Influenza Vaccine Market Significant Growth Is Driven by Fear of an Impending Pandemic
Influenza Vaccine is also called as flu shot and is used for protection against influenza virus. An influenza vaccine is a combination of three influenza viruses namely, influenza type A with H3N2 virus strain, influenza type A with H1N1 virus strain and influenza type B virus strain. Over the recent years, the Influenza Vaccine market has witnessed double digit growth rate due to fear of an impending pandemic. The Influenza Vaccine market has grown at a CAGR of approximately 65% between 2008 and 2010 due to the havoc caused by H1N1 virus. However, H1N1 flu vaccine demand will decline due to waning threat of swine flu epidemic. The Influenza Vaccine market is expected to cross USD 4 billion in 2015.
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Among all the geographical regions, U.S. was the largest Influenza Vaccine market in the year 2010 closely followed by China. Like any other medication, dealing with such a deadly infectious disease is a challenge still faced by healthcare units. The chances of occurrence of seasonal influenza are equal in developed as well as developing nations. And it is predicted that in next five to six years the market for seasonal influenza vaccine will increase significantly due to high infection rate across the population.
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In terms of region, the hepatitis B therapeutics market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the hepatitis B therapeutics market owing to the high awareness levels, availability of improved infrastructure, and favorable government initiatives relating to the promotion of hepatitis B therapeutics. Europe is the second largest market for hepatitis B therapeutics driven by rising geriatric population, high rates of chronic infections in Central and Eastern Europe. Prevalence of hepatitis B is the highest in Middle East & Africa where adult population is chronically infected. According to the WHO, it is estimated that 2% to 5% of general population is affected chronically in Asia Pacific. Most people with liver cancer die within diagnosis as there are limited treatment options.
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The report analyses the global scenario of Influenza Vaccine Market discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data and forecasts the Influenza Vaccine Market size, production forecasts along with key factors driving and restraining the market.