Influenza Vaccine Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Live, Attenuated, Recombinant), By Route of Administration (Intranasal, Injection), By Type (Monvalent, Trivalent, Quadrivalent), By Distribution Channel (Hospital and Retail Pharmacies, Government Agencies, Others) and Region

Influenza vaccine market size was valued at US$ 7.32 billion in 2023 and is poised to grow at a significant CAGR of 6.5% from 2024-2030. The market refers to the industry that encompasses the production, distribution, and sales of vaccines used for preventing influenza, commonly known as the flu. Influenza is a contagious respiratory illness caused by influenza viruses and can lead to severe complications and even death. Vaccination is a crucial preventive measure in reducing the incidence and severity of influenza infections. The market is diverse, with various players including pharmaceutical companies, biotechnology firms, and government agencies involved in its development and distribution. These entities collaborate to develop and manufacture different types of influenza vaccines, such as trivalent, quadrivalent, and high-dose vaccines, targeting specific strains of the virus.

Increased emphasis on improving the effectiveness and coverage of influenza vaccines, especially for high-risk populations like the elderly and individuals with chronic illnesses. This has led to the development of more advanced vaccine technologies and formulations. Additionally, technological advancements in vaccine delivery, such as the development of intranasal and microneedle-based vaccines, are gaining attention for their potential to enhance vaccine coverage and ease of administration. The global market dynamics are driven by the need to prevent and control influenza infections. It is characterized by diverse players, ongoing technological advancements, and increasing demand for improved vaccine effectiveness and coverage. The market is expected to continue evolving to address emerging challenges and provide better protection against influenza viruses.

Key Developments:

• In February 2023, Sanofi Pasteur and GlaxoSmithKline (GSK) announced a collaboration to develop and commercialize an influenza vaccine that combines their respective quadrivalent live attenuated influenza vaccine (LAIV) platforms. The new vaccine is expected to be available in the United States in the 2023-2024 influenza season.
• In January 2023, Seqirus and the Bill & Melinda Gates Foundation announced a collaboration to develop and deliver influenza vaccines to children in low- and middle-income countries. The collaboration will focus on developing new and improved influenza vaccines that are more affordable and accessible for children in these countries.