Newark, New Castle, USA, March 13, 2023 (GLOBE NEWSWIRE) — The global Influenza and COVID -19 vaccine market will be valued at 278.5 billion in 2030; the spike in cases of COVID pandemic and influenza primarily supports the market potential, states Growth Plus Reports.
As the cases of infectious diseases such as influenza and COVID-19 become more common, there is an increased demand for COVID and influenza vaccines in the global market. Influenza and COVID markets have been expanding due to increased consumer awareness of immunization to avoid spreading diseases. Additionally, the market for COVID and influenza vaccines is expanding as more effective vaccines are introduced. Moreover, rising government spending on vaccine research and development, and growing public support for vaccination campaigns. Additionally, it is anticipated that utilizing innovative delivery methods and the growing emphasis on preventative healthcare would further stimulate global influenza and COVID-19 vaccine market.
The global influenza and COVID-19 vaccine market have been analyzed from four perspectives Type, Age group, Distribution, and Region.
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Influenza and COVID-19 Vaccine Market Scope
|Market size value in 2021||US$ 108 billion|
|Revenue forecast in 2030||US$ 278.5 billion|
|Growth Rate||CAGR of 11.10% from 2022 to 2030|
|Base year for estimation||2021|
|Segments covered||Type, Age group, Distribution Channel and Region|
|Regional scope||North America, Europe, Asia Pacific, and the Rest of the World (ROW)|
Excerpts from ‘by Type’
According to type, the global influenza and COVID-19 vaccine market are bifurcated into:
The influenza segment dominated the global market in 2021 with the largest share. In recent years, the prevalence of influenza infections has been increasing due to the emergence of new variants and the spread of existing ones. Influenza vaccines have been shown to reduce the risk of influenza infections and the severity of the disease. Increasing awareness of the prevention of disease and initiatives by various public and private organizations can be attributed for the growth of the segment in the market.
Excerpts from ‘by Age’
The global influenza and COVID-19 vaccine market is grouped into:
The pediatric group has dominated global influenza and COVID-19 vaccine market. This is attributed to low immunity in pediatric patients.
The adult segment is expected to rise in the coming years. Influenza and COVID can worsen the situation to death in adults older than 65. Generally, older people have low immunity, leading to more respiratory infections.
Excerpts from ‘by Distribution Channel’
The global influenza and COVID-19 vaccine market based on distribution channels is segmented into:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Hospital pharmacy segment dominated the global market. Hospital pharmacy is the field that works to consistently uphold and enhance patient pharmaceutical care and medication management to the highest standards possible in a hospital setting. Hospital pharmacy offers a secure location to store and distribute vaccines and also offers faster access to the required medical personnel in the event of any unexpected side effects or negative responses.
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Excerpts from ‘By Region’
Geographically, the global Influenza and COVID-19 vaccine market based on region is segmented into:
- North America
- Asia Pacific
- Rest of the World
North America dominates the market with the largest share. Influenza and COVID-19 vaccine are becoming increasingly important in North America as the number of cases associated with these diseases continues to rise. Easy accessibility of influenza and COVID-19 vaccines in the region is also influencing the market in North America.
The European region is characterized by factors such as a dramatic rise in the number of people receiving vaccines. This is largely due to increased awareness and access to vaccines, improved public health measures, and increased funding for vaccination programs.
Asia Pacific region is anticipated to show lucrative growth in the coming years. This is primarily due to a spike in influenza and COVID-19 cases. Moreover, government bodies across many countries support R&D activities to develop innovative vaccines in the Asia Pacific. For instance, in January 2023, the Indian government approved its first nasal COVID vaccine iNCOVACC manufactured by Bharat Biotech. This vaccine can be used as a heterologous booster dose for people who received the first two doses. Similarly, China approved an inhaled COVID vaccination, delivered in the form of a spray, in September 2022. Usage of Nasal vaccines, according to researchers, may provide additional immunity in the lining of the nose and upper airways, where Covid normally enters the body.
Excerpts from ‘Competitive Landscape’
Some prominent players operating in the global Influenza and COVID-19 vaccine market are:
- GlaxoSmithKline plc
- Pfizer Inc.
- Merck & Co., Inc.
- Sanofi S.A.
- AstraZeneca plc
- Johnson & Johnson
- Novartis AG
- Novavax, Inc.
- Abbott Laboratories
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- GLOBAL INFLUENZA AND COVID-19 VACCINE MARKET- ANALYSIS & FORECAST, BY TYPE
- GLOBAL INFLUENZA AND COVID-19 VACCINE MARKET- ANALYSIS & FORECAST, BY AGE GROUP
- GLOBAL INFLUENZA AND COVID-19 VACCINE MARKET- ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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