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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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