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U.S. Influenza Vaccines Market– Prevention of Virus through Vaccination Aids in Reducing Burden of the Disease

Influenza is an infection caused by influenza virus and is commonly known as flu. Vaccination for influenza aids in prevention of flu. This vaccine is recommended for children aged 6 months and older. Moreover, according to the World Health Organization (WHO), 2017, influenza virus is transmitted primarily by respiratory secretions or droplets of the infected person. It has an annual global attack rate of 5-10% in adults and 20–30% in children. Influenza vaccines are available with a wide range of options for different age groups such as children aged 6 months and above and adults aged 65 and above. According to the American Public Health Association, 2015, influenza vaccines confer protection with 60–90% efficacy among the recipients, thus increasing the adoption rate of the vaccines.

The U.S. influenza vaccines market was valued at US$ 2.6 billion in 2019 and is expected to witness a CAGR of 16.1% over the forecast period (2019–2027).

Figure 1. U.S. Influenza Vaccines Market Share (%), by Vaccine Type, 2019 and 2027

Source: Coherent Market Insights (2020)

Rising incidence of pandemic events and increasing awareness, leading to improved pandemic preparedness is expected to boost the market growth.

Rising pandemic events is mainly attributed to genetic diversity of influenza viruses with varying patterns and severity. Risk of the onset of a novel pandemic strain has resulted in rise in research and development for production of efficacious influenza vaccines. Pandemic planning is expected to reduce transmission of pandemic virus, which can eventually decrease hospitalizations and deaths, thus minimizing the social and economic impact of pandemic events. For instance, the Centers for Medicare & Medicaid Services (CMS) provides reimbursement covering 100% of the costs of one seasonal influenza virus vaccinations per influenza season, and it also covers additional seasonal influenza virus vaccinations. Thus, favorable reimbursement is a positive factor to increase adoption rates of influenza vaccines, thus propelling the market growth.

However, shortage of vaccine supply due to genetic assortment of the viral strains is surging the need for updating vaccines each year by the manufacturers. This is a major factor that is expected to restrain the market growth.

Government initiatives to tackle such events is a major factor that is expected to propel growth of the U.S. influenza vaccine market.

The government agencies in the U.S. are focusing on collaborations, in order to increase the supply of influenza vaccines. For instance, the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), and the National Institutes of Health (NIH) the U.S. Department of Health and Human Services Biomedical Advanced Research, and Development Authority (BARDA) are working together for developing new and better influenza vaccines, as a part of inter-agency government effort in the U.S. Moreover, the recommendation from the Advisory Committee on Immunization Practices to receive influenza vaccine, in order to reduce the substantial annual health burden of the disease, is expected to augment growth of the U.S. influenza vaccine market over the forecast period.

Additionally, key players in the market are focusing on strategic mergers and acquisitions to tackle the problem of vaccine shortage. For instance, in August 2017, Sanofi Pasteur acquired Protein Sciences Corporation, thus adding Flublok product to its portfolio, the only U.S. FDA approved recombinant protein-based influenza vaccine. With the acquisition, Sanofi expanded its influenza vaccine portfolio and its presence in the U.S. influenza vaccines market by exploring the non-egg-based manufacturing technologies.

The key players operating in the U.S. influenza vaccines market include Sanofi Pasteur, Seqirus Vaccines Ltd., GlaxoSmithKline Plc., and Medimmune.