SEATTLE, April 06, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the U.S. influenza vaccine market was valued at US$ 2.6 billion in 2019, and is expected to exhibit a CAGR of 16.1% during the forecast period (2019-2027).
Key Trends and Analysis of the U.S. Influenza Vaccine Market:
Increasing U.S. government initiatives, in order to support various research institutes who are engaged in research and development activities and focusing on the development of the novel flu vaccines. The government is providing financial support to the research institutes, in order to continue the research for developing universal influenza vaccine. For instance, in 2019, Center for Vaccine Development and Global Health (CVD) has awarded the total funding accounted for over US$ 200 million dollars to the researchers at University of Maryland School of Medicine (UMSOM). The main aim of the funding is to develop a universal vaccine to protect against emerging influenza strains as well as improvements to current seasonal vaccines.’
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The rising adoption of inorganic growth strategies such as collaborations by the major key players and increasing focus on product development and manufacturing are expected to drive the market growth. For instance, in December 2018, Sanofi developed a new vaccine, similar to the Vaxelis, in partnership with Merck.
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. For instance, according to the Centers for Disease Control and Prevention, in February 2020, for the 2019-2020 influenza season, it is estimated that, manufacturers will provide as many as 162 to 169 million doses of influenza vaccine for the U.S. market.
Key Market Takeaways:
Major players operating in the U.S. influenza vaccine market include—
Sanofi Pasteur, Seqirus Vaccines Ltd., GlaxoSmithKline Plc., and Medimmune
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Market Segmentation:
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