PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1316201
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1316201
Vietnam Influenza Vaccine market size was valued at USD 64.5 million in 2022 which is expected to reach USD 156.53 million in 2030 with a CAGR of 11.72% for the forecast period between 2023 and 2030. The growth of the Vietnam influenza vaccine market is propelled by several factors, including the growing prevalence of influenza, increased government focus on immunization programs, advancements in vaccine development, and technological innovations in vaccine delivery. Increasing awareness of vaccination among the Vietnamese population, spurred by public health campaigns and recommendations from healthcare providers, has resulted in higher demand for influenza vaccines. Additionally, enhancements in healthcare infrastructure and the expansion of medical facilities throughout the country have facilitated the availability of influenza vaccines. As healthcare services become more accessible, there is a corresponding increase in demand for preventive measures such as vaccination.
The Vietnamese government's initiatives and programs, such as the National Immunization Program and targeted vaccination campaigns, have played a crucial role in improving access to influenza vaccines, particularly among high-risk groups. The Vietnam influenza vaccine market gains advantages from international partnerships and adherence to global standards. Collaborations with renowned organizations such as the World Health Organization (WHO) guarantee that the influenza vaccines available in the market adhere to high standards of quality, safety, and efficacy.
In Vietnam, an estimated 1.6 to 1.8 million individuals are affected by reported cases of influenza-like illness annually. The prevalence of influenza in Vietnam varies from year to year, with seasonal outbreaks typically occurring during the winter months. Influenza activity can be influenced by factors such as climate, population density, and vaccination coverage. To determine the prevalence of influenza in Vietnam, surveillance systems such as the National Influenza Surveillanc e Program are employed to monitor influenza activity. These systems gather data on influenza cases, hospitalizations, and other relevant indicators to assess the extent of the virus's prevalence and its impact on public health. Gathering information about the annual disease burden and the economic value of preventing costly hospitalizations is valuable for maintaining Vietnam's influenza prevention and control programs. The increasing prevalence of influenza has led to the growth of the Vietnam Influenza Vaccine Market.
The development of influenza vaccines in Vietnam has been expedited due to technological advancements. Advanced methods like the use of an adjuvant as an ingredient of flu vaccine has helped promote a better immune response. Additionally, adjuvants have the potential to decrease the quantity of virus required for vaccine production, thereby enabling the manufacturing of larger vaccine supplies. For over 70 years, vaccines have incorporated aluminum salts, including aluminum hydroxide, aluminum phosphate, and aluminum potassium sulfate, in a safe manner. These salts were initially introduced in the 1930s, 1940s, and 1950s alongside diphtheria and tetanus vaccines, as they were found to enhance the immune response to these vaccines. According to an article published in ScienceDirect, in 2020, one of the first locally manufactured influenza vaccine, IVACFLU -A, developed by Institute of Vaccines and Medical Biologicals (IVAC), established by Vietnam's Ministry of Health, is developed using aluminum as an adjuvant. The vaccine was generally well-received with the majority of negative occurrences being mild and brief in duration.
The Vietnamese government has implemented various measures to encourage influenza vaccination within the country by engaging in partnerships with international organizations such as the World Health Organization (WHO) and United Nations International Children's Emergency Fund (UNICEF) to enhance influenza vaccination programs. Along with partnerships, the government has also taken several other initiatives to prevent the spread of flu. In 2020-2021 influenza season, the Vietnamese government, under the National Vaccination Programme, provided influenza vaccines to children free of charge. As part of the national vaccination program, children between the ages of 2 and 6 are eligible to receive the Fluenz Tetra nasal spray vaccine at no cost. A total of 116,000 dose s of Fluenz Tetra were acquired for this program, which is sufficient to cover 40% of the children within the 2 to 6 age range. Additionally, injectable Vaxigrip Tetra vaccines have been set aside for all eligible children, from 6 months to 6 years old, who are entitled to receive a free influenza vaccine.
The purpose of a quadrivalent vaccine is to provide protection against four strains of the flu virus, including two influenza A strains and two influenza B strains. In the past, flu vaccinations targeted three specific flu viruses: influenza A(H1N1), influenza A(H3N2), and one strain of influenza B virus, even though two lineages of B viruses were present in most seasons. The inclusion of the second B virus lineage was a strategic measure to enhance defense against the prevailing flu viruses. Consequently, a quadrivalent vaccine offers comprehensive protection against a wide range of flu viruses. A research study published by the National Center for Biotechnology Informati on (NCBI) in 2021 revealed that VaxigripTetra, created by Sanofi Pasteur, a multinational pharmaceutical company based in France, is considered safe for individuals aged 6 months and older as a preventive measure against influenza. The study also indicated that if a pregnant woman receives a single dose of the vaccine, it may offer protection to the newborn from birth until they are less than 6 months old.
Intramuscular injections offer several advantages over nasal sprays. Unlike nasal sprays, which are only approved for use in individuals aged 2 to 49 years old, intramuscular injections can be given to people of all ages. Furthermore, the dosage of the injectable administered via intramuscular injection can be adjusted according to the individual's age. Typically, intramuscular injections involve the administration of inactivated vaccines. These vaccines are derived from non-living strains of the flu virus and are known to be highly effective. One of the most significant benefits of these vaccines is their safety for the recipient's health. Inactivated vaccines are particularly suitable for individuals at a higher risk of experiencing severe complications, such as pregnant women, individuals with compromised immune systems, geriatric patients, and children under the age of 2. Growth of intramuscular vaccine market directly leads to growth of Vietnam influenza vaccine market.
The COVID-19 pandemic had several implications for the Vietnam influenza vaccine market. It raised awareness about the significance of vaccination, including influenza, leading to an increased demand for influenza vaccines as individuals recognize the importance of safeguarding themselves against respiratory illnesses. The distribution of influenza vaccines may have been influenced by adjustments made to vaccine supply chains and logistics to ensure the availability of COVID-19 vaccines. The Vietnamese government has implemented policy adaptations to address the pandemic's impact on the healthcare system, including vaccination programs. These adaptations may involve modifying distribution strategies, prioritizing specific target groups, or adjusting vaccination schedules. Furthermore, the pandemic resulted in a reprioritization of healthcar e resources, with healthcare systems primarily focused on addressing COVID-19 cases and related challenges.
The Vietnam Influenza Vaccine Market is characterized by the presence of key players who play a crucial role in shaping the industry landscape. These key players include both domestic and international pharmaceutical companies that are actively involved in the research, development, production, and distribution of influenza vaccines in the Vietnamese market. Local pharmaceutical companies of Vietnam shifted their focus on developing influenza vaccine, considering the increase in demand and shift in focus of the Vietnam government towards developing a locally manufactured influenza vaccine to decrease the dependency on international companies. In 2019, the Institute of Vaccines and Medical Biologicals (IVAC) in Vietnam achieved a significant milestone by obtaining the necessary license for a seasonal influenza vaccine. This vaccine has demonstrated efficacy in safeguarding against three specific strains of influenza: A/H1N1, A/H3N2, and B.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work