The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global travel vaccines market is on an exciting trajectory, projected to increase from $4.07 billion in 2022 to $4.41 billion in 2023, driven by an impressive compound annual growth rate (CAGR) of 8.31%. Despite the challenges posed by global events, the market is set to continue its growth, with an expected size of $6.17 billion by 2027. In this blog, we’ll delve into the key drivers, explore the role of product innovation, and introduce major players shaping the travel vaccines market.

Globe-Trotting on the Rise: A Boost for the Travel Vaccines Market
The growth of the travel vaccines market is significantly influenced by the increasing prevalence of travel and tourism. The world is on the move, with travel and tourism signifying the movement of people or goods across various geographic regions, facilitated by modes of transportation such as trains, boats, airplanes, and more. Travel vaccines play a pivotal role in keeping tourists and travelers safe and healthy during their journeys. As an example, data from the United Nations World Tourism Organization (UNWTO) in January 2023 underscores the remarkable resurgence of international tourism. Over 900 million tourists embarked on journeys abroad in 2022, marking a substantial increase from 2021 and an impressive 63% growth compared to pre-pandemic levels. The increase in global travel is a significant driver behind the travel vaccines market’s expansion.

Key Players in the Travel Vaccines Market
The travel vaccines market is a dynamic arena led by major players who are instrumental in advancing the field. Some of the industry’s key players include:

• Pfizer Inc.
• Johnson & Johnson
• Merck & Co. Inc.
• Novartis AG
• Sanofi SA
• AstraZeneca PLC.
• GlaxoSmithKline plc
• Moderna Inc.
• BioNTech Europe GmbH
• Biological E. Limited
• Bausch Health Companies Inc.

These prominent companies are at the forefront of product development, market innovation, and technological advancements, playing a pivotal role in driving the travel vaccines market.

Innovative Travel Vaccines: A Transformative Trend
An essential trend in the travel vaccines market is the development of innovative vaccines. Companies in this market are focused on creating new, groundbreaking vaccine formulations to maintain their competitive edge. For instance, in August 2022, Takeda Pharmaceutical Company Limited, a Japan-based pharmaceutical company, achieved approval for QDENGA (Dengue Tetravalent Vaccine) (TAK-003) from the Indonesia National Agency for Drug and Food Control. QDENGA, a Dengue Tetravalent Vaccine, is designed for the prevention of dengue illness caused by any serotype. It is approved for individuals aged six to 45 and has demonstrated three years after immunization that it continues to provide comprehensive protection against dengue illness and hospitalization, irrespective of a person’s prior exposure to the disease.

Diverse Segmentation to Meet Varied Needs
The travel vaccines market is marked by a diverse range of solutions, ensuring the ability to cater to a broad spectrum of travel-related requirements. It is strategically segmented to address the varied needs of travelers:

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

Global and Regional Dynamics
In 2022, North America took the lead in the travel vaccines market, highlighting its significant role within the industry. While the COVID-19 pandemic presented unique challenges, regions around the world are poised to contribute to the market’s continued growth. Asia-Pacific stands out as the fastest-growing region in the forecast period.

View More On The Travel Vaccines Market Report 2023 – https://www.thebusinessresearchcompany.com/report/travel-vaccines-global-market-report

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The Travel Vaccines Global Market Report 2023  provides a comprehensive overview on the travel vaccines market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the travel vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
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