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The Travel Vaccines Market size was estimated at USD 8.26 billion in 2023, USD 9.09 billion in 2024, and is expected to grow at a CAGR of 10.06% to reach USD 16.18 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
The travel vaccines market encompasses the production, distribution, and administration of immunizations recommended or required for international travelers based on specific regional disease risk exposures. The ongoing growth in the travel vaccines market is primarily driven by increased international travel, rising awareness about vaccine-preventable diseases, and governmental travel regulations mandating certain vaccines for entry. Additionally, the expansion of the global tourism industry and proactive health measures by international travelers fuel the demand for travel vaccines. Technological advancements in vaccine storage and stability contribute to market growth by enabling wider vaccine accessibility and distribution.
The major challenges affecting the growth of the travel vaccines market include high costs associated with vaccine development and strict regulatory requirements leading to prolonged approval times. Additionally, the limited shelf life of vaccines, cold chain logistics requirements, and vaccine hesitancy among specific traveler demographics further impede market growth. Emerging market opportunities include developing vaccines against evolving infectious disease threats and expanding the existing travel vaccine portfolio to include neglected tropical diseases. An increase in public-private partnerships for vaccine research and development and the incorporation of digital health technologies for personalized travel health advisories and vaccine reminders represent significant prospects for industry expansion.
Regional Insights
In the Americas, the United States and Canada represent significant markets for travel vaccines, driven by high outbound travel rates and robust healthcare infrastructure. Consumer behavior shows a high degree of awareness and preparedness for travel health, leading to a steadfast demand for vaccines against diseases such as Yellow Fever, Typhoid, and Hepatitis A and B. The European Union exhibits a robust travel vaccine market due to well-established healthcare systems and high travel frequency to regions with vaccine-preventable diseases. The EU's streamlined regulatory framework fosters a conducive environment for introducing new vaccines.The Middle East & Africa region presents a varied landscape for travel vaccines, with the Gulf Cooperation Council countries showing growing demand due to increasing travel and healthcare investments. The Asia Pacific region is witnessing rapid growth in the travel vaccine market, with China, Japan, and India leading the way for market expansion. Notably, China and India invest heavily in vaccine R&D to become self-sufficient in vaccine production. Japan's market is distinguished by high consumer awareness and advanced vaccine technology, supported by government-led immunization campaigns.
Market Trends by Segment
- Type: Advancements in DNA vaccines to induce immune response
- Disease: Need based preference for hepatitis vaccines among travelers
Industry Insights
- Market Dynamics
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
- FPNV Positioning Matrix
- Market Share Analysis
- Strategy Analysis and Recommendations
Recent Developments
India's First Indigenously Developed Hepatitis A Vaccine Launched In Hyderabad
The Indian Immunologicals Limited (IIL) has launched Havisure, the nation’s first indigenously developed vaccine against Hepatitis A. This highly contagious liver infection, primarily transmitted through the fecal-oral route via contaminated food or water, represents a substantial public health concern. Through rigorous clinical testing across eight centers, Havisure has demonstrated its safety and efficacy, showcasing results on par with the leading global vaccinesFDA Approves PENBRAYA, the First and Only Vaccine for the Prevention of the Five Most Common Serogroups Causing Meningococcal Disease in Adolescents
Pfizer Inc. has achieved a significant milestone in public health with the U.S. Food and Drug Administration (FDA)'s approval of PENBRAYA, the inaugural pentavalent vaccine offering comprehensive protection against the predominant serogroups (A, B, C, W, and Y) responsible for causing meningococcal disease among adolescents and young adults aged 10 through 25. This innovative vaccine merges the strengths of Trumenba and Nimenrix, targeting the five key serogroups linked to the majority of invasive meningococcal disease (IMD) instances globally.Pfizer and BioNTech Receive U.S. FDA Approval for 2023-2024 COVID-19 Vaccine
Pfizer Inc. and BioNTech SE have announced the approval from the U.S. Food and Drug Administration (FDA) for their Omicron XBB.1.5-adapted monovalent COVID-19 vaccine, tailored for the 2023-2024 flu season. This approval encompasses a supplemental Biologics License for those aged 12 and older, alongside an emergency use authorization for ages 6 months to 11 years. This updated vaccine, recommended for a single dose in individuals 5 years and up - with particular dosing guidelines for children under 5 - aims to fortify protection against the evolving COVID-19 variants, especially the predominant Omicron XBB-related sublineages.Key Company Profiles
The report delves into recent significant developments in the Travel Vaccines Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AstraZeneca PLC, Bavarian Nordic A/S, Bharat Biotech Ltd., Bio-Manguinhos, Bio-Med (P) Limited, Biological E Limited, Cadila Pharmaceuticals Limited, CSL Limited, Dano Vaccines & Biologicals Private Limited, Dynavax Technologies Corporation, Emergent BioSolutions Inc., GlaxoSmithKline PLC, Incepta Pharmaceuticals Ltd., Indian Immunologicals Ltd., Johnson & Johnson Services, Inc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt. Ltd., Shenzhen Kangtai Biological Products Co., Ltd., Takeda Pharmaceutical Company Limited, Valneva SE, and Walvax Biotechnology Co., Ltd.This research report offers invaluable insights into various crucial aspects of the Travel Vaccines Market:
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
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Table of Contents
1. Preface
2. Research Methodology
5. Market Insights
6. Travel Vaccines Market, by Type
7. Travel Vaccines Market, by Disease
8. Americas Travel Vaccines Market
9. Asia-Pacific Travel Vaccines Market
10. Europe, Middle East & Africa Travel Vaccines Market
11. Competitive Landscape
12. Competitive Portfolio
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- AstraZeneca PLC
- Bavarian Nordic A/S
- Bharat Biotech Ltd.
- Bio-Manguinhos
- Bio-Med (P) Limited
- Biological E Limited
- Cadila Pharmaceuticals Limited
- CSL Limited
- Dano Vaccines & Biologicals Private Limited
- Dynavax Technologies Corporation
- Emergent BioSolutions Inc.
- GlaxoSmithKline PLC
- Incepta Pharmaceuticals Ltd.
- Indian Immunologicals Ltd.
- Johnson & Johnson Services, Inc
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi S.A.
- Serum Institute of India Pvt. Ltd.
- Shenzhen Kangtai Biological Products Co., Ltd.
- Takeda Pharmaceutical Company Limited
- Valneva SE
- Walvax Biotechnology Co., Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 180 |
| Published | May 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 9.09 Billion |
| Forecasted Market Value ( USD | $ 16.18 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
