Global Seasonal Influenza Vaccine Market: Overview
Seasonal influenza is a respiratory tract infection that is caused by seasonal influenza viruses. It is a contagious infection and can be transmitted through direct contact with the patient or some form of indirect contact. It is mainly caused by seasonal influenza viruses such as influenza A virus, influenza B virus, and influenza C virus. Influenza C virus infections are mild and very rare. The symptoms of seasonal influenza include sudden onset of fever, joint pain, headache, and sore throat. Diagnostic tests for seasonal influenza include reverse transcription polymerase chain reaction (RT-PCR), enzyme-linked immunoassay, immunofluorescence, and virus culture. The most effective way to prevent seasonal influenza is vaccination.
Global Seasonal Influenza Vaccine Market: Trends and Opportunities
Rise in the prevalence of influenza globally, increase in awareness about influenza, improved health care infrastructure, increased R&D spending, seasonal outbreak of pandemics, technological advancements, increased investment by major players for the development of vaccines, rich product pipeline, an increase in government initiatives are the major drivers of the global seasonal influenza vaccine market. However, a stringent regulatory framework acts as a major restraint of the global market.
Global Seasonal Influenza Vaccine Market: Segmentation
The global seasonal influenza vaccine market can be segmented based on the vaccine, virus, age group, distribution channel, and region. In terms of the vaccine, the global market can be classified into quadrivalent, trivalent, and high-dose. The quadrivalent segment dominated the market in 2017, and the trend is projected to continue during the forecast period. Expansion of the segment is attributed to the fact that quadrivalent vaccines are suitable for the age group of two and above. Based on the virus, the global seasonal influenza vaccine market can be classified into type A (H1N1), type A (H3N2), and type B. The type A (H1N1) segment dominated the market in 2017 and is expected to continue its dominance during the forecast period. This is due to the fact that only type A viruses can cause an epidemic. For instance, type A (H1N1) virus caused a pandemic in 2009. In terms of age group, the market can be divided into pediatrics and adults. The pediatrics segment dominated the market in 2017 due to the high prevalence and incidence rate of influenza among children. The segment is likely to maintain its market share during the forecast period. Based on the distribution channel, the global seasonal influenza vaccine market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market, due to a high preference for this channel of distribution. The segment is projected to maintain its leadership position from 2018 to 2026.
Global Seasonal Influenza Vaccine Market: Regional Analysis
In terms of region, the global seasonal influenza vaccine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global seasonal influenza vaccine market in 2017, It is projected to constitute a significant market share during the forecast period. The market in the region is anticipated to expand at a rapid pace due to improved health care infrastructure, high awareness regarding influenza viruses, and increased R&D spending in the region. According to WHO estimates, annual epidemics of seasonal influenza result in approximately 3 to 5 million cases of severe illness and 2,90,000 to 6,50,000 deaths due to respiratory failure. The market in the Asia Pacific is anticipated to expand at a high CAGR in the next few years, due to a rise in awareness regarding influenza and improvement in health care infrastructure in developing countries.
Global Seasonal Influenza Vaccine Market: Companies Mentioned
Major players operating in the global seasonal influenza vaccine market include GlaxoSmithKline plc, Sanofi, Sinovac Biotech Ltd., Abbott, Novartis AG, Changsheng Bio-Technology Co., Ltd., Folia Biotech Inc., and hissen.com.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.