In association with other governments, the World Health Organization constantly monitors the demand and conducts immunization programs globally to minimize the vaccine's unmet need. ![]() Monitoring vaccine delivery, distribution, and availability requires national and international surveillance. Rising Adoption of Influenza Vaccines Due to Increasing Government Support for ImmunizationĮxpanding government support and focus on influenza vaccination is one of the essential factors influencing the global market. Such initiatives are anticipated to surge the demand for these vaccines resulting in robust market growth during the forecast period. Under the program, children aged 6-23 months were immunized for free. For instance, in collaboration with the Washington State University Global Health Program in March 2021, the Kenya Ministry of Health’s National Vaccines Immunization Program initiated a vaccination drive in Mombasa and Nakuru counties of Kenya. Nowadays, greater awareness among the population with respect to infectious diseases has led to the implementation of vaccines through immunization programs for the prevention of conditions in developing and low income countries.ĭeveloping countries have revised their immunization programs and included compulsory vaccination in the annual program for all age groups. Growing prevalence of influenza worldwide has led to the implementation of different strategies by various governments to boost the uptake of vaccines in their respective countries. Inclusion of Advanced and Effective Vaccines in Immunization Programs Request a Free sample to learn more about this report. All these factors were responsible for the influenza vaccine market growth during post pandemic. Also, the major players in the market reported an increase in their revenues attributed to the increase in sales of vaccines during 2021. The development of a combination vaccine for COVID-19 and influenza virus would help reduce time and manufacturing cost, thus ramping up production.įor instance, in May 2021, Duke University researchers developed an mRNA-based COVID-19 and flu combination vaccine to protect an individual against both viruses simultaneously. However, due to the coronavirus pandemic, the increasing focus on developing combination vaccines, mRNA vaccines, and others is offering various opportunities in the market. Further, Australia’s Therapeutic Goods Administration (TGA) processed around 19.0 million vaccine doses in 2020, an increase of almost 5.0 million compared to 2019. Additionally, growing awareness among the public about the higher risk of getting infected with COVID-19 if the flu weakens the immune system is another factor contributing to the uptake of vaccines.Īccording to data published by the American Medical Association (AMA) in 2021, around 9.0% increase has been observed in influenza vaccinations during the COVID-19 pandemic in New York and other 10 states in the U.S. However, factors including pressure from health departments and the expansion of government programs offering free doses increased the vaccination rate during the pandemic. The worldwide routine immunization programs and campaigns carried out in developing and developed countries are impacted by the coronavirus pandemic. Industry Growth Favored by the Increasing Uptake of Vaccines amid COVID-19 Crisis Therefore, the rising demand for influenza vaccine is anticipated to drive the market. Moreover, pharmaceutical companies are continually facing new challenges in developing a suitable vaccine against a particular strain. Further, government agencies are advising people to get vaccinated early to provide maximum protection during the flu season. There are numerous licensed seasonal influenza vaccines recommended by the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO), and other governmental organizations to help fight the disease in the current market scenario. The increasing prevalence of seasonal outbreaks and epidemics is projected to drive the product sales during the forecast period. ![]() According to data published by the World Health Organization (WHO) in 2022, around 3.0 to 5.0 million severe influenza cases were recorded, leading to 650,000 deaths across the globe. The global influenza vaccine market size was valued at USD 7.47 billion in 2022 and the market is projected to grow from USD 7.97 billion in 2023 to USD 14.35 billion by 2030, exhibiting a CAGR of 8.8% during the forecast period.Įvery year, regional epidemics and outbreaks that result in thousands of deaths are caused by influenza viruses.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |