by Influenza vaccines help boost immunity against seasonal influenza viruses. Commonly used vaccines include attenuated influenza vaccines, recombinant vaccines, and adjuvanated vaccines. The annual production of influenza vaccines requires effective production processes to fulfill the global demand in a timely manner. Advancing production techniques through new technologies can help streamline manufacturing workflows and maximize yields. The global Influenza Vaccines Market is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected to exhibit a CAGR of 33% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expanding use of cell-based and recombinant production technologies is one of the key trends driving the influenza vaccines market Traditional egg-based production methods can face constraints in rapidly scaling up supply during pandemic outbreaks. Cell-based and recombinant technologies offer faster production timelines through their serum-free and animal component-free workflows. Leading vaccine manufacturers are increasingly adopting novel platform technologies to develop cell-culture and recombinant protein-based influenza vaccines with improved scalability. This shift towards advanced production approaches is expected to enhance global preparedness against influenza in the long run.
SWOT Analysis
Strength: Influenza vaccines help prevent flu illness in millions of people each year and reduce flu-related complications that can result in hospitalization or even death. Weekly global monitoring of influenza viruses allows WHO to recommend new vaccine strains every year.
Weakness: Annual vaccination is required due to antigenic drift of influenza viruses which can reduce vaccine effectiveness over time. Vaccine efficacy is based on predicting the major circulating strains in advance and the production process time limits matching the actual strains circulating during the flu season.
Opportunity: The influenza vaccines market is expected to grow significantly due to increasing public awareness about vaccination and increasing immunization programs by governments and international health organizations. The introduction of newer technologies for vaccine development also presents opportunities for growth.
Threats: Outbreaks of more severe influenza viruses such as pandemic strains pose the threat of reducing vaccine effectiveness. Cost pressures faced by healthcare systems also impact vaccine pricing and reimbursements.
Key Takeaways
The Global Influenza Vaccines Market Size is expected to witness high growth at a CAGR of 33% during the forecast period of 2023-2030.
Regional analysis: North America currently dominates the global market due to higher awareness levels and well-established healthcare systems in countries like the US and Canada. Asia Pacific is expected to grow at the fastest pace during the forecast period due to improving healthcare infrastructure and emerging economies with large population bases in countries like India and China investing more in immunization programs.
Key players: Key players operating in the influenza vaccines market are Integra LifeSciences Corporation, AbbVie Inc., Johnson & Johnson, HansBioMed, Becton, Dickinson and Company, Cook Group, Smith & Nephew Plc., Reprise Biomedical, Organogenesis Holdings Inc., Tissue Regenix, LifeNet Health, Zimmer Biomet Holdings, Inc., Stryker Corporation, MiMedx Group, PolyNovo Limited, Fidia Pharma USA Inc., Baxter International Inc., In2Bones Global, BioHorizons, Inc., Harbor MedTech, Inc., MLM Biologics Inc., Geistlich Pharma AG, Olaregen Therapeutics, Inc., EnColl Corporation, Kerecis limited, DSM, ACell Inc., 3M, Cell Constructs I, LLC, CG bio Inc., and Marine Polymer Technologies, Inc. The market is competitive with these players focusing on new product launches, collaborations and geographical expansion to gain market share.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
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