Travel Vaccines Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Industry Outlook

Thetravel vaccines market is set to reach US$ 8,436.2 Mn by 2029 from US$ 4,400.3 Mn in 2020 showcasing steady growth at a compounded annual growth rate (CAGR) of 7.5% during the forecast period from 2021 to 2029. As per the research findings of World Tourism Organization (WTO) the number of international arrivals throughout the globe is expected to reach 1.6 billion by 2020. It is estimated that 51% of these travelers accounted for holiday and recreational purpose, 15% tourist traveled for business purpose and 24% reported travel for religious reason and pilgrimage.

Travelers are at a high risk to bacterial and viral infection due to sudden change in humidity, altitude, temperature, poor hygiene and lack of medical services in remote areas etc. The World Health Organization (WHO) has drafted a treatment guideline for the travelers primarily focusing on the importance of vaccination as a preventive measure classified as routine, recommended and required vaccination.

Required vaccination are gaining prominence due to sudden outbreak of fatal diseases such as ebola, zika and middle east respiratory syndrome

Routine vaccination holds the largest market share by type in the travel vaccines market. It is helpful in developing immunity in humans against infectious diseases such as influenza, MMR, tuberculosis and diphtheria etc. The other factors responsible for the dominance of routine vaccination are the rising prevalence of infectious diseases and proactive government policies to promote vaccination in all age groups. Favorable reimbursement scenario has a positive impact on the routine vaccination market growth. Recommended vaccination are gaining popularity on account of facts such as increasing number of visitors globally. They are taken two months in advance on physicians recommendation to build immunity against endemic diseases such as cholera, diarrhea, Japanese encephalitis etc. Required vaccination will be the fastest growing segment on account of factors such as sudden outbreak of fatal diseases such as ebola, zika, malaria and middle east respiratory syndrome.

Increasing public health awareness and well-developed healthcare infrastructure to drive North America market growth

North America is the clear leader in travel vaccines market. The key parameters which propel the travel vaccines market growth in North America are increasing public health awareness and existence of well-developed healthcare infrastructure. Presence of key players and implementation of treatment guidelines emphasizing preventive care in citizens travelling abroad drive the North America market. European medical agency has made it mandatory for visitors to get vaccinated at the port of entry for infectious diseases such as tuberculosis, swine flu and hepatitis B etc. Asia Pacific will be showcasing fastest growth during the forecast period owing to rising prevalence of infectious diseases and rampant growth in tourism sector. Middle East and Africa performs stringent vaccination of the haj piligrims in order to prevent the spread of middle east respiratory syndrome (MERS). Since the outbreak of fatal diseases such as ebola and zika the healthcare agencies in Latin America and African region the government healthcare bodies have invested huge funds in developing vaccines to protect the health of their citizens.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2021 to 2029.

Market assessment is performed in the scope of report to understand the latest market trends prevailing in the travel vaccines market. Comprehensive study was performed to understand the disease etiology of different infections encountered by travelers throughout the globe and the preventive action taken by the global healthcare agencies. Competitive landscape is covered in the scope of the report to understand the competition existing among key players. The vaccines classified as routine, recommended and required vaccination are covered under the product portfolio segment. Major players providing travel vaccines are Baxter AG, Bharat Biotech, GlaxoSmithkline, Plc., Inovio Pharmaceuticals, Inc., Merck & Co., Inc., Novartis AG, PaxVax Corporation, Sanofi Pasteur SA, Valneva SE and VBI Vaccines, Inc.

Key questions answered in this report

• What is the market estimation and compounded annual growth rate for travel vaccines market?
• Who are the major players in travel vaccines market?
• What are the treatment guidelines and vaccination prescribed by regulatory bodies throughout the globe?
• What are the drivers, challenges and opportunities existing in the travel vaccines market?
• What is the competitive scenario existing in travel vaccines market?
• Which is the leading and fastest growing type segment for travel vaccines market?
• Which is the leading and fastest growing regional segment for travel vaccines market?

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