Influenza Vaccine - Market Insights, Competitive Landscape, and Market Forecast - 2032

Influenza Vaccine Market by Type (Inactivated Influenza Vaccine, Recombinant Influenza Vaccine, and Live Attenuated Influenza Vaccine), Valency (Trivalent, Quadrivalent), Manufacturing Process (Egg-based Vaccine, Cell Culture-based Vaccine), Route of Administration (Nasal, Systemic), Distribution Channel (Hospital and Retail Pharmacy, Government Agencies), Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2032 owing to the increasing prevalence of influenza and the rising adoption of influenza vaccine

The influenza vaccine market was valued at USD 8,247.44 million in 2024, growing at a CAGR of 6.87% during the forecast period from 2025 to 2032 to reach USD 13,950.82 million by 2032. The need for influenza vaccination is primarily driven by the increasing prevalence of influenza worldwide due to the spread of the virus through droplets transmitted via cough and sneezing. The rising adoption of the influenza vaccine and government initiatives to promote awareness through vaccination are the key factors contributing to the growth of the market. Furthermore, Growing R&D initiatives by key players to develop universal influenza vaccine are driving the influenza vaccine market growth during the forecast period (2025-2032)

Influenza Vaccine Market Dynamics:

According to data provided by the Centers for Disease Control and Prevention (CDC), the morbidity rate during the 2022 to 2023 period mirrored that of pre-pandemic seasons, with approximately 31 million individuals affected by influenza, resulting in 14 million healthcare provider consultations and 360,000 flu-related hospital admissions. In April 2024, according to Australian Center for Disease Control, for the year 2023, Australia had already recorded over 37,700 laboratory-confirmed cases, marking a 40% increase compared to the corresponding period last year.

In February 2023, according to Seasonal Influenza Vaccination Coverage Survey, which is conducted by Government of Canada to collect the adoption of vaccination for influenza, the influenza vaccination coverage saw a rise from 39% during the 2021-2022 period to 43% in 2022-2023, now returning to pre-pandemic levels. A notable shift was observed in the vaccination venues, with a higher proportion of adults opting to receive their flu shot in a pharmacy (52%) or at temporary vaccine clinics (12%) compared to the 2019-2020 season. Government entities strongly providing support to avail vaccination, highlighting that influenza vaccination stands as the most efficacious measure for preventing influenza.

For instance, in October 2023, the Taiwan government launched an influenza vaccination campaign. The government sustained the provision of 6.98 million doses of the quadrivalent government-funded influenza vaccine, extending coverage to 29.6% of the total population.

In October 2023, Pfizer Inc. and BioNTech announced favorable initial findings from a Phase 1/2 clinical trial assessing the safety, tolerance, and immune response of mRNA-based combination vaccine candidates targeting both influenza and COVID-19 in healthy adults aged 18 to 64 years.

However, the long period for vaccine production, and the limited efficacy against seasonal strains, among others are some of the key constraints that may limit the growth of the influenza vaccine market.

Influenza Vaccine Market Segment Analysis:

Influenza Vaccine Market by Type (Inactivated Influenza Vaccine, Recombinant Influenza Vaccine, and Live Attenuated Influenza Vaccine), Valency (Trivalent, Quadrivalent), Manufacturing Process (Egg-based Vaccine, Cell Culture-based Vaccine), Route of Administration (Nasal, Systemic), Distribution Channel (Hospital and Retail Pharmacy, Government Agencies), Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the type segment of the influenza vaccine market, the inactivated influenza vaccine category is estimated to generate a significant revenue share in the influenza vaccine market in 2024. This can be attributed to the high safety and efficacy and low manufacturing cost, due to this inactivated influenza vaccine has the highest percentage of administration across the globe. According to a study published by the World Health Organization in 2024, inactivated vaccines, manufactured using eggs or cell cultures, accounted for approximately 98% of the total volume of the 2022 seasonal influenza vaccine.

In September 2023, Clover Biopharmaceuticals, announced the launch of AdimFlu-S (QIS) in China, marking the availability of a quadrivalent seasonal influenza vaccine authorized for administration in individuals aged three years and above. AdimFlu-S (QIS) represents a quadrivalent split inactivated vaccine designed for influenza prevention. It comprises hemagglutinin sourced from four distinct influenza virus strains, encompassing two A strains and two B strains.

Inactivated vaccines exhibit greater stability and a lower propensity for mutation compared to live vaccines. This characteristic renders them a preferred option for transportation and storage, as they are less susceptible to temperature fluctuations. This vaccine has a high safety profile and stimulates the immune system to produce antibodies to protect against four strains of the virus.

Therefore, the high efficacy and safety and greater stability associated with the inactivated influenza vaccine category are estimated to contribute to the growth of the segment, thereby driving the growth of the overall influenza vaccine market during the forecast period.

North America is expected to dominate the overall Influenza Vaccine Market:

North America is expected to account for the highest market share of the influenza vaccine market in 2024. This is due to the rising number of influenza cases in the region and growing government support for vaccination programs. These are the factors contributing to the growth of the influenza vaccine market in North America.

