Pune, Oct. 20, 2020 (GLOBE NEWSWIRE) -- The global influenza vaccines market size is slated to reach USD 7.34 billion by 2026, exhibiting a CAGR of 7.7% during the forecast period. Increasing prevalence of influenza worldwide will be the major driving force behind the growth of this market.
According to the World Health Organization (WHO), around 3 to 5 million cases of influenza-based diseases are reported annually across the globe. This has spurred governments to take proactive measures to contain the spread of this deadly disease. Many governments carry out extensive vaccination drives before the flu season begins to immunize people from contracting any such infections, bolstering the seasonal influenza vaccines market demand.
In addition to market value, the report provides the following:
- An exhaustive research into the different segments to comprehensively understand the market;
- A careful study of the industry trends that will shape the size, share, and overall growth of the market; and
- A detailed assessment of the various factors, future prospects, and regional and competitive dynamics influencing the market.
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Initiation of Government-backed Immunization Programs to Foster Greater Demand
Governments all around the world are increasingly focusing on initiating large-scale immunization drives to tackle influenza and related diseases, which is benefiting the flu vaccine market. These initiatives are receiving active support from international organizations such as the WHO.
More importantly, these bodies are increasing their surveillance capacities to contain the spread of the disease and taking all measures necessary to prevent the outbreak of an epidemic. Many organizations, such as the Bill and Melinda Gates Foundation, Centers for Disease Control and Prevention (CDC), and WHO Global Influenza Surveillance and Response System (GISRS), are also facilitating research through increased funding for the development of up-to-date vaccines.
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North America to Occupy a Commanding Position; Asia-Pacific to Register Robust Growth
Having generated a revenue of USD 1.98 billion in 2018, North America is expected to dominate the influenza vaccines market share primarily owing to the utilization of advanced manufacturing systems and processes for vaccines. Besides this, rising incidence of influenza, well-funded vaccine research programs, and presence of big companies will further fuel the market in this region.
Asia-Pacific will boast the highest growth rate among regions on account of fast-increasing population along with active government support for healthcare research will raise the demand for effective vaccines in the region. Lastly, increasing immunization rate, coupled with high awareness regarding vaccination, will drive the market in Europe.
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Key Industry Developments:
- November 2019: Sanofi received clearance for its Fluzone® High-Dose Quadrivalent from the US Food and Drug Administration (FDA). Containing an additional Influenza B strain, the drug is designed and aimed at treating adults at and over the age of 65.
- January 2019: The European Commission green lit Seqirus’s FLUCELVAX® TETRA for marketing in Europe. This is a cell-based quadrivalent influenza vaccine, the first of its kind to be marketed in Europe, which is to be used on people aged 9 years and above.
Top Players Profiled in the Influenza Vaccines Market:
• AstraZeneca
• F. Hoffmann-La Roche Ltd
• Sanofi
• GlaxoSmithKline plc.
• Sinovac Biotech Ltd
• CSL Limited
• Emergent BioSolutions Inc.
• BioDiem
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Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launch
- Pipeline Analysis
- Prevalence of Influenza- For Key Countries, 2018
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
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SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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Germany Pneumococcal Vaccines Market Share & Industry Analysis, By Product Type (PCV10, PCV13, and PPSV23), By End User (Hospitals, Clinics, and Others) and Region Forecast, 2019-2026
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