Influenza Vaccine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Influenza is a viral infection of the respiratory system and is majorly responsible for seasonal flu epidemics each year. Influenza is usually characterized by symptoms such as muscle aches, runny nose, headache, cough, congestion, fever, and fatigue. There are four types of influenza viruses which include type A, B, C, and D. The type influenza A and influenza B are usually referred to as human influenza viruses. Type A viruses are further segregated into two subtypes based on the differences in their viral surface proteins called hemagglutinin (H) and neuraminidase (N).
The global influenza vaccine market features a fragmented landscape owing to the strong presence of several key players in the market. These leading companies in the global market are constantly focusing on manufacturing technologically advanced products that will enhance efficiency. Naturally, the competition on the basis of pricing in the market quite high and is working in favor of the development of the global market. The existing market players are deploying various strategies and advanced techniques to thrive in the global market.
Some of the leading companies in the global influenza vaccine market include names such as Sinovac Biotech Ltd, Sanofi Pasteur SA, Novartis AG, Pfizer, Inc., Merck & Co., Inc. (Merck Sharp & Dohme Corp.), GlaxoSmithKline Plc., Gamma Vaccines Pty Ltd., Emergent BioSolutions, F. Hoffmann-La Roche Ltd, CSL Limited, Biodiem, and AstraZeneca Plc. among others.
Influenza is a contagious infection and is transmissible through the sneezing and coughing of an infected person. Vaccination serves as an effective method for the prevention of influenza which is propelling the demand of the global influenza vaccine market. Additionally, the availability of several influenza vaccines that have been prequalified by the WHO for purchase by the UN Agencies is boosting the advancement of the global market. Factors such as the development of new vaccines, advancements in existing vaccines, minimal side effects, funding and investments by companies in R&D activities, and a rise in the government initiatives to ensure well-being of population are also contributing to the growth of this market. An increase in routine immunization programs in the developed, as well as developing countries, is anticipated to drive the global influenza vaccine market towards progressive and lucrative opportunities.
The global influenza vaccine market has five main regions that provide the reader with the intricate details of the working dynamics of the regional landscape. These regions are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, currently, the global automated fare collection system market is growing remarkably owing to the substantial contribution of the regional segment of North America. Several factors such as the focus of the government on immunization programs, advancements in vaccine administration, the emergence of new vaccines, and the prevalence of influenza in the region are boosting the development of the global influenza vaccine market.
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