Travel Vaccines Market Size - By Composition (Mono & Combination Vaccines), Disease Type (Hepatitis A & B, Influenza, DPT, Yellow Fever, Meningococcal, Typhoid, Rabies, Measles & Mumps), Application, Global Forecast, 2023-2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTravel Vaccines Market Size - By Composition (Mono & Combination Vaccines), Disease Type (Hepatitis A & B, Influenza, DPT, Yellow Fever, Meningococcal, Typhoid, Rabies, Measles & Mumps), Application, Global Forecast, 2023-2032
Travel Vaccines Market Size
Travel Vaccines Market size was valued to be USD 3.8 billion in 2022 and is predicted to experience a sustainable growth of CAGR 9.7% till 2032 due to the increasing travel and tourism that is leading to an increased awareness about vaccine-preventable diseases among travellers. Furthermore, the initiatives being taken by government and other organizations to enhance travel safety are also supporting the progression of industry.
Imagine you're planning an exciting trip to a faraway land. But before you pack your bags, there's something important to consideryour health. Certain countries carry the risk of diseases that you may not encounter back home. That's where travel vaccines come in. These vaccines are like special travel companions that protect you against nasty bugs that can cause illness. They're like tiny shields that keep you safe from things like hepatitis A and B, the flu, and even life-threatening infections like meningitis. Thanks to modern science, we now have vaccines that can target specific strains of these diseases, making them even more effective. It's like getting a personalized vaccine tailored to the risks of your destination. So, before you embark on your adventure, chat with your doctor about which travel vaccines are right for you. It's a simple step that can make a world of difference to your health and travel experience.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Travel Vaccines Market Size in 2022 | USD 3.8 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 9.7% |
| 2032 Value Projection | USD 9.5 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 119 |
| Tables, Charts & Figures | 211 |
| Segments covered | Composition, Disease Type, Application, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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COVID-19 Impact
When the COVID-19 pandemic hit, it threw the travel vaccines industry into a tailspin. People were afraid of the virus and weren't traveling nearly as much. This caused a huge drop in the need for travel vaccines. For instance, in January 2022, the World Tourism Organization reported that tourism had only increased by 4% in 2021 compared to 2020. And even then, travel was still 72% lower than it had been before the pandemic in 2019. In fact, 2020 was the worst year ever for tourism, with international travel decreasing by a whopping 73%.
Travel Vaccines Market Driving Factors
Our safety on the road is a big deal, and governments and organizations are taking it very seriously. They're rolling out initiatives to make sure we're all protected when we travel. One of the big reasons for this is the rise in travel-related diseases around the world. To stay on top of this, groups like the World Health Organization (WHO) are doing their part. They're telling travelers to get the yellow fever vaccine before heading to certain countries in Africa and South America. And it's not just about vaccines. The WHO is also making sure people have all the necessary paperwork, like an International Certificate of Vaccination or Prophylaxis (ICVP), to prove they're up-to-date on their shots. This is becoming a common requirement for entering some countries.
Travel Vaccines Restraining Factors
Traveling can be an expensive affair, especially when it comes to health. Vaccines for travel can cost a lot, and that's a big reason why not as many people get them. Usually, you need 2 or 3 vaccines for your first trip, and these are often quite pricey at travel clinics. And even after you've been vaccinated once, you might need more doses in the future, which can add up. On top of that, new vaccines are often the most expensive, which can put people off getting vaccinated. It's not just the vaccines themselves that cost money. You also have to pay for the doctor's visit, the nurse who gives you the shot, and any extra doses you might need. All these costs can add up, and it can be too much for some people to afford. And if they don't think a vaccine is really necessary, they might not get it at all, even if it could protect them from a serious illness.
Travel Vaccines Market Analysis
When it comes to travel vaccines, there are two main typessingle-shot (mono) vaccines and combination vaccines. In 2022, the single-shot vaccines were the most popular, raking in about 2.2 billion US dollars in revenue. And they're predicted to keep growing steadily over the next ten years. One of the main reasons for the popularity of single-shot vaccines is that they offer targeted protection against specific diseases. Travelers often have different destinations with different health risks, so single-shot vaccines allow healthcare providers to tailor immunization plans to match those risks. By choosing each vaccine separately, travelers can get protection only against the diseases that are common in their destination, saving them from spending money on unnecessary vaccinations. So, travelers tend to prefer single-shot vaccines over combination vaccines because they can customize their immunization plans to their specific needs.
Based on disease type, the travel vaccines market is segmented into hepatitis A, hepatitis B, influenza, diphtheria pertussis tetanus (DPT), rabies, yellow fever, typhoid, measles, and mumps, meningococcal, and others. The hepatitis A segment accounted for the largest market share of 20.2% in 2022 and is expected to showcase expansion at a CAGR of 9% by 2032 attributed to the high prevalence of hepatitis A among the population. For instance, according to a Centre of Disease Control and Prevention (U.S.) report, in 2023, there were 44,903 cases, 27,435 hospitalizations, and 423 deaths due to hepatitis A.
Based on application, the travel vaccines market is classified into domestic travel and outbound travel. In 2022, the outbound travel segment accounted for the largest market revenue of USD 2.2 billion and is expected to grow at a CAGR of 9.1% by 2032 attributed to the increase in travel for different purposes such as business, vacations, medical tourism, migration, and other purposes. For instance, according to U.S department of commerce, National Travel and Tourism Office from Bureau of Economic Analysis, in 2021, outbound travellers from the U.S. spent more than USD 8 billion on their travelling.
North America travel vaccines market accounted for a revenue of USD 1.6 billion in 2022, and it is expected to reach USD 4 billion by 2032 due to the frequent travelling, both for business and leisure. The sizable population and strong economy encourage a significant number of outbound and domestic trips, creating a substantial market for travel vaccines. For instance, according to Tourism Economics and U.S. Travel Association, in 2021, the total spending of domestic leisure travellers in the U.S. amounted to USD 751 billion and the international travel spending in the U.S. amounted to USD 40 million.
Travel Vaccines Market Share
The prominent players in travel vaccines market are
- GSK plc
- Sanofi
- Janssen Pharmaceuticals Inc.
- Pfizer Inc.
- CSL Ltd.
- Qiagen N.V.
- AstraZeneca
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Valneva Inc.
Travel Vaccines Industry News
- In January 2022, Pfizer and BioNTech signed a new global collaboration agreement to develop the first mRNA-based shingles vaccines with the aim to accelerate the development of an improved vaccines for shingles. This collaboration will benefit both the companies to expand their business, since they are the first ones to develop an mRNA-based shingles vaccines in the market.
- In March 2021, Sanofi made an investment of more than USD 750 million in a new vaccine manufacturing facility at its existing site in Toronto, Canada. The investment in a new facility provided additional antigen and filling capacity for Sanofi’s Fluzone High-Dose Quadrivalent influenza vaccine, helping to increase supply availability in Canada, the US, and Europe.
The travel vaccines market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments
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By Composition
- Mono vaccines
- Combination vaccines
By Disease Type
- Hepatitis A
- Hepatitis B
- Influenza
- Diphtheria pertussis tetanus (DPT)
- Rabies
- Yellow fever
- Typhoid
- Measles and mumps
- Meningococcal
- Other disease vaccines
By Application
- Outbound travel
- Domestic travel
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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