According to the data provided by the Centers for Disease Control and Prevention (CDC) in February 2024, between 2010 and 2023, influenza has led to an annual range of 9.3 million to 41 million illnesses and 100,000 to 710,000 hospitalizations. In December 2023, as per the report shared by the Canadian government, in the 2021 to 2022 influenza season, there were 16,126 laboratory-confirmed influenza detections out of a total of 751,900 laboratory tests conducted.

Additionally, government organizations in the region are actively providing support to prevent and treat flu in the region. In 2024, the CDC disclosed the identification of an extra USD 93 million to bolster its ongoing response initiatives for avian influenza. This funding has been allocated for the purposes of influenza prevention and vaccination efforts.

In July 2022, GSK plc announced a partnership agreement with the Government of Canada aimed at providing pandemic and seasonal influenza vaccines to safeguard both Canadian adults and children. Under this contract, GSK provided up to 80 million doses of pandemic influenza vaccine to the Government of Canada in the event of influenza pandemics. Additionally, a total of 16 million doses of seasonal influenza vaccine will be supplied throughout the contract. These are some of the factors contributing to the growth of the influenza vaccine market in the region.

Influenza Vaccine Market Key Players:

Some of the key market players operating in the influenza vaccine market include GSK plc, Pfizer Inc., BioNTech, SINOVAC, Moderna, Inc., Merck & Co., Inc., Sanofi, AstraZeneca, CSL, Abbott, Novavax, Gilead Sciences, Inc., Serum Institute Of India Pvt. Ltd., DAIICHI SANKYO COMPANY, LIMITED, Novartis AG, Cadila Pharmaceuticals, Boehringer Ingelheim International GmbH, Zydus Pharmaceuticals, Inc., Panacea Biotec, Bharat Biotech, and others.

Recent Developmental Activities in the Influenza Vaccine Market:

• In April 2024, CureVac SE, announced the commencement of Phase 1 for a collaborative venture with GSK marking the initiation of a combined Phase 1/2 investigation into an experimental pre-pandemic vaccine targeting influenza A (H5N1). This is a monovalent vaccine candidate based on mRNA technology and encodes an influenza A H5-antigen.
• In October 2023, Moderna, Inc. announced the interim findings from the Phase 1/2 trial of mRNA-1083, a potential combination vaccine addressing both influenza and COVID-19, have been reported as favorable. mRNA-1083 showed a strong immunogenicity and safety profile against influenza.

Key Takeaways from the Influenza Vaccine Market Report Study

• Market size analysis for current Influenza Vaccine Market size (2024), and market forecast for 8 years (2025-2032)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Influenza Vaccine market.
• Various opportunities available for the other competitors in the Influenza Vaccine Market space.
• What are the top-performing segments in 2024? How these segments will perform in 2032?
• Which are the top-performing regions and countries in the current Influenza Vaccine market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Influenza Vaccine market growth in the coming future?

Target Audience who can be benefited from this Influenza Vaccine Market Report Study

• Influenza Vaccine product providers
• Research organizations and consulting companies
• Influenza Vaccine related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Influenza Vaccine
• Various end-users who want to know more about the Influenza Vaccine Market and the latest developments in the Influenza Vaccine Market.

FREQUENTLY ASKED QUESTIONS FOR THE INFLUENZA VACCINE MARKET:

1. What are Influenza Vaccine?

• An influenza vaccine is a proactive solution aimed at mitigating the impact of influenza viruses. It comprises either inactivated or weakened strains of the virus, or its fragments, stimulating the body's immune response to produce antibodies. These antibodies serve as a defense mechanism against the virus upon subsequent exposure. Given the virus's tendency to mutate, necessitating regular updates, influenza vaccines are typically administered annually to maintain efficacy.

2. What is the market for Influenza Vaccine?

• The influenza vaccine market was valued at USD 8,247.44 million in 2024, growing at a CAGR of 6.87% during the forecast period from 2025 to 2032 to reach USD 13,950.82 million by 2032.

3. What are the drivers for the global Influenza Vaccine market?

• The need for influenza vaccination is primarily driven by the increasing prevalence of influenza worldwide due to the spread of the virus through droplets transmitted via cough and sneezing. The rising adoption of the influenza vaccine and government initiatives to promote awareness through vaccination are the key factors contributing to the growth of the market. Furthermore, Growing R&D initiatives by key players to develop universal influenza vaccine are driving the influenza vaccine market growth during the forecast period (2025-2032).

4. Who are the key players operating in the global Influenza Vaccine market?)

• Some of the key market players operating in the influenza vaccine include GSK plc, Pfizer Inc., BioNTech, SINOVAC, Moderna, Inc., Merck & Co., Inc., Sanofi, AstraZeneca, CSL, Abbott, Novavax, Gilead Sciences, Inc., Serum Institute Of India Pvt. Ltd., DAIICHI SANKYO COMPANY, LIMITED, Novartis AG, Cadila Pharmaceuticals, Boehringer Ingelheim International GmbH, Zydus Pharmaceuticals, Inc., Panacea Biotec, Bharat Biotech, and others.

5. Which region has the highest share in the global Influenza Vaccine market?

• North America is expected to account for the highest market share of the influenza vaccine market in 2024. This is due to the rising number of influenza cases in the region and growing government support for vaccination programs. These are the factors contributing to the growth of the influenza vaccine market in North America.