According to the latest market report published by Credence Research, Inc. “Influenza Therapeutics Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global Influenza therapeutics market was valued at US$ 6001.2 Mn in 2016, and is expected to reach US$ 1204.1 Mn by 2025, expanding at a CAGR of 7.8% from 2017 to 2025.
Browse the full report Influenza Therapeutics Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/influenza-therapeutics-market
Global influenza market will grow significantly during forecast period due to growing incidence of influenza worldwide, government initiatives in awareness and diagnostic programs are primarily driving the growth of influenza therapeutics market globally. For the purpose of study market is segmented on the basis of therapy type such as vaccines (trivalent and quadrivalent) and drugs (zanamivir, oseltamivir, peramivir and other). Currently, influenza vaccines (also known as flu shots or jabs) dominating the global influenza market because government initiative for vaccination is prime factor that driving the growth of influenza vaccine market globally; The World Health Organization (WHO) and Centers for Disease Control and Prevention (CDC), The European Centre for Disease Prevention and Control recommends yearly vaccination for nearly all people over the age of six months, especially those at high risk. In the base year 2016, North America held largest share in global influenza therapeutics market; it is observed that, United States is largest regional market in North America due to factors such as upsurge funding by government, increase in incidence of disease and higher number of geriatric population are driving the market growth in United States. The US government awarded 5 year contracts for more than $1 billion to five drug manufacturers developing technology for speedier mass production of vaccines, it includes GlaxoSmithKline, Medimmune Inc. Novartis Vaccines and Diagnostics, DynPort Vaccine Company, LLC. and Solvay Pharmaceuticals, these all factors are fueling the growth of influenza therapeutics market worldwide.
Market Competition Assessment:
The influenza therapeutics market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Abbott Laboratories, Astrazeneca PLC., Biocryst Pharmaceuticals, Inc., Chiron Corporation, CSL Limited, Daiichi Sankyo Co., Ltd., Glaxosmithkline PLC., Mitsubishi Tanabe Pharma Corporation, Nanotherapeutics Inc., Protein Sciences Corporation, Roche Holding AG, Sanofi SA, Shionogi & Co., Ltd., Sinovac Biotech Ltd. and other.
Key Market Movements:
– Factors such as rising incidence of influenza, growing geriatric population and upsurge funding by the government for treatment expected to drive the growth of influenza therapeutics market during forecast period.
– However, some factors such as lower healthcare awareness in some developing countries may negatively impacting the growth of influenza therapeutics market globally.