Published Date : Feb 21, 2017
Albany, NY, Feb 21, 2017: The new market report added to MarketResearchReports.biz studies the importance of seasonal influenza vaccines and therapeutics. Compared to curative healthcare, there is a higher demand for preventive healthcare from a large pool of patient population in Asia Pacific. The report examines the various upcoming products that are in their early-stage of development.
The report – titled ‘Seasonal Influenza Therapeutics in Asia-Pacific Markets To 2022 - Growth Driven By Rising Elderly Population, Growing Awareness And Launch Of Quadrivalent Therapies’ – projects that the market will grow at a CAGR of 4.7%, from its initial value of US$1.24 billion in 2015 to US$1.71billion in 2022. The report further discusses various drivers and barriers that will influence the market over the forecast period.
Influenza, more commonly known as the flu, usually infects the elderly or young children. Influenza viruses can cause infectious respiratory diseases, which may lead to mild to severe illness. The severity of the illness might result in hospitalization or even death. In order to protect from harmful influenza Type A, B, and C viruses, vaccination is immensely important. The symptoms of influenza include sore throat, chills, cough, vomiting, and diarrhea. Some may also experience headache, body ache, and fatigue. It is difficult to ensure quick and effective treatment simply with antiviral medication, thus prophylactic vaccination is the preferred intervention for seasonal influenza.
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Increasing government support for immunization against seasonal influenza, vast vaccination coverage, and growing awareness regarding influenza are some of the key drivers impacting market growth. In addition, several market players have promising products in the pipeline, thereby fuelling the growth of the global seasonal influenza therapeutics market. In order to revolutionize the market, numerous companies have been investing in on-going R&D activities for novel vaccines and newer technologies. However, a high level of required investment, variable demand, limited production capacity, and stringent regulations act as hindrances to new entrants, thus restricting the market growth.
Seasonal influenza vaccine manufacturers can benefit by entering the promising market of Asia Pacific. The demand for seasonal influenza therapeutics has tremendously increased over the years due to the changing perceptions of a large patient pool. With improved vaccine formulations, the market is shifting from trivalent to quadrivalent formulations. On the other hand, cell culture vaccines are switching from outdated egg-based manufacturing of seasonal influenza vaccines. In terms of value and growth rate, Philippines is the profiting market for seasonal influenza therapeutics, followed by Malaysia and Singapore.
The prominent players in the seasonal influenza therapeutics market include Novartis, CSL, MedImmune, Sanofi-Pasteur, Solvay, ID Biomedical Corp. of Quebec, Sinovac Biotech, GlaxoSmithKline, Hualun Biologicals, Seqirus, Protein Sciences, and MedImmune.
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