Indian Influenza Vaccines market size stood at USD XX billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of XX% during the forecast period.
Influenza is contagious respiratory disease that is caused by influenza viruses and can lead to hospitalization and even death in certain severe cases. Influenza virus infect the respiratory tract (nose, throat, and lungs) in humans. Seasonal influenza detected year-round and the virus is most common during the influenza season especially in fall and winter months. There is mostly two influenza vaccine type which is widely available in the market, these are inactivated influenza vaccine (IIV) and live attenuated influenza vaccines (LAIV). The influenza vaccine market has increased tremendously over the past few years. There is a number of factors influencing the raised market value including the increase of the awareness of the disease among the people, funding, and the fear of influenza pandemic.
The increasing prevalence of Influenza-induced diseases among infants is responsible for the growth of this market. An increase in awareness regarding vaccines among patients can accelerate the growth of this market. The rise in the population of immunity-compromised individuals can act as a catalyst for market growth. An increase in the development and manufacturing of vaccines would enhance the market growth. The increasing intergenic variability among various influenza virus strains has led to increasing demand for developing influenza vaccines compatible to all types of influenza virus. For instance, National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), in February 2018, announced that they are focusing on developing new strategic plan to create safe and effective universal influenza vaccine. NIAID is engaged in developing an influenza vaccine for all age groups against multiple influenza strains, including those which can cause pandemic.