Influenza Vaccine Market Size

Influenza Vaccine Market size was over USD 6.92 billion in 2024 and is poised to cross USD 17.01 billion by the end of 2037, growing at more than 7.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of influenza vaccine is estimated at USD 7.32 billion.

The growth of the market can be primarily attributed to the rising cases of influenza coupled with the continuous evolution of the variety of influenza viruses around the world, increasing the incidence of influenza epidemics and seasonal changes. According to the World Health Organization, the influenza virus remains a major public health challenge around the world. Globally, 1 billion influenza cases occur every year, 3 to 5 million of which are severe, leading to 290 000 to 650 000 deaths from influenza-related respiratory diseases.

Furthermore, the increasing number of clinical trials for new products increased vaccinations, the rapid spread of communicable diseases along with rising healthcare spending is projected to drive the global market growth during the forecast period. According to the data released by the Centers for Medicare & Medicaid Services, healthcare spending in the United States in 2020 exceeded USD 4.1 trillion, equivalent to 19.7% of GDP. Besides, the increasing use of vaccines during COVID-19 and increasing vaccination programs in developing countries are estimated to boost market growth.