The global travel vaccines market size was worth US$ 4.9 Billion in 2018. Travel vaccines, also known as travel immunizations, are vaccines travelers can get before they visit certain regions across the globe which help protect them from serious diseases. Travel vaccines work by exposing the body to a microorganism or parts of the microorganism of the disease it will protect against. The body responds to the vaccination by making antibodies that will protect it against a situation where there is an exposure to the disease in the future.
The number of international tourist arrivals worldwide increased from 1.0 Billion in 2012 to nearly 1.4 Billion in 2018. A significant number of these travelers traveled from developed countries to regions with endemic diseases. As more people travel to countries with endemic disease, demand for vaccinations will continue to increase. Moreover, regulatory authorities across the globe have also mandated that travelers should be vaccinated before travelling to disease-prone regions. As a result, travel vaccines have now become an important requirement in an international travelers list. For instance, The Ministry of Health in the kingdom of Saudi Arabia requires that all travelers arriving for Hajj and Umrah from countries or areas at risk of diseases such as yellow fever, Meningococcal meningitis, Poliomyelitis, etc. must present a valid vaccination certificate. Other factors driving the demand of travel vaccines include increasing awareness levels, technological advancements, increasing incidence of life-threatening infectious diseases, etc. Looking forward, we expect the market to reach a value of US$ 8.1 billion by 2024, exhibiting a CAGR of around 9% during 2019-2024.
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