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What Is The Present And Forecasted Size Of The Travel Vaccines Market?
The market size for travel vaccines has seen robust growth in the past few years. The market is forecasted to rise from $4.73 billion in 2024 to $5.09 billion in 2025, representing a compound annual growth rate (CAGR) of 7.6%. The substantial growth recorded in the historic period is attributed to factors such as a surge in international travel, governmental health initiatives for travelers, the spread of diseases due to globalization, increasing awareness among travelers, and the growth of the travel and tourism industry.
Expectations for the travel vaccines market size indicate a significant expansion in the next couple of years, reaching “$7.36 billion in 2029 with a compound annual growth rate (CAGR) of 9.6%. This predicted rise during the forecast period stems from an increased prevalence of business travel, the emergence of threatening infectious diseases, prerequisites, and regulations set by governments, a growing appetite for novel destinations and collaborations between public bodies and pharmaceutical firms. During the forecast period, key trends entail custom vaccination plans, penetration of the market in non-endemic zones, the uptake of digital health technology, regulatory backing and streamlined approval procedures, and innovative advancements.
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What External And Internal Drivers Are Influencing The Travel Vaccines Market?
Growth in the travel vaccine market is anticipated to be driven by the surge in travel and tourism. Travel and tourism involve the displacement of individuals or entities, utilizing various transportation modes such as trains, ships, aircraft, and other types of transit across different distant geographical locations. Travel vaccines prove beneficial for vacationers and voyagers as they ensure their safety and health during their foreign travels. As per the data of January 2023 by the United Nations World Tourism Organization (UNWTO), an intergovernmental agency in Spain promoting tourism, there was a record of over 900 million international tourists in 2022, a number that is double that of 2021 and 63% higher than the numbers before the pandemic. Consequently, the rise in travel and tourism is escalating the expansion of the travel vaccine market.
Which Segment Accounts For The Largest Share In The Travel Vaccines Market?
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
Subsegments:
1) By Hepatitis A: Inactivated Hepatitis A Vaccine, Combination Vaccines
2) By Diphtheria, Pertussis, And Tetanus (DPT): DTP Vaccine (Diphtheria, Tetanus, Pertussis), DTaP Vaccine (Diphtheria, Tetanus, And Acellular Pertussis)
3) By Yellow Fever: Live Attenuated Yellow Fever Vaccine, Booster Dosage Vaccines
4) By Typhoid: Inactivated Typhoid Vaccine, Live Attenuated Typhoid Vaccine
5) By Hepatitis B: Recombinant Hepatitis B Vaccine, Combination Vaccines
6) By Measles And Mumps: Measles, Mumps, And Rubella (MMR) Vaccine, Measles And Rubella (MR) Vaccine
7) By Rabies: Rabies Pre-exposure Prophylaxis (PrEP), Rabies Post-exposure Prophylaxis (PEP)
8) By Meningococcal: Meningococcal Conjugate Vaccine, Meningococcal B Vaccine
9) By Other Diseases: Japanese Encephalitis, Cholera, Influenza, Other Emerging Travel Vaccines
Which Long-Term Trends Will Play A Crucial Role In The Travel Vaccines Market?
In the travel vaccine market, product innovation is emerging as a significant trend. To maintain their market dominance, major players are creating novel vaccines. For instance, Takeda Pharmaceutical Company Limited, based in Japan, received approval from the Indonesia National Agency for Drug and Food Control for QDENGA (Dengue Tetravalent Vaccine) (TAK-003) to prevent dengue fever caused by any serotype in individuals between the ages of six and 45 in August 2022. Irrespective of a person’s previous exposure to the disease, it was demonstrated that QDENGA maintained comprehensive protection against dengue disease and hospitalization for three years post-immunization.
Which Organizations Are At The Forefront Of The Travel Vaccines Market?
Major companies operating in the travel vaccines market include Pfizer Inc., Johnson and Johnson, Merck & Co. Inc., Sanofi SA, GlaxoSmithKline plc, Biological E. Limited, 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.
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Which Region Is Forecasted To Lead The Travel Vaccines Market In The Coming Years?
North America was the largest region in the travel vaccines market in 2024. 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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