April 24, 2018
WELLESLEY, Mass., April 24, 2018– A global aging population and the demand for vaccinations, treatments and diagnoses are helping to drive growth of the worldwide influenza market, according to a report by BCC Research.
The industry is expected to see a compound annual growth rate (CAGR) of 3.0% through 2022, when it could be worth $6.5 billion, according to the report The Global Influenza Market.
Major players in the market include Alere Inc., AstraZeneca Co., Becton Dickinson Co., Cepheid Inc., GlaxoSmithKline Plc., Luminex Corp., Mylan, Orasure Technologies, Quidel Corp., Hoffmann-La Roche, Sanofi and Seqirus.
“Worldwide seasonal flu epidemics can total up to 15% of the population (upper-respiratory infection), of which around 3 million to 5 million cases are classified as severe,” said report author and BCC Research analyst Melissa Elder. “In December 2017, the World Health Organization (WHO) updated its earlier estimates to as many as 650,000 influenza-related deaths annually, with a range of 290,000 to 650,000 deaths from respiratory complications. This is up from the previous estimate of 500,000 deaths and a range of between 250,000 and 500,000 cases.”
Market Driven in Part by Worldwide Pandemics
Uneven growth in the market is partly due to the presence of epidemics and pandemics. Of particular note was the H1N1 outbreak in 2009, which reached a World Health Organization pandemic level 6 response and caused more than 125 deaths in the United States. The virus was able to spread because no vaccine was available to treat it; it was not until later in the season that a vaccine was available.
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The Global Influenza Market( PHM049E )
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