Influenza vaccines help in boosting immunity against influenza viruses causing flu. The vaccine includes inactivated influenza viruses that helps produce antibodies without causing an actual viral infection. These vaccines offer protection against seasonal influenza strains. The global Influenza vaccines market is estimated to be valued at US$ 6216.47 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: Increasing awareness among consumers regarding influenza prevention through vaccination is likely to provide opportunity for growth of the influenza vaccines market. Preventive immunization through vaccination programs conducted by governments has led to widespread awareness about influenza prevention. According to CDC, annual immunization against influenza is the most effective method for preventing influenza virus infection and its severe complications like hospitalization and death. Rising campaigns to promote annual influenza immunization and improve immunization rates among target populations are likely to drive the influenza vaccines market growth over the forecast period. Porter's Analysis Threat of new entrants: The threat of new entrants is moderate as establishing a vaccine manufacturing facility requires large capital investments and decades of R&D. However, developing nations provide opportunities for new players. Bargaining power of buyers: The bargaining power of buyers is high due to presence of many vaccine manufacturers globally. Buyers can negotiate on price and demand innovative products. Bargaining power of suppliers: Approved suppliers of active pharmaceutical ingredients and excipients have significant bargaining power over vaccine manufacturers due to their specialized expertise and facilities. Threat of new substitutes: Technology advancements in gene-based and recombinant vaccine development pose a threat of substitution in long run. However, established vaccines have strong brand recognition currently. Competitive rivalry: The competitive rivalry is high among leading players due to their global presence, generic competition and pressure to continuously innovate. Players focus on expanding production capacities and geographical reach. SWOT Analysis Strengths: Established brands, strong distribution networks, decades of expertise in influenza vaccines, robust R&D pipelines. Weaknesses: Heavy reliance on seasonal demand, pricing pressures due to patents of rival products expiring, stringent regulations. Opportunities: Expanding target population coverage, new product introductions, emerging markets growth, pandemic preparedness investment. Threats: Threat from substitute therapies, regulatory delays, supply chain disruptions, intense competition. Key Takeaways Global Influenza Vaccines Market Size is expected to witness high growth with a CAGR of 11% during the forecast period of 2023-2030. It is projected that the market size will reach over US$ 16 Billion by 2030 from US$ 6.2 Billion in 2023. Regional analysis: Asia Pacific is poised to be the fastest growing region fueled by improving healthcare infrastructure, rising disposable incomes and government vaccination initiatives in major countries like China, India and Japan. North America currently dominates the market owing to well established healthcare systems and routine immunization recommendations. Key players: Key players operating in the influenza vaccines market are DuPont de Nemours, Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation, Grasim Industries Limited, Sateri Holdings Limited, Tangshan Sanyou Group Co., Ltd., Birla Cellulose, Indo Bharat Rayon, China Bambro Textile Co., Ltd. The companies focus on expanding production capacities and entering new markets through strategic partnerships and acquisitions. Get More Insights On This Topic: https://www.ukwebwire.com/influenza-vaccines-market-analysis/
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