Flu Vaccine Market growing at a CAGR of 6.7% to Reach an Estimate of US$ 11,181.3 million by 2034: Fact.MR. Report
Businesses Benefit from Collaborations and Immunization Campaigns Run by Governments
Rockville , Jan. 11, 2024 (GLOBE NEWSWIRE) -- The flu vaccine market has been witnessing a steady and consistent upward trend, with an estimated valuation of *US$ 5,831.7 million* in 2024. The demand is likely to rise at a CAGR of *6.7%* from 2024 to 2034, ultimately reaching a value of more than *US$ 11,181.3 million* by 2034. The rise is due to the government's numerous campaigns to promote flu vaccination and the few side effects of the vaccine.As more people realize how important it is to take precautionary measures to protect themselves from influenza, it is projected that demand for the product will rise dramatically. The market for flu vaccines is expected to grow during the upcoming years as healthcare professionals continue to emphasize the advantages of immunization and raise public awareness. An efficient vaccination is required due to the influenza epidemic's quick spread worldwide.
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Strong vaccination recommendations and increased seasonal flu infections are predicted to increase vaccine sales. Government assistance and surveillance at both the national and international levels are propelling market expansion to monitor vaccine distribution, supply, and administration, helping the overall development of the vaccine industry.
The flu vaccine market is expected to proliferate throughout the projection period, driven primarily by a robust product pipeline. Over the next decade, the business is anticipated to increase gradually as more effective and unique vaccines are developed and made available. This should significantly increase the opportunities for established corporations and new ventures to profit from the growing demand for influenza vaccines.
*Report Attribute* *Details*
Value Projection (2034) US$ 11,181.3 million
Growth Rate (2024-2034) 6.7% CAGR
No. of pages 170 Pages
No. of Tables 64 Tables
No. of Figures 192 Figures
*“The geriatric population, rising flu rates, rising public awareness, and government programs are all predicted to fuel growth in the worldwide market for influenza vaccines. Governments and industry participants are working together to boost the market's growth. Critical stakeholders are primarily focused on developing innovative vaccines; nevertheless, progress may be impeded by volatile raw material prices, high costs, and a lack of awareness in developing countries,”* says a Fact.MR analyst.
*Key Companies Profiled in This Report*
· Sanofi Pasteur Inc.
· AstraZeneca
· Csl Ltd.
· Abbott
· GlaxoSmithKline Plc.
· Serum Institute Of India Pvt.Ltd
· Seqirus
· AstraZeneca
· FluGen, Inc.
· Moderna, Inc.
· Biocryst Pharmaceuticals, Inc.
· CPL Biologicals Pvt. Ltd.
· CureVac AG
· OSIVAX
· Solaris Vaccines*Key Takeaways from the Market Study*
· The global flu vaccine market is expected to grow at a 6.7% CAGR through 2034.
· With a phenomenal CAGR of 6.8% through 2034, the market for flu vaccines in North America is predicted to expand.
· The industry for treating influenza in East Asia is projected to grow at a CAGR of 7.4% until 2034.
· In 2024, the United States flu vaccine market will command 95.0% of the market.
· Japan is expected to have 53.1% of the worldwide market by 2024 for influenza vaccines.*Rising Demand for Influenza Vaccinations Commands the Global Healthcare Industry *
Market participants in the healthcare sector are aggressively investing in research and development to improve their product options for the treatment of influenza. By launching new goods, signing contracts, pursuing mergers and acquisitions, raising capital, and encouraging cooperation, these businesses are also proactively extending their worldwide reach.
Companies are focusing on providing products at fair prices to remain in the fiercely competitive flu vaccine business. Getting FDA authorization and establishing regional distribution agreements are critical for these companies to grow their industry share and profitability. Businesses also employ local production to reach new markets, increase customer satisfaction, and reduce operating expenses.
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*Country-wise Insights*
*Why is the United States Dominating the Global Flu Vaccine Market?*
*“Advanced Government Healthcare Initiatives in the United States”*
The US market for influenza-related treatments is predicted to reach US$ 3,508 million in 2024, indicating a significant growth in demand. Furthermore, the predicted CAGR of 6.8% for the projected time is also encouraging. By 2034, this expansion is anticipated to provide a market value of US$ 6,787 million.
Numerous government initiatives and programmes are giving the sector a big boost. The combined research and development initiatives of numerous important US agencies, including as the Department of Health and Human Services, BARDA, NIH, CDC, and FDA, have played a significant role in this trend. Numerous organisations are working together to develop more potent and effective vaccinations in an effort to lessen the impact of influenza on public health problems. Additionally, the advisory council supports vaccination as a critical strategy to halt the flu's spread and mitigate its effects on individuals and communities. Through funding research and advocating for universal vaccination, these organisations help to create a population that is healthier and more robust both today and in the future.
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*About Fact.MR**:*
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