Report : North America Influenza Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Vaccine Type (Quadrivalent Vaccines and Trivalent Vaccines), Virus Type (Influenza Virus Type A and Influenza Virus Type B), Technology (Egg-based and Cell-based), and Route of Administration (Injection and Nasal Spray)
At 7.6% CAGR, the North America Influenza Vaccines Market is projected to be worth US$ 4,909.00 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America influenza vaccines market was valued at US$ 3,155.29 million in 2022 and is expected to reach US$ 4,909.00 million by 2028, registering a CAGR of 7.6% from 2022 to 2028. Increase in government support to promote influenza vaccination and increasing investment by top market players and governments are the critical factors attributed to the North America influenza vaccines market expansion.
Market players and governments worldwide are increasing their investments in vaccine development and immunization. For instance, In March 2021, Sanofi announced an approximately US$ 925 million investment in a new vaccine manufacturing plant at its pre-existing site in Toronto and Canada. Investments in the new facility will provide additional antigen and filling capacity for Sanofi's FLUZONE high-dose quadrivalent influenza vaccines, increasing availability in Canada, and the US in the years to come. In April 2021, 3 levels of government - federal, provincial and municipal - supported Sanofi Pasteur in building an "end-to-end" influenza vaccines factory in Toronto. The partners will invest nearly US$ 1 billion to get the site up and running, slated for 2027. Paris-based Sanofi, for its part, will invest more than US$ 55 million, create 165 new eligible jobs, and maintain another 1,100. The federal government is investing US$ 55 million, while the Ontario government is contributing US$ 55 million, making it a US$ 925 million project. In addition, Sanofi will also invest at least US$ 79 million annually. Thus, the increase in investment by top market players and governments across the region is bolstering the North America influenza vaccines market.
On the contrary, high cost of vaccine development hampers North America influenza vaccines market.
Based on vaccine type, the North America influenza vaccines market is segmented into quadrivalent vaccines and trivalent vaccines. The quadrivalent vaccines segment held 87.7% market share in 2022, amassing US$ 2,766.67 million. It is projected to garner US$ 4,371.52 million by 2028 to expand at 7.9% CAGR during 2022–2028.
Based on virus type, the North America influenza vaccines market is segmented into influenza virus type A and influenza virus type B. The influenza virus type A segment held 95.8% market share in 2022, amassing US$ 3,022.14 million. It is projected to garner US$ 4,746.28 million by 2028 to expand at 7.8% CAGR during 2022–2028.
Based on technology, the North America influenza vaccines market is segmented into egg-based and cell-based. The egg-based segment held 77.8% market share in 2022, amassing US$ 2,453.45 million. It is projected to garner US$ 3,757.86 million by 2028 to expand at 7.4% CAGR during 2022–2028.
Based on route of administration, the North America influenza vaccines market is segmented into injection and nasal spray. The injection segment held 71.5% market share in 2022, amassing US$ 2,254.88 million. It is projected to garner US$ 3,578.91 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on target group, the North America influenza vaccines market is segmented into infants, children, adults, and elderly people. The infants segment held 33.6% market share in 2022, amassing US$ 1,059.26 million. It is projected to garner US$ 1,610.18 million by 2028 to expand at 7.2% CAGR during 2022–2028.
Based on country, the North America influenza vaccines market has been categorized into US, Canada, and Mexico. Our regional analysis states that the US captured 74.2% market share in 2022. It was assessed at US$ 2,341.54 million in 2022 and is likely to hit US$ 3,693.53 million by 2028, exhibiting a CAGR of 7.9% during the forecast period.
Key players dominating the North America influenza vaccines market are AstraZeneca; Emergent BioSolutions Inc.; GlaxoSmithKline plc.; Mitsubishi Chemical Group Corporation; Moderna, Inc.; MYLAN N.V.; Sanofi; SEQIRUS; and Serum Institute of India Pvt. Ltd, among others.
- In Mar 2020; Emergent BioSolutions Inc. announced an agreement with Novavax, Inc. whereby Emergent will provide molecule-to-market contract development and manufacturing (CDMO) services to produce Novavax’s NanoFlu, its recombinant quadrivalent seasonal influenza vaccine candidate with its proprietary Matrix-M adjuvant. Novavax recently announced that NanoFlu met all primary objectives in its Phase 3 clinical trial evaluating immunogenicity and safety in adults aged 65 and older.
- In Jun 2022; Moderna, Inc. announced the first participants had been dosed in a Phase 3 study of the Company's seasonal influenza vaccine candidate (mRNA-1010). The trial is expected to enroll approximately 6,000 adults in Southern Hemisphere countries.
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