Wellesley, Mass, April 04, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research reveals that new technologies in vaccines and therapeutics and educational efforts to promote prophylactic use of influenza products are driving growth in the global influenza market, which is expected to reach $6.4 billion in 2021, up from $5.4 billion in 2016.
BCC Research's The Global Influenza Market reports that an aging population is another key market driver, boosting sales for products directed at preventive measures, while the international market continues to show promise in vaccination, treatment and diagnosis.
Research Highlights
- Revenues for vaccines and therapies are expected to continue to rise, reaching combined sales of $5.8 billion by 2021.
- Increased education efforts that promote vaccine use for preventing influenza should benefit vaccine product developers/marketers.
- The high risk for influenza complications among the elderly is a key reason to focus on the trend in life expectancy and its correlation to vaccine demands.
"The 2009 pandemic generated attention to surveillance measures, pandemic preparedness, vaccine production and antiviral control," says Kevin Fitzgerald, BCC Research editorial director. "It also revealed issues with laboratory capacity and the benefits of rapid testing in a pandemic situation."
Threat of Pandemic Keeps Market Growing
Annually, up to a half-million people die of influenza and, with the threat of a pandemic in any given year, government agencies and disease prevention organizations are devoted to gaining control of the situation.
"Many companies have been asked to assist with the problem and others are furthering their position with backing from government agencies," notes Fitzgerald. " The next five years should see support and funding for many research and development programs, product development, and pandemic prevention and/or control by worldwide governments, organizations, and health professionals."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.