The global travel vaccines market reached a value of US$ 2.94 Billion in 2020. 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 journey from developed countries to regions with endemic diseases. As more people travel to countries with endemic diseases, the demand for vaccines will continue to increase. Moreover, regulatory authorities across the globe have also mandated that travelers should be vaccinated before traveling to disease-prone regions. As a result, travel vaccines have now become an essential 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 and Poliomyelitis must present a valid vaccination certificate. Other factors driving the demand for travel vaccines include increasing awareness levels, technological advancements and increasing incidence of life-threatening infectious diseases. Looking forward, IMARC Group expects the global travel vaccines market to grow at a CAGR of 8.10% during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the global travel vaccines market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, composition, and disease.
Breakup by Composition:
Combination vaccines currently account for the majority of the market share as they are given to travelers in order to protect against multiple diseases.
Breakup by Disease:
Amongst these, hepatitis A represents the largest disease, dominating the market. It is a viral disease that can be transmitted through direct contact with an infectious person or the consumption of contaminated food and water.
On the geographical front, North America enjoys the leading position in the market. A large number of companies in the region are introducing a superior range of travel vaccines, including a vaccine against varicella.
The market is concentrated in nature with the presence of a handful of manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Key Questions Answered in This Report:
The global travel vaccines market reached a value of US$ 2.94 Billion in 2020.
According to the estimates by IMARC Group, expects the global travel vaccines market to grow at a CAGR of 8.10% during 2021-2026.
Substantial growth in the travel and tourism industry in recent years, along with the growing prevalence of infectious and travel-related diseases, acts as a major factor driving the market.
Regulatory authorities mandating vaccines for travelers coming from disease-prone regions represents one of the major trends in the market.
The coronavirus disease (COVID-19) has negatively impacted the market growth. This can be accredited to lockdowns imposed by governments of several countries that have halted the domestic and international travel services temporarily.
The market has been bifurcated on the basis of the composition into mono and combination vaccines.
Based on the disease, the market has been segregated into hepatitis A, DPT, yellow fever, typhoid, hepatitis B, measles and mumps, rabies, meningococcal, varicella, Japanese encephalitis, and others.
On the geographical front, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Leading industry players are GlaxoSmithKline Plc, Sanofi Pasteur SA (Sanofi SA), Merck & Co., Inc., Novartis AG, Pfizer Inc., ALK-Abelló A/S, Bavarian Nordic A/S, Johnson & Johnson, CSL Limited, AstraZeneca PLC, Altimmune, Inc., Abbott Laboratories and Hoffmann-La Roche, Inc.
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