Persistence Market Research’s latest research report on ‘Rapid Increase in End-use Adoption to Flu Vaccines Market’ delivers a comprehensive outlook on the current market trends. The outcome also includes revenue forecasts, statistics, market valuations which illustrates the growth trends and competitive landscape as well as the key players in the business.
Flu is respiratory infectious disease caused due to influenza virus which often spread from one person to other through cough, sneezing, etc. Person who have not received flu vaccines are at greater risk of infection. Flu is common in temperate regions, countries which fall in temperate region are India, China, African countries, Australia, European countries, etc. In United States around 200,000 visits to healthcare setting are for the treatment of the flu and around 36,000 people die of the disease each year. The symptoms of the flu are often confused with common cold and hence diagnosis delays leading to sever outcomes. Flu is commonly seen in people who are more prone to get infected such as children, pregnant women and people above age of 65 years due to less immunity. As per WHO (World Health Organization) over 1 billion cases of flu are reported, of which around 3 to 5 million are chronic cases which require hospitalization and mortality due to flu is around 290,000 to 650,000 each year.
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The global flu vaccines market is expected to be driven by increasing incidence of the flu in developing as well as developed countries. Globally increasing precautionary measures for the prevention of the flu further expected to drive the growth of flu vaccines market. Increasing awareness among general population due to increased participation of governmental as well as non-governmental organizations further expected to drive the growth of flu vaccines market. Increasing measures by WHO to develop the strategic plan to tackle with increasing incidence of flu further expected to fuel the growth of flu vaccines market. In May, 2019 WHO launched new strategy for the prevention, treatment and awareness about the flu which in turn expected to drive the growth of flu vaccines market across the world. Various pharmaceutical manufacturers are looking for the development of different drugs which can treat of prevent flu and looking for launch of their product into the flu vaccines market. For example, In October FDA approved new drug for prevention and treatment of flu named Xofluza (baloxavir marboxil) which is expected to drive the growth of flu vaccines market. The focus of various healthcare providers to prevent the infection of flu rather than treating it expected to increase the traction for flu vaccines in the market. Whereas, limited awareness about flu in developing and underdeveloped countries may hamper the growth of flu vaccines market.
The global flu vaccines market is segmented on the basis of flu vaccines type, distribution channel and region.
By vaccines type, the global flu vaccines market is segmented as:
- Inactivated influenza vaccines (IIV)
- Live attenuated influenza vaccines (LAIV)
By distribution channel, the global flu vaccines market is segmented as:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
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The global flu vaccines market is expected to witness significant growth due to increasing vaccination across the world as preventive measure. By vaccines type, global flu vaccines market is expected to be dominated by inactivated influenza vaccines (IIV) due to higher adoption among the patients and healthcare professionals for the prevention of flu. By distribution channel, the global flu vaccines market is expected to be dominated by hospital pharmacies owing to higher patient footfall for the vaccination. The manufacturers in flu vaccines market are looking to improve their geographical product footprint and collaboration with various governmental organizations as well as regional flu vaccines market players.
North America is expected to be the most lucrative region in global flu vaccines market owing to high vaccination rate in the region. Europe flu vaccines market is expected to be the second most lucrative region owing to higher incidence of the flu in the region. Latin America flu vaccines market is expected to witness steady growth over the forecast period owing gradually increasing product availability. Asia –Pacific is expected to be the fastest growing region in global flu vaccines market whereas MEA flu vaccines market is expected to be the least lucrative region.
The key participants operating in the global flu vaccines market are: Bionic Pharmaceuticals, Merck & Co., Teva Pharmaceuticals, Mylan NV, Cipla, Pfizer Inc., And others.