Travel Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Hepatitis A, Hepatitis B, Meningococcal Vaccines, and Others) and Application (Domestic Travel and Outbound Travel)

Travel Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Hepatitis A, Hepatitis B, Meningococcal Vaccines, and Others) and Application (Domestic Travel and Outbound Travel)

The travel vaccines market is projected to reach US$ 5,914.22 million by 2028 from US$ 3,078.94 million in 2021; it is estimated to grow at a CAGR of 9.8% from 2021 to 2028.

Travelling and tourism have become an integral part of the human lifestyle. Travelling and tourism has not only transformed the ongoing routine of people but also offered opportunities to explore different culture, tradition, spiritualism, rural and ethnicities, and wellness across the world, and to take health breaks. For travelling internationally, immunization is referred to as a safety and precautionary measure to avoid the spread of infections. Various countries have their own policies to protect their citizens from travel-associated infections. For instance, in the UK, National Health Service (NHS) organizes routine immunization or vaccination campaigns for its citizens. If a person is traveling outside the UK, they need to get vaccinated to gain protection against infectious diseases such as hepatitis A, typhoid, and yellow fever. Similarly, in Saudi Arabia, travelers coming from Hajj and Umrah pilgrimages are required to show proof of vaccination against meningitis and seasonal influenza. Various countries require mandatory vaccination proofs documented on an International Certificate of Vaccination or Prophylaxis (ICVP).

According to the World Tourism Organization (WTO) estimates, there has been an increase in tourist arrivals from 1 billion in 2010 to 1.6 billion in 2020. The WTO estimated that long-distance travel will grow at a rate of 5.4% and travelling within regions will grow at 3.8% each year. Additionally, tourist arrivals increased steadily in regions such as Asia and Europe in 2020. Following is the table depicting estimates of WTO for international tourist arrival, by region.

Table 1. International Tourist Arrival Forecast, by Region

Region Base Year Forecast Average Annual Growth Rate
1995 2010 2020 1995–2020
World 565.4 1,006.4 1,561.1 4.1%
Europe 338.4 527.3 717.0 3.0%
East Asia/Pacific 81.4 195.2 397.2 6.5%
South Asia 4.2 10.6 18.8 6.2%
Note: Numbers of travel arrivals are in millions.

Source: World Tourism Organization

The abovementioned estimates suggest that travel and tourism will increase in coming years. Furthermore, conditions such as economic crises and demand for better job opportunities have contributed significantly to the surge in travel and tourism worldwide. Thus, the increasing travel and tourism activities is propelling the demand for travel vaccines.

Based on product, the global travel vaccines market is segmented into hepatitis A, hepatitis B, meningococcal vaccines, and others. The others segment held the largest share of the market in 2021. However, the meningococcal vaccines segment is anticipated to register the highest CAGR in the market during the forecast period.

Based on application, the global travel vaccines market is segmented into domestic travel and outbound travel. The outbound travel segment held a larger market share in 2021 and is anticipated to register a higher CAGR in the market during the forecast period.

The WHO, WTO, CDC, and Ministry of Health and Family Welfare are among the primary and secondary sources referred to while preparing the report on the global travel vaccines market.

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List of Companies - Travel Vaccines Market

1. GlaxoSmithKline plc
2. Merck & Co., Inc.
3. Sanofi
4. Novartis AG
5. Pfizer Inc.
6. Dynavax Technologies
7. Emergent BioSolutions Inc.
8. Abbott
9. Bharat Biotech
10. Valneva SE.