Travel Vaccines Industry Forecast 2024-2032, Featuring Strategic Analysis of GlaxoSmithKline, Merck & Co, Sanofi, Pfizer, CSL Limited, Bavarian Nordic, Roche, Abbott Labs, AstraZeneca, Janssen Pharma & More

Dublin, Jan. 10, 2025 (GLOBE NEWSWIRE) — The “Travel Vaccines Market Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering.

The global travel vaccines market attained a value of USD 3.87 billion in 2023. The market is expected to grow at a robust CAGR of 10.7% during the forecast period of 2024-2032, reaching nearly USD 9.67 billion by 2032. Theis growth is driven by the rising prevalence of infectious and travel-related diseases such as Japanese encephalitis, meningitis, diphtheria, and yellow fever, collectively fuelling the demand for effective vaccination solutions.

This industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the global travel vaccines market from 2017-2032.

• The research report provides the latest information on the market drivers, challenges, and opportunities in the global travel vaccines market.
• The study maps the leading, as well as the fastest-growing, regional markets, enabling stakeholders to identify key country-level markets within each region.
• Porter’s five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders analyse the level of competition within the global travel vaccines industry and its attractiveness.
• The competitive landscape section allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.

Market Drivers

Increasing Global Travel: The substantial rise in international travel for business, tourism, and education is a significant driver for the travel vaccines market. As more people venture into regions where endemic diseases are prevalent, the demand for vaccines to prevent illness intensifies, ensuring travellers remain protected during their journeys. This trend is particularly evident in regions with a high incidence of infectious diseases, where vaccination is often a prerequisite for entry or recommended by health authorities.

Governmental Health Initiatives: Governments around the world are increasingly implementing health policies that encourage or mandate vaccinations for travellers, particularly for diseases that pose substantial public health risks. These initiatives, often in the form of travel advisories or entry requirements, are significantly boosting the uptake of travel vaccines, contributing to public health safety and reducing the spread of infectious diseases across borders.

Advancements in Vaccine Technology: Technological advancements in vaccine development, particularly the creation of combination vaccines that protect against multiple diseases, are making vaccines more effective, safer, and convenient for travellers. These innovations are driving increased adoption, as they reduce the number of injections required and offer broader protection, thereby enhancing compliance among travellers who may otherwise avoid multiple vaccinations.

Market Challenges

Vaccine Hesitancy: Despite the availability and proven efficacy of vaccines, vaccine hesitancy remains a significant challenge. Misinformation and fear of side effects can deter travellers from getting vaccinated, impacting market growth.

Regulatory Hurdles: Navigating the complex regulatory landscape for vaccines in different countries can delay market entry and increase costs for vaccine manufacturers. Regulatory requirements vary widely, making compliance a significant challenge.

Logistical Challenges in Distribution: The distribution of vaccines, particularly to remote or underserved areas, can be challenging due to the need for cold chain storage and transportation. Ensuring that vaccines remain effective during transit is a critical concern.

Future Opportunities

Development of Universal Vaccines: Research into universal vaccines that offer protection against multiple strains or types of a virus presents a significant growth opportunity. Such vaccines could simplify travel health protocols and reduce the number of vaccinations required for international travel.

Technological Innovations in Vaccine Delivery: Innovations in vaccine delivery, such as needle-free options or oral vaccines, could increase vaccine uptake by making the vaccination process less invasive and more convenient for travellers.

Increasing Demand for Personalised Vaccination Plans: The growing demand for personalised healthcare extends to travel vaccines, with travellers seeking tailored vaccination plans based on their specific travel itinerary and health needs. This trend could drive the development of customised vaccine solutions.

Market Trends

Shift Towards Combination Vaccines: There is a growing trend towards the use of combination vaccines in the travel vaccines market. Combination vaccines offer protection against multiple diseases in a single dose, making them more convenient for travellers and increasing vaccination rates. This trend is particularly strong in regions where multiple vaccinations are required for safe travel, as it simplifies the vaccination process and reduces the number of injections needed.

Adoption of Digital Health Passports: With the ongoing digitalisation of healthcare, digital health passports that track vaccination status are becoming more common. These digital tools allow travellers to easily prove their vaccination status, facilitating smoother international travel and enhancing compliance with travel health regulations.

Increased Investment in Vaccine Research and Development: Governments and private organisations are increasing their investments in vaccine research and development, particularly in response to emerging global health threats. This trend is expected to drive the introduction of new and more effective travel vaccines over the coming years.

Expansion of Travel Health Clinics: The expansion of travel health clinics, particularly in urban centres and near major transportation hubs, is making it easier for travellers to access vaccines. These clinics often offer a one-stop solution for travel health needs, including vaccinations, travel advice, and health checks, contributing to the overall growth of the travel vaccines market.

Travel Vaccines Market Segmentation

Market Breakup by Composition

The market is segmented by composition into mono vaccines and combination vaccines. Mono vaccines are designed to protect against a single disease and remain widely used for their specific targeting capabilities. However, combination vaccines are increasingly popular due to their convenience, offering protection against multiple diseases in one shot. This segment is expected to see significant growth as it caters to the needs of travellers requiring multiple vaccinations, streamlining the immunisation process.

Market Breakup by Disease

The market segmentation of travel vaccines by disease includes hepatitis A, DPT, yellow fever, typhoid, hepatitis B, measles and mumps, rabies, meningococcal, and others. Hepatitis A and B vaccines are in high demand due to their effectiveness and the prevalence of these diseases in many travel destinations. Yellow fever and typhoid vaccines are also critical, especially for travellers to regions where these diseases are endemic. The ‘others’ category includes a range of vaccines for less common but equally important diseases, reflecting the diversity and complexity of travel health requirements.

Market Breakup by Region

The market segmentation by region includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America leads the market, driven by high travel rates and strong healthcare infrastructure. Europe follows closely, with a well-established system for travel vaccination. The Asia Pacific region is experiencing rapid growth due to increasing outbound travel and rising awareness of travel-related health risks. Latin America the Middle East and Africa are emerging markets, with significant potential as international travel increases and healthcare infrastructure improves.

Competitive Landscape

The competitive landscape of the global travel vaccines market includes leading companies such as GlaxoSmithKline plc, Merck & Co., Sanofi SA, and Pfizer Inc., which dominate the market with extensive vaccine portfolios and strong global distribution networks. CSL Limited, Bavarian Nordic AS, and F. Hoffmann-La Roche Ltd are also key players, focusing on vaccine development and market expansion.

Companies like Abbott Laboratories, AstraZeneca plc, and Janssen Pharmaceuticals contribute significantly to market growth through innovation and strategic partnerships. Valneva SE, BioNTech SE, and Sinovac Biotech Ltd are emerging players, enhancing competition and driving further advancements in the travel vaccines market.

Key Attributes

Major Companies Profiled in this Travel Vaccines Market Report

• GlaxoSmithKline plc
• Merck & Co.
• Sanofi SA
• Pfizer Inc.
• CSL Limited
• Bavarian Nordic AS
• F. Hoffmann-La Roche Ltd.
• Abbott Laboratories
• AstraZeneca plc
• Janssen Pharmaceuticals
• Valneva SE
• BioNTech SE
• Sinovac Biotech Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/a8qidu

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