Influenza Vaccines Market Overview

The influenza vaccines market is projected to expand significantly, increasing from US$ 7,478.53 million in 2021 to US$ 12,272.49 million by 2028. This growth represents a compound annual growth rate (CAGR) of 7.4% from 2022 to 2028. Key drivers of this market expansion include enhanced government initiatives to promote influenza vaccination and increased investments from leading market players and governmental bodies.

Government Support for Vaccination Programs

Various governments are actively endorsing vaccination initiatives. For example, the Australian government provides free seasonal influenza vaccines to individuals at risk of complications related to influenza through its National Immunization Program (NIP). By 2022, the program had successfully administered enough vaccines to cover all eligible risk groups.

Here are additional examples of government support for influenza vaccination:

• In July 2022, the Canadian government, represented by Public Services and Procurement Minister Filomena Tassi and Health Minister Jean-Yves Duclos, announced a new contract with GlaxoSmithKline (GSK) aimed at enhancing preparedness for a potential influenza pandemic.


• Also in July 2022, Manitoba's Health Minister Audrey Gordon and Long-term Care Minister Scott Johnston revealed plans to broaden eligibility for high-dose flu vaccines to all adults aged 65 and older, ensuring greater protection against influenza for the province's residents.


• The Victorian government initiated a grant and reimbursement program to assist general practitioners and pharmacies in improving access to and uptake of influenza vaccines during June and July 2022.


• In June 2022, New Zealand expanded access to free flu vaccines, making an additional 800,000 residents eligible starting July 1, 2022. This included children aged 3 to 12 and individuals with severe mental health or addiction issues.


• In Taiwan, the Centers for Disease Control and the Ministry of Health and Welfare launched a media campaign titled "Let's Stay Healthy Together" to promote the 2021 government-funded influenza vaccination program, with key officials receiving vaccinations to encourage public participation.


• In September 2019, then-US President Donald Trump signed an executive order aimed at fostering the development of improved vaccines to combat seasonal flu and potential pandemic outbreaks.


• In October 2021, as flu season approached, the Provincial Government of Newfoundland and Labrador urged residents to receive flu shots, initiating free vaccination clinics through Regional Health Authorities starting October 25, 2021.

This global increase in governmental support for influenza vaccination is a significant factor propelling the growth of the influenza vaccines market.

Insights on Vaccine Types

The influenza vaccines market is categorized based on vaccine type into quadrivalent and trivalent vaccines. The quadrivalent vaccines segment is anticipated to dominate the market in 2022 and is expected to exhibit a higher CAGR throughout the forecast period. Quadrivalent vaccines protect against four strains of influenza viruses, including two influenza A and two influenza B viruses. Notably, all flu vaccines administered in the US during the 2021-2022 season were quadrivalent.

Insights on Virus Types

When segmented by virus type, the market is divided into influenza virus type A and type B. The influenza virus type A segment is projected to capture a larger market share in 2022 and is expected to grow at a faster rate during the forecast period. This growth is attributed to the prevalence of influenza virus type A, which is known to infect both humans and animals, leading to more common illness occurrences.

Insights on Technology

The influenza vaccines market is also segmented based on technology into egg-based and cell-based production methods. The egg-based segment is expected to maintain a larger market share in 2022 and is projected to grow at a faster CAGR during the forecast period. This is largely due to the traditional egg-based manufacturing process, which has been the standard for over 70 years.

Insights on Routes of Administration

In terms of administration routes, the market is divided into injection and nasal spray. The injection segment is likely to dominate the market in 2022 and is expected to show a higher growth rate during the forecast period. The preference for injections is due to their widespread acceptance as the standard method for administering flu vaccines.

Insights on Target Groups

The global influenza vaccines market is categorized by target groups, including infants, children, adults, and the elderly. In 2021, the infants segment held a significant market share; however, the elderly population is anticipated to experience the highest growth rate in the coming years.

Sources of Information

The insights and data presented in this report are derived from various primary and secondary sources, including the International Trade Administration (ITA), Farmindustria-Bain & Company, EFPIA member associations, the World Health Organization (WHO), Business Monitor International (BMI), the Department of Emergency Medicine, and the Indian Journal of Medical Sciences.