. Department of Health and Human Services, with Moderna at the forefront, highlight the potential of mRNA vaccines to enhance influenza control and pandemic readiness.
• Virus-like Particle (VLP) Vaccines: VLP vaccines, which mimic the structure of the virus without containing genetic material, are leading innovations in flu prevention. They cannot cause infection but are capable of triggering robust T-cell and B-cell immune responses, potentially offering wider protection against influenza. Their adaptable formulation enhances their promise in the continual development of flu vaccines.
• Recombinant Hemagglutinin (HA) Vaccines: Sanofi Pasteur’s Flublok exemplifies recombinant HA vaccines that use advanced technology to quickly produce hemagglutinin proteins, surpassing traditional methods. This technique not only accelerates vaccine production but also reduces mutation risks associated with egg-based production, making it crucial for rapid responses to pandemic threats.
• Adjuvanted and High-Dose Vaccines: There’s increasing focus on adjuvanted and high-dose flu vaccines, especially for high-risk groups like the elderly or immunocompromised. Vaccines such as HD-IIV3 and aIIV3 are designed to provoke a stronger immune response, essential for effectively safeguarding these vulnerable populations.

Use Cases

• Seasonal Flu Prevention: Influenza vaccines are essential for mitigating seasonal flu outbreaks. Annually updated to align with the predicted prevalent strains, these vaccines play a critical role in reducing flu-related hospitalizations and fatalities. In the U.S., flu can cause up to 710,000 hospitalizations and 52,000 deaths each year. Keeping vaccinations current is key to controlling and minimizing the impact of seasonal flu.
• Pandemic Preparedness: The advent of mRNA and recombinant vaccine technologies has transformed pandemic response capabilities. These platforms enable rapid vaccine production, crucial for addressing pandemic flu strains swiftly. This quick turnaround is vital for enhancing vaccine effectiveness against new strains, providing a significant advantage over traditional, slower vaccine production methods.
• Protecting High-risk Populations: Flu vaccines are especially vital for high-risk groups, such as the elderly and those with weakened immune systems. Formulations like high-dose vaccines are tailored to induce a stronger immune response, offering crucial protection. This heightened immunity is pivotal in preventing severe flu complications, thereby significantly safeguarding the health of vulnerable populations.
• Global Health Equity: Influenza vaccination efforts are integral to advancing global health equity. Initiatives to broaden demographic inclusivity in vaccine trials and enhance global vaccination access are imperative. Such efforts aim to eradicate disparities in vaccination rates and health outcomes, particularly among racial and ethnic minorities, ensuring equitable health protection worldwide.

Conclustion

The influenza vaccine market is poised for significant growth, driven by advancements in vaccine technology, expanded vaccination guidelines, and heightened public health initiatives. With the introduction of high-dose, adjuvanted, and mRNA vaccines, as well as innovative delivery systems like microneedle patches, the industry aims to enhance vaccine efficacy and coverage, particularly among high-risk populations. The strategic collaborations among pharmaceutical giants and recent regulatory approvals further underscore the industry’s commitment to combating influenza. These efforts are essential in improving global health outcomes by increasing vaccination rates and preparing for pandemic threats, ultimately fostering global health equity.

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