Influenza Vaccines Market Is Driven By the Increasing Burden of Influenza Worldwide

 

The rapid spread of influenza virus around the world has increased the demand for safe and efficient influenza vaccine, driving the Influenza Vaccines Market growth. According to the United States Centers for Disease Control and Prevention (CDC), influenza has resulted in between 9 million to 45 million illnesses, between 140,000 to 810,000 hospitalizations, and between 12,000 to 61,000 deaths every year since 2010. Influenza is a viral infection that attacks the respiratory system. It is a contagious respiratory infection caused due to influenza virus. Illness due to the infection ranges from mild to severe, occasionally leading to death. Influenza vaccines protect against infection caused by influenza viruses.

Therefore, there is an increasing demand for influenza vaccines around the world. However, new versions of the vaccines are developed twice a year, as the influenza virus rapidly changes. In June 2021, the National Institutes of Health (NIH) begun a phase 1 human trial studying a universal influenza vaccine, FluMos-v1. The vaccine was developed by the NIH’s National Institute of Allergy and Infectious Diseases (NIAID) and is designed to stimulate antibodies against multiple strains by displaying part of the influenza virus hemagglutinin (HA) protein on self-assembling nanoparticle scaffolds. The disease occurs worldwide and spreads very quickly in populations, especially in crowded circumstances.

Thus, growth of the Influenza Vaccines Market is driven by the increasing burden of influenza disease worldwide, especially in North America and the Asia Pacific. Seasonal Influenza may affect all age groups; globally incidence is higher in young children and those above 65 years. In February 2020, Abbott launched a new inactivated quadrivalent vaccine for influenza, the first of its kind sub-unit vaccine offering protection against four virus strains, in India. It is the only vaccine in India that has been approved for use in children below 3 years. This in turn is also expected to accelerate the growth of the influenza vaccines market in India.

According to the World Health Organization (WHO), vaccination is a vital tool help prevent the infection and severe outcomes caused by influenza viruses. It helps protect women during pregnancy and their babies up to six months and among vaccinated, reduction in influenza related hospitalizations across all age groups is expected. Thus, with the increasing awareness among people about the vaccination, the demand for influenza vaccines is also increasing with a rapid pace. However, continuous mutation in genetic structure of influenza virus result in emergence of new virus, which remain unaffected by currently available vaccines. This in turn is expected to hamper the influenza vaccines market growth.

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