U.S. Influenza Market projected To Grow With Significant CAGR Over The Forecast Period
U.S. Influenza Market projected To Grow With Significant CAGR Over The Forecast Period
Influenza is an upper respiratory tract disease and is caused by the Influenza virus. Influenza virus is mainly three types namely Influenza A, Influenza B, and Influenza C. Influenza is a communicable disease, spread through a flu cough, droplets from the infected people, sneeze or talks. The common symptoms occur in influenza patients are chills, cough, running nose, sore throat, body aches, headache, fatigue, some cases people may have vomiting and diarrhea. The complication of the disease may include ear infections, bacterial pneumonia, dehydration, sinus infections, and sometimes it leads to congestive heart failure, and asthma. Influenza commonly occurs in geriatric population and children with less than 5 years of age. The infection may be confirmed by testing the sputum, nose, or throat for the virus. A number of rapid tests are available however polymerase chain reaction that detects the virus’s RNA is more accurate.
The U.S. Influenza market is growing at a significant CAGR due to rise in newborn babies, an increase in geriatric population. Increase in vaccination awareness, favorable reimbursement policies, and rising investment by companies in R & D aactivities are the major factors propelling the growth of U.S. influenza market. The major market players have many pipeline products, initiatives by government bodies such as WHO and CDC to control and prevent influenza, technological advancements in diagnostic tests also fuel the growth of U.S. influenza market. However, limited production capacity, a high level of required investment, and stringent regulatory policies for new product approvals might hamper the growth of U.S. Influenza market. Due to limitations in current technologies, the lengthy production times (approximately seven months), increase in prices of influenza diagnostic kits and reagents also hinder the U.S. Influenza market.
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The U.S. Influenza market is divided into following categories-
1. Drug class
- Anti-viral drugs
- Zanamivir
- Oseltamivir
- Amantadine
- Rimantadine
- Others
- Interferons
- Vaccines
- Trivalent
- Quadrivalent
2. Route of administration
- Oral
- Parenteral
- Others
3. End- users
Hospital pharmacies, retail pharmacies and others.
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U.S. holds a strong position in the global influenza market. The largest share is attributed to the higher rate of in-vitro diagnostics availability and technological advancements in medical devices which are primarily driving the U.S. Influenza market growth. As per CDC, person above 6 months of age could be vaccinated to prevent the influenza infection. Increase in prevalence and incidence cases of influenza (According to CDC, about 5 to 20 percent of the U.S. people are infected with influenza in every year. CDC also states that about 200,000 people hospitalized and more than 36,000 people are dying from influenza in U.S) might increase the growth of U.S. influenza market. Similarly, the increase in funding by the government is also driving the market growth in the United States. The U.S. government awarded 5-year contracts for more than US$ 1 Billion to five drug manufacturers developing technology for speedier mass production of influenza vaccines
Some of the key players in U.S. influenza market are AstraZeneca (U.K.), F. Hoffmann-La Roche (Switzerland), GlaxoSmithKline plc (U.K.), Novartis AG (Switzerland), Sanofi (France), Seqirus (U.K.), Protein Sciences Corporation (U.S.), Emergent Biosolutions (U.S.), BioCryst Pharmaceuticals.Inc (U.S.)., Alvogen (South Korea), Medimmune Inc. (U.S.), DynPort Vaccine Company, LLC. (U.S.), and Abbott Laboratories (U.S.) to name a few. In 2016, Seqirus received approval from USFDA for Flucelvax Quadrivalent, that was the first U.S. licensed cell-based quadrivalent influenza vaccine indicated for people aged four years and older. While in the same year, GSK received approval from USFDA for Flulaval Quadrivalent to include use in children aged six months or older.
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Influenza vaccines are key revenue contributor for the growth of U.S. influenza market. The U.S. influenza market is in growing phase, several international players are actively involved in the development of vaccines and drugs to treat influenza. The launch of new products, technological innovations, and approvals from U.S. Food and Drug Administration (FDA) for various drugs might fuel the growth of U.S. influenza market. For instance, Squires used both egg and cell-based technologies to offer the broadcast portfolio of influenza vaccines in the U.S. for both trivalent and quadrivalent formulations. Similarly, transformative changes in other vaccine markets, due to the entrance of expensive and innovative vaccines such as Gardasil (Merck) and Bexsero (GSK) are projected to contribute growth of the U.S. influenza market.
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