Travel Vaccines Market to Reach $5.91 Billion, Globally, by 2028 at 9.8% CAGR: The Insight Partners

NEW YORK, April 6, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Travel Vaccines Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Hepatitis A, Hepatitis B, Meningococcal Vaccines, DPT, Yellow Fever, Typhoid, Japanese Encephalitis, Measles Mumps & Rubella, Rabies, Polio, Influenza, Varicella & Shingles, Cholera, and Others) and Application (Domestic Travel and Outbound Travel)", the global travel vaccines market is projected to reach $5.91 Billion by 2028 from $3.07 Billion in 2021; it is estimated to grow at a CAGR of 9.8% from 2021 to 2028.

The travel vaccines market growth is driven by the rapid growth in the travel and tourism sector and the increasing need to prevent transnational infections globally. However, the high cost of travel vaccines hinders the market's growth.

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Travel Vaccines Market: Competition Landscape and Key Developments

GlaxoSmithKline plc; Merck & Co., Inc.; Sanofi; Novartis AG; Pfizer Inc.; Dynavax Technologies; Emergent BioSolutions Inc.; Abbott; Bharat Biotech; and Valneva SE are the key companies operating in the travel vaccines market. Companies adopt product innovation strategies to meet the evolving customer demands worldwide, permitting them to maintain their brand name in the global travel vaccines market. Also, market players create partnerships, collaborations, and contracts with hospitals and other healthcare facilities at various levels, such as municipal, state, and commercial, to improve emergency services, driving the travel vaccines market growth.

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 its 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.

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In June 2021, Merck & Co., Inc. and Sanofi developed the Vaxelis vaccine (Diphtheria and Tetanus Toxoids and Acellular Pertussis, Inactivated Poliovirus, Haemophilus b Conjugate, and Hepatitis B Vaccine) as part of a US-based partnership between the companies. The vaccine is considered the first hexavalent combination vaccine available in the US indicated for active immunization to help prevent DTP, polio, and hepatitis B.

Travel vaccines, also called travel immunizations, are shots travelers can get before visiting certain areas of the world, which help protect them from serious illnesses common in those ahead. Travel vaccines are safe, effective ways to help protect travelers from bringing home more infections than expected. These vaccines are recommended to protect against diseases endemic to the country of origin or destination. They are intended to protect travelers and prevent disease spread within and between countries.

Some countries require proof of vaccination for travelers, wishing to enter or exit the country. The continuous rise in the tourism industry and the increasing prevalence of infectious diseases contribute to the market's progress. However, the high cost of these vaccines has limited their demand, hindering the market.

A few vaccines are related to various diseases, such as hepatitis A, hepatitis B, meningococcal infections, diphtheria pertussis tetanus (DPT), yellow fever typhoid, Japanese encephalitis, measles mumps & rubella, rabies, polio, influenza, varicella & shingles, and cholera. The hepatitis A vaccination is expected to fuel the demand for travel vaccines substantially in the near future. Also, the DPT and influenza vaccines are projected to see significant growth during the forecast period, further driving the travel vaccine market growth.

Travel and tourism have become an integral part of the human lifestyle. Improving economic conditions and a change in the ongoing routine of people has also offered opportunities to explore a different culture, tradition, spiritualism, rural and ethnic tourism, wellness and health holidays, and many more across the world. According to The Millennial Travel Study by Skyscanner, 80% of respondents preferred traveling to international destinations over domestic ones. Over ~1,000 millennials (aged 18-35) were quizzed on factors, such as their preferred destination, mode of travel, and interests. Skyscanner also noted European destinations are a firm favorite among travelers of all age groups, followed by the US and New Zealand.

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Additionally, Statistics from Our World in Data, which collected the data from the World Tourism Organization, showed an increase in tourism in various regions in 2019—the European Union saw ~966.44 million arrivals, North America saw ~200 million arrivals, and the Middle East & North Africa saw ~128 million arrivals.

Furthermore, arrivals in France stood at 212 million in 2019, while other European countries, such as Spain, saw 126.17 million arrivals in the same year. Also, in 2019, the international number of arrivals stood at 2.403 billion. By region, the European Union saw an estimated arrival of 966.44 million, while East Asia & Pacific had 487.08 million visitors in 2019. The estimated expenditure stood at US$ 1.439 billion in international tourism.

While the COVID-19 pandemic massively disrupted this trend, the rollout of anti-COVID-19 vaccinations and COVID-19 regulations for safe traveling is expected to aid the normalization of tourism and travel. During the travel, a traveler is at risk of contracting regional diseases, leading to transnational disease outbreaks/epidemics. Thus, traveling outside the country requires immunization as a safety and precautionary measure to avoid the spread of infections.

Various countries have policies to protect their citizens from travel-associated infections. For instance, the UK National Health Service (NHS) organizes routine immunization or vaccination schedule for its citizens. If a person is traveling outside the UK, they need to get vaccinated to prevent infectious diseases such as hepatitis A, typhoid, and yellow fever. Similarly, in Saudi Arabia, travelers coming from Hajj and Umrah pilgrimages must show proof of vaccination for meningitis and seasonal influenza. Various countries require mandatory vaccination proofs documented on an International Certificate of Vaccination or Prophylaxis (ICVP).

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Vaccination is necessary against the diseased mentioned in the US Department of Health & Human Services (HHS), such as chickenpox, cholera, COVID-19, diphtheria, influenza, Hepatitis A, Hepatitis B, Haemophilus influenzae type B, human papillomavirus, Japanese encephalitis, measles, meningococcal, mumps, pneumococcal, polio, rabies, rotavirus, rubella, shingles, tetanus, typhoid fever, whooping cough, and yellow fever, depending on the traveling country. Concerns regarding the spread of regional diseases across nations are boosting the demand for travel vaccines, thereby driving the market. Additionally, the rising trend of emergence and re-emergence of infectious diseases and their spread through travel is expected to drive the growth of the travel vaccines market.

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