The global influenza vaccine market to grow at a CAGR of 7.23% during the period 2018-2022.
Global Influenza Vaccine Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of influenza vaccine.
The market encompasses both live attenuated as well as recombinant influenza vaccines for the prevention of influenza. The major factors that lead to the market growth include the need for annual vaccination and government initiatives to improve awareness about vaccination.
The latest trend gaining momentum in the market is development of strong pipeline. The increasing R&D programs is significantly influencing the growth of the pipeline molecule count in the influenza market. Universal influenza vaccine initiative (UIVI) is a program conducted to combat the challenges in developing a vaccine that broadly protects against all types of influenza viruses.
Furthermore, the number of clinical trials for developing a vaccvine for treating influenza is steadily increasing. The launch of all molecules in phase III will generate significant revenue on completion of the clinical trials.
According to the report, one of the major drivers for this market is rising awareness about influenza vaccination. With the growing support of both government and non-government bodies, the awareness about influenza virus is rising across the globe. Both the government and non-government organizations are taking adequate initiatives to prevent diseases.
To educate people about the influenza virus and the importance of influenza vaccination, CDC conducts national vaccination week. WHO has developed generic campaign materials to support the campaign. Such initiatives will help people gain more knowledge about the preventive measures available against influenza, in turn, driving the demand for these vaccines.