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Influenza Vaccines Market Growing Demand Stimulated by Higher Prevalence of Influenza Diseases

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Mia Yates
Influenza Vaccines Market Growing Demand Stimulated by Higher Prevalence of Influenza Diseases

Influenza vaccines are biological products designed to protect against seasonal influenza viruses. The primary target demographic for influenza vaccines include children between 6 months to 18 years old, adults above 50 years old, pregnant women and immunocompromised individuals who are at a higher risk of complications from influenza. Such vaccines help reduce influenza diseases and complications like hospitalizations and deaths associated with influenza. 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:

Growing prevalence of seasonal influenza diseases across the globe has significantly boosted the demand for effective influenza vaccines over the past few years. According to the World Health Organization (WHO), annual influenza epidemics are estimated to result in about 3 to 5 million cases of severe illness and 290,000 to 650,000 deaths worldwide. Furthermore, changes in the circulating influenza virus strains each season necessitate the development of updated annual or biennial formulations of influenza vaccines to ensure the best possible match between vaccine viruses and those in circulation. This has accelerated influenza vaccine development and manufacturing activities among major players. Additionally, increasing awareness regarding importance of seasonal flu vaccination for at risk population has stimulated the uptake of influenza vaccines.


Segment Analysis

The global Influenza Vaccines market is dominated by the quadrivalent vaccines sub-segment. These vaccines protect against four strains of influenza virus (two influenza A strains and two influenza B strains) as compared to trivalent vaccines that protect against three strains. Quadrivalent vaccines offer broader protection against influenza viruses and are able to target more strains circulating during any given flu season. This makes them more effective at preventing the flu than trivalent vaccines thereby driving their increased adoption among consumers.

Key Takeaways

The Global Influenza Vaccines Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis indicates that the North America region currently dominates the market due to high awareness levels and developed healthcare infrastructure in the region.

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 Therapeutix, Inc., EnColl Corporation, Kerecis limited, DSM, ACell Inc., 3M, Cell Constructs I, LLC, CG bio Inc., and Marine Polymer Technologies, Inc.

For More Insights, Read: https://www.newswirestats.com/influenza-vaccines-market-size-share-and-growth-forecast-2023-2030/

Related Reports: https://wotpost.com/glucose-guardian-pioneering-health-with-the-continuous-glucose-monitoring-devices/


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