Overview and Scope
Travel vaccines are vaccines to protect against diseases that are either indigenous to the country of origin or the country of destination. They function to safeguard travelers and stop the spread of disease both within and between nations.
Sizing and Forecast
The travel vaccines market size has grown strongly in recent years. It will grow from $4.41 billion in 2023 to $4.79 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increased international travel, government initiatives for travel health, globalization of diseases, growing awareness among travelers, expansion of travel and tourism industry..
The travel vaccines market size is expected to see strong growth in the next few years. It will grow to $6.79 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing frequency of business travel, emerging infectious disease threats, government regulations and entry requirements, rising demand for exotic destinations, collaboration between governments and pharmaceutical companies.. Major trends in the forecast period include tailored vaccination strategies, expansion of market to non-endemic regions, adoption of digital health technologies, regulatory support and streamlined approvals, innovative developments.
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Segmentation & Regional Insights
The travel vaccines market covered in this report is segmented –
1) By Disease: Hepatitis A, Diphtheria, Pertussis, And Tetanus (DPT), Yellow Fever, Typhoid, Hepatitis B, Measles And Mumps, Rabies, Meningococcal, Other Diseases,
2) By Composition: Mono Vaccines, Combination Vaccines
3) By Booking Channel: Online Booking, In-Person Booking
4) By Application: Domestic Travel, Outbound Travel
North America was the largest region in the travel vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the travel vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in travel and tourism is expected to propel the growth of the travel vaccine market going forward. Travel and tourism refer to the movement of people or things, including vehicles like trains, boats, airplanes, and other conveyances, between various remote geographic areas. Travel vaccines are helpful for tourists and travelers by keeping them safe and healthy while they are traveling abroad. For instance, in January 2023, according to the United Nations World Tourism Organization (UNWTO), a Spain-based intergovernmental tourism-promoting organization, more than 900 million tourists traveled abroad in 2022, double the amount recorded in 2021 but still 63% higher than pre-pandemic levels. Therefore, the increase in travel and tourism is driving the growth of the travel vaccine market.
Key Industry Players
Major companies operating in the travel vaccines market report are Pfizer Inc., Johnson and Johnson, Merck & Co. Inc., Novartis AG, Sanofi SA, AstraZeneca PLC., GlaxoSmithKline plc, Moderna Inc., BioNTech Europe GmbH, Biological E. Limited, Bausch Health Companies Inc., Takeda Pharmaceutical Company Limited, Novavax Inc., Emergent BioSolutions UK, Serum Institute of India Pvt. Ltd., Dynavax Technologies, Bavarian Nordic A/S, Valneva SE, Panacea Biotec, Vabiotech, Inovio Pharmaceuticals, Bharat Biotech International Limited, Altimmune Inc., Bio Farma, Vaxart Inc.
The travel vaccines market report table of contents includes:
1. Executive Summary
2. Travel Vaccines Market Characteristics
3. Travel Vaccines Market Trends And Strategies
4. Travel Vaccines Market – Macro Economic Scenario
5. Global Travel Vaccines Market Size and Growth
……….
32. Global Travel Vaccines Market Competitive Benchmarking
33. Global Travel Vaccines Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Travel Vaccines Market
35. Travel Vaccines Market Future Outlook and Potential Analysis
36. Appendix
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