Influenza Vaccines Market Size

Influenza Vaccines Market Size

Influenza Vaccines Market size was valued to be worth USD 7.1 billion in 2023 and is estimated to witness 6.8% CAGR from 2024 to 2032. The increasing prevalence of influenza, rising government health initiatives & immunization programs, and growing advancements in vaccine technology are the major factors responsible for the growth of this market.

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For instance, during the 2021-2022 season, the Centers for Disease Control and Prevention reported a significant burden of influenza in the U.S., with an estimated 9.4 million flu cases. Among those, 4.3 million medical facility visits related to flu, 100,000 flu-related hospitalizations, and 4,900 flu-related deaths. This surge in influenza cases contributes to an increased demand for influenza vaccines, thereby fostering the market expansion.

Influenza vaccines, commonly known as flu vaccines, are preventive measures designed to protect individuals against influenza viruses. Influenza is a highly contagious respiratory illness caused by influenza viruses, and it can lead to severe illness or complications, especially in vulnerable populations such as the elderly and young children. The primary purpose of influenza vaccines is to stimulate the immune system to recognize and mount a defense against the influenza virus. These vaccines typically contain inactivated (killed) viruses, live attenuated (weakened) viruses.