Report : North America 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), and Route of Administration (Injection and Nasal Spray)
At 7.6% CAGR, the North America Influenza Vaccines Market is speculated to be worth US$ 4,909.00 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America influenza vaccines market was valued at US$ 3,155.29 million in 2022 and is expected to reach US$ 4,909.00 million by 2028, registering an annual growth rate of 7.6% from 2022 to 2028. The increasing investment by top market players and governments and increase in government support to promote influenza vaccination 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. For instance; In July 2022, Public Services and Procurement Minister Filomena Tassi and Health Minister Jean-Yves Duclos announced that the Government of Canada had signed a new contract with GlaxoSmithKline (GSK) to support a sustainable influenza pandemic readiness. The Government of Canada maintains pandemic influenza vaccine preparedness in the event of an influenza pandemic. It has a contract in place with GSK to provide seasonal and pandemic influenza vaccines since 2001. Pandemic influenzas are unpredictable but occur when a new strain of influenza virus emerges, spreads widely, and causes the disease. In July 2022, Seniors and Long-term Care Minister Scott Johnston and Health Minister Audrey Gordon announced that the Manitoba government would expand the high-dose flu vaccine eligibility to include all adults aged 65 and over to ensure more Manitoba people are protected against influenza. In September 2019, US President Donald Trump signed an executive order to promote the development of better vaccines to protect against seasonal flu and the potential for pandemic flu outbreaks.
On the contrary, high cost of vaccine development hurdles the growth of North America influenza vaccines market.
Based on vaccine type, the North America influenza vaccines market is divided into quadrivalent vaccines and trivalent vaccines. The quadrivalent vaccines segment held 87.7% market share in 2022, amassing US$ 2,766.67 million. It is projected to garner US$ 4,371.52 million by 2028 to expand at 7.9% CAGR during 2022–2028.
Based on virus type, the North America influenza vaccines market is segmented into influenza virus type A and influenza virus type B. The influenza virus type A segment held 95.8% market share in 2022, amassing US$ 3,022.14 million. It is projected to garner US$ 4,746.28 million by 2028 to expand at 7.8% CAGR during 2022–2028.
Based on technology, the North America influenza vaccines market is divided into egg-based and cell-based. The egg-based segment held 77.8% market share in 2022, amassing US$ 2,453.45 million. It is projected to garner US$ 3,757.86 million by 2028 to expand at 7.4% CAGR during 2022–2028.
Based on route of administration, the North America influenza vaccines market is divided into injection and nasal spray. The injection segment held 71.5% market share in 2022, amassing US$ 2,254.88 million. It is projected to garner US$ 3,578.91 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on country, the North America influenza vaccines market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 74.2% market share in 2022. It was assessed at US$ 2,341.54 million in 2022 and is likely to hit US$ 3,693.53 million by 2028, exhibiting a CAGR of 7.9% during the forecast period.
Key players dominating the North America influenza vaccines market are AstraZeneca; Emergent BioSolutions Inc.; GlaxoSmithKline plc.; Hualan Biological Engineering Inc.; Mitsubishi Chemical Group Corporation; Moderna, Inc.; MYLAN N.V.; Sanofi; SEQIRUS; and Serum Institute of India Pvt. Ltd among others.
- In July 2022, GSK announced an agreement with the Government of Canada for pandemic and seasonal influenza vaccines to help protect Canadian adults and children. The four-year agreement, spanning through March 2026, includes the supply of as many as 80 million doses of Arepanrix (adjuvanted pandemic influenza vaccine) in the event of an influenza pandemic(s) and a minimum of 4 million doses per year of Flulaval Tetra (seasonal influenza vaccine).
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: email@example.com