Description

The Global Influenza Vaccine Market size was estimated at USD 5206.73 Mn in 2021, growing at a CAGR of 8.1% during the forecast period 2021-2027. Influenza is commonly known as “flu” or “seasonal flu” caused by influenza virus. The symptoms of influenza can be mild to severe ranging from fever to pneumonia. Influenza mainly affected by three type’s influenza virus, called type A, type B and type C. Influenza virus generally spread through the air by coughing and sneezing or touching contaminated surfaces by a virus. Influenza can be diagnosed by testing throat, sputum and nose. Numbers of rapid tests are available for detecting influenza virus. Influenza can be treated with antiviral drugs or prevented by administering influenza vaccine and several other fluid management methods. Influenza virus spreads around the world in yearly outbreaks that result in millions of severe illness and thousands of deaths across the world. WHO every year predicts few strains which are expected to circulate in following year, that allows pharmaceutical companies to develop influenza vaccine against these stains. Recommendation by WHO and U.S’s Centers for Disease Control and Prevention (CDC) for yearly vaccination in high-risk group patients, cost of effectiveness of seasonal influenza vaccine in different age groups and settings expected to drive the market for influenza vaccine over the forecast period. Moreover reduced healthcare burden due to influenza vaccination expected to propel the market for influenza vaccine. For instance, in 2015-2016 influenza seasons, CDC estimates that influenza vaccination prevented approximately 5.1 million influenza illnesses, 2.5 million influenza-associated medical visits, and 71,000 influenza-associated hospitalizations. However, Influenza vaccine made in a year may not be effective in following year owing to evolving nature of influenza virus, in healthy individual influenza vaccine is modestly effective, sometimes new strain or overlooked strain become prevalent in that season, and product recalls which may hamper the uptake and growth.

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