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The seasonal influenza vaccines market has been forecast to increase at a compound annual growth rate (CAGR) of 3.9% over the next six years, increasing from a value of $2.9 billion in 2011, to be worth a market value of $3.8 billion by 2018.
Key factors set to influence growth within the seasonal influenza vaccines market include the growing awareness of amongst the population, increasing vaccination coverage and rising government support for immunization against seasonal influenza.
Acute viral respiratory infection influenza, or flu, strikes every winter, and several nations are preparing to tackle this illness through dedicated healthcare schemes. Patients normally recover within a week or two from the associated fevers, sore throats, coughs, headaches and fatigue, but vulnerable individuals can develop the more severe disease pneumonia, which can cause severe illness and even death.
Both cases prove a serious public health problem that creates a huge social and economic burden for national healthcare systems, and affects the wider economy as a result of time taken off work.
However, safe and effective vaccines have been available for decades, and the 2009 H1N1 influenza pandemic increased public awareness of the disease, increasing demand for vaccines throughout the US, the UK, France, Italy, Spain, Germany and Japan.
The vaccinated population in the top seven countries accounted for 28.9% of the overall population in 2011, with the highest overall vaccination coverage rate (40.9%) seen in the US and the lowest (18.1%) in Italy. The vaccinated population in the top seven countries is forecast to increase to 32.9% in 2018.
The US seasonal influenza vaccine market is the most attractive in terms of value. It is forecast to increase from $1.6 billion in 2011 to $2.2 billion in 2018 at a CAGR of 4.8%, due to the growth of the aging population, higher disease awareness and the fact that being vaccinated has become more convenient. The UK, on the other hand has, the most attractive market in terms of growth rate, forecast to grow at a CAGR of 6.3% between 2011 and 2018.
Key companies that currently offer seasonal influenza vaccines include Sanofi, Johnson & Johnson, GlaxoSmithKline Biologicals, Novartis Vaccines and AstraZeneca.
For more information on the seasonal influenza vaccines market, see the latest research: Seasonal Influenza Vaccines Market
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