Influenza is contagious respiratory disease that is caused by influenza viruses and can lead to hospitalization and even death in certain severe cases. Influenza virus infect the respiratory tract (nose, throat, and lungs) in humans. Seasonal influenza detected year-round and the virus is most common during the influenza season especially in fall and winter months.
Moreover, the exact timing and duration of influenza season varies, however influenza activity often begins in winter months. At various geographical regions, influenza infection exist at a low level throughout the year, however its shows seasonal increase typically during the winter months. A seasonal influenza flu vaccine aids in reducing the risk of getting infected with seasonal flu and prevent its spreading throughout the year.
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Seasonal Influenza Vaccines Market – Drivers
Increasing incidence of seasonal influenza infection in various geographies is expected to be a major driving factor for growth of global seasonal influenza vaccines market. Rising pandemic events of influenza virus and their severity attributed to the genetic diversity of influenza virus is also another factor aiding in growth of the market. According to the World Health Organization (WHO), 2015, around 233 million outpatient visits, 5.2 million hospital admissions, and 7.4 million deaths are expected if a pandemic case were to occur, globally. Also, the Centers for Medicare & Medicaid Services (CMS) provides reimbursement covering 100% of the costs of one seasonal influenza virus vaccinations per influenza season, and it also covers the seasonal influenza virus vaccinations. Thus, favorable reimbursement is also expected to positively affect adoption rates of seasonal influenza vaccines, thus propelling the market growth.
Some of the key players in the seasonal influenza vaccines market includes Sanofi S.A., CSL Limited, GlaxoSmithKline Plc., and Medimmune, LLC. Key players in the market are involved in strategic mergers and acquisitions, to cater to increasing demand for these vaccines. For instance, in August 2017, Sanofi Pasteur acquired Protein Sciences Corporation, thus adding Flublok products to its portfolio — the only FDA approved recombinant protein-based influenza vaccine. With the acquisition, Sanofi expanded its influenza vaccine portfolio and its presence in the global vaccines market.
Moreover, influenza flu vaccination enables to reduce the risk of flu-associated hospitalization among adult and pediatric patients. For instance, according to the Centers for Disease Control and Prevention, 2015, flu vaccinations prevented around 1.9 million flu illnesses, 966,000 flu-associated medical visits, and around 67,000 flu-associated hospitalizations, representing 6.5% lowering of disease burden in the U.S.
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