The vaccine industry is already a very lucrative cash cow for pharmaceutical corporations, despite fears about rising skepticism regarding inoculations growing in recent years. One of the most prevalent vaccines is for influenza, which Industry predictions show is about to bring in a great deal more revenue over the next seven years.
A report from the Seattle, WA-based research firm, Coherent Market Insights indicates that the influenza vaccine market is poised to grow by a compound annual growth rate of a remarkable 15.9 percent between the period of 2017 and 2025. This would take an industry currently valued at $1.6 billion and grow it all the way to $8 billion.
The report elaborates on its findings and why the market is poised for such a large boom:
Manufacturers are focusing on product development by using innovative technologies such as adopting novel recombinant and cell-based vaccine production technologies to increase their supply capacity by. For instance, Protein Science Corporation received FDA approval for Flubok Trivalent Vaccine for use in the U.S. market in 2013. Flubok is the only influenza vaccine produced using recombinant technology, which offers advantages such as timely and fast vaccine production as the technology is not dependent on egg supply for vaccine production and is safe for individuals with egg-related allergies.