INFLUENZA VACCINES MARKET ANALYSIS

Influenza Vaccines Market Size and Trends

The influenza vaccines market is estimated to be valued at USD 8.30 Bn in 2024 and is expected to reach USD 13.43 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.

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Influenza is a contagious respiratory infection caused due to influenza virus. Influenza is marked by fever, cough, muscles and joint pain, headache, and severe weakness. Illness due to influenza ranges from mild to severe, occasionally leading to death. Vaccines are recommended for the prevention of influenza infections. Influenza vaccine can be inactivated influenza vaccine, adjuvant inactivated influenza vaccine, live attenuated influenza vaccine or recombinant influenza vaccine. The rapid spread of influenza virus epidemics worldwide is propelling demands for the development of efficient influenza vaccine. Strong product pipeline is the key factor driving growth of the market during the forecast period.

Increasing clinical trials for new product development

Increasing clinical trials for new product development by market players is expected to drive the global influenza vaccines market growth over the forecast period. For instance, on May 25, 2022, Osivax, a biopharmaceutical company developing vaccines against highly mutating infectious viruses and diseases, announced an update on the clinical development plan of its lead candidate, OVX836. It is Osivax’ T-cell based influenza candidate, developed using the company’s proprietary oligoDOM nanoparticle technology platform and designed to produce immune responses against the nucleoprotein (NP), a highly conserved internal antigen across flu strains. Based on positive safety data from the ongoing Phase 2a trial, the company has initiated two additional Phase 2 clinical trials, a dose-escalation study in elderly subjects and a combination trial with a seasonal Quadrivalent influenza vaccine (QIV), to broaden the scope of OVX836’s application in an effort to provide improved protection against influenza across strains.

Increasing awareness by government authorities for influenza vaccine is expected to drive the global influenza vaccines market growth over the forecast period. For instance, on October 8, 2021, the U.K. Government started new campaign supported by charities and healthcare organizations to encourage those eligible to get vital protection with a free flu vaccine and COVID-19 booster vaccine ahead of winter. This campaign by the government has launched the flu program for 2021 to 2022 and the COVID-19 booster campaign to protect as many lives as possible.