Travel Vaccines Market size is set to grow by USD 3.97 bn from 2024-2028, increase in global migration to boost the market growth, Technavio

NEW YORK, May 20, 2024 /PRNewswire/ -- The global travel vaccines market  size is estimated to grow by USD 3.97 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.64%  during the forecast period. 

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Segment Overview 

This travel vaccines market report extensively covers market segmentation by

1. Disease Type
• 1.1 Influenza
• 1.2 Diptheria
• 1.3 Hepatitis
• 1.4 Typhoid and others
2. End-user 
• 2.1 Adult vaccines
• 2.2 Pediatric vaccines
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Influenza-  The Travel Vaccines Market experiences robust growth, driven by the rising incidence of diseases such as influenza during vacations and medical tourism. Microbes and pathogenic organisms pose health hazards for travellers, necessitating immunization against various diseases. Vaccines, including attenuated organisms and bio-based drugs, play a crucial role in building immunity against illnesses like influenza, Dengue fever, and Hepatitis B virus. Top players like GlaxoSmithKline, Sanofi, and CSL dominate the market with their influenza vaccine offerings. Travel vaccinations, such as HEPLISAV B and Takeda's Dengue fever vaccine, are essential for safety during overseas travel. Novel vaccine technologies, like those based on molecular genetics, are also gaining popularity. Emporiatrics offers vaccine formulations for diseases like Yellow fever, Cholera, and Diarrhea. While vaccines ensure disease prevention, it's essential to consider dosages, side effects, and pandemic situations when planning travel vaccinations.

31.North America - The Travel Vaccines Market in North America is expected to dominate the global scene due to the presence of organizations like the Pan American Health Organization and the requirement of proof of vaccination for international travel. The market caters to first-time travellers and regular vacationers, offering vaccines such as BOOSTRIX, INFANRIX, Pediarix, BEXSERO, MENVEO, and influenza vaccines. With the increasing prevalence of diseases like influenza, rabies, typhoid, measles, and mumps, travel clinics have become essential for ensuring complete immunization before overseas travel. New vaccines, including those for dengue fever, hepatitis B, and measles, mumps, and rubella (MMR), are continually being introduced, incurring substantial cost for consultation fees and administration charges for multiple doses. While vaccines offer immunity against various microbes and pathogenic organisms, it is essential to consider disease type, likelihood of illness, and health hazards before use. Safety, side effects, and dosages are critical factors to consider when choosing travel vaccinations. Companies like Takeda, Dyanavax, and those producing bio-based drugs and antibodies are at the forefront of developing innovative travel vaccine solutions.

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Key Market Trends Fueling Growth

The travel vaccines market is influenced by various factors, including demographics and disease prevalence. Migrants, particularly those from younger age groups, have lower vaccination rates, increasing the risk of vaccine-preventable diseases in host countries. Key vaccines include those for hepatitis B, Dengue fever, and yellow fever. Novel technologies like mRNA vaccines and recombinant DNA technology are driving industry gains. Travelers should be aware of potential side effects, dosages, and safety concerns when using vaccines for diseases like cholera, hepatitis B, and yellow fever. 

Market Challenges

• The Travel Vaccines Market caters to travelers requiring vaccinations against vaccine-preventable diseases, primarily in endemic regions. High costs and limited insurance coverage are major barriers, with consultation fees and vaccine administration charges varying widely. Travel clinics offer essential vaccines like rabies, typhoid, measles, mumps, and more, but the substantial cost deters first-time travelers and those on vacations or medical tourism. New vaccines and initiatives aim to address these challenges, utilizing advanced technologies like recombinant DNA and mRNA.

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Research Analysis

The Travel Vaccines Market is a significant segment of the broader Biotechnology industry, focusing on the production and distribution of vaccines for travel-related diseases. This market caters to the needs of travellers, ensuring their immunity against vaccine-preventable diseases and health hazards associated with Overseas travel. Recombinant DNA technology and mRNA vaccines technology are the latest advancements in this field, enabling the production of specialized vaccines against pathogens causing infectious diseases such as Yellow Fever, Hepatitis A and B, Typhoid, and Rabies. The prevalence of these diseases varies based on disease strains and geographical locations, making it essential for travellers to stay informed and get immunized accordingly. Initiatives like the World Health Organization's (WHO) Global Travel Vaccine Network aim to increase awareness and accessibility of travel vaccines, contributing to the gains of the industry. Ultimately, the use of vaccinations is a crucial aspect of Travel Safety, protecting travellers from illnesses caused by pathogenic organisms and ensuring a healthy and enjoyable travel experience.

Market Research Overview

The Travel Vaccines Market refers to the production, distribution, and sale of vaccines used to prevent illnesses contracted during international travel. These vaccines are essential for preventing diseases such as Hepatitis A and B, Typhoid, Yellow Fever, Rabies, and Japanese Encephalitis. The market is driven by factors such as increasing international travel, government initiatives to promote vaccination, and the rising awareness of health risks associated with travel. The market is segmented based on vaccine types, end-users, and regions. Key players in the Travel Vaccines Market include Sanofi Pasteur, GlaxoSmithKline, Merck & Co., and Pfizer Inc. The market is expected to grow at a significant CAGR during the forecast period. The demand for travel vaccines is particularly high in developing countries due to the increasing number of travelers and the rising awareness of health risks. The market faces challenges such as the high cost of vaccines and the lack of reimbursement policies in some countries. Despite these challenges, the Travel Vaccines Market is expected to continue its growth trajectory due to the increasing number of travelers and the rising awareness of health risks associated with travel.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Disease Type
• Influenza
• Diptheria
• Hepatitis
• Typhoid And Others
• End-user
• Adult Vaccines
• Pediatric Vaccines
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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