The global influenza medication market is anticipated to grow at a CAGR of 7.2% in the forecasted period. In the last few decades, life-threatening infectious diseases are increasing drastically around the globe. This critical infectious disease also includes various types of influenza which are increasing day by day. The global influenza market is growing due to the rising outbreak of annual epidemics in key growth countries such as the US. Additionally, many countries use seasonal influenza vaccines, but the vaccines are not fully effective in terms of prevention. This is also boosting the growth of the global influenza medication market. According to research by the Central for Disease Control and Prevention, an estimation of 9.7 million influenza cases has been filled since 2019 only in the US. The serious impact of influenza Flu on human health and other critical diseases is helping the Influenza drug market to grow. The risk of developing influenza is more in chronic patients, pregnant women, and people who are suffering from a weak immune system.  The generic nature of the influenza virus makes them undergo a constant change which creates a big impact on the human body. This leads to increase research and development of new influenza medications which will boost the influenza drugs market growth.

Impact of COVID-19 Pandemic on Global Influenza Medication Market

The COVID-19 pandemic had impacted on a positive way in the global Influenza market. The demand of influenza vaccinations and drugs was on high during the pandemic. The COVID-19 deaths had crossed beyond 4 million globally. People became more aware about influenza and different viruses to prevent themselves from these diseases and started taking precautions from a very early stage. This leads to a positive demand of influenza drugs during the pandemic.

Segmental Outlook 

The global influenza medication market is segmented based on the treatment, route of administration, and distribution channel. Based on the treatment, the market is segmented into baloxavir marboxil, oseltamivir Phosphate, and others. Based on the route of administration, the global influenza medication market is sub-segmented into oral and others. Based on the distribution channel, the market is sub-segmented into online pharmacies, hospital pharmacies, and retail stores. The above-mentioned segments can be customized as per the client's requirements and choices.

Global Influenza Medication Market Share by Treatment, 2021(%) 

The  Oseltamivir Phosphate is anticipated to Hold a Prominent Share in the Global Influenza Medication Market

The Oseltamivir phosphate segment is anticipated to hold a major portion of the influenza drug market due to its status as one of the most prescribed drugs for the treatment of influenza due to its efficiency. But this segment is decreasing its demand day by day due to the loss of patients treated with this drug and also due to the inflow of several generic versions of the drug. The new segment which is helping to grow this market is Baloxavir Marboxil. Baloxavir Marboxil segment is anticipated to hold the fastest growing share. This segment is anticipated to grow at the highest CAGR due to the recent launch of this new treatment in different globally including in the US and Japan. This drug shows more efficiency in treating patients with Type A and Type B influenza compared to other drugs in the clinical trials.

The Oral Segment is anticipated to Hold a Prominent Share in the Global Influenza Medication Market

In the segments of the route of administration, the oral segment is anticipated to grow more during the forecast period. This is due to the increased number of drugs launched in recent times is in the form of a tablet. The drugs launched in tablet forms help to create a better supply chain globally and have greater ease in terms of consumption for a large number of affected patients. The major product of oral administration to cure influenza includes Xofluza and Tamiflu. In the others segment, the influenza medication can be given through nasal form and intravenous injections. For instance, the common intravenous drug to cure influenza is Rapivab and the most common nasal administrated drug to cure influenza is Relenza by GlaxoSmithKline.

The Hospital Pharmacy is anticipated to Hold a Prominent Share in the Global Influenza Medication Market

The hospital pharmacy is anticipated to have a dominant market during the forecast period as these types of drugs which are prescribed by doctors and only given after a thorough checkup and diagnosis which can only be conducted in hospitals and clinics. So, it can be estimated that the customers are more likely to buy these drugs from the hospital pharmacy after the prescription of doctor. The retail pharmacy segment is anticipated to hold the second-largest position in the market because the major product in the market is in the oral form and it can be self-administered in homes after the re-filling of prescriptions by doctors. Lastly, online pharmacies can have the highest revenue due to the increasing demand for online pharmacies for their all-time availability of medicines, huge discounts, and due to ease and convenience.

Regional Outlooks

The global influenza medication marketis further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for particular region or country level as per the requirement. 

Global Influenza Medication Market Growth, by Region 2022-2028

North America is anticipated to hold the Major Share in the Global Influenza Medication Market

North America is anticipated to hold the major share globally in the influenza medication market.  This is due to the high prevalence of several forms of influenza in the region, which is coupled with new product launches to cure influenza will drive the market in this region. Additionally, the increasing research and development initiatives, along with increased awareness among the population about the consequences and risk factor which includes chronic illness, death threat due to influenza is driving the North American influenza medication market. 

The Asia-Pacific region is anticipated to grow fastest in the influenza medication market due to the increased disposable income in this region and the supportive government initiatives to aware the population of influenza, the market in this region is growing. The increasing outbreak of new variants of influenza and the leading cause of mortality is making this market grow in this region.

Market Players Outlook

The major companies serving the Global Influenza Medication Market include BIOCRYST PHARMACEUTICALS, INC., Genentech, Inc., GlaxoSmithKline Plc., Lupin Ltd., Seqirus (CSL), and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and medication launches for the advancement of the influenza medication, to stay competitive in the market. For instance, in November 2020, Shionogi and Co. Ltd. announced the approval of Xofluza, a type of Baloxavir Marboxil 20mg tablet for the treatment of Influenza type A and Influenza Type B for patients over the age of 12 in Taiwan.

The Report Covers

• Market value data analysis of 2022 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global influenza medication Market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.