The travel vaccine market is experiencing steady growth due to increasing global travel, rising awareness of health risks while traveling, and growing government initiatives promoting vaccination. The market is driven by the demand for vaccines that protect against specific infections prevalent in various travel destinations. With advancements in vaccine development and distribution networks, the market is expected to expand further, catering to the evolving needs of travelers worldwide.
According to Data Bridge Market Research, the Global Travel Vaccine Market was USD 3.2 billion in 2021, is expected to reach USD 7.70 billion by 2029, and is expected to undergo a CAGR of 11.6% during the forecast period 2022 to 2029.
“The increase in flu cases facilitate market growth”
The increase in flu cases serves as a significant driver for the travel vaccine market. As the prevalence of seasonal flu rises, there is a heightened awareness among travelers about the risks of contracting and spreading the flu during their journeys. This leads to an increased demand for travel vaccines that offer protection against the flu virus. Travelers seek vaccination to safeguard their health and prevent potential disruptions to their trips due to flu-related illnesses. Consequently, the travel vaccine market experiences growth as more individuals prioritize getting vaccinated before embarking on their travels.
What restraints the growth of global travel vaccine market?
“Difficulty in maintaining vaccines at the required temperature during storage and transportation”
One significant restraint of the travel vaccine market is the difficulty in maintaining vaccines at the required temperature during storage and transportation. Travel vaccines often require specific temperature conditions to remain effective, and any deviation from the recommended range can lead to a loss of potency or even render the vaccines unusable. This poses a considerable challenge, especially in regions with limited or unreliable cold chain infrastructure. Ensuring the proper storage conditions throughout the supply chain becomes crucial to avoid wastage and ensure the availability of effective vaccines for travelers.
Segmentation: Global Travel Vaccine Market
The travel vaccine market is segmented on the basis of composition and disease.
- On the basis of composition, the travel vaccine market is segmented into mono vaccines, combination vaccines.
- On the basis of disease, the travel vaccine market is segmented into hepatitis A, DPT, yellow fever, typhoid, hepatitis B, measles and mumps, rabies, meningococcal, varicella, japanese encephalitis, and others.
Regional Insights: North America dominates the Global Travel Vaccine Market
North America holds a dominant position in the travel vaccine market due to its ability to provide timely and up-to-date information on travel safety. The region's efficient response to crises and epidemics, along with effective management of vaccine stocks, meets the demands of travelers seeking vaccination, contributing to its leadership in the market.
In the forecast period from 2022 to 2029, Asia-Pacific is expected to witness the highest growth rate in the travel vaccine market. This growth is fueled by the increasing health consciousness among the population and a rising demand for advanced and effective vaccines in the region. As travel becomes more popular in the Asia-Pacific, the demand for travel vaccines is projected to surge significantly
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The Prominent Key Players Operating in the Global Travel Vaccine Market Include:
- GSK plc (U.K.)
- Sanofi (France)
- Merck KGaA (Germany)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
- Bavarian Nordic (Denmark)
- Janssen Pharmaceuticals Inc. (U.S.)
- CSL Limited (Australia)
- AstraZeneca (U.K.)
- Altimmune (U.K.)
- Abbott (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Crucell (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of global travel vaccine market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Travel Vaccine Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
