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

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

Travel Vaccines Market size is poised to record 9.7% CAGR from 2023-2032, driven by the influx of several new infectious diseases and the resurgence of existing ones, including measles and dengue. As per the Centers for Disease Control and Prevention, measles killed an estimated 128,000 people, mostly children in 2021.

The ongoing R&D activities and investments aimed at improving the existing travel vaccines and developing new vaccines will also assist the industry growth. To cite an instance, in May 2023, Bavarian Nordic invested $274M to acquire travel vaccine portfolio of Emergent BioSolutions in a bid to strengthen its R&D and manufacturing capabilities. The growing focus on the creation of more convenient, single-dose vaccines to offer broader protection will also add to the product adoption.

The overall travel vaccines industry is segmented based on composition, disease type, application, and region.

In terms of composition, the demand for combination travel vaccines may record appreciable CAGR from 2023-2032. Combination vaccines are used for simplifying the vaccination process and enhance compliance among travelers. These vaccines are especially beneficial for travelers at risk of exposure to several infectious diseases in different regions as they limit the need for multiple vaccinations while rendering protection against multiple diseases. The rising consumer preference for reducing the number of required injections and shots will also prove favorable for the product uptake.

With respect to disease type, the travel vaccines market from the hepatitis B segment is expected to garner significant CAGR through 2032. With the rapid growth in medical tourism, healthcare facilities are highlighting the requirement for hepatitis B vaccines for patients as well as medical tourists to limit the infection transmission. The higher prevalence of hepatitis B, mainly in Africa and Asia along with the rising rate of work-related travel will drive the segment growth. As per the WHO, nearly 91 million Africans were infected with Hepatitis B or C in 2022.

Regionally, APAC travel vaccines market size is projected to record appreciable CAGR through 2032 due to the rapid growth of the middle-class population and the rising preference for international travel. Several governments in the region are constantly reviewing and updating regulations related to travel vaccines, such as entry requirements and vaccination certificates. The surging emphasis laid by healthcare organizations about the importance of travel vaccinations will also prove favorable for the regional market expansion.