Influenza Medications Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Influenza has been recognised as a crucial cause of morbidity and mortality in the human population, which is leading to the development of novel drugs that are intended for reducing consequent health and economic impacts. Increasing prevalence of influenza and growth in research funding for the development of new Medications are the major factors driving the global influenza Medications market.

According to the WHO, in 2018, influenza can cause severe sickness or death mainly in patients at a high risk and illness range from mild to severe and even death. In addition, this annual increase is projected to result in about 3-5 million cases of severe illness, and about 290,000-650,000 deaths, globally.

Additionally, the growing number of government initiatives to increase awareness about the Medications and prevention of influenza. presence of Strong Pipeline for Antiviral Drugs is the other factors that are propelling the growth of the market globally.

However, high costs and side effects associated with the influenza medications are likely to hamper the growth of the market.

Key Market Trends

Vaccines segment Holds Significant Share in Influenza Medications Market

• Inactivate virus vaccines are more commonly used than live virus vaccines. In recent years, a significant advancement has been made in understanding the influenza virus, however, a little success has been achieved in understanding the prevention and control mechanism by the human immune system.
• To narrow the gap between understanding, the Human Vaccines Project has initiated the Universal Influenza Vaccine Initiative (UIVI) in collaboration with academic, corporate, nonprofit, and government partners. Also, biomedical and bioinformatics researchers are significantly contributing in the accelerating the development of a universal influenza vaccine.For instance, in July 2018, Sanofi Pasteur, the vaccine division of Sanofi, has launched 4-strain influenza vaccine FluQuadri in India.
• The past two years reported high dominance of Influenza A(H3N2), followed by influenza A(H1N1)pdm09 virus and influenza B viruses. In some cases, the disease is causing organism changes each year, which requires annual immunization against new circulating strains.
• With one major challenge to reduce the transmissibility of influenza viruses, there are several new vaccine strategies and platforms develop each year, which constantly push the growth of the Influenza Medications market.

North America dominate the Global Influenza Medications Market

• The United States and Canada in North America has a better healthcare system, and government organisations are actively focusing on the improvement of health in the country.
• With increasing influenza-associated hospitalisation and paediatric deaths, and the interest of government organisations to better manage the disease, influenza Medications market is expected to grow in the future in the North America region.
• The Center for Disease Control and Prevention (CDC) is creating a weekly US Influenza surveillance report, in which, weekly data is collected from various laboratories. Data for the week ending on July 21, 2018, states that 5.2% of deaths that occurred during the week were due to influenza. In addition, the number of influenza-associated paediatric deaths, as recorded by CDC, for year 2017-2018 was 179. This indicates that influenza-associated mortality rates are quite high in the United States.
• Additionally, frequent product launches in the region is also driving the Influenza Medications market growth in the North America region. For instance, in February 2018, Lupin has launched generic Oseltamivir Phosphate capsules in the US market its, used for Medications of influenza.
  

Competitive Landscape

In Influenza Medications market major players are focused on expanding their business in different areas by adopting various market strategies such as partnerships, collaborations, acquisitions and mergers etc. Key developments in the market include US Food and Drug Administration (FDA) has approved a supplemental New Drug Application (sNDA) for Roche's XofluzaTM (baloxavir marboxil) for the Medications of acute, uncomplicated influenza, or flu in OCT 2019.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support