The influenza vaccines market in Europe is expected to grow from US$ 2,261.85 million in 2022 to US$ 3,424.02 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2022 to 2028.
Increasing Investment by Top Market Players and Governments Boosts Europe Influenza Vaccines Market
Market players and governments worldwide are increasing their investments in vaccine development and immunization. For instance, in March 2021, Sanofi (Paris, France) announced an approximately US$ 925 million investment in a new vaccine manufacturing plant at its pre-existing site in Toronto, Canada. Investments in the new facility will provide additional antigen and filling capacity for Sanofi's FLUZONE high-dose quadrivalent influenza vaccines, increasing availability in Canada, the US, and Europe in the coming years. In April 2021, 3 levels of government—federal, provincial, and municipal—supported Sanofi Pasteur in building an "end-to-end" influenza vaccines factory in Toronto. The partners will invest ~US$ 1 billion to get the site up and running by 2027. Sanofi, for its part, will invest more than US$ 55 million, create 165 new eligible jobs, and maintain another 1,100. In addition, Sanofi will also invest ~US$ 79 million annually for 8 years to fund research and development in Canada.
In June 2021, The European Investment Bank signed a US$ 30.55 million global vaccine distribution agreement with biotech company Univercells to mass produce the COVID-19 vaccine at a new Belgian site. It helped build other vaccine factories across the world. In April 2022, the bank provided a US$ 15.27 million loan to IRBM, an Italian biomedical research company, to expand its vaccine production capacity and strengthen research on COVID-19 and other diseases. Thus, the increase in investment by top market players and governments across the region is bolstering the Europe influenza vaccines market.
Market Overview
Europe accounted for the second largest market owing to factors such as the rising geriatric population, increasing prevalence of flu and related illness, and growing demand for the development of new vaccines in the region. In addition, growing funding for research & development activities is likely to provide more opportunities in the coming years across the region.
Europe Influenza Vaccines Market Segmentation
The Europe influenza vaccines market is segmented on the basis of vaccine type, virus type, technology, route of administration, target group, and country.
Based on vaccine type, the Europe influenza vaccines market is bifurcated into quadrivalent vaccines and trivalent vaccines. The quadrivalent vaccines segment registered a larger share of the market in 2022.
Based on virus type, the Europe influenza vaccines market is bifurcated into influenza virus type A and influenza virus type B. The influenza virus type A segment held a larger share of the market in 2022.
Based on technology, the Europe influenza vaccines market is divided into egg-based and cell-based. The egg-based segment held a larger share of the market in 2022.
Based on route of administration, the Europe influenza vaccines market is divided into injection and nasal spray. The injection segment held a larger share of the market in 2022.
Based on target group, the Europe influenza vaccines market is segmented into infants, children, adults, and elderly people. The infants segment held the largest share of the market in 2022.
Based on country, the Europe influenza vaccines market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK dominated the market in 2022.
AstraZeneca; Emergent BioSolutions Inc.; GlaxoSmithKline plc.; Mitsubishi Chemical Group Corporation; Moderna, Inc.; MYLAN N.V.; Sanofi; SEQIRUS; and Serum Institute of India Pvt. Ltd are the leading companies operating in the influenza vaccines market in Europe.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,261.85 Million |
| Market Size by 2028 | US$ 3,424.02 Million |
| CAGR (2022 - 2028) | 7.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Vaccine Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Influenza Vaccines Market is valued at US$ 2,261.85 Million in 2022, it is projected to reach US$ 3,424.02 Million by 2028.
As per our report Europe Influenza Vaccines Market, the market size is valued at US$ 2,261.85 Million in 2022, projecting it to reach US$ 3,424.02 Million by 2028. This translates to a CAGR of approximately 7.2% during the forecast period.
The Europe Influenza Vaccines Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Influenza Vaccines Market report:
The Europe Influenza Vaccines Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Influenza Vaccines Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Influenza Vaccines Market value chain can benefit from the information contained in a comprehensive market report.
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