U.S. Influenza Vaccines Market to Surpass US$ 8.0 Billion Threshold by 2025 Owing to Rise in Pandemic Preparedness
SEATTLE, WASHINGTON, UNITED STATES, December 27, 2017 /EINPresswire.com
/ -- The U.S. influenza vaccines market
, by Vaccine Type (Trivalent Vaccines and Quadrivalent Vaccines), by Virus Type (Influenza Virus Type A and Influenza Virus Type B) and by Age Group (Pediatrics and Adults) was valued at US$ 1.6 billion in 2016 and is projected to exhibit a CAGR of 15.9% over the forecast period (20172025), as highlighted in a new report published by Coherent Market Insights. The U.S. influenza vaccines market is expected to gain significant traction owing to easy availability of different vaccines, which include adjuvanted inactivated vaccines, live-attenuated vaccines, seasonal influenza vaccines, and pandemic influenza vaccines. The transition from trivalent to quadrivalent vaccine formulations due to extensive research and development, to offer better protection against flu strains is a major factor to augment growth of the U.S. influenza vaccine market over the forecast period.
Innovative technologies to augment the influenza vaccine production and reduce shortage is expected to propel the market growth
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Manufacturers are focusing on product development by using innovative technologies such as adopting novel recombinant and cell-based vaccine production technologies to increase their supply capacity by. For instance, Protein Science Corporation received FDA approval for Flubok Trivalent Vaccine for use in the U.S. market in 2013. Flubok is the only influenza vaccine produced using recombinant technology, which offers advantages such as timely and fast vaccine production as the technology is not dependent on egg supply for vaccine production and is safe for individuals with egg-related allergies. Also, in 2016, Seqirus received FDA approval for Flucelvax quadrivalent, indicated for people aged 4 years and above. Flucevax is a four strain, inactivated seasonal influenza vaccine, which is produced using cell culture technology at the Holly Springs Facility in the U.S. The vaccine was recommended by the World Health Organization and the Food and Drug Administration for the 2016 influenza season, in order to help protect against two influenza virus strains, which include A strains and B strains.
Increasing production capacity helps to address major problems such as vaccine shortage and inequitable access, thus minimizing the cost of vaccines. For instance, in 2015, bioCSL Limited and Novartis AG developed Seqirus Company, focused on robust vaccine production for pandemic preparedness and to contribute to the prevention and control of influenza, globally. Investments in R&D is increasing significantly in order to develop new innovative technologies for launching efficacious products to increase product diversification. For instance, GlaxoSmithKline Plc is focused on research and development for the production of innovative influenza vaccines. The company has two pipeline products for the treatment of influenza virus infections via intravenous administrationRelenza, which is currently in Phase III, and Danirixin, which is in Phase II. Moreover, constant improvements on formulation and production levels, by the key players for the development of influenza vaccines is expected to boost growth of the influenza vaccines market. According to the Health Industry Distribution Association, 2016, vaccine manufacturers produced around 174.5 million doses for the 201516 influenza season, representing 11.1% increase from the total number of vaccines manufactured for the 201415 flu season in the U.S.
Key Takeaways of the U.S. Influenza Vaccines Market:
The U.S. influenza vaccines market is expected to exhibit a CAGR of 15.9% over the forecast period, owing to rise in awareness about vaccination to reduce the substantial health burden of the disease
Among vaccine types, quadrivalent vaccine segment held the dominant position in the U.S. influenza vaccines market in 2016, owing to the higher disease coverage by the vaccine and rising production capacity owing to its efficacy by major manufacturers
Among age group, adults is expected to be the dominant segment in the U.S. influenza vaccines market, owing to rising number of adult population in the country, higher availability, and easy approval of the influenza vaccines for indication in adults
Browse 20 Market Data Tables and 15 Figures spread through 120 Pages and in-depth TOC on “U.S. Influenza Vaccines Market”- Forecast to 2025
To know the latest trends and insights prevalent in the U.S. Influenza Vaccines Market, click the link below: https://www.coherentmarketinsights.com/market-insight/us-influenza-vaccines-market-1127
Some of the major players operating in the U.S. influenza vaccines market are Sanofi Pasteur, Seqirus Vaccines Ltd., GlaxoSmithKline Plc., and Medimmune
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