Global Influenza Medication Market Report and Forecast 2024-2032

Global Influenza Medication Market Outlook

The global influenza medication market size reached a value of USD 1,033.06 million in 2023, driven by the increasing cases of influenza and active healthcare systems engaged in combating influenza worldwide. The market is anticipated to grow at a CAGR of 3.4% during the forecast period of 2024-2032 to attain a value of USD 1,400.62 million by 2032.

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Influenza Medication: Introduction and Insights

Influenza is a viral infection that spreads easily and can prove to be fatal at times, due to which there is a strong demand for the influenza medication market. It is usually self-diagnosable and resolves within days or weeks. It spreads through skin-to-skin contact, contact with the saliva of an infected person, by touching a contaminated surface or by airborne respiratory droplets. One can prevent it by taking a vaccine annually. For treatment, rest and fluid intake are considered primary which allows the body to fight the infection on its own.

• There has been significant success in understanding the Influenza virus and developing remedies to treat them. However, most significant of all the treatments is vaccination. The Human Vaccines Project started the Universal Influenza Vaccine Initiative in collaboration with various private and government sectors to speed the development of the influenza vaccine.

• Four authorised antiviral developments ‘Oseltamivir', ‘Zanamivir', ‘Amantadine', and ‘Rimantadine' are likely to rise in the influenza medication market during the forecast period because no other trial could compete with their effectiveness in treatment. Amantadine and Rimantadine reduce the duration of influenza and treat type A infection while Oseltamivir and Zanamivir are neuraminid inhibitors.

• Increase in the number of affected people by influenza will ultimately steer the demand for influenza drugs all around the globe. Older people who are more prone to this sickness is yet another reason that will surge the demand for influenza medications. This will increase the emphasis on research which will help in better development of treatment protocols, making it a lucrative opportunity for the market to grow.

Recent Drug Approvals in the Influenza Medication Market

In August 2023, Genentech announced that United States’ FDA approved for the use of ‘Xofluza’. It acts as influenza medication for children aged 5 years and older. It is the first-in-class and only single-dose oral medicine that has been approved for children as young as 5 years old. Before the FDA approval was announced, it was used to treat flu in people who have had symptoms for not more than 48 hours and was used only for children aged 12 years and older.

In August 2023, UZ Leuven and KU Leuven carried out a trial with international partners and discovered that patients with influenza or COVID-19 also develop an additional fungal infection ‘aspergillosis' along with various other tissue damage. This study will make way for the development of modified remedies for patients with this double infection, extending the reach of the influenza medication market.

In July 2023, Seqirus and a business of CSL Limited (ASX: CSL) partnered for multi-year influenza medication research with the University of Liverpool Pandemic Institute. Seqirus would participate in research projects and inform the generation of the threat of seasonal influenza and develop innovative approaches to the pandemic response.

In April 2023, a new influenza vaccine was developed against a pandemic variant of the H5N1 subunit virus. The vaccine has proved to be highly immunogenic in both younger and the older generations. This virus is mainly found in wild and domestic birds and poultry. Humans are as of now unaffected by this virus, but if it were to affect humans, public health could be severely affected and so the vaccine was developed.

Influenza Medication Market Segmentations

The market can be categorised into segments like type, influenza type, route of administration, distribution channels, and major regions.

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Market Breakup by Type

• Antiviral Drugs

• Antihistamines

• Vaccines

• Others

Market Breakup by Influenza Type

• Influenza A

• Influenza B

• Others

Market Breakup by Route of Administration

• Oral

• Others

Market Breakup by Distribution Channels

• Hospital Pharmacies

• Retail Pharmacies

• Online Pharmacies

• Others

Influenza Medication Market Breakup by Regions

• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Italy
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Australia
  • Others
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Others
• Middle East and Africa
  • Saudi Arabia
  • United Arab Emirates
  • Nigeria
  • South Africa
  • Others

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Influenza Medication Market Scenario

Influenza medication products are distributed through various channels, including hospital pharmacies and retail pharmacy stores. With growing technology, they can be easily availed online as well. Hospital pharmacies hold a dominant share in the market because better care is taken, and treatment is conducted along with medication at the hospital itself through stronger medications which are generally unavailable in the retail market.

However, the retail market provides maximum medications in the oral form which are easy to self-administer. Convenient availability of medications online increases its long-term potential as compared to the hospital pharmacy segment. Retail pharmacies, on the other hand, are anticipated to hold the second largest share in the influenza medication market.

North America has been dominating the market and is expected to do the same in the future because of the increase in the medications launched in the region. The Asia Pacific is expected to give a tough competition to North America in the forecast period. Countries, including the United Kingdom, France, and Germany contribute to the growth of the European market.

The increasing status of influenza has overall affected the growth of the influenza medication market. That is because there is a rapid growth in influenza, ultimately increasing the mortality rate, thus bolstering the demand for the medication overall and affecting the market.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global influenza medication market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Genentech, Inc.

• Shionogi and Co., Ltd.

• Seqirus Inc.

• AstraZeneca PLC

• Novartis AG

• GlaxoSmithKline Plc

• Lupin Limited

• Biocrystal Pharmaceuticals, Inc.

• Teva Pharmaceutical Industries Ltd.

• Zydus Pharmaceuticals, Inc.

• Amneal Pharmaceutical LLC

• Macleods Pharmaceuticals Ltd.

Key Highlights of the Report