Dublin, July 27, 2021 (GLOBE NEWSWIRE) -- The "Global Influenza Vaccines Market, Persons Vaccinated, Impact of COVID-19, Company Analysis, Size, Share, Growth, Trends, Major Deals - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global influenza vaccines market is projected to exceed US$ 9.5 Billion mark by 2027, and is presenting ample opportunities to the industry's players. Influenza viruses are considered as a major cause of morbidity and mortality worldwide.
The vast population base together with significantly low vaccination coverage in emerging markets, introduction of new vaccines, rising government support for immunization and growing awareness of the value of influenza vaccine in preventing disease are the prominent factors that will drive the influenza vaccines market.
However, shortage of vaccine supply due to genetic assortment of the viral strains is surging the need for updating vaccines each year by the manufacturers. This is a major factor restraining market growth.
Impact of COVID19 on Global Influenza Vaccines Market
The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID-19 disease has infected more than 188,085,671 people worldwide (as of July 13, 2021).
Globally the death toll has surpassed 4,055,949, according to the latest statistics from the Worldometers (as of July 13, 2021). The number is still growing, and the duration of the pandemic is still difficult to predict. Because of the on-going COVID-19 pandemic, getting a flu vaccine will be more important than ever.
Flu vaccines will not prevent COVID-19, but they will reduce the burden of flu illnesses, hospitalizations and deaths on the health care system and conserve scarce medical resources for the care of people with COVID-19. Thus, the demand for influenza vaccines is anticipated to increase during the forecast timeframe.
Regional Analysis - Influenza Vaccines Market and Forecast
Geographically, North America is the largest market for influenza vaccines capturing over 52% market share in 2020.
Asia is the second largest market for influenza vaccines.
Europe is the third largest market for influenza vaccines, followed by Latin America.
Australasia accounted for least share of the influenza vaccines market in 2020.
Country Analysis - Influenza Vaccines Market and Forecast
On the basis of country, United States captures majority of the influenza vaccines market.
Japan is the second largest market for influenza vaccines.
China, Brazil, Canada and India are the third, fourth, fifth, and sixth leading market for influenza vaccines respectively.
Germany, Mexico, Italy, South Korea, UK, France, Spain and Australia are the other leading market for influenza vaccines.
Company Analysis - Global Influenza Vaccines Market
In 2020, GlaxoSmithKline plc influenza vaccines (Fluarix/FluLaval) sales were up 35% from previous year.
In May 2016, the cell-based Flucelvax quadrivalent shot was approved by the FDA.
For the 2020-21 flu season, AstraZeneca has increased production of vaccine doses by more than 150% over the previous season.
In February 2021, GlaxoSmithKline plc and Vir Biotechnology, Inc., signed a binding agreement to expand their existing collaboration to include the research and development of new therapies for influenza and other respiratory viruses.
In March 2021, Sanofi announced an investment of more than €600 Million in a new vaccine manufacturing facility at its existing site in Toronto, Canada.
In November 2020, Seqirus announced it plans to construct a new world-class biotech manufacturing facility in Australia to supply influenza vaccines to Australia and the rest of the world.
Key Topics Covered:
1. Executive Summary
2. Impact of COVID-19 on Global Influenza Vaccines Market
3. Global - Influenza Vaccines Market Analysis and Forecast (2011 - 2027)
3.1 Global - Influenza Vaccines Market and Forecast
3.2 Global - Number of Persons Vaccinated with Influenza Vaccines and Forecast
4. Global - Influenza Vaccines Market Share Analysis and Forecast (2011 - 2027)
4.1 Influenza Vaccines Market Share and Forecast - Region Wise Analysis
4.2 Influenza Vaccines Market Share and Forecast - Country Wise Analysis
4.3 Persons Being Vaccinated with Influenza Vaccines Share and Forecast - Region Wise Analysis
4.4 Persons Being Vaccinated with Influenza Vaccines Share and Forecast - Country Wise Analysis
5. Influenza Vaccines Market, Persons Vaccinated and Forecast - By Region (2011 - 2027)
6. Influenza Vaccines Market, Persons Vaccinated and Forecast - Country Wise Distribution (2011 - 2027)
7. Global Influenza Vaccines Market - Key Company Analysis
7.1 GlaxoSmithKline (GSK)
7.1.1 Business Overview
7.1.2 Influenza Vaccines Portfolio
7.1.3 Global Influenza Vaccines Sales and Forecast (2007 - 2027)
7.1.4 Promising Influenza Vaccines in the Clinical Development
7.1.5 Recent Developments
7.2 Sanofi Pasteur
7.3 Seqirus (CSL Limited)
7.4 Global - Influvac (Acquired by Abbott) Sales (2007 - 2009)
7.6 Gamma Vaccines Pty Ltd.
7.7 Hualan Biological Engineering Inc.
7.8 Mylan (Now Part of Viatris)
7.10 Shanghai Institute of Biological Products Co., Ltd.
8. Global Influenza Vaccines Market - Emerging Players Profile
8.1.1 Business Overview
8.1.2 Promising Influenza Vaccines in Clinical Development
8.1.3 Recent Developments
8.3 Moderna Inc
8.10 Versatope Therapeutics, Inc.
8.11 BiondVax Pharmaceuticals Ltd.
9. Influenza Vaccines Market - Major Deals
9.1 Mergers and Acquisitions
9.2 Licensing Agreements
9.3 Collaboration Agreements
10. Global Influenza Vaccines Market - Driving Factors
10.1 Transformation of Vaccine Technologies
10.2 Vaccines most Cost-Effective Means of Disease Prevention
10.3 Scientific & Technological Breakthroughs
10.4 Continuous Focus on Effective Communication Strategies
10.5 Rising incidence of pandemic events Increasing Awareness on Seasonal Influenza & Vaccination
11. Global Influenza Vaccines Market - Challenges
11.1 Complexity of Vaccine Development and Approval System Thwarts Product Development
11.1.1 Legal Obstacles
11.1.2 General Technical Barriers
11.1.3 Economic Barriers
11.1.4 Regulatory Barriers
11.2 Hurdles to Optimal use of Licensed Vaccines
11.2.1 Technical Obstacles
11.2.2 Economic obstacles
11.2.3 Cultural Obstacles
11.3 Barriers to New Entrants in the Vaccines Market
11.4 Reducing the Timeline for Vaccine Development
11.5 Challenges Faced by Healthcare Workers in Immunization
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