Report : Europe Influenza Vaccines Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Vaccine Type (Quadrivalent Vaccines and Trivalent Vaccines), Virus Type (Influenza Virus Type A and Influenza Virus Type B), Technology (Egg-based and Cell-based), Route of Administration (Injection and Nasal Spray), and Target Group (Infants, Children, Adults, and Elderly People)
At 7.2% CAGR, the Europe Influenza Vaccines Market is speculated to be worth US$ 3,424.02 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe influenza vaccines market was valued at US$ 2,261.85 million in 2022 and is expected to reach US$ 3,424.02 million by 2028, registering a CAGR of 7.2% from 2022 to 2028. Increase in government support to promote influenza vaccination and increasing investment by top market players and governments are the critical factors attributed to the market expansion.
The governing bodies of various states and countries are supporting the promotion of vaccination through multiple activities and programs. By 2022, enough vaccines have been secured to cover all risk groups eligible for a government-funded flu vaccine through the NIP.Below are a few more instances supporting the government support for influenza vaccination: In Oct 2021, with flu season approaching, the Provincial Government was encouraging all Newfoundlanders and Labradorians to get a flu shot in the year 2021. Starting October 25, 2021, the Regional Health Authorities (RHAs) have begun hosting free flu vaccination clinics. People can also get the vaccine through their family doctor or local pharmacy. Thus, increasing government support to promote influenza vaccination worldwide is driving the influenza vaccines market.
On the contrary, high cost of vaccine development hampers the Europe influenza vaccines market.
Based on vaccine type, the market is segmented into quadrivalent vaccines and trivalent vaccines. The quadrivalent vaccines segment held 88.4% market share in 2022, amassing US$ 1,998.51 million. It is projected to garner US$ 3,073.81 million by 2028 to expand at 7.4% CAGR during 2022–2028.
Based on virus type, the market is segmented into influenza virus type A and influenza virus type B. The influenza virus type A segment held 95.7% market share in 2022, amassing US$ 2,164.77 million. It is projected to garner US$ 3,309.85 million by 2028 to expand at 7.3% CAGR during 2022–2028.
Based on technology, the market is segmented into egg-based and cell-based. The egg-based segment held 79.1% market share in 2022, amassing US$ 1,789.87 million. It is projected to garner US$ 2,668.13 million by 2028 to expand at 6.9% CAGR during 2022–2028.
Based on route of administration, the market is segmented into injection and nasal spray. The injection segment held 72.7% market share in 2022, amassing US$ 1,644.73 million. It is projected to garner US$ 2,539.21 million by 2028 to expand at 7.5% CAGR during 2022–2028.
Based on target group, the market is segmented into infants, children, adults, and elderly people. The infants segment held 40.4% market share in 2022, amassing US$ 914.02 million. It is projected to garner US$ 1,346.08 million by 2028 to expand at 6.7% CAGR during 2022–2028.
Based on country, the Europe influenza vaccines market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that the UK captured 26.6% market share in 2022. It was assessed at US$ 602.15 million in 2022 and is likely to hit US$ 960.44 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.
Key players dominating the Europe influenza vaccines market are AstraZeneca; Emergent BioSolutions Inc.; GlaxoSmithKline plc.; Mitsubishi Chemical Group Corporation; Moderna, Inc.; MYLAN N.V.; Sanofi; SEQIRUS; and Serum Institute of India Pvt. Ltd, among others.
- In Mar 2020; Emergent BioSolutions Inc. announced an agreement with Novavax, Inc. whereby Emergent will provide molecule-to-market contract development and manufacturing (CDMO) services to produce Novavax’s NanoFlu, its recombinant quadrivalent seasonal influenza vaccine candidate with its proprietary Matrix-M adjuvant. Novavax recently announced that NanoFlu met all primary objectives in its Phase 3 clinical trial evaluating immunogenicity and safety in adults aged 65 and older.
- In Jun 2022; Moderna, Inc. announced the first participants had been dosed in a Phase 3 study of the Company's seasonal influenza vaccine candidate (mRNA-1010). The trial is expected to enroll approximately 6,000 adults in Southern Hemisphere countries.
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