Travel Vaccines Market Share and Forecast by 2031

The travel vaccines market size is projected to reach US$ 9.2 billion by 2031 from US$ 4.2 billion in 2023. The market is expected to register a CAGR of 8.7% during 2023–2031. Digitalization for travel vaccines are likely to remain key trends in the market.

Travel Vaccines Market Analysis

Vaccination drives or immunization programs will provide lucrative opportunity for the market growth for travel vaccines in the coming years. Most of the countries have mandated vaccination against several infectious diseases. However, there is a lack of awareness about vaccination in most of the low and middle–income countries. Therefore, several developing countries conduct awareness campaigns for vaccination drives. The United Nations Children's Fund (UNICEF) is one such example that have established a vaccine project to curb rotavirus, pneumococcal conjugate, and human papilloma virus (HPV) in the countries such as Samoa, Tonga, Tuvalu, and Vanuatu. The project is funded by the Asian Development Bank (ADB). ADB deployed US$ 29.7 million for system strengthening the coverage of new vaccines in the Pacific project. The project health ministries immunized 90,700 children against pneumonia, nearly 71,600 children against rotavirus, and 84,200 adolescent girls against HPV infections for the developing countries. Such aforementioned factors act as an influential factor responsible to account considerable market growth during 2021-2031. Digitalization for travel vaccines are likely to remain key trends in the market.

Travel Vaccines Market Overview

Growing incidence of infectious diseases drives the market growth. For example, COVID–19 pandemic has become a threat to public health. According to World Health Organuzation (WHO) report, over 1.53 million people were affected due to pandemic and nearly 3.2 million deaths were registered till May 1, 2021. Several emergency actions were initiated during the pandemic; among which, the COVAX initiative was aggressively enacted. Governments in every region have mandated vaccines for people traveling within and outside countries. The COVID-19 pandemic has contributed a lot to travel vaccines, and it is promoting the growth of the market.

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Travel Vaccines Market: Strategic Insights

Travel Vaccines Market Drivers and Opportunities

Rising International Travel Accelerates Demand for Travel Vaccines to Favor Market

International travellers increase the chance of spreading rare diseases. Therefore, vaccination before travel is imperative to ensure global public health and help travelers stay healthy during and after their travels. The immunizations recommended for travelers vary based on the certain factors. The factors involved the traveler's age, immunization history, existing medical conditions, destinations, planned activities, duration & nature of travel, and legal requirements for entry into visiting countries. Additionally, infants traveling for international trips should be primarily vaccinated for diphtheria, tetanus, acellular pertussis, inactivated polio, and Haemophilus influenzae type B, with or without hepatitis B (DTaP-IPV-Hib or DTaP-HB-IPV-Hib) vaccine and pneumococcal conjugate vaccine. For example, the first dose of the Measles-Mumps-Rubella (MMR) vaccine should be given at an earlier age than usual for children traveling outside of Canada. Therefore, rising infectious diseases accelerate demand for travel vaccines acting as the major drivers of global travel vaccines market share.

Research & Development (R&D) Activities Will Lucrative Market Opportunity

• In December 2021, Emergent BioSolutions Inc. announced the first participant dosed in its phase 1 study, EBS-UFV-001, evaluating the safety, tolerability, and immunogenicity of the company’s investigational universal influenza vaccine candidate. The current version of the influenza vaccine candidate contains multiple components intended to induce broad and supra-seasonal immunity against influenza A viruses.
• In February 2020, Abbott introduced a new inactivated quadrivalent vaccine for influenza. The new vaccine is the first of its kind sub-unit vaccine delivering protection against four virus strains, in India. It is the only 0.5 ml quadrivalent flu vaccine in India that has been approved for usage in children below 3 years.

Therefore, rising R&D activities is seen to leave a positive impact on the travel vaccines market, as it has an opportunity for development of advanced products.

Travel Vaccines Market Report Segmentation Analysis

Key segments that contributed to the derivation of the travel vaccines market analysis are type, application, and end user.

• Based on product, the travel vaccines market is segmented as Hepatitis A, Hepatitis B, meningococcal vaccines, DPT, Yellow Fever, typhoid, Japanese Encephalitis, Measles, Mumps, and Rubella (MMR), rabies, polio, influenza, varicella & shingles, cholera, and others. The Hepatitis A segment held a largest market share in 2023.
• By application, the market is segmented into domestic travel and outbound travel. The outbound travel segment held the largest share of the market in 2023.

Travel Vaccines Market Share Analysis by Geography

The geographic scope of the travel vaccines market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the market. In North America region, the US accounts largest share for travel vaccines market. Presence of top manufacturers in the region and their innovative product offerings are the factors contributing to the dominance of the market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Travel Vaccines Market Regional Insights

The regional trends and factors influencing the Travel Vaccines Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Travel Vaccines Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Travel Vaccines Market Report Scope

Travel Vaccines Market Players Density: Understanding Its Impact on Business Dynamics

The Travel Vaccines Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Travel Vaccines Market News and Recent Developments

The travel vaccines market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the travel vaccines market are listed below:

• Bavarian Nordic A/S announced partnership with Emergent Biosolutions Inc. for acquiring two marketed travel vaccines "Vivotif" for the prevention of typhoid fever and "Vaxchora" against Cholera as well as Phase 3 vaccine candidate to prevent Chikungunya virus. The acquisition aims not only to expand commercial product portfolio and take a leading position in travel vaccines, but also strengthen company's position in pipeline through promising late-stage vaccines. (Source: Bavarian Nordic A/S, Website, February 2023).

Travel Vaccines Market Report Coverage and Deliverables

The “Travel Vaccines Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Travel vaccines market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Travel vaccines market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Travel vaccines market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the travel vaccines market
• Detailed company profiles