July 27, 2022 08:33 ET | Source: The Insight Partners The Insight Partners

New York, July 27, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Influenza Vaccines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Vaccine Type, Virus Type, Technology, Route of Administration, and Geography," increased government support to promote influenza vaccination and a rise in investment by top market players and governments worldwide are driving the market. However, the high cost of vaccine development is hampering the market's growth.

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Influenza Vaccines Market Report Scope & Strategic Insights:

Influenza Vaccines Market: Competition Landscape and Key Developments

Moderna, Inc.; SEQIRUS; Sanofi; GlaxoSmithKline plc; Hualan Biological Engineering Inc.; Emergent BioSolutions Inc.; Mitsubishi Chemical Group Corporation; Serum Institute of India Pvt. Ltd; Mylan N. V.; and AstraZeneca are the key companies operating in the influenza vaccines market. The companies are taking up product innovation strategies to meet the evolving customer demands globally, allowing them to maintain their brand name in the global influenza vaccines market.

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The influenza virus causes flu, a contagious respiratory illness that infects the nose, throat, and lungs. It can be mild or severe and sometimes may lead to death. Flu vaccination every year can help in preventing flu. However, this can be deadly, especially in high-risk groups. The aged population, pregnant women, and people with one or more chronic diseases or weak immune systems are at high risk. Influenza vaccines/flu shots protect against the 4 influenza virus subtypes that are most common. Most influenza vaccines are “flu shots” given with a needle, usually in the arm, but nasal spray flu vaccines are also available.

Increase in Government Support to Promote Influenza Vaccination to Drive Influenza Vaccines Market

The governing bodies of various states and countries are supporting the promotion of vaccination through multiple activities and programs. For instance, the National Immunization Program (NIP) gives the Australian government a free seasonal influenza vaccine to those at risk of influenza-related complications. By 2022, enough vaccines would be secured to cover all risk groups eligible for a government-funded flu vaccine through the NIP.

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Below are a few more instances supporting the government support for influenza vaccination:

Thus, increasing government support to promote vaccination worldwide is driving the influenza vaccine market.

The influenza vaccines market includes many small and big companies. Market players are adopting various strategies to increase their market shares; these include new product launches, regional expansion, and technological advancements.

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A few of the recent developments in the influenza vaccines market are mentioned below:

Influenza Vaccines Market: Segmental Overview

Based on vaccine type, the global influenza vaccines market is segmented into quadrivalent vaccines and trivalent vaccines. The quadrivalent segment held a larger share of the market in 2021. The same segment is expected to grow faster over the forecast period. The increasing product approvals and rising product launches for market expansion are among the primary drivers of the quadrivalent vaccine segment growth.

Based on virus type, the global influenza vaccines market is segmented into influenza virus type A and influenza virus type B. The influenza virus type A segment held a larger market share in 2021. The same is expected to grow faster over the forecast period due to the increasing prevalence of influenza type A. The market growth of the influenza virus type A segment is attributed to it being the most common form of influenza.

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