Influenza Market to Reach US$12.8 Billion by 2029: BCC Research

The global influenza market is projected to grow from US$9 billion in 2024 to US$12.8 billion by 2029, according to BCC Research. This represents a compound annual growth rate of 7.2%, driven by advances in diagnostic tools, expanded vaccination efforts and increased government support for flu-related health initiatives.

"The rise in influenza cases and growing awareness of vaccine importance have underscored the need for faster, more accurate diagnostic tools and accessible immunization strategies," reads the report.

The report segments the market into vaccines, therapeutics, and diagnostics, with vaccines expected to remain the dominant category through 2029. North America is expected to maintain the largest share of the market. The region accounted for US$4.2 billion of the market in 2023 and is expected to reach US$6.3 billion by 2029.

Key drivers include the development of rapid and molecular testing technologies that support earlier and more accurate detection of influenza. These advances enable faster patient treatment and help reduce transmission. Public health systems and pharmaceutical companies are using this data to guide vaccine production and distribution strategies ahead of flu seasons.

Government initiatives are also contributing to market expansion, with accelerated approval pathways and increased funding for new treatments and testing platforms. Public campaigns have improved flu vaccine awareness, further driving demand, reads the report.

Notable developments include GSK’s early distribution of its trivalent flu vaccines in the United States for the 2024–2025 season. Sanofi received Fast Track designation from the Food and Drug Administration (FDA) for two combination vaccines designed to protect individuals aged 50 and older from both influenza and COVID-19. The FDA also approved FluMist in 2024 as the first self-administered influenza vaccine in the United States, allowing adults under 49 to use a nasal spray without medical supervision.