European Influenza Vaccines Market
Dublin, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The "Europe Influenza Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis" report has been added to ResearchAndMarkets.com's offering.
The influenza vaccines market in Europe is expected to grow from US$ 2,261.85 million in 2022 to US$ 3,424.02 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2022 to 2028.
Increasing Investment by Top Market Players and Governments Boosts Europe Influenza Vaccines Market
Market players and governments worldwide are increasing their investments in vaccine development and immunization. For instance, in March 2021, Sanofi (Paris, France) announced an approximately US$ 925 million investment in a new vaccine manufacturing plant at its pre-existing site in Toronto, 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, the US, and Europe in the coming years.
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 ~US$ 1 billion to get the site up and running by 2027. Sanofi, for its part, will invest more than US$ 55 million, create 165 new eligible jobs, and maintain another 1,100. In addition, Sanofi will also invest ~US$ 79 million annually for 8 years to fund research and development in Canada.
In June 2021, The European Investment Bank signed a US$ 30.55 million global vaccine distribution agreement with biotech company Univercells to mass produce the COVID-19 vaccine at a new Belgian site. It helped build other vaccine factories across the world. In April 2022, the bank provided a US$ 15.27 million loan to IRBM, an Italian biomedical research company, to expand its vaccine production capacity and strengthen research on COVID-19 and other diseases. Thus, the increase in investment by top market players and governments across the region is bolstering the Europe influenza vaccines market.
Increase in Government Support to Promote Influenza Vaccination
Increasing Investment by Top Market Players and Governments
High Cost of Vaccine Development
Strong Pipeline Candidates for Influenza Vaccines
Europe accounted for the second largest market owing to factors such as the rising geriatric population, increasing prevalence of flu and related illness, and growing demand for the development of new vaccines in the region. In addition, growing funding for research & development activities is likely to provide more opportunities in the coming years across the region.
Europe Influenza Vaccines Market Segmentation
The Europe influenza vaccines market is segmented on the basis of vaccine type, virus type, technology, route of administration, target group, and country.
Based on vaccine type, the Europe influenza vaccines market is bifurcated into quadrivalent vaccines and trivalent vaccines. The quadrivalent vaccines segment registered a larger share of the market in 2022.
Based on virus type, the Europe influenza vaccines market is bifurcated into influenza virus type A and influenza virus type B. The influenza virus type A segment held a larger share of the market in 2022.
Based on technology, the Europe influenza vaccines market is divided into egg-based and cell-based. The egg-based segment held a larger share of the market in 2022.
Based on route of administration, the Europe influenza vaccines market is divided into injection and nasal spray. The injection segment held a larger share of the market in 2022.
Based on target group, the Europe influenza vaccines market is segmented into infants, children, adults, and elderly people. The infants segment held the largest share of the market in 2022.
Based on country, the Europe influenza vaccines market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK dominated the market in 2022.
No. of Pages
2022 - 2028
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2028
Compound Annual Growth Rate
A selection of companies mentioned in this report includes
Emergent BioSolutions Inc.
Mitsubishi Chemical Group Corporation
Serum Institute of India Pvt. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/nnjy75-influenza?w=12
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