Increasing Healthcare Expenditure and Technological Advancement Along With the New Innovations Are Likely to Aid the Market Growth of the Travel Vaccines Market.
Hyderabad, India - July 16, 2021 /MarketersMedia/ —
Travel Vaccines Market size is forecast to reach $8.7 billion by 2026, growing at a CAGR of 7.2% during the forecast period 2021-2026. Travel vaccine, also known as travel immunizations, are injections that passengers will receive when reaching some parts of the planet. These travel vaccinations assist passengers all around the globe in avoiding severe illnesses. The vaccine works by exposing the body to the germs of the disease from which the individual is being vaccinated.
The body produces antibodies in response to the vaccine, which protect the body from disease exposure. The effectiveness of vaccine formulations is primarily determined by the vaccine stain, vaccine schedule, disease pathophysiology, and genetic predisposition. There are various vaccines available such as Combination Vaccines, Attenuated Vaccines, Inactive Vaccines, Toxoid Vaccines and others.
Rising prevalence of various diseases across the globe coupled with increasing number of travelers are the major factors driving the growth of the market. Growing research & development activities improving healthcare facilities is set to further enhance the overall market development of the Travel Vaccines Market for the period 2021-2026.
Travel Vaccines Market Segment Analysis – By Type
The Inactive Vaccines segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 7.8% during the forecast period 2020-2025. An inactivated vaccine is one that is made up of virus spores, bacteria, or other viruses that have been grown in culture and then destroyed to remove their ability to cause disease. It does not contain any live components hence it provide more benefits than Combination Vaccines, Attenuated Vaccines, Toxoid Vaccines and other vaccines. Inactive Vaccines target various viruses such as polio, hepatitis A, and rabies. Inactive Vaccines are estimated to register the higher CAGR over the period 2021-2026.
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Travel Vaccines Market Segment Analysis – By Disease
Influenza held the largest share in the Travel Vaccines Market in 2020 and is estimated to grow at a CAGR 8.1% during the forecast period 2021-2026. Influenza is a contagious bacterial infection caused by influenza viruses. The symptoms includes headache, runny nose, fever, sore throat, muscle pain, coughing, and fatigue. This disease is occurs all over the world and spreads rapidly in communities, particularly in densely populated areas. Travellers are highly advised to get the influenza vaccine, particularly if flu outbreaks are prevalent in the destination area. Influenza are estimated to register the higher CAGR over the period 2021-2026.
Travel Vaccines Market Segment Analysis – By Geography
North America dominated the Travel Vaccines Market with a major share of 37.3% in 2020. This is owing to increasing number of travel related diseases such as yellow fever, diphtheria, Hepatitis in this region. According to, Hepatitis B Foundation, in U.S. around 80,000 people affected with hepatitis B per year is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the development of health infrastructures and increasing awareness of health care. Increasing awareness of travel vaccine is also contributing to the growth in this region
Travel Vaccines Market Drivers
Increasing Number of Travellers
Increasing number of travellers in worldwide is increasing the growth of the Travel Vaccines Market. This is attributed to the development of the technologically advanced vaccines with extended longevity. According to, World Health Organization (WHO), International travel is increasing, with millions of people traveling each year for educational, religious, recreational, and humanitarian reasons. Furthermore, in some countries, Global regulatory agencies have now requested that travellers be vaccinated when visiting disease-prone areas. Thus, further contributing to the growth of Travel Vaccines Market during the forecast period 2021-2026.
Technological Advancements
Technological advancements is increasing the growth of the Travel Vaccines Market. Technological advancements has enabled the manufacturers to develop vaccines with more research & development. Increasing advancements in Travel Vaccines has provided an opportunity for development of vaccine with strong immunity. Thus, increasing the growth of the Travel Vaccines Market during the forecast period 2021-2026.
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Travel Vaccines Market Challenges
High Cost of Vaccine
Factors which restrain the growth of the Travel Vaccines Market are lack of skilled and trained healthcare professionals. High cost of Travel Vaccines, lack of compensation policy, and high initial investment is also set to hinder the growth of the market.
Travel Vaccines Market Landscape
The Travel Vaccines Market, top 10 companies are Novartis, Sanofi Pasteur, Merck & Co. Inc., Pfizer, Abbott, GSK group, F. Hoffman-La Roche Ltd., Baxter International, Inc. and Zydus Cadila
Key Takeaways
North America dominated the Travel Vaccines Market in 2020 owing to the wide availability of advanced technologies and favorable reimbursement policies. The Travel Vaccines Market scope for different regions will be provided in the final report.
Increasing healthcare expenditure and technological advancement along with the new innovations are likely to aid the market growth of the Travel Vaccines Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Travel Vaccines Market report.
High cost of vaccines and lack of skilled and trained healthcare professionals is poised to create the hurdles for the Travel Vaccines Market.
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