Seasonal Influenza Vaccines Market Global Trend, Demand, Growth Analysis and Industry Forecast 2018-2026
Influenza
is contagious respiratory disease that is caused by influenza viruses
and can lead to hospitalization and even death in certain severe
cases. Influenza virus infect the respiratory tract (nose, throat,
and lungs) in humans. Seasonal influenza detected year-round and the
virus is most common during the influenza season especially in fall
and winter months. Moreover, the exact timing and duration of
influenza season varies, however influenza activity often begins in
winter months. At various geographical regions, influenza infection
exist at a low level throughout the year, however its shows seasonal
increase typically during the winter months. A seasonal influenza flu
vaccine aids in reducing the risk of getting infected with seasonal
flu and prevent its spreading throughout the year.
Some
of the key players in the seasonal influenza vaccines market includes
Sanofi S.A., CSL Limited, GlaxoSmithKline Plc., and Medimmune,
LLC. Key players in the market are involved in strategic mergers and
acquisitions, to cater to increasing demand for these vaccines. For
instance, in August 2017, Sanofi Pasteur acquired Protein Sciences
Corporation, thus adding Flublok products to its portfolio — the
only FDA approved recombinant protein-based influenza vaccine. With
the acquisition, Sanofi expanded its influenza vaccine portfolio and
its presence in the global vaccines market.
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Seasonal
Influenza Vaccines Market – Drivers
Increasing
incidence of seasonal influenza infection in various geographies is
expected to be a major driving factor for growth of global seasonal
influenza vaccines market. Rising pandemic events of influenza virus
and their severity attributed to the genetic diversity of influenza
virus is also another factor aiding in growth of the market.
According to the World Health Organization (WHO), 2015, around 233
million outpatient visits, 5.2 million hospital admissions, and 7.4
million deaths are expected if a pandemic case were to occur,
globally. Also, the Centers for Medicare & Medicaid Services
(CMS) provides reimbursement covering 100% of the costs of one
seasonal influenza virus vaccinations per influenza season, and it
also covers the seasonal influenza virus vaccinations. Thus,
favorable reimbursement is also expected to positively affect
adoption rates of seasonal influenza vaccines, thus propelling the
market growth.
Moreover,
influenza flu vaccination enables to reduce the risk of
flu-associated hospitalization among adult and pediatric patients.
For instance, according to the Centers for Disease Control and
Prevention, 2015, flu vaccinations prevented around 1.9 million flu
illnesses, 966,000 flu-associated medical visits, and around 67,000
flu-associated hospitalizations, representing 6.5% lowering of
disease burden in the U.S.
Seasonal
Influenza Vaccines Market – Taxonomy
By
Vaccine Type
By
Virus Type
By
Age Group
By
End User
Hospitals
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Influenza Vaccines Market
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