APAC Influenza Market

APAC Influenza Market Size (2023 to 2028)

The Asia-Pacific Influenza Market size is expected to be worth USD 2.47 billion by 2028 from USD 1.48 billion in 2023, growing at a CAGR of 10.70% during the forecast period.

The key drivers of the APAC influenza market are the increased awareness of influenza, peaks of seasonal influenza, broader vaccination coverage, outrage due to the influenza pandemic, and increased government support for influenza vaccination. Influenza is more prone in children and the elderly population. The Asian continent is home to approximately 60% of the total world population, including China, India, and Indonesia, three of the most populated countries. Over the past several decades, economic development across the Asian continent has remained uneven. According to FluNet, an estimated 400 million people were affected with influenza seen in 27 countries, transmitting 760,050 infections. Of these data reported, 28.35% were from H1N1, 39.2% with H3N2, and over 32.0% from the H2N3 strain. It has been reported that East and South-East Asia are more "antigenically advanced" than other strains isolated elsewhere. In addition, large healthcare companies invest considerable amounts of capital and time in developing advanced therapies to treat influenza.

The CDC says that seasonal flu viruses are constantly changing, so vaccines should also be changed accordingly. Absorption of the influenza vaccine in Asia is generally low. A systematic review focusing on Asian countries reported an average absorption of 14.95% in the general population and 37.35% among high-risk, much lower than the WHO target of 75%. In 2018, the influenza virus was detected in 69,100 people, of which 67,750 had the influenza A virus, and the rest had the influenza B virus.

The growing number of government initiatives to increase awareness of influenza therapy and prevention has also been the primary driver of the APAC influenza market.

However, huge costs involved in R&D, low awareness, and the time required to bring a new product to market can hamper the market's growth.

This research report on the Asia Pacific Influenza Market has been segmented and sub-segmented into the following categories:

By Product Type:

• Vaccines
• Drugs

By Type:

• Safety Biomarkers
• Efficacy Biomarkers            
• Validation Biomarkers

By Application:

• Diagnostics Development
• Drug Discovery and Development
• Personalized Medicine     
• Disease Risk Assessment 
• Other Applications   

By Disease Indications:

• Cancer     
• Cardiovascular Disorders   
• Neurological Disorders      
• Immunological Disorders 
• Other Diseases     

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

The Chinese region is an attractive market for manufacturers of seasonal influenza vaccines. The rapidly growing market will grow owing to the increased prevalence of influenza and better reimbursement policies in the region. As a result, the market is anticipated to grow at a compound annual growth rate (CAGR) of 9.4% from 2022 to 2027 and was worth USD 421 million in 2022.

Japan is anticipated to grow from $ 200 million in 2022 to $ 430 million by 2028, at a complex annual rate of 7.3% growth rate, attributed to new technological developments and the presence of advanced medical healthcare facilities, which can help the market grow.

The Australian influenza market is an attractive market that is anticipated to grow at a healthy growth rate during the forecast period, followed by the Philippines. Other attractive markets in terms of growth rate in the APAC region are Malaysia and Singapore. The APAC market focuses on R&D projects by manufacturers acquiring new technologies and strengthening their market presence by collaborating with or developing small and medium-sized biotechnology companies.

KEY MARKET PLAYERS:

Companies playing a promising role in the Asia Pacific Influenza Market are Sanofi-Pasteur (U.S.), AstraZeneca (United Kingdom), F. Hoffmann-La Roche (Switzerland), Novartis (Switzerland), GlaxoSmithKline (U.K.), Pfizer Inc. (U.S.), Merck & Co. (U.S.), Abbott Laboratories (U.S.), Mitsubishi Tanabe Pharma Corporation (Japan) and CSL Limited (Australia).