Travel Vaccine Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027Segmented By Composition (Mono Vaccines v/s Combination Vaccines), By Disease Indication (Hepatitis A, DPT, Yellow Fever, Typhoid, Hepatitis B, Measles and Mumps, Rabies, Meningococcal, Varicella, Japanese Encephalitis, Others), By Travel Type (Domestic v/s International) and By Region
The global travel vaccine market is anticipated to grow at a steady rate in the forecast period, 2023-2027. The market growth can be attributed to the rising incidences of flu and rapid growth in the travel and tourism sector. Travel vaccines, also known as travel immunizations, are vaccine shots that protect travelers from serious illnesses. Vaccines work by exposing the body to germs of the disease it will protect against by enabling the production of antibodies. Besides, increasing awareness regarding the prevention of endemics and transnational infections and stringent advisories and regulations by health authorities to prevent the rise of infectious diseases are some of the factors driving the adoption of travel vaccines. The travel and tourism industry has witnessed a robust growth in recent years with the rise in disposable income of middle-class population across the world. Moreover, increasing trend of exploring different cultures, traditions, spiritualism, rural and ethnic living is propelling the adoption of travel vaccines. The COVID-19 pandemic has led to an increased emphasis on travel vaccines to avoid the spread of infections. As the public is becoming more aware and alert around the spread of infectious diseases, the demand for travel vaccine is expected to proliferate in the coming years. Growth in tourism activities have also led to the booming travel vaccine business for market players.
Stringent Advisories and Regulations by Health Authorities to Aid the Market Growth
Vaccination for diseases mentioned in the United States Department of Health & Human Services such as chickenpox, cholera, COVID-19, diphtheria, influenza, Hepatitis A, Hepatitis B, pneumococcal, polio, rabies, rotavirus, rubella, shingles, tetanus, typhoid fever, whooping cough, and yellow fever is considered mandatory by some countries. These countries ask for mandatory vaccination proofs documented on an International Certification of Vaccination or Prophylaxis (ICVP) from travelers entering their country. Various countries' governments have implemented policies to prevent traveling citizens from travel-related infections. For instance, the National Health Services (NHS) organizes routine vaccination drives to prevent infectious diseases such as hepatitis A, typhoid, measles, mumps, yellow fever, among others. In addition, travelers coming for Hajj and Umrah in Saudi Arabia from various countries are required to show proof of vaccination for meningitis and seasonal influenza. Major countries such as the United States, Canada, Mexico, United Kingdom, Saudi Arabia, India, China, Japan, and Germany, among others, recommend travelers to be vaccinated for DPT. Increasing regulations for safe traveling are supporting the normalization of travel vaccines among travelers, which is expected to boost the market growth.
High Market Growth Potential in Emerging Nations
Rising personal disposable income of middle-class population in developing nations, owing to improving economic conditions, is increasing demand for travel and tourism. Travel and tourism is rapidly becoming a part of lifestyle for people in developing nations. Besides, growing awareness among population regarding various infections and disease that they could fall prey to while travelling to another country is boosting the travel vaccine market growth. Moreover, governments in developing regions are taking initiatives to create more awareness regarding infectious diseases, which is expected to fuel the growth of travel vaccines in the coming years.
The global travel vaccine market is segmented by composition, disease indication, travel type, and region. Based on composition, the market is divided into mono vaccines and combination vaccine. Based on disease indication, the market is divided into Hepatitis A, DPT, Yellow Fever, Typhoid, Hepatitis B, Measles and Mumps, Rabies, Meningococcal, Varicella, Japanese Encephalitis, and others. Based on travel type, the market is bifurcated into domestic and international. The market analysis also studies the regional segmentation, divided among North America, Europe, Asia Pacific, Middle east and Africa, South America. The United States is expected to hold a significant share in the global travel vaccine market, owing to rising incidences of infectious diseases and increased spending by population on travelling in the region.
Key players operating in the global travel vaccine market are GlaxoSmithKline, plc., Sanofi S.A., Novartis International AG, Merck KGaA, Pfizer Inc., AstraZeneca Plc., Abbott Laboratories, Inc., F. Hoffmann-La Roche AG, CSL Limited, Johnson & Johnson, among others.
In this report, the global travel vaccine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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