Travel Vaccines Market - Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Travel Vaccines Market size is USD 3.45 billion in 2022 and is projected to reach a CAGR of 11.6% from 2023-2030.

Travel vaccines also referred to as travel immunizations, are preventative vaccinations against serious diseases that travellers can receive prior to traveling to particular regions of the world. Travel vaccines protect against disease by exposing the body to the microorganism or parts of the microorganism. In response to the vaccination, the body produces antibodies that will safeguard it in the event of future exposure to the disease.

The primary factor driving the market growth is the increase in travel and tourism drives, increasing incidence of diseases linked to travel to boost growth, and international Travel Regulations from the Government Over the past few years, there has been a sharp increase in international travel, which has led to a significant increase in the demand for travel vaccines. This is a result of the growing trend of globalization. Numerous vaccines have been developed with geography-specific immunization because infectious diseases are specific to specific regions. Pathogens and disease-carrying vectors have spread worldwide as a result of increased travel in recent years. While migration and travel are on the rise, manufacturers have a huge opportunity to invest in the development of new vaccines that are more effective.

The global travel vaccine market has been severely impacted by the COVID-19 epidemic, which has had a significant impact on global health economies. Prior to the COVID-19 pandemic in 2020, the majority of travel vaccine regulations and instructions dealt with infectious diseases. They did, however, reveal a disparity among travellers, with some opting not to get immunized for financial reasons, a lack of knowledge, or personal preference. This applies to both casual travellers and visitors to friends and family. This led to numerous endemics and international diseases.

Since the pandemic regulations have eased, and travel and tourism have increased rapidly. People are venturing out to discover new experiences and locations. The tourism industry is returning to normal and on track to set new travel records. Since most nations have mandated vaccinations for both residents and visitors, this has resulted in an increase in the number of travellers getting vaccinated in advance. The Travel Vaccines Market is anticipated to grow as a result of this rising demand for vaccines.

Delvens Industry Expert's Standpoint

People all over the world are becoming increasingly concerned about their health as a result of the pandemic. They are developing novel strategies to maintain immunity against diseases and guarantee travel safety. Pharmaceutical companies and government agencies are working together to provide travellers with a variety of travel vaccines. Doctors and researchers are also working on vaccines with fewer side effects and lower doses through research and development. The market for travel vaccines has expanded significantly as a result of this. Travelers are becoming more likely to use vaccines, which will help the market grow.

Market Portfolio

Key Findings

• The disease segment is further segmented into Hepatitis A, Hepatitis B, Meningococcal Vaccines, DPT, Yellow Fever, Typhoid, Japanese Encephalitis, Measles Mumps & Rubella, Rabies, Polio, Influenza, Varicella & Shingles, Cholera, and Others. The hepatitis A segment held the highest market share in the travel vaccines market in 2021 and is expected to dominate the market by growing at a high rate during the forecast years as well. The DPT segment is anticipated to grow with a sharp increase and have the highest CAGR in the travel vaccines market during the forecast years.  
   
• The composition segment is further fragmented into Mono Vaccines, and Combination Vaccines. The majority of the market share is currently held by combination vaccines, which are given to travellers to protect them against multiple diseases. The combination vaccines market is anticipated to hold the largest market share by growing at a high rate in the forecast years as well.
   
• On the basis of the application segment, the market is further divided into domestic travel and outbound travel. Outbound travel holds the highest market share and is expected to grow with the highest CAGR during the forecast year as outbound travel is increasing globally because of various reasons like business, tourism, and many more.

Regional Analysis

• Due to rising public health awareness and rising demand for cutting-edge vaccines, the Asia-Pacific region is anticipated to expand at the highest rate between 2023 and 2030. Due to the region's improving healthcare infrastructure and rising government investment in education and awareness programs, it is a booming market for travel vaccines.
• It is anticipated that the market for human immunizations in North America will be dominated by the United States. It is anticipated that the attenuated and recombinant vaccine segments will expand more rapidly than the combination vaccine segments in North America.

Competitive Landscape

• GSK plc (U.K.)
• Sanofi (France)
• Merck KGaA (Germany)
• Novartis AG (Switzerland)
• Pfizer Inc. (U.S.)
• Bavarian Nordic (Denmark)
• Janssen Pharmaceuticals Inc. (U.S.)
• CSL Limited (Australia)
• AstraZeneca (U.K.)
• Altimmune (U.K.)
• Abbott (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)

Recent Developments

• In August 2022, Indonesia’s new vaccine for dengue providing a backbone for all four dengue viruses was approved by the authorities for people aged between 6 to 45.
• In January 2021, India began its journey toward recovery from a pandemic that has unquestionably disrupted and killed many people by launching the largest vaccination drive.

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